Approved Closing Costs

Example Definitions of "Approved Closing Costs"
Approved Closing Costs. With respect to the Approved Sale of a Release Property, all reasonable and customary closing costs and adjustments not to exceed the lesser of: (a) five percent (5%) of the applicable Gross Sale Proceeds, or (b) the amount actually incurred and paid by Borrower (without contribution by the contract buyer) and reasonably approved by Lender, including, without limitation, title insurance premiums and charges, the contributions made by Borrower to buyer's closing costs, broker's commissions,... attorneys' fees, recording charges, transfer taxes and other customary closing costs (but expressly excluding any approved holdback or any amount Borrower is required to pay on account of common area charges or real estate taxes) View More
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