75A - PH - PROPERTY EXCHANGE - Laserfiche WebLink

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(b) The granting Party shall be eligible for a refund tinder Section 5096.7 of the Revenue and Taxation Code of the State of California for that portion of property taxes on said real property for said fiscal year which have been paid prior to the date the deed conveying said real property to the receiving Party is recorded which is allocable to that portion of the fiscal.yoar which begins on the date the deed conveying said real property to the receiving Party is recorded and.made uncollectibleif unpaid by reason of Section 5086 of the Revenue and Taxation Code of the State of California, To the extent that the granting Party has prepaid any taxes or assessments attributable to the subject real property,, the granting Party shall be solely responsible for obtaining any refund due thereon from the taxing authority. Upon written request, the receiving Party shall assist the granting Party, at the granting Party's sole cost, in obtaining said refund, if any, however; in no case shall the receiving Party credit or otherwise pay the, granting Party for that refund, if any, through or outside of Escrow. (c) All unpaid taxes on either property for any and all years prior.to the fiscal year within which said conveyance is made'shall be paid by"the granting Party before conveyance of said real property to the receiving Party. 3.7 Deposit of Funds and Documents. (a) Prior to Close of Escrow, the Parties shall deposit into Escrow (i) all escrow and Closing Costs as described above; (ii) the Appraisal Difference; and (iii) such other documentation as is, necessary to close Escrow; provided, however, that Naing shall not be required to deposit the Appraisal Difference until Naing has .been notified by Escrow Molder that (i) .City has delivered to Escrow Holder each of the documents and instruments to be delivered by City in connection with.the transfer of the Property, (ii) Title Company is irrevocably and unconditionally committed to issue and deliver the Title Policy, and (iii) the onfyimpediment.to Close of Escrow is delivery of snch amount by or on behalf of Naing. (b) Prior .to the Close of Escrow, each Party shall deposit into Escrow (i) the properly executed grant deed for conveyance of each Property; (ii) a duly executed bill of sale,. assignment and assumption agreement with respect to the tangible and intangible personal property included in each Property; and (sir) such other documents and sums, if any, as are necessary to close Escrow in conformance herewith. 3.8 Conditions Precedent to Close of Escrow. The obligation of the Parties to exchange the Properties as contemplated by this Agreement and, the Close of Escrow is subject to satisfaction of each of the following conditions: ....... _ 758 A-