Item 15 - Purchase of Real Property for Santa Ana Water Resources Elevated Tank

Home Browse Search

other instruments as may reasonably be required by Escrow Holder, in order to consummate the transaction contemplated by this Agreement. Any such supplemental instructions shall not amend or supersede any portion of this Agreement. If there is any inconsistency between such supplemental instructions and this Agreement, this Agreement shall control, 6 CLOSING 6.1 Selection of Closing Date. The Close of Escrow hereunder shall be held and delivery of all items to be delivered at the Closing under the terms of this Agreement shall be performed at the offices of the Title Company on or before thirty (30) calendar days from the end of the Due Diligence Period, or such earlier or later date as City and Seller may mutually agree upon in writing (the "Closing Date"). 6.1.1 In the event any of the conditions to Close of Escrow set forth in the section "Conditions to Close" have not been fulfilled by the Closing Date, the Close of Escrow may be extended one time for up to an additional ten (10) days ("Extended Closing Date") by either City or Seller. 6.2 Grant Deeds. Prior to Close of Escrow, Seller shall deposit an executed Grant Deed into escrow. 6.3 Other Documents. As required, Seller shall prepare or obtain the following documents: 6.3.1 Two (2) originals of a Natural Hazard Disclosure Statement, for the Property; 6.3.2 One (1) Seller's Affidavit of Non -foreign Status (the "FIRPTA Affidavit"), for the Property; 6.3.3 One (1) Real Estate Withholding Certificate (the "Form 593-C"), for the Property; and 6.3.4 Such other documents as are reasonably necessary for issuance of the required Title Policy. 6.3.5 Tenant -Executed Estoppel Certificates from each tenant dated no more than thirty (30) days prior to the Closing Date. 6.4 Encumbrances. Seller shall pay in full any liens, claims, or mortgages encumbering the Property, if applicable. 6.5 City's Costs and Expenses. Except as otherwise specified in this Agreement, Seller City shall pay the costs and expenses incurred pursuant to this Agreement as follows: 6.5.1 Seller shall pay one hundred percent (100%) of the Orange County Transfer Taxes and one hundred percent (100%) of the Escrow Holder's fees, and the costs of a CLTA Title Policy; 6.5.2 Any costs incurred through the Escrow relating to the Property that are not specifically allocated to Seller or City under this Agreement shall be paid by City. 6.5.3 Any endorsements to the Title Policy requested by City; Purchase and Sale Agreement - Santa Ana Unified School District -City of Santa Ana -Water Tower Site Page 7