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MACKENZIE, VIRGINA AND DAVID 1 - 2006
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MACKENZIE, VIRGINA AND DAVID 1 - 2006
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Last modified
1/3/2012 2:33:54 PM
Creation date
8/15/2006 11:33:21 AM
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Contracts
Company Name
MACKENZIE, VIRGINA AND DAVID
Contract #
A-2006-198
Agency
PUBLIC WORKS
Council Approval Date
8/7/2006
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<br />EXHIBIT "B" <br /> <br />GENERAL ESCROW PROVISIONS <br /> <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 3D-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 <br />authorized. <br /> <br />There shall be no prorations of any existing insurance policies in this escrow. <br /> <br />You are to furnish a copy of these instructions, amendments thereto, closing statements andlor any <br />other documents deposited in this escrow to the lender or lenders. the real estate broker or brokers <br />andlor the attorney or attorneys involved in this transaction upon request of such lenders, brokers or <br />attorneys. <br /> <br />Should you before or after close of escrow receive or become aware of any conflicting demands or <br />claims with respect to this escrow or the rights of any of the parties hereto, or any money or property <br />deposited herein affected hereby, you shall have the right to discontinue any or all further acts on your <br />part until such conflict is resolved to your satisfaction, and you shall have the further right to commence <br />or defend any action or proceedings for the determination of such conflict. The parties hereto jointly and <br />severally agree to pay all costs, damages, judgments and expenses, including reasonable attorney's <br />fees, suffered or incurred by you in connection with, or arising out of this escrow, including, but without <br />limiting the generality of the foregoing. a suit in interpleader brought by you. In the event you file a suit in <br />interpleader, you shall ipso facto be fully released and discharged from all obligations imposed upon you <br />in this escrow, <br /> <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 /> <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 andlor 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 <br />hereof. <br /> <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 <br />together shall constitute one and the same instruction. <br />
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