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Agmt99 Peninsula Habitat... (2)
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Agmt99 Peninsula Habitat... (2)
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Last modified
8/28/2012 3:07:56 PM
Creation date
5/19/2005 1:12:24 PM
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Agreement
Contractor Name
Peninsula Habitat for Humanity
PROJECT NAME
422 & 430 Lincoln Avenue
RMP File Number
304
Date
1/28/1999
Reso Ref
13546
Box
5900
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Subj ect to any mutually agreed upon written extensions of <br /> time or any extensions otherwise authorized by this Agreement, the <br /> parties shall deposit with the Escrow Agent promptly at such time <br /> as such documents have been fully prepared and executed, but in no <br /> event later than ten (10) calendar days, except where a different <br /> time period is specifically provided herein, before the Closing <br /> Date, any and all documents which are required in order for the <br /> Escrow to close in accordance with this Agreement . The Grant Deed <br /> shall be prepared by the Agency, at the Agency' s expense . The legal <br /> description of the Property will be provided by the Agency, and <br /> shall encompass all of the Property shown on Exhibit "A" hereto as <br /> being a part of the Project . Al1 other documents required to be <br /> recorded in order to permit the Close of Escrow shall be prepared <br /> by the Developer at its cost and expense. <br /> Section 2 . 09 . Recordation of the Grant Deed and other <br /> Documents. <br /> When the parties have deposited into the Escrow all <br /> documents and funds as required by this Agreement, and all <br /> conditions for the Close of Escrow have been satisfied, the Escrow <br /> Agent shall promptly file for recordation among the land records in <br /> the Office of the County Recorder where the Property is located: <br /> (i) the Grant Deed—, (ii) the Declaration of Affordability <br /> Covenants and the Declaration of Redevelopment Covenants, and (iii) <br /> this Agreement . If a deed of trust is required in connection with <br /> the Public Assistance, the parties agree that it shall be recorded <br /> in first position, provided that the Agency has approved the terms <br /> thereof in the exercise of its reasonable discretion. The Escrow <br /> Agent shall thereafter promptly provide a conformed copy of said <br /> recorded documents to both parties, shall promptly deliver to the <br /> Developer a title insurance policy in conformity with this <br /> Agreement and shall otherwise deliver to the appropriate party any <br /> other documents which are required to be delivered. The Escrow <br /> Agent shall provide to each party a complete set of copies of all <br /> documents received or generated by the Escrow Agent in the Escrow <br /> and copies of both closing statements . <br /> Section 2 . 10 . Title Insurance . Concurrent ly wi th <br /> recordation of the Grant Deed, the '?'-L�_ ��:�pan�rEscrow Holder shall <br /> provide and deliver to the Developer an ALTA owner' s policy of <br /> title insurance issued by the Title Company insuring that the title <br /> to the Property is as required pursuant to the terms of this <br /> Agreement . The title insurance policy shall be in the amount of <br /> One Million Two Hundred Two Thousand Five Hundred Dollars <br /> ($1, 202, 500 . 00) . <br /> REDW\0006\DOC\013-7 <br /> 1 1 1\11\08 940 law <br />
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