Agreement Of Purchase And Sale Page 2
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301.1.6
Broker:
XYZ Brokerage Services
1.1.7
Effective Date: The date on which this Agreement is executed by the
latter to sign of Purchaser or Seller, as indicated on the signature page of
this Agreement.
1.1.8
Property Information Delivery Date: The date which is fifteen (15) days
after the Effective Date.
1.1.9
Title Commitment Delivery Date: The date which is fifteen (15) days
after the Effective Date.
1.1.10
Title and Survey Review Period: The period ending fifteen (15) days
after Purchaser’s receipt of the initial Title Commitment, but in any event
not later than the expiration of the Inspection Period.
1.1.11
Inspection Period: The period beginning on the Effective Date and
ending forty-five (45) days after the Effective Date.
1.1.12
Closing Date: The date which is thirty (30) days after the expiration of
the Inspection Period (as the Closing Date may be extended pursuant to
Section 7.1).
1.2
Closing Costs. Closing costs shall be allocated and paid as follows:
Cost
Responsible Party
Title Commitment required to be delivered pursuant to Section 5.1
Seller
Premium for standard form Title Policy required to be delivered pursuant to
Seller
Section 5.4
Premium for any upgrade of Title Policy for extended or additional coverage and any
Purchaser
endorsements desired by Purchaser, any inspection fee charged by the Title Company,
tax certificates, municipal and utility lien certificates, and any other Title Company
charges
Costs of Survey and/or any revisions, modifications or recertifications thereto
Purchaser
Costs for UCC Searches
Purchaser
Recording Fees
Purchaser
Any deed taxes, documentary stamps, transfer taxes, intangible taxes, mortgage taxes
Purchaser
or other similar taxes, fees or assessments
Any escrow fee charged by Title Company for holding the Earnest Money or
Purchaser ½
conducting the Closing
Seller ½
Real Estate Sales Commission to Broker
Seller
All other closing costs, expenses, charges and fees
Purchaser
2
Page
H-Earnest Money Contract
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