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DocuSign Envelope ID:368C77B5-648E-48A2-ABF6-2F3D8743222B <br /> reflect matters other than those required under this contract; the costs to <br /> obtain financing of the Purchase Price, including the incremental premium <br /> costs of mortgagee's title policies and endorsements and deletions required <br /> by Buyer's lender; and Buyer's expenses and attorney's fees. <br /> C. Ad Valorem Taxes. Buyer is a tax-exempt governmental entity and assumes <br /> no responsibility for taxes associated with Seller's ownership of the <br /> Property through the Closing Date. Ad valorem taxes for the Property for <br /> the calendar year of closing will be prorated between Buyer and Seller as of <br /> the Closing Date. Seller's portion of the prorated taxes will be paid to Buyer <br /> at closing as an adjustment to the Purchase Price. If the assessment for the <br /> calendar year of closing is not known at the Closing Date,the proration will <br /> be based on taxes for the previous tax year,and Buyer and Seller will adjust <br /> the prorations in cash within thirty days of when the actual assessment and <br /> taxes are known. All taxes due as of closing will be paid at closing and the <br /> Title Company will pay such taxes directly to the Hays County Tax <br /> Assessor-Collector pursuant to Section 26.11 of the Texas Tax Code. <br /> Nonetheless, after closing, Buyer may forward any tax bills attributable to 1 <br /> Seller's ownership of the Property directly to Seller and Seller shall <br /> promptly pay such bill. If Buyer pays such bill, it may forward an invoice <br /> to Seller for reimbursement and Seller shall promptly pay such invoice. <br /> Buyer may pursue any remedies available at law or in equity to enforce the <br /> Seller's obligations under this paragraph. Seller's obligations under this <br /> paragraph shall survive closing. ' <br /> 1 <br /> d. Postclosing Adjustments. If errors in the prorations made at closing are <br /> identified within ninety days after closing, Seller and Buyer will make <br /> postclosing adjustments to correct the errors within fifteen days of receipt <br /> of notice of the errors. <br /> e. Broker's Commissions. Seller shall be solely responsible for and agrees to <br /> pay Seller's Broker a fee as may be agreed to in writing between Seller and <br /> Seller's Broker. Buyer will not be responsible for payment of any Broker's <br /> Commissions and Seller agrees to indemnify, defend and hold Buyer <br /> harmless from any loss, attorney's fees, court costs and other costs arising <br /> out of a claim by any person or entity claiming a fee or commission arising <br /> from this transaction. <br /> 3. Issuance of Title Policy. Title Company shall issue the Title Policy to Buyer as soon <br /> as practicable after closing. <br /> L. Default and Remedies <br /> 1. Seller's Default, If Seller fails to perform any of its obligations under this contract <br /> or if any of Seller's representations is not true and correct as of the Effective Date or on the Closing <br /> Date("Seller's Default"),Buyer may elect either of the following as its sole and exclusive remedy: <br /> i <br /> i <br />