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SCity Clerk17091415150
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10/19/2017 10:48:04 AM
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9/14/2017 3:54:03 PM
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Agreement
Contractor Name
Redwood City Elementary School District
PROJECT NAME
Exchange of Properties exchanging Bradford St. property for District’s Broadway Ave property
RMP File Number
405
Date
9/9/1998
Reso Ref
Rd 98-13 and 98-14
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terminate escrow. <br />c. All escrow fees and recording charges related to the transactions which are the <br />subject of this Agreement, shall be shared by Agency and District on an equal basis. District shall <br />pay all costs of title insurance for the Bradford Street Property. Agency shall pay all costs of title <br />insurance for the Broadway Avenue Property. <br />d. All sums deposited by Agency with Escrow Holder pursuant to section 1.c.(2) <br />above, shall be deposited in an interest bearing account for the benefit of Agency. <br />4. Hazardous Materials. <br />a. Agency shall conduct such Hazardous Materials investigations as are required on <br />both the Bradford Street Property and Broadway Avenue Property, including at a minimum a Phase <br />I and Phase II investigation. Agency shall pay the cost of any Hazardous Materials investigation, <br />monitoring, and remediation required on either or both properties, including the cost of any asbestos <br />abatement required on either or both properties, as a result of an order or other determination issued <br />by any governmental agency having jurisdiction with respect to such Hazardous Materials in <br />connection with Hazardous Materials present and in existence at the properties as of the date of the <br />close of escrow. Agency's obligation to pay the cost of investigation, monitoring, and cleanup shall <br />survive the close of escrow, and transfer of the Broadway Avenue and Bradford Street Properties. <br />District will cooperate with Agency in the event that investigation, monitoring and/or cleanup of <br />Hazardous Materials on the Bradford Street Property is required so that any such Hazardous <br />Materials activities may be conducted in the most reasonable and cost effective manner, but in no <br />event will the District be obligated to expend District funds on the investigation, monitoring and/or <br />cleanup of Hazardous Materials on either the Broadway Avenue of the Bradford Street Properties. <br />The provisions of this section shall not preclude Agency from pursuing such legal remedies as it <br />
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