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Res19 15814
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Res19 15814
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Last modified
12/19/2019 12:10:56 PM
Creation date
12/19/2019 12:09:14 PM
Metadata
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Template:
CC Index
CC Index - Document Type
Resolution
Meeting Type
Joint
Agency Type
City Council and Successor Agency and Public Financing Authority
Date
12/16/2019
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9.3 Seller's Deposit of Documents and Funds Into Escrow. Seller shall deposit into <br />escrow on or before Closing the following documents: <br />9.3.1 A duly executed and acknowledged grant deed, in the form acceptable to <br />Buyer, conveying the Property to Buyer ("Grant Deed") in the form attached as Exhibit C; <br />9.3.2 A certificate executed by Seller stating that all representations and <br />warranties made by Seller pursuant to this Agreement are true and correct as of the Closing Date <br />("Seller's Certificate"); <br />9.3.3 Buyer shall pay for the CLTA increment of the premium for the Title <br />Policy and Seller shall pay all other costs of Closing, including recording fees, transfer taxes and <br />fees, one-half of the escrow fees, sales tax and any other costs of Closing customarily paid by <br />sellers of real property, plus or minus prorations as provided in Section 9.8 (Proration); <br />provided that, subject to Section 9.6 (Default, Termination and Remedies), Buyer and Seller <br />shall bear their own attorneys' fees and costs in connection with the negotiation and preparation <br />of this Agreement and the transactions completed by this Agreement; <br />9.3.4 Seller's Non -foreign Certification; <br />9.3.5 All records and files relating to the management or operation of the <br />Property, including, without limitation, property tax bills, insurance, and property taxes; and <br />9.3.6 Such additional documents, including written escrow instructions <br />consistent with this Agreement, as may be necessary or desirable for conveyance of the Property <br />in accordance with this Agreement. <br />9.4 Deliveries Outside of Escrow. Notwithstanding Section 9.3 (Seller's Deposit of <br />Documents and Funds Into Escrow), Seller and Buyer may elect to deliver the documents <br />described in Section 9.3 outside of escrow (other than documents which are to be recorded) by <br />giving Escrow Holder a joint written notice of such election, specifying the documents which <br />will be so delivered outside of escrow. Upon receipt of such notice, Escrow Holder shall have <br />no further obligation concerning such specified documents. <br />9.5 Buyer's Deposit of Documents and Funds. Buyer shall deposit into escrow: <br />9.5.1 The Purchase Price in accordance with the provisions of Article 2, plus or <br />minus prorations as provided in Section 9.8 (Proration), by cashier's or certified check or <br />electronic transfer of federal funds to Escrow Holder, on or before the Closing Date; and <br />9.5.2 Such additional documents, including written escrow instructions <br />consistent with this Agreement, as may be necessary or desirable for conveyance of the Property <br />in accordance with this Agreement. <br />9.6 Default, Termination and Remedies. <br />9.6.1 Buyer's Termination. This Agreement shall automatically terminate <br />without further notice or action by Buyer upon the occurrence of any of the following events, <br />82483.00016\32456469.4 13 <br />
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