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POPOCA, SANTOS BAHENA AND POPOCA, PETRA
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Last modified
10/5/2020 2:55:13 PM
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10/5/2020 2:54:14 PM
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Contracts
Company Name
POPOCA, SANTOS BAHENA AND POPOCA, PETRA
Contract #
A-2020-163
Agency
Public Works
Council Approval Date
8/18/2020
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EXHIBIT "B" (Commonwealth Land Title Insurance Company) <br />GENERAL ESCROW PROVISIONS <br />All disbursements shall be made by Escrow's check. All funds received in this escrow shall be <br />deposited in one or more of your general escrow accounts with any bank doing business in the State <br />of California and may be transferred to any other general escrow account or accounts. The <br />expression "close of escrow" means the date on which instruments referred to herein are filed for <br />record. All adjustments are to be made on the basis of a 30-day month. Recordation of any <br />instruments delivered through this escrow, if necessary or proper in the issuance of a policy of title <br />insurance called for, is hereby authorized. <br />There shall be no proration of any existing insurance policies in this escrow. <br />You are to furnish a copy of these instructions, amendments thereto, closing statements and/or any <br />other documents deposited in this escrow to the lender or lenders, the real estate broker or brokers <br />and/or the attorney or attorneys involved in this transaction upon request of such lenders, brokers or <br />attorneys. <br />Should you before or after close of escrow receive or become aware of any conflicting demands or <br />claims with respect to this escrow or the rights of any of the parties hereto, or any money or property <br />deposited herein affected hereby, you shall have the right to discontinue any or all further acts on <br />your part until such conflict Is resolved to your satisfaction, and you shall have the further right to <br />commence or defend any action or proceedings for the determination of such conflict, The parties <br />hereto jointly and severally agree to pay all costs, damages, judgments and expenses, including <br />reasonable attorney's fees, suffered or incurred by you in connection with, or arising out of this <br />escrow, including, but without limiting the generality of the foregoing, a suit in interpleader brought by <br />you. In the event you file a suit in interpleader, you shall ipso facto be fully released and discharged <br />from all obligations imposed upon you in this escrow. <br />If for any reason funds are retained or remain in escrow, you are to deduct therefrom a reasonable <br />monthly charge as custodian thereof of not less than $10.00 per month. <br />Time is declared to be the essence of these instructions. If you are unable to comply within the time <br />specified herein and such additional time as is required to make an examination of the official <br />records, you will return all documents, money or property to the party entitled thereto upon <br />satisfactory written demand and authorization. Any amendment of and/or supplement to any <br />instructions must be in writing. The seller agrees to sell and the buyer agrees to buy the property <br />herein described upon the terms hereof. <br />These escrow instructions, and amendments hereto, may be executed in one or more counterparts, <br />each of which independently shall have the same effect as if it were the original, and all of which <br />taken together shall constitute one and the same instruction. <br />
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