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010306 RESO Approving AA Mutual Release-Jt Exrow Inst Vinci Invest_
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Successor Agency (Formerly the Community Redevelopment Agency) (1974-Present)
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01/03/06
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010306 RESO Approving AA Mutual Release-Jt Exrow Inst Vinci Invest_
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11/5/2013 11:03:37 AM
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(k) such other instruments and documents as may be reasonably <br />requested by Escrow Holder or otherwise required to transfer the Vinci Property to the Agency. <br />(ii) Delivery by the Agency in Escrow. Prior to the Close of Escrow, the <br />Agency shall deposit into Escrow: <br />(a) three (3) originals of the Lease Assignment, duly executed in <br />counterpart by the Agency, assuming Vinci's interest and obligations as tenant under the <br />Erickson Lease from and after the Close of Escrow; <br />(b) three (3) originals of the Assignment of Intangible Property, duly <br />executed in counterpart by the Agency, assuming Vinci's interest in and obligations with respect <br />to the Intangible Property from and after the Close of Escrow; <br />(c) resolutions from the Agency (the "Agency Resolutions ") <br />evidencing Agency's authority and authorization to enter into this Agreement and consummate <br />the transactions contemplated herein, and such proof of the power and authority of the <br />individual(s) executing and /or delivering any instruments, documents or certificates on behalf of <br />Agency to act for and bind Agency; and <br />(d) such other instruments and documents as may be reasonably <br />requested by Escrow Holder or otherwise required to transfer the Vinci Property to the Agency. <br />(iii) Further Deliveryby the Agency in Escrow. Upon the Closing Date, the <br />Agency shall deposit into Escrow by certified or cashier's check if acceptable to Escrow Holder <br />(or a wire transfer of immediately available funds) the amount of the Purchase Price, the Vinci <br />Improvements Payment, the Erickson Lease Subsidy Advance and the Extraordinary Expenses <br />Payment, plus such additional sums as shall be necessary to pay the expenses payable by the <br />Agency hereunder so long as the following conditions precedent have been satisfied: (a) Escrow <br />Holder has previously notified the Agency that Vinci has delivered into Escrow (i) all of its <br />documents required under Section 11.13(i) above, and (b) Escrow Holder has previously notified <br />the Agency that Escrow Holder is able to proceed to close Escrow in accordance with the terms <br />of this Agreement. <br />(iv) Delivery Escrow Holder. At least one (1) business day prior to the <br />Close of Escrow, Escrow Holder shall deliver to the Agency and Vinci a pro forma closing <br />statement which sets forth, in a manner satisfactory to the Agency and Vinci, the prorations and <br />other credits and debits contemplated by this Agreement. <br />C. Conditions to Close. <br />(i) The Agency. Escrow shall not Close unless and until the following <br />conditions precedent and contingencies have been satisfied or waived in writing by the Agency: <br />the Escrow Holder; <br />6000904350 <br />(a) All instruments described in this Section 11 have been delivered to <br />-14- <br />8 -128 <br />
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