AKOUBIAN, RUPERT-2015 - Laserfiche WebLink

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.w`n. First American 77de tiIw �f . First American Title Company 4 First American Way Santa Ana, CA 92707 (714)250 -3000 Fax - (714)913 -6770 ESCROW INSTRUCTIONS: ACCEPTANCE OF AGREEMENT To: First American Title Company, Escrow Holder File No.: OSA- 5013727 (EDR) Erin Reardon, Escrow Officer Date: October 08, 2015 Estimated Closing Date: October 20, 2015 Purchase Price: 40,000.00 Re: 510 East Second Street, Santa Ana, CA 92701 ( "Property") Rupen Akoubian ( "Buyer ") City of Santa Ana ( "Seller ") The undersigned parties hand First American Title Company ( "Escrow Holder "), that certain document entitled AGREEMENT OF PURCHASE AND SALE ASSESSOR PARCEL NUMBER 398 - 491 -40 dated September 15, 2015 ( "Agreement ") executed by and between City of Santa Ana and Rupen Akoubian, (together the "Parties'. Escrow Holder is hereby requested to accept the Agreement as its initial escrow instructions and to act as escrow agent for the Parties in accordance with the terms and conditions contained in said document. The Parties specifically acknowledges that the consummation of this escrow is contingent upon compliance with some or all of the executory terms and provisions of the Agreement, and that the Parties to the Agreement are and shall be the sole persons entitled to and authorized to determine whether all of said executory terms and provisions due to be performed prior to the close of escrow have been met or complied with prior to such close. Accordingly, the Parties hereby agree that prior to the scheduled close of escrow they shall each deposit with Escrow Holder a written instruction or acknowledgement specifying that all the executory terms and provisions of the Agreement, insofar as the same pertain to each said party respectively and any obligation of Escrow Holder relative thereto, have been fully met or complied with, or are waived. Further, each party shall specifically release Escrow Holder from all liability, if any, which it may have in connection with this escrow because of any party's failure to meet or comply with any such executory term or provision of the Agreement, prior to close of escrow. Deposit of written instruction or acknowledgement with Escrow Holder shall constitute each said party's specific authorization to close this escrow. General provisions of Escrow Holder are hereby incorporated in the Agreement. To the extent that the Agreement contains any provisions inconsistent with or contrary to the General Provisions, the Agreement shall remain as the agreement of the parties thereto but Escrow Holder shall be guided by the terms of their General Provisions. Funds Held Fee Agreement If funds remain in escrow on the date which is 90 days after close of escrow (or in the event escrow has not closed, 90 days after the estimated closing date set forth in these instructions) then a monthly funds held fee of $25.00 shall accrue for each month or fraction of a month thereafter that the funds, or any portion thereof, remain in escrow. Escrow Holder is authorized to deduct the monthly funds held fee directly from the funds held on a monthly, or other periodic basis (i.e. quarterly, semi - annually, etc.). By signing below, the parties acknowledge and agree to pay these sums to compensate you for your administration, monitoring, accounting, reminders and other notifications and processing of the funds so held in accordance with this funds held fee agreement. Page 1 of 2