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+rac- - - - --1--- +~'s~a,- <br />(including any and ail teaaes~, Hens, clouds ar aefeets in title, ~ ~~msgij n~ <br />indicated m Paragraph 15. Acceina-nce by City ~ any each po cy <br />whether such tnaurance complies with the requirements of this paragraph or not, shalt <br />not constitute a waiver by City of its right to such insurance as ie herein required of <br />Seiler, nor a waive to Cthe Gir~ascn ofn~ tallure of Selterdto wem+ey the or to progvkie <br />which may acorn 1ty by <br />~tle insurance as required in this PSA. <br />~,. C>ty agrees to open an eegtipw at tine office at L+aader Escrow, 2248 N <br />State College Blvd, Fulierbon, CalitQmia, witt~m the (s} days Pram and after the date on <br />which the city has approved this RSA. This PSA constitute ~ ~ siPSA sh <br />ipetructione oR the City and the Sager and a duplicate oiig' Eac~w ~ to close wdhin <br />delivered tD the Escrow Agent upon tl~.opening of the escrow. <br />3E1 days aE the City's execution of this PsA. <br />The Escrow Agent hereby to empcwer~ to act in accordance with the terms, o4nditiona <br />~ provisions of >h>s PSA, and shall cony out its duties ore Escrow Agent hereunder <br />upon indicelting tits written seceptenCe of this Seciian 4, and of the Qenerel Provlebna <br />described to Ph~d'd~ $Bd t the Seller within #ive~{5) days tafiiar deiiv~sry t this RSA• nce, <br />deltversd to ~y <br />City agrees to pay, .and Escrow Agem is hereby authorized tc shares ~ thA Cry, the cost <br />of any trgnsfer tearer, recording fees, cast of tide insurance, reconveyance fees, doaament <br />preparation fees, escrow fees and any other dosing costs lncidente~i to the c:arrreying of <br />Said k~eal Property to City. Penaltles for p e pah~sll nbe watered pursuant t4 CNNurCod~e <br />any existing deed of trust or martgag <br />Procedures Section 1285.240. <br />Escrow Agent' ~ Iunde~Saction 4, Section 8, iSe~ction 11 and Ex~ibit "B of theiQenerai <br />imposed upon <br />proviStonS of tills Pl3,4. <br />Erooetty Ta~Reat property taxes, d any. an Said Real Property f©r the fiscal <br />i3' as are unpaid at the time of said <br />year in which Said >~eai Property Is conveyed to City, <br />conveyance, shalt be cleared and/or paid in accordance with the provisions of Section <br />4988 of the Revenue and Taxation Code at the Stale of Calibmla• seller shall be <br />eligible for a refund under Section 5Q96.7 of the Revenue and Taxation Code of the State <br />of CeNtornia for that portion of p>'oPertY tax+ea on Said Real propatly for acid fiscal ~' <br />which have teen paid prior to the date the deed ~nveying Said Real Pr~erty to City is <br />recorded which is albcable to that portion of the fiscal year which begins an the date the <br />dead ovnvey'1ng Said Real Property to City is recorded and made uncailectibie tit unpaid <br />by reason of 9ectlan 4888 of the Revenue and Taxation Code of the Stat$ of t;alifornia. <br />Ali unpad conven Sce is made so ha [ be pall by Sefierebsfare conveyance ~ Said Rerii <br />which Y~ <br />property to City. <br />g. parrme t o Pulrcha~e P it co. City agrees to pay to Seiler, and Seiler agrees to <br />accept from City, ens and far the fail purchase price for Said Rest Property, tnciuding <br />improvements to Said Real Property, and business goodwill, if any, the toiai sum of `iWO <br />HUNDRED THIRTY FIVE TIiQUSANO OOLLAI~S ($235,004)• ~y agrees to tiep°ert <br />t within THtf~ (30} days after the <br />said purchase price in escrow with .the Escrow Agen <br />page 2 of 8 Seller's initials <br />SO'd Tb~TZ 8flOZ S srkl S~9.S-Zt7tJ-i7T~+~~.~ 'ld Q2i£ 9N3 - d S ,11I~ <br />