Res13 15289 - Laserfiche WebLink

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� �w � _ _ _.. y.._�.F��. _ __ _ _ . matter acceptable to the City. Within thirty (30) calendar days after receipt of any Notice from the City stating that a submitted matter is not acceptable to the City, the Developer shall appropriately revise any matter disapproved by the City in a manner intended in good faith to obtain the City's approval of such matter and re-submit such matter to the City for approval. The process applicable to the City's consideration of the initial submittal of any matter shall apply to any re-submittal of such matter, following its disapproval by the City. If the City fails to Notify the Developer that it does not approve of any submitted matter within the requisite thirty (30) calendar day period,then such matter shall be deemed approved by the City. ARTICLE 3 JOINT ESCROW INSTRUCTIONS 3.1 Opening of Escrow. The City and the Developer shall cause the Escrow to be . opened within five (5} days following the Effective Date of this Agreement. The Escrow Agent shall promptly confirm the Escrow Opening Date in writing to each of the Parties. The Escrow Closing Date shall be on or before the later of (i) December 6, 2013, or (ii) the date which is ' fifteen (15) days after the satisfaction of each of the conditions to Developer's and City's obligation to close escrow set forth in Sections 3.3 and 3.4, respectively, unless the Escrow Closing Date is extended as provided in this Agreement; provided,however,that at the option of Developer, the Close of Escrow may occur earlier than the date established pursuant to the preceding sentence if each of the following conditions are true (i) Developer shall have{a) given City not less than fifteen (15) days prior written notice of such earlier date for Close of Escrow, ' and (b) determined and conf'irmed to City in writing accompanying such notice that the conditions precedent to its obligations set forth in Section 3.3 have either been satisfied or waived by Developer, and (ii) City shall have conf'umed to Developer in writing on or before such earlier date that the conditions precedent to its obligations set forth in Section 3.4 have been satis�ed or waived by City. This ARTICLE 3 shall constitute the joint escrow instructions of the City and the Developer to the Escrow Agent for conducting of the Escrow. 3.2 Escrow Agent Authority. The City and the Developer authorize the Escrow Agent to: 3.2.1 Char�e. Pay and charge the City and the Developer for their respective shares of the applicable fees, charges and costs payable by either the City or the ' Developer regarding the Escrow; 3.2.2 Settlement/Closing Statements. Release each Party's Escrow settlement/closing statement to the other Party; and 3.2.3 Document Recording. Record any instruments delivered for recording through the Fscrow in the official records of the Recorder of the County, pursuant to the joint instructions of the Parties. 3.3 Developer's Conditions to Close of Escrow. Provided that the failure of any such condition to be satisfied is not due to a Default undez this Agreement by the Developer, the Developer's obligation to purchase ttie City Property from the City on the Escrow Closing Date zt 2013.118/BLOCK 2 HUNTER STORM REV:07-26-13 PT