Common use of Costs and Commissions Clause in Contracts

Costs and Commissions. 7.1 Seller shall pay the premium for the Owner's Title Policy allocable to standard coverage, the cost of the Survey, its own legal fees, and grantor's documentary transfer tax, including any local transfer taxes, to the extent such taxes are customarily payable by Seller to the county and/or city in which the Property is located. Buyer shall pay any additional title premium attributable to extended (survey) coverage and any endorsements to the Owner's Title Policy requested by Buyer and agreed to by the Title Company, the entire cost of the Lender's Title Policy, if any, and any endorsements thereto, its own legal fees, all fees and expenses relating to its inspection and testing of the Property or its review of the Due Diligence Information, the cost of recording the Deed and any local transfer tax customarily payable by the Buyer. Seller and Buyer will share equally all other closing fees and closing costs (to the extent consistent with local custom and practice), including, without limitation, Escrow Agent's fees and expenses, subject to the provisions of Article VI herein. 7.2 In connection with the transaction contemplated by this Agreement, Buyer has agreed, pursuant to a separate document, to pay to ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, Focus Commercial and/or The ▇▇▇▇▇▇▇▇▇ Company (collectively, "Buyer's Brokers") at Closing, compensation in an amount set forth in such separate agreement. Seller has agreed, pursuant to a separate document, to pay compensation to Insignia Commercial Group, Inc., in its capacity as Seller's Broker, out of the net cash funds paid to Seller at Closing, compensation in an amount set forth in such separate agreement.Buyer and Seller each represent to the other that they have not entered into any other agreement or incurred any other obligation which might result in the obligation to pay a real estate sales or brokerage commission or finder's fee with respect to this transaction. Buyer and Seller each agree to indemnify, defend, protect and hold the other harmless from and against any and all claims, demands, causes of action, liabilities, costs and/or expenses (including reasonable attorney's fees and costs) asserted against or incurred by the other party as a result of any claim or assertion made by any person to a right to a real estate sales or brokerage commission or finder's fee in connection with this transaction, to the extent such claim or assertion is based on the actual or alleged acts or omissions of the indemnifying party, its broker or representative. The obligations of Buyer and Seller under this Section 7.2 shall survive the Closing Date or the earlier termination of this Agreement pursuant to its terms for a period of one (1) year following the Closing Date.

Costs and Commissions. 7.1 Seller shall pay the premium premiums for the Owner's Title Policy Policies allocable to standard coverage, the cost of the Survey, and updated Survey (if any), its own legal fees, state sales tax and grantor's documentary transfer tax, including any local transfer taxes, to the extent such taxes are customarily payable by Seller to the county and/or city in which the Property is locatedtax (if any). Buyer shall pay any additional title premium premiums attributable to extended (survey) coverage and any endorsements to the Owner's Title Policy requested by Buyer and agreed to by the Title Company, the entire cost of the Lender's Title Policy, if any, and any endorsements thereto, its own legal fees, all fees and expenses relating to its inspection and testing of the Property or its review of the Due Diligence Informationbooks and records relating to the Property, the cost of recording the Deed and any local transfer tax customarily payable by the BuyerDeed. Seller and Buyer will share equally all other closing fees and closing costs (to the extent consistent with local custom and practice), including, without limitation, Escrow Agent's fees and expenses, subject to the provisions of Article VI herein. 7.2 In connection with the transaction contemplated by this Agreement, Buyer has agreed, pursuant to a separate document, to pay to Steve Levine ("Buyer's Br▇▇▇▇") ▇▇ ▇. ▇▇▇▇▇▇▇▇, Focus Commercial and/or The ▇▇▇▇▇▇▇▇▇ Company (collectively, "Buyer's Brokers") at Closing, osing compensation in an amount set forth in such separate agreement. Seller has agreed, pursuant to a separate document, to pay compensation to Insignia Commercial Group, Inc., in its capacity as Seller's Broker, out of the net cash funds paid to Seller at Closing, compensation in an amount set forth in such separate agreement.Buyer and Seller each represent to the other that they have not entered into any other agreement or incurred any other obligation which might result in the obligation to pay a real estate sales or brokerage commission or finder's fee to any other person or entity with respect to this transaction. Buyer and Seller each agree to indemnify, defend, protect defend and hold the other harmless from and against any and all claims, demands, causes of action, liabilities, costs and/or expenses (including reasonable attorney's fees and costs) asserted against or incurred by the other party as a result of any claim or assertion made by any person to a right to a real estate sales or brokerage commission or finder's fee in connection with this transaction, to the extent such claim or assertion is based on the actual or alleged acts or omissions of the indemnifying party, its broker or representative. The obligations of Buyer and Seller under this Section 7.2 shall survive the Closing Date or the earlier termination of this Agreement pursuant to its terms for a period of one (1) year following the Closing Dateterms.