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03 - JOINT PH - DDA RSI Development LLC
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03 - JOINT PH - DDA RSI Development LLC
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Last modified
1/3/2012 3:33:44 PM
Creation date
6/23/2011 4:19:21 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
03
Date
1/5/2009
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insurance policies relating to such property shall not be transferred to Developer by Agency. <br />(d) The Agency and the Developer shall deliver to the Escrow Agent all documents <br />necessary for the conveyance of title to the Sites in conformity with, within the times, and in the <br />manner provided in this Agreement. <br />(e) If in the opinion of either party it is necessary or convenient in order to <br />accomplish the Closing of this transaction, such party may require that the parties sign <br />supplemental escrow instructions; provided that if there is any inconsistency between this <br />Agreement and the supplemental escrow instructions, then the provisions of this Agreement shall <br />control. The parties agree to execute such other and further document as may be reasonably <br />necessary, helpful or appropriate to effectuate the provisions of this Agreement. The Closing <br />shall take place when both the Agency's Conditions Precedent and the Developer's Conditions <br />Precedent have been satisfied. Escrow Agent is instructed to release Agency's escrow closing <br />and Developer's escrow closing statements to the respective parties. <br />to Developer: <br />202.1 Costs of Conveyance. With regard to the conveyance of title to the Sites <br />(1) The Developer shall pay the following fees, charges and costs: <br />(a) Developer's share of the premium for any title insurance policies as set <br />forth in Section 205 of this Agreement; <br />(b) One-half (1/2) of escrow fees and recording fees; <br />(c) The Purchase Price; <br />(d) One-half (1/2) of notary fees. <br />(2) The Agency shall pay all other fees, charges and costs, including without <br />limitation: <br />(a) Costs necessary to place title in the condition required by the provisions of <br />this Agreement; <br />(b) Ad valorem taxes, if any, upon the property conveyed for any time prior to <br />conveyance of title; <br />(c) Any federal, state, county or city documentary stamps and transfer taxes;. <br />(d) The Agency's share of the Title Policy; <br />(e) One-half (1/2) of escrow fees and recording fees; <br />(f) One-half (1/2) of notary fees. <br />600457905v2 3 -g1 <br />
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