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ROMERO, LUIS AND JUAN ARGOTA - 2007
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ROMERO, LUIS AND JUAN ARGOTA - 2007
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Last modified
10/21/2013 11:27:00 AM
Creation date
6/26/2007 10:59:30 AM
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Contracts
Company Name
JUAN ARGOTA AND LUIS ROMERO
Contract #
A-2007-150
Agency
PUBLIC WORKS
Council Approval Date
6/18/2007
Destruction Year
0
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<br />EXHIBIT "B" <br />GENERAL ESCROW PROVISIONS <br /> <br />All disbursements shall be made by Escrow's check. All funds received in this escrow shall <br />be deposited in one or more of Escrow Agent's general escrow accounts with any <br />bank doing business in the State of California and may be transferred to any other <br />general escrow account or accounts. The expression "close of escrow" means the <br />date on which the transferring instrument(s) referred to herein are filed for recordation <br />with the Office of the Orange County Recorder. All prorations shall be made on the <br />basis of a 3D-day month / 360-day year. Recordation of any instruments delivered <br />through this escrow, if necessary or proper in the issuance of a policy of title insurance, is <br />hereby authorized by the Parties to this transaction. <br /> <br />There shall be no prorations of any existing insurance policies in this escrow. <br /> <br />Escrow Agent is to furnish a copy of these instructions, including any amendments thereto, <br />closing statements, and/or any other documents deposited in this escrow, to the lender <br />or lenders, the real estate broker or brokers, and/or the attorney or attorneys involved in this <br />transaction upon request of such lenders, brokers or attorneys. <br /> <br />Should Escrow Agent, before or after close of escrow, receive or become aware of <br />any conflicting demands or claims with respect to this escrow; or to the rights of any of the <br />Parties hereto; or about any money or property deposited herein, then Escrow Agent <br />shall have the right to discontinue any or all further acts on its part until such conflict <br />is resolved to its satisfaction, and Escrow Agent shall have the right to commence or <br />defend any action or proceeding for the resolution of such conflict. The Parties to this <br />escrow jointly and severally agree to pay all costs, damages, judgments and expenses, <br />including reasonable attorney's fees, suffered or incurred by Escrow Agent in connection <br />with, or arising out of, this escrow including, but without limiting the generality of the <br />foregoing, a suit in interpleader initiated by Escrow Agent. In the event Escrow Agent <br />should file a suit in interpleader, Escrow Agent shall be fully released and discharged <br />from all obligations imposed upon it by this escrow. <br /> <br />If for any reason funds are retained or remain in escrow, Escrow Agent shall be entitled to <br />deduct therefrom a reasonable monthly charge of not less than $10.00 per month as an <br />administrative fee. <br /> <br />Time is of the essence with regard to the execution of these general escrow <br />instructions. If Escrow Agent is unable to comply with these instructions within the time <br />specified herein, and if additional time as is required to make an examination of the official <br />records, Escrow Agent shall return all documents, money, or property to the party entitled <br />thereto upon satisfactory written demand and authorization. Any amendment or <br />supplement to these instructions must be in writing, signed by all Parties to this <br />transaction. <br /> <br />These escrow instruclions, and any amendments thereto, may be executed in one or more <br />counterparts, each of which independently shall have the same effect as if il were the <br />original, and all of which taken together shall constitute one and the same ins uction. <br /><}- <br /> <br />Page 11 of11 <br /> <br />Seller's Initials <br /> <br />
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