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25L - AGMT - GRAND AVE WIDENING - 208 N GRAND AVE
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25L - AGMT - GRAND AVE WIDENING - 208 N GRAND AVE
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Last modified
11/15/2012 5:39:06 PM
Creation date
11/15/2012 5:39:03 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Public Works
Item #
25L
Date
11/19/2012
Destruction Year
2017
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Improvements having been obtained and received by Buyer in accordance with Paragraphs 8 and <br />9 of this Agreement. <br />6. RECORDING. Recordation of any documents delivered through this Agreement <br />is authorized if necessary or proper, upon acceptance by Buyer as described herein. <br />7. CERTIFICATION OF OWNERSHIP. Tenant-Seller hereby warrants and certifies <br />under penalty of perjury that Tenant-Seller is the owner of the Improvements and that no <br />document has been signed by or on behalf of Tenant-Seller for the purpose of creating any lien, <br />encumbrance, or security interest in any of the Improvements, and that the Tenant-Seller does <br />not know of any claim of lien, encumbrance, or other security interest therein, EXCEPT: (a) <br />Trust Deeds on the Property, duly recorded; and (b) real and personal property taxes. <br />8. PERMISSION TO ENTER PREMISES. Tenant-Seller hereby grants Buyer or its <br />authorized agent's permission to enter upon the Premises at all reasonable times prior to Closing <br />of this transaction for the purpose of making necessary inspections. <br />9. BULK SALE. In order to establish proof of clear title to the Improvements, <br />Buyer may publish a Notice to Creditors pursuant to the Bulk Sales Law of the State of <br />California and obtain a title report and/or a report from the Secretary of State's Office as to <br />filings of security interests covering the Improvements. <br />10. CONFLICTING INTERESTS. In the event any conflicting claim of title or any <br />security interest or lien of any kind is discovered or asserted as to any of the Improvements, <br />Buyer shall, upon receiving notice or knowledge thereof, withhold an amount otherwise payable <br />to Tenant-Seller as is reasonably necessary, in the sole opinion of Buyer, to protect Buyer against <br />such claim of interest or lien. The withholding of such funds shall not prevent Closing of this <br />transaction if the total funds to be withheld from Tenant-Seller do not exceed the net amount to <br />be paid to Tenant-Seller through this transaction. Buyer will not pay out the withheld funds or <br />disburse any withheld funds to any claimant or other party (except upon court order or levy) <br />without the written consent of Tenant-Seller. <br />A general creditor's claim shall not be deemed to be a claim against any specific <br />item of Improvements and Tenant-Seller hereby agrees to accept all responsibility therefore. <br />Unless otherwise provided, it shall be presumed that Tenant-Seller is entitled to payment under <br />this transaction for the Improvements. It shall be presumed that the Property owner is the owner <br />of all improvements, fixtures and equipment associated with the Premises other than the <br />Improvements. <br />11. DISMISSAL OF EMINENT DOMAIN ACTION. If Buyer has previously filed <br />an action to condemn the Tenancy Interest and/or Tenant-Seller's interest in the Improvements, <br />Tenant-Seller hereby consents to the dismissal of such action and waives any claims for <br />compensation, costs, attorney's fees and deposits in said action, or any claim whatsoever which <br />might arise out of the filing of such action, whether or not such claim is specifically identified <br />herein. Tenant-Seller hereby authorizes Buyer to withdraw and make payable to Buyer any <br />funds deposited with the Court in any such eminent domain action. <br />2 <br />25L-6
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