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Item 14 - Real Property Purchase Agreement: 10th and Flower Park Project
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Item 14 - Real Property Purchase Agreement: 10th and Flower Park Project
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8/10/2023 5:11:17 PM
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8/10/2023 5:11:06 PM
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City Clerk
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Agenda Packet
Agency
Clerk of the Council
Item #
14
Date
4/4/2023
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<br />Seller(s) Initials ____________________________ Buyer(s) Initials ____________________________ <br />Page 1 <br /> <br /> <br /> <br /> <br /> <br />130 Centennial Way #D•Tustin, CA 92780 <br />Phone (714) 884-3282 Fax (714) 384-7581 <br /> (714) 884-3273 Cell(949)378-9312 <br /> www.goldencoastescrow.com <br /> lucy@goldencoastescrow.net <br /> <br />Date: 2/24/2023 Escrow No.: 4484-LG Escrow Officer: Lucia Guzman <br />THIS DOCUMENT WILL AFFECT YOUR LEGAL RIGHTS – READ IT CAREFULLY! <br />These Supplemental Escrow Instructions are not Intended to supersede the certain Purchase Agreement and Escrow <br />Instructions dated 2/24/2023, but are for the purpose of procedures in order for the Escrow Officers to be able to transfer the <br />ownership of the property from the Sellers to the Buyers in an administrative way. <br /> <br /> SUPPLEMENTAL CASH ESCROW INSTRUCTIONS & GENERAL PROVISIONS <br /> <br /> <br /> <br />Prior to the expiration of the time specified in this paragraph, Buyer(s) and/or Seller(s) will hand Escrow <br />Holder, or cause to be handed to Escrow Holder, all funds and/or documents, required from Buyer(s) <br />and/or Seller(s) to enable you to comply with these instructions, all of which Escrow Holder is authorized <br />to use and/or deliver on 2/28/2023, provided that our title insurer, Ticor Title Company, has advised <br />you that they are in a position to issue an Owner's Policy of Title Insurance in the issuing title company's <br />usual form (as specified in with a liability of not less than the total consideration of $750,000.00, and <br />insuring title to Real Property described as: <br /> <br />All that certain real property situated in the County o f Orange, State of California described as follows: <br /> <br /> See Attached, Exhibit 'A', made a part hereof <br /> <br />APN# 005-142-02 <br /> <br />Commonly known as: (Escrow Holder shall not be concerned nor liable for the verification of said address) <br /> <br />843 N Garnsey St, Santa Ana , CA 92701 <br /> <br />For purposes of this transaction the BUYER(S) <br />Buyer(s) complete vesting is to be provided to Escrow Holder <br />For purposes of this transaction the SELLER(S) is shown as Fee title to the property subject of this <br />escrow is vested in: The undersigned Seller(s) amend the Residential Purchase Agreement and <br />Joint Escrow Instructions (and Receipt for Deposit) to provide for the above referenced vested <br />party(ies) as the Sellers. <br /> <br />Buyer and Seller confirm that for the proposes of this escrow, the Escrow Holder shall be Golden <br />Coast Escrow, Inc. and Title Company shall be Ticor Title Company for this transaction. <br /> <br /> <br />Free from Encumbrances EXCEPT: <br />1. Current general and special taxes for the fiscal year in which this escrow closes, and taxes for the ensuing <br />year, if any, a lien not yet due and payable. <br />2. The lien of supplemental taxes, if any, assessed pursuant to Chapter 3.5 (commencing with Section 75) of <br /> <br />Buyer has handed Escrow Holder an initial deposit in the amount of <br />Buyer will deposit with Escrow Holder and additional deposit <br />On or before 2/28/2023 in the amount of <br /> <br />TOTAL CONSIDERATION <br /> <br /> 0.00 <br /> <br />750,000.00 <br /> <br />$ 750,000.00 <br />EXHIBIT 2
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