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JLLC PALM TERRACE APARTMENTS L.P.
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JLLC PALM TERRACE APARTMENTS L.P.
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Last modified
7/8/2024 5:40:12 PM
Creation date
7/8/2024 5:40:12 PM
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Company Name
JLLC PALM TERRACE APARTMENTS L.P.
Contract #
N-2024-219
Agency
Public Works
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EXHIBIT "C" (Commonwealth Land Title Company) <br /> GENERAL ESCROW PROVISIONS <br /> All disbursements shall be made by Escrow's check. All funds received in this escrow shall be deposited <br /> in one or more of your general escrow accounts with any bank doing business in the State of California <br /> and may be transferred to any other general escrow account or accounts. The expression "close of <br /> escrow"means the date on which Instruments referred to herein are filed for record. All adjustments are <br /> to be made on the basis of a 30-day month. Recordation of any instruments delivered through this <br /> escrow,if necessary or proper in the issuance of a policy of title insurance called for, is hereby authorized. <br /> There shall be no proration of any existing insurance policies in this escrow. <br /> You are to furnish a copy of these instructions, amendments thereto, closing statements and/or any other <br /> documents deposited in this escrow to the lender or lenders,the real estate broker or brokers and/or the <br /> attorney or attorneys involved in this transaction upon request of such lenders, brokers or attorneys. <br /> Should you before or after close of escrow receive or become aware of any conflicting demands or claims <br /> with respect to this escrow or the rights of any of the parties hereto, or any money or property deposited <br /> herein affected hereby, you shall have the right to discontinue any or all further acts on your part until <br /> such conflict is resolved to your satisfaction, and you shall have the further right to commence or defend <br /> any action or proceedings for the determination of such conflict. The parties hereto jointly and severally <br /> agree to pay all costs,damages,judgments and expenses,including reasonable attorney's fees, suffered <br /> or Incurred by you in connection with, or arising out of this escrow, including, but without limiting the <br /> generality of the foregoing,a suit in interpleader brought by you. In the event you file a suit in interpleader, <br /> you shall ipso facto be fully released and discharged from all obligations imposed upon you in this escrow. <br /> If for any reason funds are retained or remain in escrow, you are to deduct therefrom a reasonable <br /> monthly charge as custodian thereof of not less than $10.00 per month. <br /> Time is declared to be the essence of these instructions. If you are unable to comply within the time <br /> specified herein and such additional time as is required to make an examination of the official records, <br /> you will return all documents, money or property to the party entitled thereto upon satisfactory written <br /> demand and authorization. Any amendment of and/or supplement to any instructions must be in writing, <br /> The seller agrees to sell and the buyer agrees to buy the property herein described upon the terms hereof. <br /> These escrow instructions,and amendments hereto,may be executed in one or more counterparts, each <br /> of which independently shall have the same effect as if it were the original,and all of which taken together <br /> shall constitute one and the same instruction. <br />
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