Common use of Closing of Title Clause in Contracts

Closing of Title. 7.1 It is agreed by the Parties hereto that the closing of title (the “Closing”) shall take place at the offices of the counsel for the Township: ▇▇▇▇▇▇▇▇▇ & Scotland, L.L.C., ▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, Roseland, NJ 07068 or at such other location as designated by the Township, at 10:00 a.m., on or before the ( ) day after the expiration of the Due Diligence Period without termination of this Agreement by the Township, as hereinafter defined, and the satisfaction of the conditions precedent to Closing more fully set forth in Article 16 below (the “Closing Date”) in accordance with the terms of this Agreement. 7.2 On the Closing Date, the Seller shall deliver to the Township the following: a) A fully and properly executed bargain and sale deed with covenants against grantor’s acts, in recordable form to convey title to the Property; b) An executed Affidavit of Title in form and substance reasonably acceptable to the Township and its Title Company; c) An Internal Revenue Code Section 1445 Affidavit; d) Closing Statement; e) Corporate resolution approving this transaction and authorizing officers of Seller to take such acts and to execute and deliver such documents as are needed to effectuate same; f) A properly completed and executed Affidavit of Consideration or Exemption and GIT/REP Form 1, 2 or 3; g) Evidence of ISRA compliance, if applicable; and h) Any other necessary documents reasonably required by the Township, its attorney, or the Title Company; 7.3 The Township will pay for all recording fees and realty transfer taxes, if any, incidental to conveying title to the Township. It is expressly understood and agreed, however, that each Party shall be solely responsible for its own attorney fees.

Closing of Title. 7.1 It is agreed by the Parties hereto that the closing of title (the “Closing”) shall take place at the offices of the counsel for the Township: ▇▇▇▇▇▇▇▇▇ & Scotland, L.L.C., ▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, Roseland, NJ 07068 or at such other location as designated by the Township, at 10:00 a.m., on or before the ( ) day after the expiration of the Due Diligence Period without termination of this Agreement by the Township, as hereinafter defined, and the satisfaction of the conditions precedent to Closing more fully set forth in Article 16 below (the “Closing Date”) in accordance with the terms of this Agreement. 7.2 On the Closing Date, the Seller shall deliver to the Township the following: a) A fully and properly executed bargain and sale deed with covenants against grantor▇▇▇▇▇▇▇’s acts, in recordable form to convey title to the Property; b) An executed Affidavit of Title in form and substance reasonably acceptable to the Township and its Title Company; c) An Internal Revenue Code Section 1445 Affidavit; d) Closing Statement; e) Corporate resolution approving this transaction and authorizing officers of Seller to take such acts and to execute and deliver such documents as are needed to effectuate same; f) A properly completed and executed Affidavit of Consideration or Exemption and GIT/REP Form 1, 2 or 3; g) Evidence of ISRA compliance, if applicable; and h) Any other necessary documents reasonably required by the Township, its attorney, or the Title Company; 7.3 The Township will pay for all recording fees and realty transfer taxes, if any, incidental to conveying title to the Township. It is expressly understood and agreed, however, that each Party shall be solely responsible for its own attorney fees.