Agenda Packet_2022-12-06 - Laserfiche WebLink

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Date; t "l.117i2022 RE; Escrow No. 4437-LG certified checks whenever possible. 4. Prorations; All adjustments and prorations called for in this escrow shall be rnade on the basis of a thirty (30) day month, unless otherwise instructed in writing. 5. Oral instructions: You are authorized to accept oral instructions from the parties' real estate brokers), real estate agent(s), Lende-,sj or Lender's agent(s) concerning the preparatio-n DF esfl-ow instructions, amendments or suppfe-nents. Hcwever, you are not to art upon any instruction so delivered until you have received the same in writing signed ny all parties to this esnaa4, 6. Loan Tennis: Golden Coast Escrow, Inc. is not to be responsible in any way whatsoever nor to be concerned with the terms of any new loan or the content of any loan documents obtained by any party in connection with this escrow except to order such loan documents into the escrow file, transmit the loan documents to Buyer for execution and transmit the executed loan documents to Lender. The parties understand and agree that you are not invahred nor concerned with the approval and/or processing of any loan or the contents and effect of loan documents prepared by a Lender. 7. Facsimile/Electronic Signature Certification: The Residential Purchase Contract and loin[ Escrow ?nstructions along with any supplements, addendums or counter offers made a part thereof (Agreement), and Dearing Electronic Signature(r) is a true, and complete copy of the Agreement entered into for the purchase of real property desnibed herein and escrow holder is hereby authorized and instructed to rely upon said Electronic .Signatures based uoan the fallowing €ertifi€atien, (i) The undersigned consented to the use of electronic records and signature in the creation and execution o.=toe Agreement and subsequent addenda to the agreement. If applicable. (ii) The undersigned did sign the Agreement using an electronic signature, (iii) The undersigned was given the opportunity to keen a copy of the signed Agreement at the time the agreement was sign ed. (iv) The Electroni€ Sig natures comply with the standards and requ'rement of the federal Electronic Signatures in Global and National commerce Act 'E-Sign) and, if applicable, the Uni'o-m Electronic Transaction Act (UETA) adapted by the state in which the Ele€troni: Sign a:ure „s initiated and the Agree rent in fulIV enforceable and legally binding in accordance with their terms. (v) The undersigned is signing to s certification to indemnify and ho d harmless the escrow holder from any past present, or future loss that may occur from relying upon and accepting the Agreement wi-h the electronic signatures affixed thereto. 3. Escrow Holder is hereby authorized and instructed that,. in .he event any party utilizes email or "facsimile" transmitted signed documents or instructions to Escrow Holder, Escrow Holder is to rely on the same for all escrow instruction purposes and the closing of escrow as if they are original signatures. 'Electronic Signature" means, as applicable, an electronic copy or signature complying with California Law, THESE ESCROW INSTRUCTIONS CANNOT BE SIGNED ELECTRONICALLYr NOR ANY AMENDMENT'S REFERRING TO RELEASING OF FUNDS. AND{OR BUYER OR SELLER CREDIT OR DEBIT ACCOUNTS, g. Instructions not to Supersede: These escrow instructions are executed for the sole purpose of enabling the Escrow Holder to complete this transaction, and are not intended to amend, modify, supersede or in any way change that certain agreement entered into by the parties hereto and dated prior to these escrow instructions. Golden coast Escrow, Inc., its officers and{or employees shall not be concerned with said agreement cr any matters as contained therein and is responsible only for such matters as are specifically set out above in the . ns.ruction. 10. Special Recording Late Confirrnation of Recording Seller's proceeds may not be available, and encumbrances may not be _ _ : =i. until the first bus ness day Fcl cr ing the day of recording if Q documents recorded at dose of escrow are rec:: aver in the day titian 0:00 a.m. (which is called a "special recording') or if 2) the county Recorder does not p :on€i—nation of reco ding wi—zhin sufficient time to allow same -day disbursement of funds by wire or check. 11. IIZS 1099 REPORTING: As a condition of Escrow Holders ag- _ = : v ocess tnis transact on, certain infcrmaitian must be provided by the Seller (s)/Transferor(s) to Escrow HD c= : _ - _ :-e date of closing. Under :he Ta-,: Reform Act;, Internal Revenue Service Code Section 6045(e), Escrow Holder __ . - the gross proceeds of an cwnershio interest in -eportable real estate to the "nte-nal Revenue Sere;oe ('IRS�, -' _ : = e Jra-sFeroris required oy law to Furnish a ccivect Taxpayer Identification Number ("TIN') ar Sc ©al Secu :. , _ -nber to Escrow Holder. The Seller/TransFeror is aware :h3: the =3ilure to do so may subject. the Se ler/Transfer: .o civil or -i raI penalties. Each Seller/Transferor -nust p -o,; de a permanent address to whA the Escrow Holder : -nai' th= : S Form I-M-S following the close of e3c 10 W. 12, Disbursement of Funds: Any funds disbursed during or o- :-e dose of escrow will be issued jointly to the parties designated as payees unless you are instructed otherwise i- - — by all designated payees. The funds representing loan and/or sale proceeds will be disbursed jointly to all perso-_ .,;- c were the record owners of the real property that is the subject oFthe escrow. All disburserrent3 cf funds and/or de,ivery of other documents or instruments concerning this escrow will be mailed to the Entitled part es oy regular first class mail, postage prepaid, at their respective addresses shown on file. However, at your discretion, you may send funds and/or other instruments or documents by certified or registered mail, federal express, messenger or facsimile ma€hiner in which care the party For whom the delivery was Seller(s) Initials SAv Buyer(a) Initials Page 4 City Council 16 — 16 12/6/2022