Agenda Packet_2022-12-06 - Laserfiche WebLink

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Date: I 1712022 RE: Escrow No. 4437-LG Paragraph #6. Other Terms.; as sh4.,;n in said Purchase Contract, shall not be of any concern nar liability to escrow holders with the exception of the following: In addition to the original Purchase Contractr escrow holder has received Seller Counter Offers^ and Buyer Counter Offer # ^. Escrow Holder shall only be concerned with the following items, which are items not covered by paragraph 20: Regardinq 14.G. EFFECT OF CANCELLATION ON DEP€}SITS. Regardless of the language in this section, Buyer and Seller herein acknowledge that Escrow Holder will require mutual signed instructions for any release of funds and for escrow or contract -cancellation. Please Initial Seller(s) Initials7@7— Buyer(s) Initials , The following items are shown in these instructions for clarification pulposesr due to the fact that the original contract deposited into escrow contained blanks within the instructions to escrow holder: Costs and Charges. Buyer(s) hereby agree(s) to pay the following fees and charges through escrow: Buyer's Escrow Feer Recording Fees, Notary Fees, Lender`s Policy of Title Insurancer Federal Express/Delivery Fees if any, and all additional fees/charges as set forth in the Estimated Escrow Statement to be executed. Seller(s) hereby agree(s) to pay the fallowing fees and charges through escrow: Recording Fees, Notary Fees, Owner's Policy of Title Insurance, Seller's Escrow Fee, Document Preparationr County Transfer- Tax, Federal Expressr Delivery Fees, if any, Beneficiary Statement(s) and/or Demand(s) together with any amounts necessary to place title in condition called for, Commissions and any/all additional fees/charges as set forth in the Estimated Escrow Statement to be executed. Golden Coast Eserowr Inc, may be required to advance funds into this escrow, in order to expedite the processing of this transaction. All funds advanced shall be reimbursed to Golden Coast Escrow, Inc. at the closing of this escrow or upon the cancellation of this escrow, from the appropriate party(ies). Fire Insurance: Buyer herein will deposit with Escrow Holderr prior to the close of escr-otvr a new hazard insurance policy, acceptable to New Lender. Escrow Holder is instructed to charge Buyer and pay premium as billed at close of escr-owr unless, prior to close of escrow, a paid receipt for same is pro -sided to Escrow Holder. Property Disclosure Report.. Seller shall provide for benefit of the Buyer a 'Natural Hazard Disclosure Report: Escrow holder is authorized and instructed to pay the bill for from Sellers proceeds at the close of escrow. Please note Golden Coast Escrowr Inc., does not order these repoits, please forward the Natural Hazard report and invoice to your escrow officer as soon as possible. ESCROW HOLDER HAS NO RESP€}NSIBILITY TO PROVIDE, SAID REPORT AND IS HEREBY RELIEVED OF ANY AND ALL LIABILITY IN REFERENCE To REPORT'S FINDINGS AND REC'0MMENDATIONS. Preliminary Title Report Approval; This escrow is subject to the Buyer's approval of the preliminary report issued by the title company in this transaction. Buyer will be provided with a separate prelim approval letter by the escrow holder and prelim shall be deemed approved and this condition shall be satisfied, Preliminary Change of Ownership Report: Buyers will hand you before close of escrow a completed "Preliminary Change of Ownership' Report which you are instructed to file accompanied with the County Recorder, or, in the absence or rejection thereof you will pay from the buyer's funds an additional $20.00 to the County Recorder if required. Golden Coast Escrow, Inc. cannot guarantee the acceptance by the County Assessor's office of the POOR provided at the close of escrow. The undersigned buyer, or transferees hereby acknowledges that they may send a duplicate Preliminary Change of ownership report following the close of this escrow. Buyer's/Transferee's failure to- comply with the Assessor's request to complete information and return the form, may cause penalties or fines to be imposed. The undersigned hereby does and shall, indemnify and hold Golden Coast Escl-otvr Inc. harmless from and against all penalties, fines, costs, damages, losses, attorney fees, claims and liability of any nature whatsoever, which may arise in connection therewith. Cancellation of Escrow: AS A CONDITION OF ESCROW HOLDER ACCEPTING THE ESCROW AGENCY CREATED BY THE AGREEMENT AND THE SUPPLEMENTAL ESCROW INSTRUCTIONSr BUYER AND :SELLER ACKNOWLEDGE THEY UNDERSTAND AND CONSENT THAT REGARDLESS OF THE CONSUMMATION OF THIS TRANSACTION, ESCROW HOLDER'S MINIMUM CLERICAL FEE FOR THE PREPARATION OF THESE SUPPLEMENTAL INSTRUCT]ONS AND ANY ADDITIONAL DOCUMENTS HERETO SHALL BE NOT LESS THAN s200.00. ALL PARTIES FURTHER UNDERSTAND THAT ADDITIONAL FEES MAY ALSO BE CHARGED AS A RESULT OF THE CANCELLATION OF ESCROW. Sellers) InitialsSBuyer(s) Initials paq-a City Council 16 — 14 12/6/2022