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CALIFORNIA, STATE OF (4)
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CALIFORNIA, STATE OF (4)
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Last modified
9/21/2023 5:53:50 PM
Creation date
9/21/2023 5:50:36 PM
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Contracts
Company Name
CALIFORNIA, STATE OF
Contract #
A-2023-147
Agency
Community Development
Council Approval Date
8/15/2023
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(a.) Deposit; Release of Deposit; Non-Refundability. The State has waived <br />the deposit requirement for this local governmental entity Buyer. <br />'/M <br />(b.) Balance of Purchase Price. On or before the Close of Escrow, Buyer shall <br />deposit with Escrow Holder the Purchase Price, in immediately available funds, which shall be <br />paid to State at Close of Escrow. <br />(c.) Time of the Essence. Time shall be of the essence with respect to Buyer's <br />obligations to pay any funds under this Agreement. <br />4. Escrow. <br />(a.) Opening of Escrow. Escrow has been opened with Escrow Holder by <br />State ("Escrow"). Buyer and State agree to execute and deliver to Escrow Holder, in a timely <br />manner, all escrow instructions necessary to consummate the transaction contemplated by this <br />Agreement. The State will submit supplemental escrow instructions before the close of escrow. <br />Any such supplemental instructions shall not conflict with, amend or supersede any portion of <br />this Agreement. If there is any inconsistency between such supplemental instructions and this <br />Agreement, this Agreement shall control. Escrow Holder shall, upon receipt of a fully executed <br />copy of this Agreement, sign and date the Receipt by Escrow Holder attached hereto, and <br />distribute it to all parties listed in the "Notices" sections of the Agreement. <br />(b.) Close of Escrow. For the purpose of this Agreement, the "Close of <br />Escrow" shall be defined as the date that the Quitclaim Deed (as defined in Section 5, below) is <br />recorded in the Official Records of the County. The Close of Escrow shall occur no later than <br />thirty (30) days after the end of the Contingency Period (as defined in Section 7 (a) (ii), below). <br />5. Conditions of Title. The Property shall be conveyed to Buyer by State by a <br />quitclaim deed, in the form as set forth in Exhibit C ("Quitclaim Deed"), subject only to (a) a <br />lien to secure payment of real estate taxes and assessments, not delinquent; (b) the lien of current <br />supplemental taxes, not delinquent; (c) such other title matters affecting the Property created by <br />or with the written consent of Buyer; (d) all applicable laws, ordinances, rules and governmental <br />regulations (including, but not limited to, those relative to building, zoning and land use, and <br />Chapter 430 of the Statutes of 2018, and in accordance with California Government Code <br />Section 11011 et seq.) affecting the development, use, occupancy or enjoyment of the Property; <br />(e) all matters which would be apparent from an inspection of the Property; (f) all matters which <br />
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