|
Date: 2/24/2023
<br />RE: Escrow No. 4484-LG
<br />withholding without further mutual written instructions of Buyer and Seller in form satisfactory to Escrow Holder, together
<br />with the completion of Franchise Tax Board forms. Section 18662 of California Revenue and Taxation Code (as amended)
<br />requires a BUYER of real property to withhold if the Seller's exemption Is not met. If withholding is not made Buyer may
<br />become subject to a penalty in the amount equal to the greater of 10% of the amount required to be withheld or five
<br />hundred dollars ($500.00). For additional information, contact: FRANCHISE TAX BOARD, WITHHOLD AT SOURCE UNIT,
<br />P.O. BOX 651, SACRAMENTO, CA 95812-0651, PHONE: (916) 845-4900 OR Toll Free AT (888) 792-4900. Seller and
<br />Buyer hereby agree to comply with Section 18662 of California Revenue and Taxation Code (as amended), and Seller
<br />shall cause to be deposited into escrow such forms that may be necessary for the parties hereto to be in compliance with
<br />said tax code, as expanded. The parties agree to hold Escrow Holder harmless and indemnify Escrow Holder for
<br />complying with any CAL-FIRPTA instruction or any third -party claims that may arise.
<br />20. Buyer and Seller due dates: If the date by which Buyers or Sellers performances are due shall be other than a regular
<br />business day, such performances shall be due on the next succeeding business day.
<br />21. Personal Property Title Search: Golden Coast Escrow, Inc. shall conduct no lien or title search of personal property
<br />regarding the sale or transfer of any personal property through this escrow. Should the party(ies) desire that Escrow
<br />Holder conduct a lien or title search of personal property, the party(ies) requesting the same shall deliver separate and
<br />specific written escrow instructions to Escrow Holder along with an agreement to pay any additional escrow fees.
<br />22. Not to be concerned with usury of loan: Golden Coast Escrow, Inc. shall not be responsible in any way whatsoever nor
<br />are to be concerned with any question of usury in any loan or encumbrance, whether new or of record, which may arise
<br />during the processing of this escrow.
<br />23. Provide Title: Golden Coast Escrow, Inc. are instructed to provide title to the subject real property in the condition identified
<br />in the escrow instructions by the parties. Escrow Holder is not responsible for the contents or accuracy of any
<br />beneficiary demands and/or beneficiary statements delivered to Escrow Holder by the existing lien holders. Escrow
<br />Holder is not required to submit any such beneficiary statement and/or beneficiary demand to the party(ies) for approval
<br />before the close of escrow unless expressly instructed to do so in writing. Should the party(ies) desire to pre -approve
<br />any such beneficiary statement and/or beneficiary demand, the party(ies) requesting the same shall deliver separate and
<br />specific written escrow instructions to Escrow Holder.
<br />24. Loan terms or Loan Document content: Golden Coast Escrow, Inc. are not to be responsible in any way whatsoever nor
<br />to be concerned with the terms of any new loan or the content of any loan documents obtained by any party in connection
<br />with this escrow except to order such loan documents into the escrow file, transmit the loan documents to Buyer for
<br />execution and transmit the executed loan documents to Lender. The parties understand and agree that Escrow Holder is
<br />not involved nor concerned with the approval and/or processing of any loan or the contents and effect of loan documents
<br />prepared by a Lender.
<br />25. Third -Party Claims: The parties expressly indemnity and hold Escrow Holder harmless against third -party claims for any
<br />fees, costs or expenses where Escrow Holder has acted in good faith, with reasonable care and prudence and/or in
<br />compliance with these escrow instructions.
<br />26. Escrow Holder only: The parties agree that Golden Coast Escrow, Inc. have the responsibilities of an escrow holder only
<br />and there are no other legal relationships established in the terms and conditions of the escrow instructions. In connection
<br />with this escrow: (1) Escrow Holder shall have no duty or responsibility of notifying any of the parties to this escrow of
<br />any sale, resale, loan, exchange or other transaction involving any of the subject real property or personal property; (2)
<br />Escrow Holder shall have no responsibility or duty to disclose any benefit, including, but not limited to financial gain,
<br />realized by any person, firm or corporation involving any of the subject real property or personal property; and Escrow
<br />Holder (3) shall have no responsibility or duty to disclose any profit realized by any person, firm or corporation including,
<br />but not limited to, any real estate broker, real estate sales agent and/or a party to any other escrow, in connection
<br />therewith, although such other transaction may be handled by Escrow Holder in this escrow or in another escrow
<br />transaction. If, however, Escrow Holder is instructed in writing by any party, Lender or other entitled person to disclose
<br />any sale, resale, loan exchange or other transaction involving any of the subject real property or personal property or
<br />any profit realized by any person, firm or corporation to any party to this escrow, Escrow Holder shall do so without
<br />incurring any liability to any party. Escrow Holder shall not be liable for any acts or omission done in good faith nor for
<br />any claims, demands, losses or damages made or suffered by any party to this escrow, excepting such as may arise
<br />through or be caused by Escrow Holder willful neglect or gross misconduct.
<br />27. (6) Month period: Escrow holder agency shall terminate six (6) months following the date last set for close of escrow and
<br />shall be subject to earlier termination by receipt by Escrow Holder of mutually executed cancellation instructions. If this
<br />escrow was not closed or canceled within the described six (6) month period, Escrow Holder shall have no further
<br />obligations as escrow holder except to disburse funds and documents pursuant to written escrow instructions and to
<br />interplead or otherwise dispose of funds and documents in accordance with a validly issued and validly served order from
<br />a court of competent jurisdiction. If the conditions of this escrow have not been complied with at the expiration date in
<br />these escrow instructions, Escrow Holder is instructed to complete the conditions at the earliest possible date, unless Buyer
<br />Seller(s) Initials
<br />Buyer(s) Initials 4* c
<br />
|