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25A - SETTLEMENT AGREEMENTS - BRISTOL STREET CORRIDOR
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25A - SETTLEMENT AGREEMENTS - BRISTOL STREET CORRIDOR
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1/3/2012 4:09:01 PM
Creation date
5/12/2010 1:06:03 PM
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City Clerk
Doc Type
Agenda Packet
Item #
25A
Date
5/17/2010
Destruction Year
2015
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EXHIBIT "B" <br /> GENERAL ESCROW PROVISIONS <br /> AI! 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 30-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 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 and/or any other <br /> documen#s deposited in this escrow to the fender or lenders, the real estate broker or brokers andlor the <br /> attorney or attorneys involved in this transaction upon request of such fenders, brokers or attorneys. <br /> Should you before or after close of escrow receive or become aware of any conflicting demands or claims <br /> with respect to Phis escrow or the rights of any of the parties hereto, or any money or property deposited <br /> herein affected hereby, you shaft have the right to discontinue any or all further acts on your part until such <br /> conflict is resolved to your satisfaction, and you shaft have the further right to commence or defend any <br /> action or proceedings for the determination of such conflict, The parties hereto jointly and severally agree <br /> to pay all costs, damages, judgments and expenses, including reasonab}e attorney's fees, suffered or <br /> incurred 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 fie 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 /> 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 Tess than $30.00 per month. <br /> Time fs 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 !s required to make an examination of the official records, you <br /> will return all documents, money or property to the party entitled thereto upon satisfactory written demand <br /> and authorization. Any amendment of and/or supplement to any instructions must be in writing. The <br /> seller agrees to sell and the buyer agrees to buy the properly herein described upon the terms hereof. <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 al! of which taken together <br /> <br /> shall constitute one and the same instruction. <br /> 8 <br /> 25A-13 <br /> <br />
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