Agenda Packet_2022-11-01 - Laserfiche WebLink

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General I'rovkiom Printed 1/1 /000 1 12 (K)AM by iK I.10000-o (DSI Rc% 05119'17) Pauc I 7. RIGHT OF CANCELLATION Any principal instructing you to cancel this escrow shall file notice of cancellation in your office in writing. You shall. within two (2) working days Ihereaf ter. deliver. one Copy ol'such notice to each oi'the other principal, at the addresses stated in this escrow. UNLESS WRITTEN OBJECTION 'fO CANCELLATION IS FILED IN YOUR OFFICE BY A PRINCIPAL N I I I HN TEN 110) DAYS AFTER D,1TL- OF SUCH DELIVERY. YOU ARE AUTHORIZED TO COMPLY WITH SUCH NOTICE AND DEMAND PAYMENT OF YOUR CANCELLATION CHARGES. If written objection is filed. you are authorized to hold all money and instruments in this escrow and take no further action until otherwise directed. either by the principals' mutual written instructions, or by final order ofa court of coin petent jurisdiction. S. PERSONAL PROPERILN, No emimination or insurance as to the amolml or payment ol'personal property wwr is required unless Specilicall\ requested, 13y signing these General Provisions. the parties to the escrow hereby acknowledge that they are indcmnilyrrlg the (.,crow }-folder against itm and all matters relating to any "[Wlk Sales" requirements. and instruct Escrow Agent to proceed vv ith the closing of e cro%% without any consideration of matter ofatn, nature whatsoever regarding "Bulk Sales" bring handled through escrow. 9. RIGHT OF RESIGNATION Escrow Holder h;,, the right to resign upon vv ritten notice delivered to 01C principals herein. l l' such right is exercised. all funds and docttnlents sha[I be returned to the }early v%ho deposited them and Escrovy I lolder shall hay e no liahilitY hereunder. 10, AL THORIZATION TO EXECUTE ASSIGNMENT OF HAZARD INSURANCE POLICIES Either Guyer. Seller and/or Lender may eland you the insurance agent's name and insurance policy information, and you are to execute, on behail'of the principals hereto. form assignments of interest in any insurance policy (other than title insurance) called for in this escrow, fonvard assignment and policy to the insurance agent. requesting that the insurer consent to such transfer and/or attach a loss payable clause and/or such other endorsements as mey be required. and 1`orward such policy (s) to the principals entitled thereto. It is not your responsibilit} to verilj the inlirrmation handed you or the assignability of said insurance. Your sole duty is to forward said retluest to insurance agent at close ofescrow. Further, there ;hull he no responsibility upon the part of Lscrow I lolder fo renew hazard insurance polic)•(S) upon exiliration ar olhenvise 1,cep it in force either durinprincipals, and outside ofescrow. 11. ACTION IN INTERPLEADER The principals hereto expressly agree that VOL]. as Escrow Holder. have (he absolute right at \'llnr election to file un action in inlerplcader requiring the principals to answer and lilipate their several claims and right, amonL, thenlsch es and v ou are authorized to deposit with the clerk of the court all docmnent, [md funds hell in this escrolt. In the even) such action Iiled. the principal, jointh and severally agree to pay votir Can,J1,1[iutl char,-,e; and cost,. expense, and reasonable atiorney's fee, vyhich you are reliuired to expend or incur in such mtcrplcader ,tclion. ftt notml thereof to be fixed and judznlent therefore to he rendered by the court. Upon the tiling of such action, you shall thereupon be fully released and dischar,ed front all obligolions imposed by the terms of this escrow or othertivise. 12. TERMINATION OF AGENCY OBLIGATION Il'there is no action taken on this escrow within six (6) months after the "time limit date" as set forth in the escro%+ instructions or written e"tension thercol. your agency obligation shall terminate at your option and all documents. monies or other items held by _N ou shall be returned to the parties depositing same. In the event Of cancellation of this escrow. whether it he at the request of any of the principals or otherwise. the I•ees and charges due l idelih National Mille Company, including expenditures incurred andlor authorized shall be borne equally bx the parties hereto iunless othern ise agreed to specifically). 13, CONFLICTING INSTRUCTIONS Upon receipt of any conflicting insh•uctions, you are to take no action in connection with this escrow until non -conflicting instructions are reccivcd from all of the principals to this escrow (snt?jecl to sections 7. 9. 11 and 12 above). 14. DELIVERI/RECEIPT Deli%ev to principals as used in these instructions unless other %i:e stated herein a to be by hand ill person to the principal. regular mail. emait or lax to ally of the contact information provided in these instructions. If delivered by regular mail receipt is determined to be 72 hours office such mailing. All documents, balances and statements due to the undersigned may be delivered to the contact information shown herein. Ail notices, Change of instrueuons. conloluulications and documents are to be delivered in writing to the oflice of Fidelity National Title Company as set North herein. 15, ST ITEIFEDE12AL CODE NOTIFICATIONS Accor0ing- to Federal Law. the seller. v+hen applicable. v+ill be requiNcl to compiete a sales activity report that vv ill be utilized to generate a 1099 statement to the hiternal Rek :IlttC Service. General Provisions Primed: I/l/0001 I200 AM by .III F100007() (DSI Rev 05/19/17) Paae 2 City Council 7 — 13 11 /1 /2022