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COUNTY OF ORANGE (14)
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COUNTY OF ORANGE (14)
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Last modified
5/4/2023 1:34:25 PM
Creation date
4/27/2023 5:06:14 PM
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Contracts
Company Name
COUNTY OF ORANGE
Contract #
A-2022-197
Agency
Public Works
Council Approval Date
10/4/2022
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(b) Such other documents as may be reasonably required by <br />Title Company in order to issue the City Title Policy, if requested, or otherwise required to transfer <br />the City Property to County in accordance with the terms of this Agreement. <br />6.4 ClosinL Instructions. At such time as the conditions precedent to the <br />Closing have been satisfied or waived, City shall: <br />6.4.1 Collate the counterparts of the Exchange Agreement into two fully <br />executed counterparts; <br />6.4.2 Date, as of the Closing, all instruments calling for a date; <br />6.4.3 Record the City Deed, and the County Deed in the Official Records <br />of Orange County, California ("Official Records"); <br />6.4.4 D liv to City the County Title Policy, and to County the City Title <br />Policy, if so requested. <br />6.5 Post -Closing Matters. After the Closing the City shall deliver the <br />following: <br />6.5.1 To Citv: A copy, as recorded, of the deed for the County Property. <br />6.5.2 To County: A copy, as recorded, of the deed for the City Property, <br />6.5.3 jQ—Qgu—n_ty Counsel. Counsel for County: Copies of all documents <br />to be delivered to City pursuant to Section 6.5.1 above. <br />6.5A To City Attorney, Counsel for City: Copies of all documents to be <br />delivered to County pursuant to & ion k 2 above. <br />Costs and Prorations. <br />7.1 Pr ma 'on . The Parties shall prorate all non -delinquent real property taxes <br />and assessments, as applicable, as to the County Property between City and County as of the <br />Closing based upon a 365-day year and based upon the latest available tax bill. The Parties agree <br />that if such proration is inaccurate because the latest available tax bill does not represent the taxes <br />actually assessed, then the Parties will, as soon as tax bills actually covering the period during <br />which the Closing takes place are available, make such further adjustments as may be appropriate <br />so that each Party shall have home all taxes allocable to the period during which it was the owner <br />of its respective property. <br />7.2 Title and Other Costs. <br />7.2.1 County shall pay the premium for the City Title Policy, if such <br />policy is requested by the County, and City shall pay the premium for the County Title Policy, if <br />such policy is requested by City. <br />7.2.2 City shall pay documentary transfer taxes, if any, as specified on the <br />Documentary Transfer Tax Statement. <br />Projt4N=v. Santa Ana Pm "Exchange <br />
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