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Steven T Hunt and Janice L Finley 6/19/2019
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Steven T Hunt and Janice L Finley 6/19/2019
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Last modified
6/25/2019 9:28:22 AM
Creation date
6/25/2019 9:28:13 AM
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Contracts
Contractor's Name
Steven T Hunt and Janice L Finley
Approval Date
6/19/2019
Council Approval Date
6/12/2019
Department
Facilities
Department Project Manager
Darcie Byrd
Subject / Project Title
Real Estate Purchase Water Transmission Line
Tracking Number
0001853
Total Compensation
$48,000.00
Contract Type
Agreement
Contract Subtype
Purchase
Retention Period
6 Years Then Destroy
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7.2 Seller's Escrow Deposits. On or before the Closing Date, Seller <br /> shall deposit into escrow the following: <br /> a) the duly executed and acknowledged Deed; <br /> b) a duly executed and completed Real Estate Excise Tax affidavit; <br /> c) a nonforeign affidavit pursuant to Section 1445 of the Internal <br /> Revenue Code <br /> d) any other documents, instruments, records, correspondence and <br /> agreements Seller is obligated under this Agreement to provide <br /> that have not been previously delivered; <br /> e) keys to the Property, if any. <br /> 7.3 Buyer's Escrow Deposits. On or before the Closing Date, Buyer <br /> shall deposit into escrow the following: <br /> a) cash in an amount sufficient to pay the Purchase Price, plus <br /> Buyer's share of closing costs; <br /> b) a duly executed and completed Real Estate Excise Tax affidavit; <br /> c) a nonforeign affidavit pursuant to Section 1445 of the Internal <br /> Revenue Code; and <br /> d) any other documents, instruments, records, correspondence and <br /> agreements Buyer is obligated under this Agreement to provide <br /> that have not been previously delivered. <br /> 7.4 Additional Instruments and Documentation. Seller and Buyer <br /> shall each deposit any other instruments and documents that are reasonably required by <br /> Closing Agent or otherwise required to close the escrow and consummate the purchase <br /> and sale of the Property in accordance with this Agreement. <br /> 7.5 Closing Costs. On closing, Seller shall pay real estate excise taxes; <br /> sales tax, if any; half of the Closing Agent's escrow fee; and shall pay the premium for a <br /> standard coverage owner's policy of title insurance. Buyer shall pay half Closing Agent's <br /> escrow fee and shall also pay the cost of the additional premium for an extended coverage <br /> title insurance policy (if required by Buyer) and recording fee for the deed. Additionally, <br /> Seller shall pay applicable prorated items as set forth in Section 4.3 below. Buyer and <br /> Seller shall prepare a real estate excise tax affidavit as required to close the sale. <br /> 7.6 Prorations. All normal and customarily pro-ratable items, including <br /> without limitation real estate and personal property taxes and utility bills, shall be prorated <br /> as of the date of closing, on the basis of a 365 day year, with Seller being charged and <br /> credited for all of same up to the closing date and Buyer being charged and credited for <br /> 5 <br />
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