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<br />Bradford Street Property will be deemed adequate to meet the on-site parking requirements for the <br /> <br />Building in the event the District conveys the Bradford Street Property to a third party at any time in <br /> <br />the future. <br /> <br />d. Upon close of escrow, Agency shall receive a fee simple interest in the Bradford <br /> <br />Street Property, subject only to easements of record, taxes, and existing obligations created through <br /> <br />the redevelopment agency, and specifically excepting those encumbrances required to be removed <br /> <br />pursuant to section 7. <br /> <br />e. The parties acknowledge that certain public entities traverse the Bradford Street <br /> <br />Bradford Street Property, as generally shown in Exhibit B, attached hereto and incorporated herein <br /> <br />by this reference. <br /> <br />3. Escrow. <br /> <br />a. Escrow has been established with First American Title Company ("the Escrow <br /> <br />Holder"). All matters relating to escrow for the acquisition of the Bradford Street Property that are <br /> <br />the subject of this Agreement shall be handled by the Escrow Holder. The parties shall promptly <br /> <br />prepare escrow instructions, as requested by the Escrow Holder, adequate to fully carry out the <br /> <br />terms and conditions of this Agreement. Such escrow instructions shall incorporate the provisions <br /> <br />of this Agreement. <br /> <br />b. Close of escrow shall occur no later than thirty (30) days after the date this <br /> <br />Agreement is fully executed by the parties, unless extended in writing by the Director of Agency <br /> <br />and the City Manager of City, and subject to any right either party may have under this Agreement <br /> <br />to terminate escrow. <br /> <br />Agmt-193 <br />flsh/shlRC/Councii <br />FXS:rg <br />08/25/98 <br /> <br />3 <br />