REDEVELOPMENT AGREEMENT ASSIGNMENT (SUBJECT TO THE TERMS AND PROVISIONS OF
SECTION 5.5 OF THE CONTRACT), REAL ESTATE TRANSFER DECLARATIONS (IF APPLICABLE)
AND SUCH OTHER DOCUMENTS AS MAY BE REASONABLY REQUIRED BY TITLE COMPANY IN ORDER
TO ISSUE THE TITLE POLICY AND TO OTHERWISE CONSUMMATE THE CLOSING.
6.4
PRORATIONS
ALL REAL ESTATE TAXES, ASSESSMENTS, UTILITIES EXPENSES, TRASH PICKUP AND OTHER
SERVICES (IF BUYER CONTINUES SUCH SERVICES) AND AMOUNTS PAYABLE PURSUANT TO THE
ELECTED OPERATING AGREEMENTS, AND ALL OTHER PERIODIC EXPENSES OF THE PROPERTY
SHALL BE PRORATED AS OF THE CLOSING DATE.
ALL PRORATIONS SHALL BE MADE SUCH
THAT BUYER IS CREDITED OR DEBITED WITH ALL ITEMS FOR THE DAY ON WHICH THE
CLOSING OCCURS. IF, FOLLOWING CLOSING, EITHER PARTY DISCOVERS THAT ANY ITEM
PRORATED, CHARGED, OR CREDITED PURSUANT TO THE PROVISIONS OF THIS SECTION 6.4
WAS ERRONEOUS OR WAS BASED UPON AN INACCURATE ESTIMATE, THEN SUCH PARTY SHALL
NOTIFY THE OTHER PARTY OF SUCH ERROR AND AN APPROPRIATE ADJUSTMENT SHALL BE MADE
BETWEEN THE PARTIES SO THAT ANY SUCH ITEM WILL HAVE BEEN CORRECTLY AND
ACCURATELY PRORATED, CHARGED, OR CREDITED BETWEEN THE PARTIES. ANY SUCH AMOUNT
SHALL BE DUE AND PAYABLE TEN (10) DAYS FOLLOWING DEMAND FOR PAYMENT THEREOF
ACCOMPANIED BY SUCH DOCUMENTS AS MAY REASONABLY BE REQUIRED TO ESTABLISH THE
ACCURACY OF SUCH ADJUSTMENT. IN THE EVENT THAT REAL ESTATE TAXES TO BE PRORATED
ARE NOT KNOWN ON THE CLOSING DATE, SUCH PRORATIONS SHALL BE BASED UPON THE MOST
RECENT ASCERTAINABLE REAL ESTATE TAXES AND THE PARTIES AGREE TO REPRORATE SUCH
REAL ESTATE TAXES WHEN THE AMOUNTS THEREOF BECOME KNOWN (AND THE PARTY OWING THE
OTHER PARTY ANY AMOUNTS IN CONNECTION WITH SUCH REPRORATION SHALL PAY SUCH
AMOUNTS TO THE OTHER PARTY WITH TEN (10) DAYS FOLLOWING THE COMPLETION OF SUCH
REPRORATION).
EXCEPT AS OTHERWISE PROVIDED IN THIS SECTION 6.4, ALL PRORATIONS
ARE FINAL AND THERE SHALL BE NO REPRORATIONS.
THE PROVISIONS OF THIS SECTION
6.4 SHALL SURVIVE THE CLOSING.
6.5
CLOSING COSTS
EACH PARTY SHALL PAY ITS OWN ATTORNEYS' FEES AND COSTS RELATING TO THE
PREPARATION AND NEGOTIATION OF THIS CONTRACT AND THE CLOSING DOCUMENTS
HEREUNDER. BUYER SHALL PAY (I) ANY EXPENSES IN CONNECTION WITH OBTAINING THE
SURVEY, (II) WITH RESPECT TO THE TITLE POLICY, THE DIFFERENCE BETWEEN THE
PREMIUM COST FOR A STANDARD OWNER'S POLICY OF TITLE INSURANCE AND THE PREMIUM
COST PAYABLE FOR AN OWNER'S ALTA EXTENDED COVERAGE POLICY OF TITLE INSURANCE,
(III) ANY ENDORSEMENTS TO THE TITLE POLICY REQUESTED BY BUYER, (IV) RECORDING
COSTS FOR THE DEED AND (V) ONE-HALF OF ANY ESCROW
OR CLOSING FEES. SELLER SHALL
PAY (A) ALL FEES AND EXPENSES IN CONNECTION WITH THE ISSUANCE OF THE TITLE
REPORT, (B) WITH RESPECT TO THE TITLE POLICY, ALL PREMIUMS FOR A STANDARD
OWNER'S POLICY OF TITLE INSURANCE, (C) RECORDING COSTS (OTHER THAN WITH RESPECT
TO THE DEED), (D) ANY TRANSFER TAX OR DOCUMENTARY STAMPS APPLICABLE TO THE
TRANSACTION CONTEMPLATED BY THIS CONTRACT (TO THE EXTENT THE SAME ARE NOT
EXEMPTED PURSUANT TO THE CONFIRMATION ORDER) AND (E) ONE-HALF OF ANY ESCROW AND
CLOSING