AG 2017 07 17 - Laserfiche WebLink

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reduction by the amount of the Commissioner's Fee, the Attorney agrees that as Commissioner, it shall be paid only to the extent available after payment of all amounts so ordered in the Order of Foreclosure plus the expenses incurred by the Attorney to advertise and give proper notice of public sale of such property. To this end, these expenses shall be added to the amount of taxes, fees and costs as ordered in the Order of Foreclosure to determine the opening bid by the County for purchase of such property from local funds. For purposes of illustration, compare the examples below where a typical 5%commission would be appropriate in a foreclosure with $3,000.00 of taxes, $1,500.00 of attorney fees and costs and $500.00 of advertising/notice of public sale expenses (Total without Commissioner's Fee $5,000): Example#1 - Coun1y as High Bidder& $5,000 In this example,the County is paid in full for the taxes and interest which have accrued to the date the Order of Foreclosure is entered,the Attorney is paid in full for the attorney fees and costs incurred to the date of the Order of Foreclosure, the expenses incurred by the Attorney to advertise and give proper notice of public sale are paid, but no Commissioner's Fee is paid. Example#2 - Other High Bidder k $5,100 In this example, all amounts outlined in Example#1 are paid,plus $100.00 of the $255.00 5% Commissioner's Fee is paid. Example#3 - Other High Bidder & $5,500 In this example, all amounts outlined in Example#1 are paid,the $275.00 5% Commissioner's Fee is paid, and$225.00 is paid to the Clerk to hold as surplus from the sale. 8. If the Taxpayer files a petition in bankruptcy during the period any foreclosure action brought pursuant to this agreement is pending,the Tax Collector shall file, as part of its claim to the bankruptcy court,the fees, costs and expenses set forth herein, and shall pay Attorney for such amounts within sixty(60) days of written notification to Tax Collector of such bankruptcy. If the Taxpayer's petition is dismissed or a lift of the stay of bankruptcy court is obtained during the term of this agreement, Attorney agrees to proceed with the foreclosure and complete the remaining services due from it hereunder. 9. If the County assigns to the Attorney, in any one assignment, more than one parcel owned by the same Taxpayer or Taxpayer(s) and none other and encumbered by the same liens, the County's obligation to pay the compensation set forth in Paragraphs 6, 7 and 8 shall be based on the following per parcel charge: 2 to 5 parcels, the same amount as set forth above per parcel; 6 to 10 parcels,the same amount as set forth above less fifty($50.00) dollars per parcel in cases of sole representation or less twenty five ($25.00) dollars per parcel in cases of joint representation, I 1 or more parcels, the same amount as set forth above less one hundred ($100.00)dollars per parcel in cases of sole representation or less fifty($50.00)dollars per parcel in cases of joint representation, plus all costs and expenses. 3 G-4 Page 154