EFTA00089309¶
HUDKINS LAW¶
Attorneys¶
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Jacqueline M. Hedkins
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Benjamin E. Percy
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Laura M. Tamesella
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Emily C. Goering
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Richard G. Anderson
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Martha L. Prizo
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Roema T. Moroun
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Dennis P. Vachon*
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Candice M. O’Neil*
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Greg Rocki*
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Admitted to Practice in NH & MA
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Admitted to Practice in VT & MA
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Admitted to Practice in MA & NJ
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Admitted to Practice in NH
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Admitted to Practice in MA
- Of counsel
Property Tax Disclaimer and Re-Proration Agreement¶
In order to complete the HUD Settlement Statement, it was necessary for Hudkins Law PLLC to obtain information concerning real estate property taxes and other municipal charges such as water, sewer, municipal assessments or betterments, insurance, electric, gas, oil or condominium fees as applicable (“Third Party Information”). Although every effort was made to obtain accurate information, we the undersigned Buyer and Seller hereby agree to hold Hudkins Law PLLC harmless for the accuracy of any and all Third Party Information obtained by Hudkins Law PLLC or provided to Hudkins Law PLLC.¶
We, Buyer and Seller acknowledge that Hudkins Law PLLC obtains Third Party Information through oral dialogue with various municipal employees and that in many cases, a written statement for Third Party Information is not available.¶
We, Buyer and Seller further acknowledge that it is common for a municipal tax collector to provide “estimated” property tax amounts due. Even if an actual tax bill is available, it could be an estimate of the tax payment that will ultimately be due for the current tax year and actual tax bills could contain errors or may not include penalties that could be attributed to the parcel being conveyed from the Seller to the Buyer. Current Use penalties may not be assessed until after the date of closing and may or may not be attributable to the Seller.¶
After the date of closing, in the event that such Third Party Information proves to be inaccurate or outdated, or if tax or other obligations or penalties are assessed after the closing date that may be attributable to the Seller, it shall be the responsibility of the Buyer and Seller to cooperatively re-adjust or re-prorate any amounts due or credited. If it is determined that the Buyer, Seller or Hudkins Law PLLC has made a disbursement or payment that should have been attributed to another party (a “Responsible Party”), the Responsible Party shall pay restitution to the party that made the payment on behalf of the Responsible Party.¶
Notwithstanding the provisions herein, the Buyer and Seller further represent and agree to the following:¶
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The payments, pro-rations and adjustments which have been computed and set forth on the Settlement Statement represent the good faith effort of the parties to allocate all items adjusted accordingly.
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Any prorated item which has been incorrectly adjusted in the computation of the pro-rations, upon delivery of such omission or error, shall be promptly readjusted.
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The undersigned parties agree to hold the Lender, {if applicable}, the title insurance company and Hudkins Law PLLC harmless therefrom.
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The Seller agrees to be responsible for any outstanding water or sewer liens and charges as of the date of closing, and any subsequent final readings.
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In the event that there are any outstanding real estate taxes, water or sewer liens and charges as of the date of closing, seller agrees to pay them forthwith upon receipt of a bill from the municipality.
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We, the undersigned Buyer and Seller, agree to indemnify and hold harmless Hudkins Law PLLC, the Buyer’s Lender (if applicable), for any adjustments or pro-rations which were made between the Buyer and Seller. Buyer and Seller agree that neither Hudkins Law PLLC or a Lender (if applicable), takes responsibility for these adjustments as they were negotiated.
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The provisions herein shall survive the delivery of the deed and the closing.
The Buyer and Seller have read and hereby acknowledge the understanding memorialized in this Property Tax Disclosure and Preparation Agreement and so on.¶