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Agmt11 San Mateo Service League
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Agmt11 San Mateo Service League
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Last modified
1/26/2011 8:44:24 AM
Creation date
1/26/2011 8:43:30 AM
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Template:
Agreement
Contractor Name
San Mateo County Service League
PROJECT NAME
Purchase and Sale of Real Property (3272 Rolison Rd)
RMP File Number
304
Date
1/25/2011
Reso Ref
15063
Amendment
No
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I. Seller shall pay its own legal, professional fees and fees of other <br /> consultants incurred with regard to this transaction. <br /> 3.3.2. Buyer's Costs. The Buyer shall also pay in escrow to the Escrow Agent <br /> the following fees, charges and costs promptly after the Escrow Agent has notified the Buyer of <br /> the amount of such fees, charges and costs, but not earlier than ten (10) days prior to the <br /> scheduled date for the close of escrow: <br /> A. The portion of the premium for the title insurance policy or special <br /> endorsements to be paid by Buyer for any CLTA Extended Coverage desired by Buyer and the <br /> cost of all title policy endorsements which go beyond placing title in a condition acceptable to <br /> Buyer. Buyer shall bear the costs of any required survey if Buyer requires an ALTA Extended <br /> Coverage policy; and <br /> B. Buyer shall pay its own legal, professional fees and fees of other <br /> consultants incurred with regard to this transaction. <br /> 3.3.3. Other Fees. All other fees and miscellaneous costs shall be borne by the <br /> parties according to custom in San Mateo County, as declared by Escrow Holder. <br /> 3.4. Escrow Account. All funds received in this Escrow shall be deposited by the <br /> Escrow Agent with other escrow funds of the Escrow Agent in a general escrow account or <br /> accounts with any state or national bank doing business in the State of California. Such funds <br /> may be transferred to any other such general escrow account or accounts. All disbursements <br /> shall be made by check of the Escrow Agent from such account. All adjustments shall be made <br /> on the basis of a thirty (30) day month. <br /> 3.5. Taxes and Assessments. Ad valorem taxes and assessments, if any, on the <br /> Property, and taxes upon this Agreement or any rights hereunder, levied, assessed or imposed for <br /> any period commencing prior to conveyance of title shall be paid by the Seller. All such ad <br /> valorem taxes and assessments levied or imposed for any period commencing after closing of the <br /> escrow shall be paid by the Buyer. <br /> 3.5.1. Adjustments. All non - delinquent real estate taxes, assessments and any <br /> other similar charges imposed upon the Property by the City, County or any other governmental <br /> or special district, organization or body shall be prorated as of 11:59 p.m. on the day prior to the <br /> Close of Escrow (as defined herein). <br /> 3.6. Escrow Agent Authorization. The Escrow Agent is authorized to, and shall: <br /> 3.6.1. Pay and Charge Seller and Buyer. Pay and charge the Seller and Buyer, <br /> respectively, for any fees, charges and costs payable under Section 3.3 herein. Before such <br /> payments are made, the Escrow Agent shall notify the Seller and Buyer of the fees, charges and <br /> costs necessary to clear title and close the escrow; <br /> 3.6.2. Disbursement. Disburse funds and deliver the deed and other documents <br /> to the parties entitled thereto when the conditions of this escrow have been fulfilled by the Seller <br /> and Buyer; and <br /> 3 <br /> 82483 00000\55 71002.3 <br /> ATTY /AGR/2010.120 <br /> 103010 <br />
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