75A - CREVIER DEVELOPMENT AGMT. - Laserfiche WebLink

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(10) Possession. Prior to Closing, the Agency shall have obtained full and sole possession of the Property or ofthe relevant Parcel which is being closed, except that the Developer shall not object to the closing of Parcel A ifthe County of Orange is still occupying the accessory garage located at the rear of the Agency owned property at 2009 East Edinger Avenue, pursuant to the tenns of a relocation agreement by and between the Agency and the County of Orange in a fonn reasonably approved by Developer. (I 1) Prevailing Wage üpinion. The Developer shall have obtained and submitted to the Agency a written detennination /Tom the California Department of Industrial Relations pursuant to 8 California Code of Regulations § 16001(a) that the construction of the Project is not a public work and therefore is not subject to prevailing wage. Section 413. Escrow. (1) The Agency agrees to open an escrow for the sale of the Property to the Developer with First American Title Insurance Company, or such other escrow company mutually agreed upon by the parties (the "Escrow Agent") within thirty (30) days of the effective date of this DDA. This DDA and Escrow Agent's Standard Fonn Escrow Instructions constitute the joint escrow instructions of the Agency and the Developer and a duplicate original of this DDA shall be delivered to the Escrow Agent upon the opening of the escrow. (2) The Agency's Executive Director and the Developer shall provide such additional escrow instructions as shall be necessary and consistent with this DDA. The Escrow Agent hereby is empowered to act under this DDA, and upon indicating its acceptance of this Section 413 in writing, delivered to the Agency and within five (5) days after delivery of this DDA, shall carry out its duties as Escrow Agent hereunder. (3) After delivery to the Escrow Agent by the Agency of a deed for a specific Parcel for which the escrow was opened and upon close of escrow, the Escrow Agent shall record such deed in accordance with these escrow instructions, provided that the title to such Property can be vested in the Developer in accordance with the tenns and provisions of this DDA. The Escrow Agent shall buy, affix, and cancel any transfer stamps required by law and pay any transfer tax required by law. Any insurance policies relating to such property shall not be transferred to Developer by Agency. (4) The Agency and the Developer shall deliver to the Escrow Agent all documents necessary for the conveyance of title to the Property in confonnity with, within the times, and in the manner provided in this DDA. ~ Section 414. Representations and Warranties 414.1 Agencv Representations. Agency represents and warrants to Developer as follows: 18