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Date: 2/24/2023 RE: Escrow No. 4484-LG <br /> <br /> <br />Seller(s) Initials ____________________________ Buyer(s) Initials ____________________________ <br />Page 3 <br />instrument. In the event that the parties hereto utilize facsimile or electronically transmitted instructions to Escrow <br />Holder, and said parties hereby instruct Escrow Holder to rely upon such instructions as if they were originals. Any <br />amendments and supplements to these instructions must be in writing and shall only be effective when executed and <br />delivered to Escrow Holder. Escrow Holder shall not be concerned with nor have any obligations with respect to items <br />designated as memoranda in these instructions or with any other agreement or contract between the parties to this <br />escrow. <br />2. Deposit of Funds <br />(i) All funds received in this escrow will be deposited with other escrow funds in one or more non-interest-bearing <br />escrow accounts of Escrow Holder in a financial institution selected by Escrow Holder. Escrow Holder shall not be <br />responsible and shall have no liability for any delay in closing this escrow if the funds deposited in this escrow are <br />not available for immediate withdrawal as a matter of right following deposit in such financial institution. <br />(ii) Depositor has the opportunity to earn interest on the funds deposit with escrow holder through a deposit account <br />arrangement that Escrow Holder has established with one of its financial institutions. The interest rate for these <br />accounts varies between financial institutions, fluctuates periodically based on market conditions and other <br />factors, and may change prior to or during the time depositor funds are on deposit. Depositor will not have an <br />opportunity to earn interest on any funds deposited by a lender. <br />(iii) If Depositor elected to earn interest through this special account arrangement, Escrow Holder will charge Depositor <br />an additional fee of $50.00 for the establishment and maintenance of the account. This fee compensates Escrow <br />Holder for the costs associated with opening and managing the interest-bearing account, preparing <br />correspondence documentation, transferring funds, maintaining appropriate records for audit/reconciliation <br />purposes and filing any required tax withholding statements. It is important that Depositor consider this cost in <br />a decision since the cost may exceed the interest earned. If depositor is interested in having funds deposited in an <br />interest-bearing account, please contact the escrow holder. <br />(iv) If depositor does not elect to have funds deposited in an interest-bearing account. All funds (together with any <br />funds deposited by a lender) will be held in Escrow Holder’s general escrow trust account. The general escrow trust <br />account is restricted and protected against claims by third parties or creditors of Escrow Holder. Escrow Holder <br />and/or its parent company may receive certain direct and indirect financial benefits from the financial institution as <br />a result of maintaining the general escrow trust account. These benefits may include, without limitation, credits <br />allowed by such financial institution on loans to Escrow Holder and/or its parent company and earnings on <br />investments made with the proceeds of such loans, as well as accounting, reporting and other services and <br />products of such financial institution. Escrow Holder shall have no obligation to account to the parties to this escrow <br />in any manner for the value of, or to pay to any party, any benefit received by Escrow Holder and/or its parent <br />company. Any such benefits shall be deemed additional compensation of Escrow Holder for its services in <br />connection with this escrow. Some or all of these benefits may be deemed interest due depositor under <br />California Insurance Code Section 12413.5. As indicated above, depositor may elect to have funds placed in a <br />separate, interest-bearing account and receive the benefits there from, but will be required to pay Escrow <br />Holder an additional fee for this service. Alternatively, depositor may leave funds in the general escrow trust <br />account and thereby authorize Escrow Holder to keep the benefits it and/or its parent company receives from <br />the financial institution. In either event, depositor understands and agree that Escrow Holder and/or its parent <br />company may receive and retain for their sole benefit any and all benefits derived from the general escrow <br />trust account prior to the deposit of depositors funds in an interest-bearing account and following the withdrawal <br />of funds from such interest- bearing account (normally two business days prior to the close of escrow). <br />(v) All parties depositing funds in connection with this escrow are hereby notified that the funds so deposited are <br />insured only to the limit provided by the Federal Deposit Insurance Corporation. <br />(vi) Funds deposited by a lender are ordinarily deposited to escrow one or two days prior to closing. D epositor <br />should be aware that the lender may begin charging interest on the loan from the date loan funds are <br />deposited into Escrow Holder’s escrow trust account. <br />3. Good Funds Law – California Insurance Code §12413.1 <br />All parties are aware and understand that California Insurance Code §12413.1 mandates that funds deposited into an <br />escrow must be collected and available for withdrawal PRIOR TO DISBURSEMENT. The determination of the availability <br />of funds is set forth as follows: <br />(i) ELECTRONIC TRANSFERS ("wired funds") are available for SAME DAY disbursement. <br /> <br />4. Prorations: All adjustments and prorations called for in this escrow shall be made on the basis of a thirty <br />(30) day month, unless otherwise instructed in writing. <br /> <br />5. Oral instructions: Escrow Holder are authorized to accept oral instructions from the parties' real estate broker(s), real <br />estate agent(s), Lender(s) or Lender's agent(s) concerning the preparation of escrow instructions, amendments or <br />supplements. However, Escrow Holder will not to act upon any instruction so delivered until received the same in <br />writing signed by all parties to this escrow. <br /> <br />6. Loan Terms: Golden Coast Escrow, Inc. is not to be responsible in any way whatsoever nor to be concerned with the <br />terms of any new loan or the content of any loan documents obtained by any party in connection with this escrow except <br />to order such loan documents into the escrow file, transmit the loan documents to Buyer for execution and transmit the <br />executed loan documents to Lender. The parties understand and agree that Escrow Holder is not involved nor to be <br />concerned with the approval and/or processing of any loan or the contents and effect of loan documents prepared by a <br />Lender. <br />EXHIBIT 2