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FULL PACKET_2010-01-04
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FULL PACKET_2010-01-04
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1/3/2012 4:12:09 PM
Creation date
12/30/2009 5:09:58 PM
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City Clerk
Doc Type
Agenda Packet
Date
1/4/2010
Destruction Year
2015
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Attachment 2 <br /> GENERAL ESCROW PROVISIONS <br /> All disbursements shall be made by Escrow's check. All funds received in this escrow shall be <br /> deposited in one or more of your general escrow accounts with any bank doing business in the <br /> State of California and may be transferred to any other general escrow account or accounts. <br /> The expression "close of escrow" means the date on which instruments referred to herein are <br /> filed for record. All adjustments are to be made on the basis of a 30-day month. Recordation <br /> of any instruments delivered through this escrow, if necessary or proper in the issuance of a <br /> policy of title insurance called for, is hereby authorized. <br /> There shall be no prorations of any existing insurance policies in this escrow. <br /> You are to furnish a copy of these instructions, amendments thereto, closing statements <br /> and/or any other documents deposited in this escrow to the lender or lenders, the real estate <br /> broker or brokers and/or the attorney or attorneys involved in this transaction upon request of <br /> such lenders, brokers or attorneys. <br /> Should you before or after close of escrow receive or become aware of any conflicting <br /> demands or claims with respect to this escrow or the rights of any of the parties hereto, or any <br /> money or property deposited herein affected hereby, you shall have the right to discontinue <br /> any or all further acts on your part until such conflict is resolved to your satisfaction, and you <br /> shall have the further right to commence or defend any action or proceedings for the <br /> determination of such conflict. The parties hereto jointly and severally agree to pay all costs, <br /> damages, judgments and expenses, including reasonable attorney's fees, suffered or incurred <br /> by you in connection with, or arising out of this escrow, including, but without limiting the <br /> 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 <br /> upon you in this escrow. <br /> If for any reason funds are retained or remain in escrow, you are to deduct therefrom a <br /> reasonable monthly charge as custodian thereof of not less than $10.00 per month. <br /> Time is declared to be the essence of these instructions. If you are unable to comply within <br /> the time specified herein and such additional time as is required to make an examination of the <br /> official records, you will return all documents, money or property to the party entitled thereto <br /> upon satisfactory written demand and authorization. Any amendment of and/or supplement to <br /> any instructions must be in writing. The seller agrees to sell and the buyer agrees to buy the <br /> property herein described upon the terms hereof. <br /> <br /> These escrow instructions, and amendments hereto, may be executed in one or more <br /> <br /> counterparts, each of which independently shall have the same effect as if it were the original, <br /> and all of which taken together shall constitute one and the same instruction. <br /> Paoe I of 9 <br /> 25A-12 ~ <br /> <br />
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