Res13 15289 - Laserfiche WebLink

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_ _ _ _.. _� : � � � �� 3.6.5 Pazkin� Covenant and Agreement. The Parking Covenant and Agreement (Exhibit I) executed by the authorized representative(s) of the City in recordable form; 3.6.6 Environmental Holdback A�reement. The Environmental Holdback Agreement(Exhibit K)executed by the anthorized representative(s)of the City; and 3.6.7 Other Funds and Documents. Such other funds or documents requized from the City under the terms of this Agreement to close the Escrow or by the Escrow Agent in the performance of the Escrow Agent's contractual or statutory obligations regarding the Escrow. 3.7 Closing Procedure. When each of the Developer's Escrow deposits, as set forth in Section 3.5, and each of the City's Escrow deposits, as set forth in Section 3.6, are deposited into the Escrow, the Escrow Agent shall request confirmation in writing from both the Developer and the City that each of their respective conditions to the Close of Escrow, as set forth in Section 3.3 and Section 3.4, respective, aze satis�ed or waived. Upon the Escrow Agent's ' receipt of written confirmation from both the City and the Developer that each of their respective conditions to the Close of Escrow aze either satisfied or waived,the Escrow Agent shall schedule the Escrow Closing Date by written Notice to both Parties and, thereafter, shall close the Escrow by doing all of the following: 3.7.1 Recordation and Distribution of Documents. Escrow Agent shall file the following documents with the office of the Recorder of the County for recording in the official records of the County, in the following order, at the Close of Escrow: (i)the City Deed covering the City Property, (ii)the Notice of Agreement to be recorded against the Site, (iii)Senior Loan Mortgage to be recorded against the Site, if applicable, (iv)the Pazking Covenant and Agreement to be recorded against the Site, and (v) any other documents to be recorded through the Escrow upon the joint instructions of the Parties. The Escrow Agent shall deliver conformed copies of all documents filed for recording in the official records of the County and originals or copies of all other documents delivered through the Escrow to the City, the Developer and any other Person designated in the joint escrow instructions of the Parties to receive an original or conformed copy of each such document. Each copy of a document filed for recording sha11 show all recording information. The Parties intend and agree that this Section 3.7 shall establish the relative priorities of the documents to be recorded in the o�cial records of the County through the Escrow, by providing for recordation of seniar interests prior in time to junior interests, as provided in this Section 3.7; 3.7.2 PCO Report. File the PCO Report with the off'ice of the Recorder of the County of San Mateo,California; 3.7.3 FIRPTA Affidavit. File the FIRPTA Affidavit with the United States Internal Revenue Service; 3.7.4 Form 593. File the Form 593 with the State of California Franchise Tax Board; 2� 2013.118/BLOCK 2 HUNTER STORM REV:07-26-13 PT