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clear of any and all conditions, restrictions, reservations, exceptions, easements; <br />assessments, profits, limitations, encumbrances (whether monetary or non -monetary, <br />general or specific, and including any and all leasehold interests), liens, clouds or defects in <br />title, excepting such specific ones as the receiving Party may hereinafter expressly agree to <br />take subj ect to. Acceptance by the receiving Party of any such policy of insurance, whether <br />such insurance complies with the requirements of this paragraph or not, shall not constitute <br />a waiver by receiving Party of its,right_to, such insurance as is herein required of the <br />granting,Party; nor a waiver by the receiving Party of any rights of action for damages or <br />any other rights which may accrue to the receiving Party by reason of the failure of the <br />giving Party to convey title or to provide title insurance as required in this Agreement. <br />3.6 PronertyTaxes. <br />(a) Such real property taxes, if any, on the subject real properties for the fiscal year <br />within which said real property is conveyed.to the receiving Party as are unpaid at <br />the time of said conveyance: shall be cleated and paid in accordance with the <br />provisions of Section 4986 'of the Revenue and Taxation Code of the State of <br />California. <br />(b) The granting Party shall be eligible for a refund under Section 5096.7 of the <br />Revenue and Taxation Code of the State of California for that portion of property <br />taxes on said real property for said fiscal year which have been paid prior to the <br />date ;the deed conveying said real property to the receiving Party is recorded which <br />is allocable to that portion of the fiscal year which begins on the date the deed <br />conveying said real property to the receiving Party is recorded. and made <br />uncollectible if unpaid by reason of Section 5086 of the Revenue and Taxation <br />Code of the State of California. To the extent that the granting Party has prepaid <br />any taxes or assessments attributable to the subject real property, the granting Party <br />shall be solely responsible for obtaining any refund due thereon from the taxing <br />authority. Upon written request, the receiving Party shall assist the granting Party, <br />at the granting Party's sole cost, in obtaining said refund, if any; however, in no <br />case shall the receiving Party credit or otherwise pay the. granting Party for that <br />refund, if any, through or outside of Escrow: <br />(c) All unpaid taxes on either property for any and all years prior to the fiscal year <br />within which said conveyance is made shall be paid by the granting Party before <br />conveyance of said real property to the receiving Party. <br />3.7 Deposit of Funds and Documents. <br />(a) Prior to,Close of Escrow; the. Parties shall deposit into Escrow (i) all escrow and <br />Closing Costs as described above; and (ii) such other documentation as is necessary <br />to close Escrow; <br />(b) Prior to the Close of Escrow, each Party shall deposit.into Escrow (i) the properly <br />executed grant deed for conveyance of each Property; (ii) a duly executed bill of <br />sale, assignment and assumption agreement with respect to the tangible and <br />intangible personal property included in, each Property; and (iii) such other <br />documents and sums, if any; as are necessary to close Escrow in conformance <br />herewith. <br />Page 3 of 17 <br />25C-9 <br />