CDBG Loan Documents - Martha Moreno and Adelina Moreno

Browse Search

Escrow Officer: Michelle Pineda Escrow No.: 0227031539 -MP Property: 142 Center Street, Redwood City, California 94061 Date: October 24, 2025 Finally, all disbursements are made by Escrow Holder's check or wire transfer unless otherwise instructed in writing, and the disbursement of funds may not take place on the same business day as recordation of the document. While Escrow Holder will diligently attempt to complete all disbursements within one business day of recordation, the parties acknowledge that recordation may not be completed with sufficient time to meet the established cutoff times for electronic transfer of funds or delivery by overnight mailing, which could result in the accrual of additional interest for any loan payoff. 2. Prorations and Adjustments. The parties acknowledge and agree all prorations and/or adjustments called for in this escrow are to be made on the basis of a thirty (30) day month unless otherwise instructed in writing. At closing, Escrow Holder may adjust estimated amounts and prorations and other items that may change based on the recording date. In all acts relating, but not limited to, fire/hazard insurance, rents and rental deposits, real property taxes, and interest, Escrow Holder shall presume that the information provided to Escrow Holder by the parties to this escrow, or their agent(s), is correct and that insurance premiums have been paid. 3. Recordation of Documents. The parties authorize Escrow Holder to cause the recordation of any documents delivered to escrow, which in the sole discretion Old Republic Title Company are necessary and proper for the issuance of a policy or policies of title insurance in connection with this escrow. Escrow Holder is further authorized to collect a Recording Service Fee and all funds required by the applicable governmental agency to record any such documents. 4. Authorization to Furnish Copies. The parties authorize Escrow Holder to furnish copies of these instructions and any supplements thereto, notices of cancellation, and settlement statements to the real estate agent(s), broker(s) and lender(s) in this escrow. The parties further authorize Escrow Holder to provide copies of documents submitted or deposited by a party to any other party as necessary for compliance with Federal and State laws and regulations. S. Delivery of Non -Recorded Documents. The parties acknowledge and agree that upon close of escrow, documents that are not required to be recorded may be delivered by Escrow Holder by depositing same in the United States Mail, or transmitting by email, addressed to the party entitled thereto, at the mailing address provided to Escrow Holder. 6. Conflicting Instructions. The parties acknowledge and agree that upon receipt of any conflicting instructions (other than cancellation instructions), Escrow Holder is no longer obligated to take any further action in connection with this escrow until further consistent instructions are received from the parties. The parties authorize Escrow Holder to hold all monies and/or instruments in this escrow until otherwise directed, either by the parties' mutual written instructions or by final order of a court of competent jurisdiction. In the event of conflicting claims to any funds or other documents, Escrow Holder shall have the absolute right, at Escrow Holder's discretion, to file an action in interpleader requiring the parties to answer and litigate their several claims and rights amongst themselves. Any such action must comply with the requisite statutes of the State of California in this regard. 7. Disclosure. The parties acknowledge and agree Escrow Holder shall have no duty to disclose to any party to this escrow any information which may come to Escrow Holder's attention concerning this transaction unless specifically requested to do so by any party. S. Right of Cancellation. This escrow shall be deemed canceled upon Escrow Holder's receipt of any party's instruction to cancel the escrow. The parties acknowledge Escrow Holder then is no longer obligated to take any further action in connection with this escrow until receipt of mutual non -conflicting instructions from the parties. Upon receipt of mutual, non -conflicting instructions regarding the disbursement of funds in the escrow, Escrow Holder shall disburse the funds in accordance with the instructions, less fees and other costs incurred in connection with the escrow. In the absence of non -conflicting instructions regarding the disbursement of funds in the escrow, the parties authorize and instruct Escrow Holder to hold all earnest money funds in accordance MP/MP Page 3 of 5 Borrower's Instructions No. Cal