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MORRISON, TOM AND PATRICIA, HSIEH, JIMMY AND MARQUEZ, NATALIE (2)
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MORRISON, TOM AND PATRICIA, HSIEH, JIMMY AND MARQUEZ, NATALIE (2)
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2/13/2023 1:39:31 PM
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2/13/2023 1:38:52 PM
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Company Name
MORRISON, TOM AND PATRICIA, HSIEH, JIMMY AND MARQUEZ, NATALIE
Contract #
A-2022-195-01
Agency
Public Works
Council Approval Date
10/4/2022
Destruction Year
0
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withholding provisions are applicable to the subject transaction, nor act as a Qualified Substitute under state or federal law, nor furnish <br />tax advice to any party to the transaction. Commonwealth Land Title Company will not determine nor aid in the determination of <br />whether the transaction will qualify for an exception or an exemption and is not responsible for the filing of any tax forms with the IRS as <br />they relate to FIRPTA, nor responsible for collecting and holding of any documentation from the buyer or seller on the buyer's behalf for <br />the purpose of supporting a claim of an exception or exemption. Commonwealth Land Title Company is not an agent for the buyer for <br />the purposes of receiving and analyzing any evidence or documentation that the seller in the subject transaction is a U.S. citizen or <br />resident alien. Commonwealth Land Title Company is not responsible for the payment of this tax and/or penalty and/or interest <br />incurred in connection therewith and such taxes are not a matter covered by the Owner's Policy of Title Insurance to be issued to the <br />buyer. Commonwealth Land Title Company is not responsible for the completion of any IRS documents or related forms related to <br />the referenced statute. The buyer is advised: they must independently make a determination of whether the contemplated transaction is <br />subject to the withholding requirement; bear full responsibility for compliance with the withholding requirement if applicable and/or for <br />payment of any tax, interest, penalties and/or other expenses that may be due on the subject transaction; and they are responsible for <br />the completion of any and all forms, including but not limited to applicable IRS documentation, and the mailing of those forms. The <br />Buyer is advised any forms, documents, or information received from Commonwealth Land Title Company is not tax or legal advice <br />and should not be construed as such nor treated as a complete representation of FIRPTA requirements. Buyer should seek outside <br />counsel from a qualified individual to determine any and all implications of the referenced statute. <br />17. ENCUMBRANCES <br />Escrow Holder is to act upon any statements furnished by a Iienholder or his agent without liability or responsibility for the accuracy of <br />such statements. Any adjustments necessary because of a discrepancy between the information furnished Escrow Holder and any <br />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 pay in <br />connection with this escrow, and for any amounts that I am obligated to pay to the holder of any lien or encumbrance to establish the <br />title as insured by the policy of title insurance called for in these instructions. If for any reason my account is not debited for such <br />amounts at the time of closing, I agree to pay them immediately upon demand, or to reimburse any other person or entity who has paid <br />them. <br />18. ENVIRONMENTAL ISSUES <br />Commonwealth Land Title Company 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 directly <br />and by principals outside of escrow. Commonwealth Land Title Company is released of any responsibility and/or liability in <br />connection therewith. <br />19. USURY <br />Escrow Holder is not to be concerned with any questions of usury in any loan or encumbrance involved in the processing of this escrow <br />and is hereby released of any responsibility or liability therefore. <br />20. DISCLOSURE <br />Escrow Holder's knowledge of matters affecting the property, provided such facts do not prevent compliance with these instructions, <br />does not create any liability or duty in addition to these instructions. <br />21. FACSIMILE/ELECTRONIC SIGNATURE <br />Escrow Holder is hereby authorized and instructed that, in the event any party utilizes electronic or "facsimile" transmitted signed <br />documents or instructions to Escrow Holder, you are to rely on the same for all escrow instruction purposes and the closing of escrow <br />as if they bore original signatures. "Electronic Signature" means, as applicable, an electronic copy or signature complying with <br />California Law. <br />22. CLARIFICATION OF DUTIES <br />Commonwealth Land Title Company serves ONLY as an Escrow Holder in connection with these instructions and cannot give legal <br />advice to any party hereto. <br />Escrow Holder is not to be held accountable or liable for the sufficiency or correctness as to form, manner of execution, or validity of <br />any instrument deposited in this escrow, nor as to the identity, authority or rights of any person executing the same. Escrow Holder's <br />duties hereunder shall be limited to the proper handling of such money and the proper safekeeping of such instruments, or other <br />documents received by Escrow Holder, and for the disposition of same in accordance with the written instructions accepted by Escrow <br />Holder. <br />The agency and duties of Escrow Holder commence only upon receipt of copies of these Escrow Instructions executed by all parties. <br />23. FUNDS HELD IN ESCROW <br />When the company has funds remaining in escrow over 90 days after close of escrow or estimated close of escrow, the Company shall <br />impose a monthly holding fee of $25.00 that is to be charged against the funds held by the Company. <br />General Provisions Printed: 0/0/0000 0:00 AM by TKO <br />E1000076 (DSI Rev. 05/19/17) Page 5 Escrow No.: 09185919-918-GKD <br />
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