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25K - AGMT - BRISTOL TENTANT PHASE 3A
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25K - AGMT - BRISTOL TENTANT PHASE 3A
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4/17/2017 11:11:30 AM
Creation date
4/13/2017 5:47:07 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Public Works
Item #
25K
Date
4/18/2017
Destruction Year
2022
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( "Quitclaims Deed "), relinquishing, releasing, and forever quitclaiming to Buyer all right title and <br />interest in and to the Tenancy Interest. <br />4. Tenant - Seller wilt vacate the property by March 23, 2017. <br />S. CONVEYANCE OF INTEREST IN IMPROVEMENTS. The Quitclaim Deed will. <br />also convey from Tenant - Seller to Buyer all of Tenant - Seller's interest in and to the Improvements, <br />which conveyance shall be free and clear of all recorded and unrecorded encLUnbrances, liens, <br />assessments, leases, and taxes. Unless otherwise provided, recording of the Quitclaim Deed and <br />Closing (as defined below) of the transaction described herein shall be subject to Tenant- Seller's . <br />vacation of the Premises and proof of clear title to all said Improvements having been obtained and <br />received by Buyer in accordance with Paragraphs 8 and 9 of this Agreement. <br />6, RECORDING, Recordation of any documents delivered through this Agreement is <br />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 document <br />has been signed by or on behalf of Tenant - Seller for the purpose of creating any lien, encumbrance, <br />or security interest in any of the Improvements, and that the Tenant - Seller does not know of any <br />claim of lien, encumbrance, or other security interest therein, EXCEPT: (a) Trust Deeds on the <br />Property, duly recorded; and (b) real and personal property taxes. <br />S. 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 of <br />this transaction for the purpose of making necessary inspections. <br />9, BULK SALE. In order to establish proof of clear title to the Improvements, Buyer <br />may publish a Notice to Creditors pursuant to the Bulk Sales Law of the State of California and <br />obtain a title report and /or a report from the Secretary of State's Office as to filings of security <br />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, Buyer <br />shall, upon receiving notice or knowledge thereof, withhold an amount otherwise payable to <br />Tenant - Seller as is reasonably necessary, in the sole opinion of Buyer, to protect Buyer against such <br />claim of interest or lien. The withholding of such funds shall not prevent Closing of this transaction <br />if the total funds to be withheld from Tenant - Seller do not exceed the net amount to be paid to <br />Tenant- Seller through this transaction. Buyer will not pay out the withheld fund's or disburse any <br />withheld funds to any claimant or other party (except upon court order or levy) without the written <br />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 aid Tenant - Seller hereby agrees to accept all responsibility therefore. Unless <br />otherwise provided, it shall be presumed that Tenant - Seller is entitled to payment Linder this <br />transaction for the Improvements. It shall be presumed that the Property owner is the owner of all <br />improvements, fixtures and equipment associated with the Premises other than the Improvements. <br />25K -6 <br />
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