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11. PRORATIONS, CHARGES. AND CREDITS. <br />A. Buyer• Buyer shall be charged with the following costs, to be <br />deducted by the escrow agent from funds due Buyer, if any, or to be <br />paid by Buyer prior to transfer of title: <br />1. The cost of the location service or survey, including surveying and <br />preparing the legal description; <br />2. The cost of any special tax search; <br />3. The cost of any Owner's Policy of Title Insurance; <br />4. The,costs incident to filing the deed and any mortgage(s) placed <br />upon the property; <br />5. The costs incident to the obtaining of financing, if any; <br />6. The escrow fee; <br />7. The cost for a Title Guaranty in the amount of the purchase price; <br />8. The cost of any conveyances and/or real estate transfer taxes <br />applicable to the property; <br />9. Preparation of the deed; and <br />10. The amount of any prorations due Buyer under this agreement. <br />B. Seller. Taxes and assessments, both general and special, shall be <br />prorated by the escrow agent as of the date of transfer based on the last available tax <br />duplicate. The costs of satisfying any taxes, assessments, liens or encumbrances <br />required to be discharged by this Agreement shall be charged to Seller, prior to transfer. <br />12. DEFAULT. Time is of the essence of this contract. If Buyer shalf default in <br />the performance of any of the obligations imposed on Buyer by this Agreement, the <br />5