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(b) Seller does hereby convey to City a six-month temporary landscape <br />easement as described in greater detail in Exhibit "B" attached hereto and by this reference made a <br />part hereof. <br /> <br />3. Title ln~nrance. City shall have the right, at its sole expense, to obtain, concurrently with <br />the conveyance of said real property to City, within the time and at the place hereinabove <br />specified for said conveyance of said real property, a policy of title insurance to be issued by the <br />above mentioned title company, with the City therein named as the insured, in the amount Sixty- <br />Five Thousand Dollars And No/100 ($65,000.00), insuring the title of the City to said real <br />property is flee and clear of any and all conditions, restrictions, reservations, exceptions, <br />easements, assessments, profits, limitations, encumbrances, liens, leases, clouds or defects in title, <br />excepting such specific ones as city may hereinafter expressly agree to take subject to. <br />Acceptance by City of any such policy of insurance, whether such insurance complies with the <br />requirements of this paragraph or not, shall not constitute a waiver by City of its right to such <br />insurance as is herein required, nor a waiver by the City of any rights of action for damages or any <br />other rights which may accrue to City by reason of the failure of Seller to convey title as required <br />in this Agreement. <br /> <br />4. F~crow. <br /> <br />(a) City agrees to open an escrow at the office of First American Title Insurance Company, 2 <br />First American Way, Santa Ana, California, (the "Escrow Agent") within five (5) days from and <br />after the date on which the City has approved this Agreement. This Agreement constitutes the <br />joint escrow instructions of the City and the Seller and a duplicate original of this Agreement shall <br />be delivered to the Escrow Agent upon the opening of the escrow. <br /> <br />(b) The Escrow Agent hereby is empowered to act under this Agreement, and upon indicating <br />its acceptance of this Section 4 and of the General Provisions described in Exhibit "D" attached <br />hereto and incorporated herein by this reference, in writing, delivered to the City and to the Seller <br />within five (5) days after delivery of this Agreement, shall carry out its duties as Escrow Agent <br />hereunder. <br /> <br />(c) City agrees to bear and Escrow Agent is hereby authorized to charge to the City the cost <br />of any transfer taxes, recording fees, cost of title insurance, reconveyance fees, document <br />preparation fees, escrow fees and any other closing costs incidental to the conveying of said real <br />property to City. Penalties for prepayment of bona fide obligations secured by any existing deed <br />of trust or mortgage shall be waived pursuant to Civil Code Procedures Section 1265.240. <br /> <br />(d) The liability to the Escrow Agent under this Agreement is limited to performance of the <br />obligations imposed upon it under Section 4, Section 6, Section 7, Section 8 and Section 12 and <br />Exhibit "D" of the General Provisions of this Agreement. <br /> <br />5. Property Taxe~q. Such real property taxes, if any, on said real property for the fiscal year <br />within which said real property is conveyed to City as are unpaid at the time of said conveyance <br />shall be cleared and paid in accordance with the provisions of Section 4986 of the Revenue and <br />Taxation Code of the State of California. Seller shall be eligible for a refund under Section <br /> <br />2 <br /> <br /> <br />