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25E - BRISTOL ST PURCHASE AGMTS PHASE 4
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25E - BRISTOL ST PURCHASE AGMTS PHASE 4
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Last modified
10/13/2016 3:17:42 PM
Creation date
10/13/2016 3:14:48 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Public Works
Item #
25E
Date
10/18/2016
Destruction Year
2021
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EXHIBIT "C" (First American) <br />GENERAL ESCROW PROVISIONS <br />All disbursements shall be made by Escrow's check. All funds received in this escrow shall be <br />deposited In one or more of your general escrow accounts with any bank doing business in the State <br />of California and may be transferred to any other general escrow account or accounts. The expression <br />"close of escrow" means the date on which instruments referred to herein are filed for record. All <br />adjustments are to be made on the basis of a 30 -day month. Recordation of any instruments delivered <br />through this escrow, if necessary or proper in the issuance of a policy of title insurance called for, Is <br />hereby authorized. <br />There shall be no proration 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 <br />other documents deposited in this escrow to the lender or lenders, the real estate broker or brokers <br />and/or the attorney or attorneys involved in this transaction upon request of such lenders, brokers or <br />attorneys. <br />Should you before or after close of escrow receive or become aware of any conflicting demands or <br />claims with respect to this escrow or the rights of any of the parties hereto, or any money or property <br />deposited herein affected hereby, you shall have the right to discontinue any or all further acts on your <br />part until such conflict is resolved to your satisfaction, and you shall have the further right to commence <br />or defend any action or proceedings for the determination of such conflict. The parties hereto jointly <br />and severally agree to pay all costs, damages, judgments and expenses, including reasonable <br />attorney's fees, suffered or incurred by you in connection with, or arising out of this escrow, including, <br />but without limiting the generality of the foregoing, a suit in interpleader brought by you. In the event <br />you file a suit In interpleader, you shall ipso facto be fully released and discharged from all obligations <br />imposed upon you 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 less than $10.00 per month. <br />Time is 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 is required to make an examination of the official records, <br />you will return all documents, money or property to the party entitled thereto upon satisfactory written <br />demand and authorization. Any amendment of and/or supplement to any instructions must be in writing. <br />The seller agrees to sell and the buyer agrees to buy the property herein described upon the terms <br />hereof. <br />These escrow instructions, and amendments hereto, may be executed in one or more counterparts, <br />each of which independently shall have the same effect as if it were the original, and all of which taken <br />together shall constitute one and the same instruction. <br />25E-14 <br />
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