HomeMy WebLinkAboutCompliance & Tax Proration AgreementCOMPLIANCE AND TAX PRORATION AGREEMENT
RE: Property Address: 8347 Calumet Court, Port St. Lude, FL 34986
File No. 152652-40
We, the undersigned Seller and/or Buyer/Borrower herein acknowledge the following as conditions of the
above referenced transaction:
1. All contingencies set forth in the Contract for Sale have been complied with in full;
2. All utility bills, including but not limited to water, sewer, gas, garbage and electric are the
responsibility of the undersigned parties, not the closing agents. All matters regarding utility bills
will be handled outside of closing;
3. The undersigned parties will fully cooperate if adjustment for clerical errors on any or all closing
documentation is necessary, and will sign such additional documents as are necessary to correct
such errors.
4. Calculations of payoff figures, or principal balance and escrow account balances and/or proration,
were based on information, whether obtained orally or in writing from your existing lender(s).
The closing agent will not be held liable for miscalculations as a result of errors made by the
lender(s). If there is/are discrepancies between the figures used in preparing the closing
statements, and future information provided by the lender(s) resulting in a demand by the
lender(s) for additional funds, seller will, upon request forward said funds forthwith;
S. Consent is hereby given, pursuant to Rule 4-186.008(3) of the Florida Administrative Code, to the
placement of the settlement funds for the transaction into an interest bearing account In the
name of First International Title, Inc.. The parties understand that interest earned or other
benefits earned, if any, on such account will be the property of First International Title, Inc.;
6. The undersigned parties understand and agree that any shortage in payments made to any debt
holder as a "courtesy" or "accommodation" payoff, that are not secured by the property (i.e.
credit cards, car loans, student loans, etc.) will be the sole responsibility of the borrower of said
debt.
7. _x--_ The proration of taxes reflected on the dosing statement has been made on the basis of
a tax figure calculated in compliance with instructions contained in the Purchase and Sale
Agreement for this transaction or is based upon instructions received from the parties to this
transaction if the Purchase and Sale Agreement does not contain instructions for tax proration.
OR
_ No prorations have been made for current years taxes per Instructions received for closing
and shall not be the liability of First International Title, Inc.,
The undersigned Owners of the above referenced property herein acknowledge they _have _X have
not filed for and received homestead exemption for orooertv taxes for the current vear.
PLEASE NOTEH If the final tax bill for the current year has not been
SELLER
BUYER
issued, the amount utilized for the purpose of this closing should be
INITIALS
considered an estimate and subject to change in the current and
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subsequent years, based on the value and tax rates assessed to the
rob the appropriate taxingauthorities.
We the undersigned understand that First International Title, Inc. is relying on the statements contained
herein to compute the applicable tax proration amounts between Sellers and Buyers and/or the
appropriate tax amount for the Lender's escrow account.
The closing agent will not be liable for any discrepancies that may arise in these proration figures when
the actual tax bills for the year of closing are available, or for any shortages in escrow accounts. Upon
receipt of the current tax statement, the undersigned parties will make proration adjustments between
themselves outside of the closing if the total proration difference exceeds $10.00.
1.
Darrick Bailey
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Emilio R. Martinez