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Last modified
3/9/2021 11:46:37 AM
Creation date
3/9/2021 11:39:53 AM
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Contracts
Company Name
DYER 18 LLC
Contract #
A-2021-028
Agency
Community Development
Council Approval Date
3/2/2021
Expiration Date
1/31/2036
Destruction Year
2041
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monetary encumbrances appearing of record as a result of any action or inaction <br />by Lessee during the Purchase Option Term). <br />d) Taxes. Non -delinquent general, special and supplemental real property taxes and <br />assessments; provided however, all delinquent taxes and assessments relating to <br />the period following the Commencement Date of the Lease are the responsibility <br />of Lessee pursuant to this Lease and shall be paid by Lessee at Closing. <br />e) Printed Exceptions. Matters shown as printed exceptions in the standard form of <br />Owner's Policy of Title Insurance. <br />Title Insurance. Lessor shall cause to be delivered to Lessee upon the Close of Purchase <br />Option Escrow, an ALTA standard coverage owner's policy of title insurance on the <br />Premises issued by Escrow Holder with policy limits equal to the Purchase Price and <br />insuring title to the Premises in the condition set forth above and otherwise vested in <br />Lessee. Lessee shall have the right to request issuance of an ALTA extended coverage <br />owner's policy of title insurance and any endorsements it may require, but the Closing <br />shall not be delayed or conditioned on the issuance of same. Lessee shall obtain, at its <br />sole cost and expense, any survey required to obtain any such extended coverage Title <br />insurance, and the obtaining or failure to obtain any such survey shall not delay the <br />Closing. <br />69.13, Additional Closing Documents As part of the Closing, the parties shall execute and <br />deliver the following additional documents to the Escrow Holder: <br />a) Lessor and Lessee shall execute and deliver an Assignment and Assumption of <br />Lease; <br />b) Lessor shall execute and deliver a Bill of Sale and General Assignment; <br />c) Lessor shall execute and deliver a Transferor's Certification of Non -Foreign <br />Status, together with a California Form 593-C, reflecting that no tax withholding <br />is required; and <br />d) Lessor and Lessee shall deliver such additional, customary escrow closing <br />documents and instruments as Escrow Holder shall reasonably require, including <br />appropriate evidence of authority and a customary owner's affidavit. <br />The Grant Deed and those documents specified in Paragraphs 69.9 (a), (b) and (c) shall <br />be prepared by Lessor and delivered to Lessee for review and approval not later than ten <br />(10) days prior to the Scheduled Closing Date. The exact form and content of such <br />documents shall be subject to good faith negotiation by lessor and Lessee and the failure <br />of Lessor and Lessee to agree upon the form of such documents not later than 2 Business <br />Days prior to the Scheduled Closing Date shall constitute the failure of a.condition of <br />closing, and either parry shall then have the right to terminate the Purchase Option and <br />the sale of the Premises. <br />69.14. Prorations and Credits. Pursuant to the terms of the Lease, all real property taxes and <br />assessments and utilities are to be paid by Lessee and as such no prorations for the same <br />are to be made. <br />17 <br />12926447.1 <br />
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