8H Consent 2009 0504 - Laserfiche WebLink

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(b) Exception numbers through as shown on that certain title report (Order No. ), issued by Title Company for the Property ("Permitted Exceptions"). Exception numbers and shall be shown "paid current." 3.1 No Monetary Liens. Notwithstanding anything to the contrary set forth in this Agreement, Seller shall convey the Property to Buyer free and clear of all monetary liens and encumbrances other than liens and encumbrances to which Buyer has expressly consented in writing. 3.2 Demolition of Building. Prior to the close of escrow and at Seller's expense, Seller agrees to demolish the building existing on the Property including building slab and foundation and to remove all debris from the Property. Seller shall backfill building void to the level of the surrounding asphalt pavement with aggregate base material and shall properly compact and slope to the satisfaction of the City Engineer. Seller shall reference on the site the location of utility services (sewer, water, and power) and shall coordinate with Buyer the transfer of utility services to Buyer. Seller shall comply with all applicable state, federal and local rules, laws and regulations in connection with the activities described in this Section 3.2. Seller shall commence demolition as soon as practicable following the earlier of Buyer's deposit of the Purchase Price into escrow or Buyer's release of all other contingencies to Buyer's purchase of the Property. 4. Escrow; Escrow Instructions. Within two (2) business days following the Effective Date, the Parties shall open an escrow to consummate the purchase and sale of the Property pursuant to this Agreement at the office of Placer Title Company located at 883-G Island Drive, Alameda, CA 94502; Escrow Officer: Teresa Papiemiak ("Title Company" or "Escrow Agent") or such other title company as may be mutually agreed upon by the Parties. Upon the opening of escrow, the Parties shall deposit with the Escrow Agent an executed copy of this Agreement, which shall serve as the joint escrow instructions of Buyer and Seller for this transaction, together with such additional instructions as may be executed by the Parties and delivered to the Escrow Agent. 5. Intentionally omitted. 6. Title Documents. It shall be a condition to the close of escrow that Title Company shall deliver to Buyer no later than two (2) days prior to the close of escrow, a title commitment for a C.L.T.A. Owner's Title Insurance Policy ("Title Policy") (or at Buyer's election, an ALTA Owner's Title Insurance Policy) to be issued by Title Company in the amount of the Purchase Price for the benefit and protection of Buyer, showing title to the Property vested in Buyer, subject only to the Permitted Exceptions (defined in Section 3 above), including such endorsements as may reasonably be requested by Buyer, and committing Title Company to issue the Title Policy to Buyer upon the close of escrow. 7. Closing Documents and Funds. (a) Seller. 1225087-2 2