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25D - AGMT WARNER PROPRETY ACQUISITION
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25D - AGMT WARNER PROPRETY ACQUISITION
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Last modified
4/26/2018 6:47:19 PM
Creation date
4/26/2018 6:40:14 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Public Works
Item #
25D
Date
5/1/2018
Destruction Year
2023
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EXHIBIT "B" (Commonwealth Land Title Company) <br />GENERAL ESCROW PROVISIONS <br />All disbursements shall be made by Escrow s.check. All funds received in this escrow shall be deposited in <br />one or more of your general escrow accounts with any bank doing, business in the State of California and <br />may be transferred to ,any other general escrow account or accounts. The expression "close of escrow" <br />means the date on which instruments referred to herein are filed for record. All adjustments are to be made <br />onthebasis of a 30-day"month. Recordation of any instruments delivered through.this escrow, if necessary <br />or proper in the issuance of a policy of title insurance called for, is hereby authorized. <br />There shall be no proration of any existing insurance policies in this escrow. <br />You are io fumish a copy of these instructions;,amendments thereto, closing statements and/or any other <br />documents deposited in this escrow to the lender or lenders; ithe real estate broker or brokers and/or the <br />,attorney or attorneys involved in this transaction upon:requestof 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 hereto, or any money or property deposited <br />herein affected hereby, you shall have the right to discontinue any or all further acts on your part until such <br />conflict is resolved to your satisfaction, and, you shall have the further right to commence or defend. any <br />action' or, proceedings for the determination of such conflict. The parties hereto jointly and severally agree to <br />pay all costs, damages, judgments and expenses, including reasonable attorney's fees, suffered or incurred <br />by you In connection with, or arising out of this escrow, including, but without limiting the generality of the <br />foregoing, p suit in interpleader brought by you. In the event you file a suit in interpleader, you shall ipso <br />facto be fully,released and discharged 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 monthly <br />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 records,, you <br />will return all documents, money or property to the party entitled thereto upon satisfactory written demand <br />and authorization. Any amendment of and/or supplement to any instructions must be in writing. The seller <br />agrees to sell and the buyer agrees to buy the property, herein described upon the terms hereof. <br />These escrow instructions, and amendments. heneio, 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 shall <br />constitute one and the same instruction. <br />25D-13 <br />
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