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25F - AGMT PROPERTY EXCHANGE
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25F - AGMT PROPERTY EXCHANGE
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Last modified
2/15/2018 5:59:37 PM
Creation date
2/15/2018 5:52:23 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Public Works
Item #
25F
Date
2/20/2018
Destruction Year
2023
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EXHIBIT "E°, <br />(First American) <br />GFNFRAL FSCROWWr PROVISIONS <br />All disbursements shall be in.ade by Escrow's check. All funds received in this escrow shall be deposited <br />in one or more of your general escrow accounts with any bank doing business in the State of California <br />and may be transferred to any other general escrow account or accounts. The expression "close of <br />escrow" means the date on which instruments referncd to hervia arc filed for rcwrJ. All adjusttucnts ace <br />to be made on the basis of a 30 -day month. Recordation of any instruments delivered through this escrow, <br />If necessary or proper in the issuance of a policy of title insurance called for, is hereby autborized. <br />There shall be no proration of any existing insurance policies In this escrow. <br />You are to fbinish a copy of these instructions, amendments thereto, closing statements and/or any other <br />documents deposited in this csorow to the lender or lenders, the roal estate broker or brokers and/or the <br />attorney or attorneys involved in this transaction upon request of such lenders, brokers or attorneys. <br />Should you before or after close of escrow receive or become aware of any conflicting demands or claims <br />with respect to this escrow or the rights of any of the parties hCTetn, or any money or property deposited <br />herein affected hereby, you shall have the right to discontinue any or all farther acts on. your pan until <br />such conflict is resolved to your satisfaction, and you shall have the further right to commence or defend, <br />any action or proocedings for the determination of such eonfliot. The parties hereto jointly and severally <br />agree to pay all costs, damages, judgments and expenses, including reasonable attorney's fees, suffered or <br />incurred by you in connection with, or arising out of this escrow, including, but without limiting the <br />generality of the foregoing, a suit in InterplcadeT brought by you. In the event you file a suit in <br />interpleader, you shall ipso facto be fully released and discharged from all obligations imposed upon you <br />in this escrow. <br />If for any reason funds are retained or remain in escrow, you are to deduct therefrom a reasnnahle monthly <br />charge as custodian tbereof 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, you <br />will return all documents, money or property to the party eutiticd thereto upon satisfactory, written demand <br />and authorization. Any amendment of and/or supplement to any Instructions must be in writing. The <br />seller agrees to sell and the buyer agrees to buy the property herein described upon the terms hereof. <br />These escrow instructions, and amendments hereto, may be executed in one or more counterparts, each of <br />which independently shall have the same effect as If it were the original, and all of which taken together <br />shall constitute one and the same instruction. <br />Page 26 of 26 <br />25F-32 <br />
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