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7. Closing Costs. <br />(a) Seller hereby agrees to pay and be responsible for the following closing cost with respect <br />to the closing of the Property: <br />(i) the cost of all tau, certificates relating to all taxes and other assessments incurred <br />or arising ill relation to the Property - <br />(i i) <br />roperty; <br />(ii) one-half (%) of the 'Title Company's escrow fees; <br />(iii) the basic premium for the Owner's Policy of Title Insurance; <br />(iv) all costs and expenses incurred by or on behalf of the Seller, including Seller's <br />attorney's fees: and <br />(v) such other incidental costs and fees customarily paid by sellers of real property in <br />I larris County, Texas, for transactions of a similar nature to the transaction contemplated herein. <br />(b) Purchaser hereby agrees to pay and be responsible for the following closing cost with <br />respect to the closing otr the purchase of the Property: <br />(i) all fees and premiums for any endorsements to the Basic Owner's Title Policy; <br />(ii) all fees and costs for the Survey; <br />(iii) one-half ('/2) of the Title Company's escrow fees; <br />(iv) fees for recording the Restriction Agreement and the Special 11Varranty Deed with <br />the County Clerk of Harris County, <br />(v) all costs and expenses incurred by or oil behalf of the Purchaser; including <br />Purchaser's attorneys' fees; <br />(vi) all premiums and fees for optional riders and amen dtile tits to the Basic (tuner's <br />Title Poliey and all costs related to issuance of any Mortgagee's Title Policy; and <br />(vii) such other incidental costs and fees customarily paid by purchasers of property in <br />Harris County, Texas, for transactions of a similar nature to the transaction contemplated herein. <br />8. Conditions to CIO�Hig. <br />Closing oil the sale of the Property shall be conditioned upon: <br />(i) Purchaser• having executed the Restriction Agreement; <br />(ii) Seller closirrg oil the prtrchase of the Property from City pursuant to the City <br />Sales Contract; and <br />(iii) Tire zoning of the Property being amended, if necessary, and a Site Plan for the <br />Property; if necessary, such that Purchaser may develop and use the Property for the Required <br />912FUnCHAS['A\n SALE AGRL£.liesTBy,i w:r�l.APORTE r)F�°rt.oFlrr�TCortt'o]i:17r0\ <br />AND MARTYc_t»F'ESf -PAGES <br />