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AgdaPkt 2020-11-16 Special
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AgdaPkt 2020-11-16 Special
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Last modified
11/17/2020 10:54:32 AM
Creation date
11/12/2020 6:50:43 PM
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Template:
CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Special
Agency Type
City Council
Date
11/16/2020
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5.A. - Page 217 of 302 <br />10.3.2. Intangible Property. A copy or, if in Seller's possession or control, the <br />original of each document evidencing the Intangible Property or rights to ownership and use <br />thereof, including any approvals, certifications, certificates of occupancy, consents, authorizations, <br />licenses, and permits currently in effect in connection with the ownership, development, use and <br />maintenance of the Property; <br />10.3.3. Property Documents. To the extent not previously delivered to or copied <br />by Buyer, copies of or, if in Seller's possession or control, the originals of all of the Property <br />Documents in Seller's possession or control; <br />10.3.4. Personal Property. The Personal Property (if any), including, without <br />limitation, all keys, pass cards, remote controls, security codes or combinations, computer software <br />and other devices relating to access to the Improvements; and <br />10.3.5. Other. Such other documents and instruments as may be reasonably <br />required by Buyer or otherwise in order to effectuate the provisions of this Agreement and the <br />Closing of the transactions contemplated herein. <br />10.4. Closing Procedure. <br />When the Title Company has timely received all documents and funds identified in <br />Sections 10.1 and 10.2, and has received written notification from Buyer and Seller that all <br />conditions to Closing have been satisfied or waived; and the Title Company is irrevocably <br />committed to issue the Title Policy as described in Section 8.1.3, then, and only then, the Title <br />Company shall <br />10.4.1. Record the Deed in the Official Records of San Mateo County, California; <br />10.4.2. Record the Affordable Housing Restriction against the Parcel F property; <br />10.4.3. Record the Option to Purchase against the Parcel F property; <br />10.4.4. Issue the Owner's Title Policy to Buyer; <br />10.4.5. Deliver to Buyer (i) a conformed copy showing all recording information <br />of the Deed, (ii) a fully executed original Bill of Sale and Assignment, Non -Foreign Affidavit, <br />California FTB Form 593-C, Seller's Certificate, and (iii) Buyer's closing statement; <br />10.4.6. Deliver to Seller (i) the Purchase Price (as adjusted for prorations and <br />Seller's share of closing costs, (ii) a fully executed original Bill of Sale and Assignment, (iii) the <br />original of the Letter of Credit; (iv) the original of the Guaranty; (v) a conformed copy of the <br />Affordable Housing Restriction; (vi) a conformed copy of the Option to Purchase; and (vii) Buyer's <br />closing statement. <br />10.5. Environmental Release. <br />Except with respect to a breach of any express representation or warranty or <br />covenant hereunder by Seller for which Buyer does not release Seller under this Section 10.5, <br />ATTY/AGR/2020.257/REDWOOD CITY GREYSTAR PURCHASE & SALE AGREEMENT 1306 MAIN ST <br />REV: 11-05-2020 VR <br />1199\11\2925009.5 <br />Page 21 of 84 <br />220 <br />
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