Gillis et al v. Wilhelm et al

Filing 176

ORDER: CWC is hereby authorized to sell the Premises pursuant to the terms of the Contract of Sale to the Purchaser, or to a Controlled Affiliate of the Purchaser to whom/which the Purchaser may assign the Contract of Sale pursuant to Section 17.1 thereof, and,, Julie Kelly and Fred Kaplan, CWC's officers,, are hereby authorized to execute such documents as are necessary and appropriate to effectuate the Sale in accordance with the terms of this Order. CWC and its officers, including Julie Kelly and Fred Kaplan, are directed upon the closing of the Sale to apply so much of the "Purchase Price" referenced in Section 2 of the Contract of Sale (the "Purchase Price") as may be necessary to (l) satisfy and extinguish the Mortgage, including payment of the outstanding principal, accrued interest, late charges, and professional fees and costs to which the Amalgamated Bank may be entitled the under the terms of the Mortgage documents and (2) pay the following, and only the following, usual and customary expenses associated with the Sale, up to a maximum aggregate total for all such expenses of $896,406.25, consisting of: NY City Real Property Transfer Tax (estimated to be $436,406.25), NY State Real Property Transfer Tax (estimated to be $66,500), Legal fees (estimated to be $125,000.00), brokerage fees and recording charges (estimated to be $168,500.00), and up to $100,000.00 for tax and closing adjustments actually and reasonably incurred by CWC. (Signed by Judge George B. Daniels on 5/10/2010) (jpo)

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