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Date: 1111712&22
<br />RE: Escrow No. 4437-LG
<br />made agrees to pay the costs. The provisions of this paragraph include, but are not limited to. requests for demand
<br />statements. requests for beneficiary Statements, requests for homeowners' association statements o- any other requests
<br />as you may deem necessary for the timely dosing of this escrow. You are to instruct the county recorder to mail recorded
<br />documents to the entitled parties at their respective addresses. You are to instruct the title company to mail the tide
<br />policy(r} to the Lenders} or Buyer(r) as appropriate.
<br />13. No Disclosures warranties: The parties acknowledge that depending on the type (Commercial or Residential) and
<br />location (City) of real property involved in -.his escrow, there may be disclosures) as well as civil ordinance
<br />requirements) that would affe€t the transfer of the real property. Escrow Holder urges both parties to seek appropriate
<br />counsel from an attorney or licensed real estate o,okerto ascertain what disclosures, certFcates and/or civil ordinances,
<br />if any, need to be complied with prior to the close of escrow, and outside of the escro-.; cetween the parties. The parties'
<br />signature upon these instructions sha.I ne deemed evidence to the Escrow Holder nat the parties have obtained
<br />independent counsel, are aware of any disclosures/civil ordinance requirements and will comply with same outside of this
<br />escrow. Unless otherwise instructed in writing Escrow Holder has no responsibility or liability in connection with any such
<br />disclosures or requirements;
<br />14. payment of Cost(S) Incurred Prior to close of Escrow: Buyer and Seller are aware Golden Coast Escrow, Inc. may
<br />incur certain expenses during the course of processing this escrow, which must be paid prior to the close of escrow. Such
<br />costs may include but are not limited to, credit report and appra sal fees, demand request fees, homeowners association
<br />document fees„ courier fees, overnight mail service and city oji ding revoits, if applicable. Escrow Holder is authorized
<br />and instructed to re ease funds for payment of such costs, prior to the close o= escrow, from funds deposited into escrow
<br />by Buyer. Both Buyer and Se'ler acknowledge and accept that said `unds are not refundable, whether this escrow closes
<br />or cancels, However, at close of escrow, Escrow Holder is auzho-zed and instructed to charge the appropriate party for
<br />costs incurred, and is released from any and all liability in con ne-ton wi_h complying with this instruction.
<br />15. Responsibilities: The parties agree that yvi have .he responsibilities of an escrow holder only and there are no other
<br />legal relationships established in the terms and cv7dirions of the escrow instructions. In connection with this escrow: (1)
<br />you shall have no duty or responsibility of notifying any of the parties to this escrow of any Baler resale. loan,
<br />exchange or other transaction involving any of the subject real property or personal property; (2) you shal have no
<br />responsibility or duty to disclose any benefit, including, but not limited to financial gain, realized by any person, firm or
<br />corporation involving any of the subject real property or personal property, and (3) you shall have no responsibility or
<br />duty to disclose any profit realized by any person, firm or corporation including, but not limited to, any real estate
<br />broker, real estate sales agent and/or a party to any other escrow, in connection therewith, although such other
<br />transaction may be handled by you in this escrow or in another escrow transaction. if, however, you are instructed in
<br />writing by any party, Lender or other entitled person o discose any sale, resale, loan exchange or other transaction
<br />involving any of the subject real property or oe-sonal property or any profit-eahzed by any person, firm or
<br />corporation to any party to this eRyow, you shall do so s,�tncut incurring any liabilit-.v to any party. You shall no- be
<br />liable for any of your acts or omission done in good fa to nor for any dairrrsr demands, losses or damages mace o
<br />suffered by any party to this escrow, excepting such as -nay arise through or be caused by you willful neglect ar gross
<br />misconduct.
<br />16. Disclosure Reports: Escrow Holder is not to be concerned with disclosures le by the parties to each other, in the
<br />event Escrow Holder receives any disclosure reports requiring signatures or ap_ oval by a party, Escrow Holders only
<br />responsibility will be to forward the report to the appropriate party.
<br />17. Golden Coast Escrow, Inc. shall not ba responsible for the following: (1; = e iJ~ iciency or correctness as to farm,
<br />manner of execution or validity of any documents deposited in this escrow-, _ - = den", authority. or right of any
<br />person executing the same, either as to documents of record or those handle_ this escrow; or t3) he failure of any
<br />party to comply with any of the provisions of any agreemenC. contract or ot-.er instrument flied or deposited in this
<br />escrow or referred to in these escrow instructions. Your dut"es shall be imited to the safekeeping of money and
<br />documents received by you, as escrow holder, and for the discos can in compliance with the written instructions accepted
<br />by you in this escrow. You shall not be required to take any act on regarding the collection, maturity, or apparent outlaw
<br />of any obligations deposited with you unless otherwise instructed in writing. You shall not be liable for any of your acts or
<br />omissions done in good faith, nor for any claims, demands ,lDss?es or damages made, claimed o- su'fered by any party to
<br />this escrow, excepting such as may arise.
<br />18. FIRPTA-Withholding: FIRPTA-W-THHOLDING, The sale of a U.S. real property interest by a foreign ce scn is subject to
<br />the Foreign Investment in Real property Tax Act of 1980 (FIRPTA) income tax withholding. Persons ourcnasiing U.S. real
<br />property interests from foreign persons, certain purchasers' holders, and settlement officers are required to withhold 1.0
<br />% of the amount realized. Withholding is intended to ensure U.S. taxation of gains realized on disposition of such
<br />interests. The Buyer shall remain the withholding holder notwithstanding any act by the Escrow Holde . The Buyer must
<br />find out if Seller is a foreign person. If Seller is a foreign person and Buyer fails to w•i_hhold, t°ne Buyer -nay be theld liable
<br />for the tax. Seller and Buyer agree to execute and deliver to Escro-w Ho der any instrunent. af`davilt and s_a_e-nent o-x
<br />perform any act reasonably necessary to carry out the provisions of FIRPTA and regulations p-ho-nulgated .hereunder.
<br />Seller herein certfes under penalty of perjury, that the in orrra=ion p-oo ded on said 'orm is true. correct and complete.
<br />Buye:- and Sel e- nereby agree to hold Escrow Holder harmless and inde-nnify Escrow Holder rega-ding co-npl ance wrtn
<br />this insiruc-:ion.
<br />19. Cal FIRPTA State Tax Withholding: Notifications to Buyer and Seller Regarding California Tax Withholding on the Sale
<br />Seller(s) Initials Buyer(s) Initials
<br />Page S
<br />City Council 16 — 17 12/6/2022
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