RecD05 2005-141296 - Laserfiche WebLink

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Section 2.04. Conveyance Possession. of Title and Delivervof a. Subject to the conditions set forth in Section 2.07 hereof with respect to the Escrow and to any mutually agreed upon written extension of time or extensions otherwise authorized by this Agreement, conveyance to the Developer of title to the Property, and the completion of all other acts required for each such transfer by the Agency, the Developer or the Escrow Agent shall be completed on or prior to the closing date for the Escrow, as specified below. The Agency and the Developer agree to perform all acts necessary for conveyance of title to the Property in the form and to the extent required herein, in sufficient time for title to be conveyed in accordance with this provision. b. Possession of the Property shall be delivered to the Developer concurrently with the conveyance of title. c. The Close of Escrow shall be take place within thirty (30) days of the opening of Escrow. In the event that the Close of Escrow cannot occur by the specified closing date due to one or more of the conditions set forth in Section 2.07 of this Agreement having not been satisfied or waived, the closing date for Escrow shall be automatically extended for an additional period of sixty (60) days to permit the satisfaction or waiver of such unsatisfied conditions. The Agency and Developer may agree to additional extensions of any of the closing dates, not to exceed an additional ninety (90) days. Section 2.05. the Developer title to Section 2.06 of this substantially in the "Grant Deed"). Form of Deed. The Agency shall convey to the Property in the condition provided in Agreement and by means of a grant deed form attached hereto as Exhibit "G" (the Section 2.06. Condition of Title. The title to the Property conveyed by the Agency to the Developer shall be a marketable title free and clear of encumbrances and exceptions, except for: (a) the agreements, covenants and conditions of this Agreement and the Grant Deed, (b) such pre-existing easements or rights-of-way as may be disclosed by the Preliminary Title Report and approved by the Agency and the Developer, (c) real property taxes for the fiscal year in which escrow closes which constitute a lien not yet payable, (d) certain easements to be retained by the Agency, on behalf of it, the City or any utility provider, as set forth in Exhibit "H" hereto and (e) the effect of continuing litigation with respect to any parcel of the Property in an eminent 10 REDW\0006\DOC\001-7 3/29/05 3:15 /rove