Costs of Escrow and Closing. City shall pay the cost for an ALTA standard leasehold title insurance policy for each of Parcels 1, 2, 4 and 5. LPC West shall pay the cost for the Title Policy above the cost of an ALTA standard leasehold title insurance policy, including the cost of extended coverage and endorsements. City shall pay the cost of any and all transfer or excise tax, the Parties shall share equally escrow fees charged by the Title Company, and LPC West shall pay the Title Company’s document recordation fees, except for recordation of documents needed to remove title exceptions that City has agreed to remove pursuant to City’s Cure Notice, which shall be paid by City. All other Closing costs shall be allocated in accordance with local custom. All items of income and expense attributable to the Parcel subject to the Closing, including any real estate taxes and assessments, shall be prorated as of 11:59 p.m. Pacific Time on the day prior to the Closing Date.
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Costs of Escrow and Closing. City shall pay the cost for an ALTA standard leasehold title insurance policy for each of Parcels 1, 2, 4 and 5. LPC West shall pay the cost for the Title Policy above the cost of an ALTA standard leasehold title insurance policy, including the cost of extended coverage and endorsements. City shall pay the cost of any and all transfer or excise tax, the Parties parties shall share equally escrow fees charged by the Title Company, and LPC West shall pay the Title Company’s document recordation fees, except for recordation of documents needed to remove title exceptions that City has agreed to remove pursuant to the City’s Cure Notice, which shall be paid by City. All other Closing costs shall be allocated in accordance with local custom. All items of income and expense attributable to the Parcel subject to the Closing, including any real estate taxes and assessments, shall be prorated as of 11:59 p.m. Pacific Time on the day prior to the Closing Date.
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