Agenda Packet_2022-11-01 - Laserfiche WebLink

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Pursuant to State La%%. prior to the close of escrow. Buyer will provide Escrow Holder with a Preliminary Change of Ownership Report In the event said report is not handed to Escrow I lolder for suhnlissiora to the ('ourat) in which stihject property is located. upon recording of the (irant Deed. Buvers acknowledge that the applicable tee ++ill be assessed b+ "aid COnni+ and Escrow i loldcr shall debit the account of Buyer tier "arm at close of escl-cm. 16. NON-RESIDENT ALIEN file 1-oreign lm,c-,talent in Real Property 'I lt% Act (FIRPTA), Title 25 U.S.C.. Section 1445. and the regulations there under, provide in port, that a transleree (bu)cr, of a U.S. real property interest from a foreign person must withhold a statutory percentage of the amount realized on the disposition, report the transaction and t-cmit the withholding to the Internal Revenue Service (IRS) within twenty (20) days after the transfer. Fidelity National Title Company will not determine not- aid in (lie determination of whether the FIRPTA withholding provisions are applicable to Elie subject tnmscretion, nor act as a Qualified Substitute under state or 11cder:ll law, nor furnish tax advice to arly party to the transaction. Fidelity s'niiomd Title Compam ++ill not determine nor aid in the determination of whether the traatSaCliOn ++ill qualify lilr in reception or an e\L'ml�tion and is not responsible ]or the filing of any tax forms with the IRS as they relwe to FIRPIA, nor responsible liar collecting and holdirz of any dOCIIanCntatiOrl from the btu er or seller oil the bu)-er's behalf for the purpose of suppul-ting a claim ofan Oweption or exemption. Fidelity National Title C ompan) is not an agent for the buyer for the purposes of receiving and analyzing any evidence or documentation that the seher in the subject transaction is a U.S. citizen or resident alien. Fidelity National Title Company is not responsible for the payment ofthis lax and/or penalty and/or interest invurred in connection thereti%ith and such taxes are not a matter covered by the Owner's Policy of"I'ille Insurance to be issued to the buyer. Fidelity National Title Company is not responsible for the completion of any IRS documents or related forms related to the referenced statute lie htn'cr is advise{I: the) roust independently make a dcteaminalion ol' �%hailer the contemphited transaction is subject td the n ithholding reCluirenlent: hear full fur compliance with the c+ithha,lding requirement it' applicable and/or liar pa)menl of arty tux. iorCrest, penultic; and Or ether cxpcn.c.> that ma+ be due on the Subject traruartion_ and €he+ are responsible liar the completion of an) and ,dl forms. including. bin noa limited It) applicable IRS docunlentatton, and the in.dling of those forms. The Ru)cr is advised any lbrsns, documents. or information recci+ed from Fidelity National Title Company is not tax or legal udvicc fund s1101.11d not be construed as such nor treated its a complete representation of FIRPTA requirements. Buyer should seep: outside counsel from a qualified inclMdual to determine any and all implications of the referenced statute. 17. ENCUMBRANCES Escro+t Holder i,, to act upon uny statement, furnished h+ a henholeirc or his agent without liabilil+ or responsibility for the accurac+ of "Licit statements. Am atkjustnents necessan 11CCAlSe of a discrepancy hemeen the inli�rmation furnished Eserow holder and an) alnutiM later determined to he correct shall he settled hew,:,:n the parties direct and otuside ofcscrow. You are authorized. without the need for further approval. to debit my account for any fees and charges that I have agreed to pay in connection w ith this escrow, and for (in\ amounts that l ant obligated to pay to the holder of any lien or encumbrance to establish the title as insured by the polio) of title insurance called for in ttaesc insti-uctions. If for any reason my account is not debited for such amounts at the time of Closing• I agree to pay them inunediatcic upon &Wdnd. or to reimburse any other person or entity who has paid them. IS. ENVIRONNIENTAL ISSUES f idelih. National Title Company has made no investigation concerning said property as to environinenttl/toxic haste issues. An) clue cfiligertce required or needed to determine environmental impact as to forms of tosification. i1• applicable. will be done directly and by principals Outside of escroc+ Fidelity National Title Company is released of any responsibility and/or liability in connection therewith 19. USURY Escrow Holder is not to be concerned with any questions 01' usury in alay loan or cncumbiance involted in the processing of this escrtm and is hereby released ol'anv responsibility or liability therefore 20. DIyCLOSI RE Escrow Holder's i.nowledge of mutters a1'ti:ciing the property, providrd such facts do not prevent compliance +pith these instructions. sloe, not create :gym Iiabilit% or dut+ in addition to fhese instructions. 21. FACSIMILEIELECTRONIC SIGNATURE Escrow Holler is herehv authorized and instructed theft. in the event an+ party utilizes electronic or'Tacsimile" transmitted signed dticl1nrent5 or instructions to l scro�c I IOlder'. you are to rely on the same for all escrow instruction purposes and the closing of escrow us if they horn Original signatures. "Faeelronir ")'it, nmure means. as applicable. an electronic copy or signattu'e complying with California Law. 22. CLARIFICATION OF DUTIES Fidelity National Title Company serves ONLY as ail Escrow Holder in connection with these instructions and cannot give legal advice to any party hereto. Escrow Holder is not to be held accountable or liable for the sufficiency or correctness as to form, manner gal' execution, or validitc of any instrument deposited in this escrow. nor .as to the identit+. authority or rights of tin) person executing the same. l scro\% Holder's duties hereunder shall br limited t,+ the proper handiing 01'suCh 11301ley and the proper N,IfckeepinL of such insu-umerib. or other documents received b+ G.crow Holder and for the disposition of same in accordance with the written insu-ucliom iiCeepted by I.scro+c Holler_ The agency ;tad dutiCS OI' Iserow [ ]older commence only upon receipt of COpies of these Escrow Instructions eNwiml by all parties. General Provision. Prinked 1110001 12 00 AM tw J1, City Council 7 — 14 11/1/2022