Laserfiche WebLink
13. CONFLICTING INSTRUCTIONS <br />Upon receipt of any conflicting instructions, you are to take no action in connection with this escrow until non -conflicting <br />instructions are received from all of the principals to this escrow (subject to sections 7, 9, 11 and 12 above). <br />14. REIMBURSEMENT ATTORNEY FEES/ESCROW HOLDER <br />In the event that a suit is brought by any party or parties to these escrow instructions to which the Escrow Holder is named as <br />a party which results in a judgment in favor of the Escrow Holder and against a principal or principals herein, the principals or <br />principals' agent agree to pay said Escrow Holder all costs, expenses and reasonable attorney's fees which it may expend or <br />incur in said suit, the amount thereof to be fixed and judgment therefore to be rendered by the court in said suit. <br />15. DELIVERY/RECEIPT <br />Delivery to principals as used in these instructions unless otherwise stated herein is to be by regular mail, and receipt is <br />determined to be 72 hours after such mailing. All documents, balances and statements due to the undersigned are to be mailed <br />to the address shown herein. All notices, change of instructions, communications and documents are to be delivered in writing <br />to the office of Ticor Title Company of California as set forth herein. <br />16. STATEMEDERAL CODE NOTIFICATIONS <br />According to Federal Law, the Seller, when applicable, will be required to complete a sales activity report that will be utilized <br />to generate a 1099 statement to the Internal Revenue Service. <br />Pursuant to State Law, prior to the close of escrow, Buyer will provide Escrow Holder with a Preliminary Change of Ownership <br />Report. In the event said report is not handed to Escrow Holder for submission to the County in which subject property is <br />located, upon recording of the Grant Deed, Buyers acknowledge that the applicable fee will be assessed by said County and <br />Escrow Holder shall debit the account of Buyer for same at close of escrow. <br />17. NON-RESIDENT ALIEN <br />The Foreign Investment in Real Property Tax Act (FIRPTA), Title 26 U.S.C., Section 1445, and the regulations there under, <br />provide in part, that a transferee (buyer) of a U.S. real property interest from a foreign person (non-resident alien) must withhold <br />a tax equal to ten percent (10%) of the amount realized on the disposition, report the transaction and remit the withholding to <br />the Internal Revenue Service within twenty (20) days after the transfer. Ticor Title Company of California has not and will <br />not participate in any determination of whether the FIRPTA tax provisions are applicable to the subject transaction, nor act as <br />a Qualified Substitute nor furnish tax advice to any party to the transaction. Ticor Title Company of California is not <br />responsible for determining whether the transaction will qualify for an exception or an exemption and is not responsible for the <br />filing of any tax forms with the Internal Revenue Service as they relate to FIRPTA. Ticor Title Company of California is not <br />the agent for the buyer for the purposes of receiving and analyzing any evidence or documentation that the Seller in the subject <br />transaction is a U.S. citizen or resident alien. The buyer is advised they must independently make a determination of whether <br />the contemplated transaction is taxable or non-taxable and the applicability of the withholding requirement to the subject <br />transaction, and should seek the advice of their attorney or accountant. Ticor Title Company of California is not responsible <br />for the payment of this tax and/or and penalty and/or interest incurred in connection therewith and such taxes are not a matter <br />covered by the Owner's Policy of Title Insurance to be issued to the Buyer. The Buyer is advised they bear full responsibility <br />for compliance with the tax withholding requirement if applicable and/or for payment of any tax, interest, penalties and/or other <br />expenses that may be due on the subject transaction. <br />18. ENCUMBRANCES <br />Escrow Holder is to act upon any statements furnished by a lienholder or his agent without liability or responsibility for the <br />accuracy of such statements. Any adjustments necessary because of a discrepancy between the information furnished Escrow <br />Holder and any amount later determined to be correct shall be settled between the parties direct and outside of escrow. <br />You are authorized, without the need for further approval, to debit my account for any fees and charges that I have agreed to <br />pay in connection with this escrow, and for any amounts that I am obligated to pay to the holder of any lien or encumbrance to <br />establish the title as insured by the policy of title insurance called for in these instructions. If for any reason my account is not <br />debited for such amounts at the time of closing, I agree to pay them immediately upon demand, or to reimburse any other person <br />or entity who has paid them. <br />19. ENVIRONMENTAL ISSUES <br />Ticor Title Company of California has made no investigation concerning said property as to environmental/toxic waste issues. <br />Any due diligence required or needed to determine environmental impact as to forms of toxification, if applicable, will be done <br />directly and by principals outside of escrow. Ticor Title Company of California is released of any responsibility and/or <br />liability in connection therewith. <br />Seller: Buyer: 0!!!-- <br />