2010 038 Ordinance - Laserfiche WebLink

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than one (1) day prior to the Closing Date: (i) a limited warranty deed conveying the Residential Property to Seller; and (ii) such affidavits and indemnities as are reasonably requested by the Title Company in connection with the conveyance of the Residential Property. This Agreeinent shall serve as joint escrow instructions to Escrow Agent. Escrow Agent may attach its standard terms which shall govern insofar as they do not conflict herewith. The Escrow Agent shall close the transaction by: i. Filing the deed(s) for record; ii. Charging the Parties for prorations and costs as provided herein; and iii. Disbursing the funds and delivering the docuinents (or recorder's receipt) deposited with it as provided lzerein. Escrow Agent shall charge the following costs and expenses to Buyer on the Closing Date (the "Closing Costs"): (i) the premium to issue the Title Policy; (ii) the cost of the Survey, if any; (iii) the fees for filing the Deed for the Property; (iv) the cost of the real estate transfer tax or conveyance fee; (v) the cost of the title examination for the Property and the fee for issuance of the Title Commitment; and (vi) the escrow fee. Buyer shall deposit any amounts needed to satisfy the Closing Costs with Escrow Agent on or prior to the Closing Date. Escrow Agent shall charge the following costs and expenses to Seller on the Closing Date (the "Seller Closing Costs"): (i) the cost of any title commitment or any title policy for the Residential Property; (ii) the cost of any survey for the Residential Property; and (iii) the fees for filing the deed for the Residential Property. Seller shall deposit any amounts needed to satisfy the Seller Closing Costs with Escrow Agent on or prior to the Closing Date. 8. Pa-econditions to Closing.All of Buyer's obligations to Closing are conditioned on the following (the "Preconditions to Closing"): (a) Satisfaction of the title and survey conditions as set forth in Section 3; (b) Satisfaction of the inspection conditions as set forth in Section 4; (c) The representations and warranties of Seller set forth in this Agreement shall Ue true and correct on the Closing Date; (d) Passage of an ordinance by Mayfield Village Council ("Village Council") authorizing the transaction contemplated by this Agreement; (e) Passage of a resolution by the Board of Trustees of Buyer authorizing the transactions contemplated by this Agreement; and (fl Approval by Seller, and the filing by Seller, if necessary, at Seller's sole cost and expense, of a lot split consolidation plat, reviewed and approved by Buyer, with the Cuyahoga County Recorder to designate the Property as a separate tax parcel. 474370 v_05 \ 122504.0011