RDA Agmt 2009 Norcal AL LLC - Laserfiche WebLink

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balance of the Purchase Price into escrow by not later than five (5) business days following the later of: (i) the date that all conditions described in Section 3.2.1 Lb) and (c) have been satisfied, or (ii) the date that Buyer receives its next installment of property tax increment revenue from Alameda County. 3. Conveyance of Title; Demolition of Existing Building. At the close of escrow, Seller shall convey by grant deed to Buyer marketable fee simple title to the Property, subject only to: (i) the standard printed exceptions and exclusions contained in a standard C,L.T.A. owner's policy of title insurance; (ii) non-delinquent general and special real property taxes, bonds, and assessments; (iii) Exception numbers 4 and 5 as shown on that certain title report (the "Title Report") (Order No. 811-1110) dated March 24, 2009, issued by Placer Title Company for the Property ("Permitted Exceptions"); and (iv) if Buyer elects to obtain an ALTA title insurance policy, any exceptions disclosed by the survey obtained by Buyer for the Property at its sole cost and expense ("Survey") or, if Buyer elects to obtain an ALTA title insurance policy without a Survey or fails to timely provide the Survey to the title company, then the standard survey exception in the ALTA title insurance policy. 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. After removal of the structure and the foundation, the Seller shall scarify and recompact the top twelve inches of the underlying subgrade to 95% relative compaction, shall backfill any remaining building foundation voids with Class 2 Aggregate Base conforming to Section 26-1.02A of the Caltrans May 2006 Standard Specifications to within three inches below the level of the surrounding asphalt pavement, and shall slope the backfilled area to the center of the building area at a nominal two percent (2%) slope. 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 Contingency Satisfaction Date (defined in Section 3.2.1) and shall complete the Demolition Work within sixty (60) days following the Contingency Satisfaction Date. If Seller does not timely complete the work described in this Section 3.2 (the "Demolition Work"), the Parties shall agree to extend the date for Close of Escrow by up to thirty (30) days to allow Seller to complete the Demolition Work. 1225087-5 2