My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
Agenda Packet_2022-05-03
Clerk
>
Agenda Packets / Staff Reports
>
City Council (2004 - Present)
>
2022
>
05/03/2022 Special and Regular & HA
>
Agenda Packet_2022-05-03
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
4/28/2022 10:10:44 AM
Creation date
4/28/2022 9:49:52 AM
Metadata
Fields
Template:
City Clerk
Doc Type
Agenda Packet
Date
5/3/2022
Jump to thumbnail
< previous set
next set >
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
1321
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
DocuSign Envelope ID:A43F09A5-E094-42413-89137-8241 CD31313584 <br /> EXHIBIT "B" (Fidelity National Title) <br /> GENERAL ESCROW PROVISIONS <br /> 1.DEPOSIT OF FUNDS <br /> The law dealing with the disbursement of funds requires that all funds be available for withdrawal as a matter of right by the title entity's escrow <br /> and/or sub escrow account prior to disbursement of any funds. Only wire-transferred funds can be given immediate availability upon deposit. <br /> Cashier's checks,teller's checks and Certified checks may be available one business day after deposit.All other funds such as personal,corporate or <br /> partnership checks and drafts are subject to mandatory holding periods which may cause material delays in disbursement of funds in this escrow.In <br /> order to avoid delays, all fundings should be wire transferred. Outgoing wire transfers will not be authorized until confirmation of the respective <br /> incoming wire transfer or of availability of deposited checks. <br /> Deposit of funds into general escrow trust account unless instructed otherwise. You may instruct Escrow Holder to deposit your funds into an <br /> interest bearing account by signing and returning the"Escrow Instructions-Interest Bearing Account",which has been provided to you.If you do <br /> not so instruct us,then all funds received in this escrow shall be deposited with other escrow funds in one or more general escrow trust accounts, <br /> which include both non-interest bearing demand accounts and other depository accounts of Escrow Holder,in any state or national bank or savings <br /> and loan association insured by the Federal Deposit Insurance Corporation(the"depository institutions")and may be transferred to any other such <br /> escrow trust accounts of Escrow Holder or one of its affiliates, either within or outside the State of California.A general escrow trust account is <br /> restricted and protected against claims by third parties and creditors of Escrow Holder and its affiliates. <br /> Receipt of benefits by Escrow Holder and affiliates. The parties to this escrow acknowledge that the maintenance of such general escrow trust <br /> accounts with some depository institutions may result in Escrow Holder or its affiliates being provided with an array of bank services, <br /> accommodations or other benefits by the depository institution. Some or all of these benefits may be considered interest due you under California <br /> Insurance Code Section 12413.5. Escrow Holder or its affiliates also may elect to enter into other business transactions with or obtain loans for <br /> investment or other purposes from the depository institution.All such services,accommodations,and other benefits shall accrue to Escrow Holder <br /> or its affiliates and Escrow Holder shall have no obligation to account to the parties to this escrow for the value of such services,accommodations, <br /> interest or other benefits. <br /> Said funds will not earn interest unless the instructions otherwise specifically state that funds shall be deposited in an interest-bearing account.All <br /> disbursements shall be made by check of Fidelity National Title Company. The principals to this escrow are hereby notified that the funds <br /> deposited herein are insured only to the limit provided by the Federal Deposit Insurance Corporation.Any instruction for bank wire will provide <br /> reasonable time or notice for Escrow Holder's compliance with such instruction.Escrow Holders sole duty and responsibility shall be to place said <br /> wire transfer instructions with its wiring bank upon confirmation of(1)satisfaction of conditions precedent or(2)document recordation at close of <br /> escrow.Escrow Holder will NOT be held responsible for lost interest due to wire delays caused by any bank or the Federal Reserve System,and <br /> recommends that all parties make themselves aware of banking regulations with regard to placement of wires. <br /> In the event there is insufficient time to place a wire upon any such confirmation or the wires have closed for the day,the parties agree to provide <br /> written instructions for an alternative method of disbursement. WITHOUT AN ALTERNATIVE DISBURSEMENT INSTRUCTION, FUNDS <br /> WILL BE HELD IN TRUST IN A NON-INTEREST BEARING ACCOUNT UNTIL THE NEXT OPPORTUNITY FOR WIRE PLACEMENT. <br /> 2.PRORATIONS AND ADJUSTMENTS <br /> All prorations and/or adjustments called for in this escrow are to be made on the basis of a thirty (30)day month unless otherwise instructed in <br /> writing.You are to use information contained on last available tax statement,rental statement as provided by the Seller,beneficiary's statement and <br /> fire insurance policy delivered into escrow for the prorations provided for herein. <br /> 3.SUPPLEMENTAL TAXES <br /> The within described property may be subject to supplemental real property taxes due to the change of ownership taking place through this or a <br /> previous escrow transaction. Any supplemental real property taxes arising as a result of the transfer of the property to Buyer shall be the sole <br /> responsibility of Buyer and any supplemental real property taxes arising prior to the closing date shall be the sole responsibility of the Seller.TAX <br /> BILLS OR REFUNDS ISSUED AFTER CLOSE OF ESCROW SHALL BE HANDLED DIRECTLY BETWEEN BUYER AND SELLER. <br /> 4.UTILITIES/POSSESSION <br /> Transfer of utilities and possession of the premises are to be settled by the parties directly and outside escrow. <br /> 5.PREPARATION AND RECORDATION OF INSTRUMENTS <br /> Escrow Holder is authorized to prepare,obtain,record and deliver the necessary instruments to carry out the terms and conditions of this escrow <br /> and to order the policy of title insurance to be issued at close of escrow as called for in these instructions. Close of escrow shall mean the date <br /> instruments are recorded. <br /> 6.AUTHORIZATION TO FURNISH COPIES <br /> You are authorized to furnish copies of these instructions, supplements, amendments,notices of cancellation and closing statements,to the Real <br /> Estate Broker(s)and Lender(s)named in this escrow. <br /> City Council 20 — 11 5/3/2022 <br />
The URL can be used to link to this page
Your browser does not support the video tag.