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20C - AA - BRISTOL ST PHASE 4
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20C - AA - BRISTOL ST PHASE 4
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Last modified
12/14/2017 7:10:08 PM
Creation date
12/14/2017 7:06:27 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Public Works
Item #
20C
Date
12/19/2017
Destruction Year
2022
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EXHIBIT "B" (First American) <br />GENERAL ESCROW PROVISIONS <br />All .disbursements shall be made by Escrows 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 <br />expression 'close of escrow" means the date on which instruments referred to herein are filed for <br />record. All adjustments are to be made on the basis of a 30 -day month. Recordation of any <br />instruments delivered through this escrow, if necessary or proper in the issuance of a policy of title <br />insurance called for, is hereby authorized. <br />There shall be no proration of any existing insurance policies in this escrow. <br />You are to fumish 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 orbrokers <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 withrespect 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 <br />your part until such conflict is resolved to your satisfaction, and you shall have the further "right to <br />commence or defend any action or proceedings for the determination of such conflict. The parties <br />hereto jointly and severally agree to pay all costs, damages, judgments and expenses, including <br />reasonable attorneys fees, suffered or incurred by you In connection with, or arising out of this <br />escrow, including, but without limiting the generality of the foregoing, a suit in Interpleader brought by <br />you. In the event you file a suit in interpleader, you shall Ipso facto be fully released and discharged <br />from all obligations 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 <br />records, you will return all documents, money or property to the party entitled thereto upon <br />satisfactory written demand and authorization. Any amendment of and/or supplement to any <br />instructions must be in writing. The seller agrees to sell and the buyer agrees to buy the property <br />herein described upon the terms 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 <br />taken together shall constitute one and the same Instruction. <br />20C-15 <br />
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