Common use of Fees Payment and Expenses Clause in Contracts

Fees Payment and Expenses. Buyer covenants and agrees to pay to Lender at Closing the following (the “Required Payments”): (a) One percent (1%) of the amount listed in Section 2(a) above, as an assumption fee, and $2,500.00 as an application fee, for Lender’s consent to the Transfer and Assumption of the Loan. (b) The amounts listed in Section 2(d) above due and payable on January 1, 2015, but only if the Transfer and Assumption closes on or after the 10th of the month preceding such date. (c) Payment of legal fees and expenses of Lender’s counsel in connection with the Transfer and Assumption. (d) Payment of the fees and expenses of rating agencies, and their respective counsel, if applicable. (e) Payment for third party reports.

Fees Payment and Expenses. Buyer covenants and agrees to pay to Lender at Closing the following (the “Required Payments”): (a) One percent (1%) of the amount listed in Section 2(a) above, as an assumption fee, and $2,500.00 as an application fee, for Lender’s consent to the Transfer and Assumption of the Loan. (b) The amounts listed in Section 2(d) above due and payable on January April 1, 2015, but only if the Transfer and Assumption closes on or after the 10th of the month preceding such date. (c) Payment of legal fees and expenses of Lender’s counsel in connection with the Transfer and Assumption. (d) Payment of the fees and expenses of rating agencies, and their respective counsel, if applicable. (e) Payment for third party reports.