Item 07 - Purchase of Real Property for Future Water Resources and Park Facilities

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EXHIBIT "B" (Fidelity Natio na l Titl e ) G E NERAL ESCROW PROVISIONS I. D E POS IT OF FL' 'D S rhe hl\\ deali ng" i1 h 1he di ,burse111 en 1 of fund~ requ ires 1ha1 all fund ' be a' ai la hk li.ir 11 i1hdra11a l a> a n1a1te r 01· righ1 b) 1h1:: 111k e111i1) ·, e'..:ro\I and/or \lib escro \I accou lll pr ior 10 disbu r semen l of an) fun ds. O n l) "ire-1 ra1hli.:rred fumb ca n be gi,en i111media1e ava i labilil) upon depo~i l. Cashier's checks. 1dkr's chcd~s and Ce rti lied checks ma) be availabl e one b usine's da) a lier depo sit. All 01he r fu nds ~u c h as personal. co r p1m11c or pa r1n ..:1,hip ch..:ck' and draJ"1, are subj ec 1 10 111 and at01") holding per i od s 11 hich m a: cause m aierial del a) s i n disburse 111 ..:n 1 of funds i n 1h i s i:sc ro11. In o r der 111 m oid di:Ja: '· :ill 1·u11di ngs shou ld he 11 i r e 1ra nsfnrcd . Ou1goin !!-wi n : tran ,li.:rs w ill 1101 be aut horized un1il rnn lir111a 1i on of 1hc rc,p..:c1 i ve i ncomi 11g 1\ire 1ra11 >kror lli a1a il ab ilit: ol"dcpll,ilcd c hecb Depu-;11 o r fund -, 1111 0 ge ne ra l cscro11 1rus 1 accou n 1 un k '' instru c l ed tll l11.:r " isc. Yo u ma ) ins1ru c t l:.scrow H uld..:r IO dt:!po si1 )O ur J"u nt b in1u an i nlt:n:s1 bearing acco un t b: signing an d ret urning th e "Escro\1 l n>1 ruc1i ons -lnteresl l.k aring r\ccount ". \1hich ha, bee n pro 1itkd t o )OU. II )tlll do not so instruct us. then all funds r ece i ved in t hi s escrow shall be clt:posi t..:d wi th o ther escro11 fun ds in one or m ore general escro\1 tr us t accounts. w hich i nclude bo1h no n-i nteres t bearing d emand accounts an d oth er depos itory accou nts of Escrow H older. in an: state or nationa l ba nk or sm i ngs and l oan assoc i a1inn i nsured b) t he Federa l D epos it In su ra nce C orporation (the "deposi tor y in s1 ituti ons") an d may be tran sfe rred to an y 01hcr >uc h esc ro,1 1ru s1 acc ou 111s or f'sc ro w Holder or o ne o f i1s affiliates. ei1h er \1 i 1hi n or u u1 si de 1he State or Ca li fr>rn ia. 1\ ge nera l escro\1 tru s1 acco un1 i s rcs 1r ic 1c·d a nd pro1cc1ccl agains l c la i ms b: t hird parti es and c r ed itors o f I 'iCl"O \\ l l 0illc r rind its artiliates. Receip1 or be11 efi1s by Escro,1 H o ld er an d afli l iat cs. The pa rtie' 10 1h i> esc ro\1 acknow le dge lhal th e maintenam:e of suc h ge nera l esrrt111 1ru s1 acc o un ls w ith ,onH! clepos i1o ry institu1 ion s 111 ay rc sul1 in Escrow I I o lder or i 1s artilia1e;, be ing p rov ided \1 i1 h an arm : or ba n k ,en ices, acco11rn 1oda 1ion;. ur 01her bcne tits by th e dcpos i1or y insti 1t11i o n. So me o r all or 1he'e b enefil~ m ay be consi dered in1erest due ~ou under Cal i forn ia Insuran ce Cod e Sec tion 12-11 3.5 . Esc ro'' H ol der or its affi liates al so 1rn1) el cc1 10 en ter i111 0 01 her bu siness 1ra nsac1io ns wi 1h or ob1 a in l oan' for in vestmc n1 or 01h c r p urpo;,e;. from the deposi1or) i n. ti1ut ion. A l l such sen ices. riccom m oda1io n;,. and other bencfi1s shall accrue 10 Escro11 I l \llder or i i ' al"lilia1e~ an d E scro \1 I l o l dcr shal l hm e 110 ob l igat i on 10 acco u111 10 1he part"'' 10 1h is c>ero\\' for 1he 'alue n r' suc h sen ice,. accomnwda1 1ons. i n1 crcs1 or 01her b,·nc ti 1,. Sai d funds 11·ill 1H •I earn i ntc·r cs l unl ess 1he i1b truc1ion s 01 hc 1·11 i sc~ spt:citi ..:a l ly sia 1,· 11ta1 fun d;. sha ll be d c pusi 1cd in an in 1c r cs 1-hcari 11 g acuu 1n1 1\l l d is burs..:men b ~h.ill bt' m ade b) c heck of l ·i d..:l il) Na 1iu11 al T i1 le Crnnpa n). I he prin c i pa l s IO 1h i s escrow arc hereby nolilicd 1ha 1 1hc lunds dt:po si 1,·d her ein .i r e im.ured on l ~· IO 1h c l i111i 1 provi de d b_:.. 1he Federal De po si 1 I nsurance C o r pora tion. /\ny in s1 ru c tion fo r bank ''ire \1i l l prm i de rea so 11.1ble t ime or no1ice llir 1-scrow H older'> com pl i ance wi1 h suc h i n~t r uc 1i o n . J:sc row H olde r 's sole du!) and responsi b i lit) sha ll be t o place sa i d 11 ire 1r.111sler ins 1rnc1ion s 11 i 1h i1s wi r i ng ba nk upon co nlir mat i on o f (I ) sa tisfac tion o r cond i1i on s precedc n l or (2) d ocum ent r ecordaiion a1 clo~e o f escro1\ Escrow l l oldt:r 11 ill \JOT be hel d re s po nsib le for l os1 inter es t clue l o \\ire dc l rt)S ca used by a n~ bank o r 1h e Fe d eral Rc "c n e S),l c m . and reco n1111e ncb 1lw1 .Iii panic;, make 1he111 sel\'es a11<irc o rbm1ki ng reg ul a1i nn s w i1h re g ard 10 p lm:e111e 111 or\1 in':s. In 1h c L·ve n1 t here is insuflir i e111 1ime to place a wire upo n an y suc h co11li rm atio 11 o r th e w i res havc c l osed fo r th e d ay . 1h e pan ic~ ag ree w prm icle ll'ri11 en inslructions for an altcrna1i v e 1111.!thocl of di sbu r se me n t. W ITI IO U T A N /\L TERNATIVE D I Sl3U RSEfVI ENT INSTR UCTI O '· FLl\J DS WIL L nE H ELD I I TR US'I IN A N O N -IN TER EST I3 E/\RI NG ACCO UNT u 'r1 1. THE N EX T OPP O RTUN ITY ro R W ll{J-: PLACEM I]\ r . 2. PRORA T I O\'S AND r\OJ U STi\IE T S All p ro r ai ions an d 'or adju ~1 men t s cal l ed for in thi s esc ro11 ar e IO be made on 1h e bas i s o f a t hirt) (30) dny mon1h unkss ot hen' i se i ns1rnc1c·d in \1 r i1ing You art> Ill use i n formmion cont ained on las1 a\ai lnblc l a\ state111e 11 1. re111al s1n1cmen1 as pro\'i de d b) 1he '>eller. be neticiar)'s s1atrn1.::11 1 an d tire insu rance polrc : tklivcn:d in 10 cs cro \1 for 1he pro ra1 i u ns prO\ ided l\•r hc'rcin . J. SUPP L E :\IE1'\"fA L T AXES r he w i1hin dl!scri bcd prn pCrl) m ay be subjecl 10 sup pl cmenia l real property ta.\es d u..: to 1h1.: c han gl' or 011 ner sh i p l aking pl ace 1h ro ug h th i , o r a pr ev ious escro11 1ransac 1i on. A ny suppl emen1al real p ro pe rty l axes ar i si ng as a rc;,ult o r 1he 1ran sfc:1· o r 1h e p rope rt) to B u) t:r shal l be· the sole resplHh ibi lil) o l llu:er ri nd an: su pp le111 cn 1al real p ropen ~ lax es :ir i s ing pr io r l o 1ht: c los ing dal e shal l be 1h e so le rcspo n s ibi l it ~ orih t: Sclkr. I A X 131 LI. OR Rl·F L \lDS ISSl IJ· J) /\ITER Cl.O';[ or ES ( RO\\' SllA I I BE 11 /\ DI.ED D IRECT L Y 13 ET\V EF '.\ lll'YER Al\() SE l.LEI{ ~-L'T l l.IT I ES/l'OSSES 10 '\ r ran ;,fn ofu1il i 11,"i ,1 nd po,,c·,,i on of 1hc prem i;,e;, arc 10 he sell led b) lhL· pan ic;, d i rc·c i l) and ou1side escro\1. 5. PR EP ARAT I ON A N D REC ORDATI O N OF I NS TR Ui\I EN T S t:sc ro\1 I I ol de r is authori ze d to p rt:par e. o b1a i n. record and ci t: li ver th e necess ary instruments 10 carry out the term s and condi1i ons or thi s escro w an d IO order the policy of 1i 1l e insura nce IO bc i ssued at c l os e or esc ro w as cal led fo r i n these inst ru c1i o ns. C l ose of esc row sha ll mean 1he date i nstru111en 1s arc 1\-corclc d. 6. Al 1 1-IORIZ.\T I O N T O F lJ R 1I SH C OP I E S You ar c nu thoriLed w furnish copies or 1hcsc in st ruc 1 io n ~. suppk111 e111-;. a111cndmen1>. no1 ices o r canci:lla1ion and closi ng s1a1c111en1 s. to 1h e Real Es1a 1c Hroker(s) and Lender( s) name d in 1hi s escrow.