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<br />I, <br />J <br /> <br />. <br /> <br />. <br /> <br />1 the time the order is placed. This cancellation fee shall be applied to the cost of the title insurance policy, <br />provided eScrow is not cancelled. <br /> <br />3 <br /> <br />7 <br /> <br />BUYER ACKNOWLEDGES THAT IN A PURCHASE OF REAL PROPERTY IT MAYBE ADVISABLE <br />TO OBTAIN TITLE INSURANCE IN CONNECTION WITH THE PURCHASE SINCE THERE MAYBE <br />PRIOR RECORDED LIENS AND ENCUMBRANCES, WHICH COULD AFFECT BUYER'S INTEREST <br />IN THE PROPERTY. A POLICY OF TITLE INSURANCE SHOULD ,BE OBTAINED IN ORDER TO <br />ENSURE BUYER'S INTEREST IN THE PROPERTY BEING ACQUIRED. <br /> <br />BUYER's initials t11: <br /> <br />5 <br /> <br />9 <br /> <br />11 <br /> <br />7. TITLE (N) <br /> <br />13 <br /> <br />Title shall be subject to: <br /> <br />15 <br /> <br />A. Exceptions shown in Exhibit "C," a Preliminary Report covering the property. <br /> <br />17 <br /> <br />If SELLER is unable to deliver title to the Property as set forth above, BUYER shall have the option to: <br /> <br />19 <br /> <br />A. Accept title i:-. '::.e :::'.:::=:>::, :::-:ists. .~~c:eptance of such title shall constitute full satisfaction oftl::; <br />21 terms of this Agreement as related to title, a....ld SELLER shall in no v.;ay be liable for failure to deliwr <br />title as set forth above; or <br /> <br />?'" <br />-,) <br /> <br />B. Terminate this Agreement by delivering written notice thereof to SELLER. In such event, BU'l"ER <br />25 shall receive a refund of all money paid hereunder and BUYER and SELLER shall be relieved of <br />further obligation to one another. If the Agreement is terminated as provided for in this paragraph, all <br />27 escrow and title cancellation fees incurred shall be paid by SELLER, and BUYER shall not be liable <br />therefore. <br /> <br />29 <br /> <br />8. VESTING OF TITLE (S) <br /> <br />31 <br /> <br />_ Title to the property to be conveyed pursuant to this agreement shall be vested as set forth by BUYER below. <br />33 (Please print clearly) <br /> <br />35 Citv of Santa Ana. a charter city and municipal corporation dulv ofQ:anized under the Constitution and laws <br />of the State of California. <br /> <br />37 <br /> <br />BUYER IS A WARE THAT THE MANNER OF TAKING TITLE MAY HAVE SIGNIFICANT .LEGAL <br />39 AND TAX CONSEQUENCES AND HAS GIVEN THIS MATTER SERIOUS CONSIDERATION. <br /> <br />41 9. PRORATIONS (N) <br /> <br />43 Property taxes shall be prorated to close of escrow. There shall be no other prorations made in connection <br />with this purchase and sale. All prorations shall be made on the basis of a thirty (30) day month. <br /> <br />45 <br /> <br />10. POSSESSION (N) <br /> <br />47 <br /> <br />Possession of the property shall be delivered to BUYER at close of escrow. <br /> <br />49 <br /> <br />CEOICI~- or SA./Purd'wc Agrccmcnl <br />CEO/PCICEO-02..(J(12 <br /> <br />Page 3 of7 <br /> <br />January I ~. ~OO2 <br />FotTCSI PauJ Park Pwdwc Agrcx:ment <br />