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Agmt04 cinema - closing docs
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Agmt04 cinema - closing docs
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Last modified
7/5/2005 2:27:38 PM
Creation date
12/6/2004 9:14:09 AM
Metadata
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Template:
Agreement
Contractor Name
numerous files
PROJECT NAME
Cinema - closing documents from escrow
RMP File Number
100 bin 24
Date
11/29/2004
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<br /> 2. Documents - The Developer will deposit a fully executed and binding copy <br /> of the Cinema Lease as provided in the DDA, unless the Agency waives this condition in writing. <br /> D. Joint Deposits by Parties - <br /> The Parties shall have jointly deposited, or shall all have separately waived <br /> in writing the requirement for the deposit of, the following: <br /> 1. A fully executed Memorandum of Amended Disposition and Development <br /> Agreement for Downtown Retail-Cinema and Parking Project ("Memorandum of DDA"); and <br /> 2. Such other documents as are reasonably required by the Escrow Agent <br /> in order to comply with the provisions of the DDA andJor these joint escrow instructions. <br /> Section II . Conditions for Close of Escrow <br /> The Escrow Agent shall close the escrow, as provided in Section V, when the <br /> following conditions have been met: <br /> A. First American Title Insurance Company is unconditionally prepared and <br /> irrevocably committed to issue to Developer its Owner's Policy of Title Insurance (Form B 1970, <br /> amended 10/17/70 only) in the amount of Thirty One Million Dollars ($31,000,000) in the exact <br /> form set forth in the Proforma attached hereto as Exhibit A (including all endorsements and <br /> handwritten changes) and insuring Developer as the fee simple owner of Parcel A. <br /> B. The Escrow Agent holds the documents required to be deposited pursuant to <br /> Section I above, such documents being duly executed and acknowledged where required, and the <br /> funds required to be deposited in Section I above. <br /> C. The following conditions identified in the DDA have been waived by the Agency <br /> or acknowledged to have been satisfied: <br /> I. The requirement that the parties agree as to the Parking Facilities Cost <br /> (DDA Section 402.A.6), which has been satisfied. <br /> 2. The determination of a feasible means of financing the Public Parking <br /> Facility (DDA Section 402.A 7), which has been satisfied. <br /> D. The following conditions identified in the DDA have been waived by the <br /> Developer or acknowledged to have been satisfied: <br /> 1. The requirement that the parties agree as to the Parking Facilities Cost <br /> (DDA Section 402.B.16). <br /> REDW\0002\DOC\008-8. WPD <br /> 3 11 \5\04 900 law <br /> .. . _..........- <br />
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