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Inst 2013 Property Exchange - Chamber of Commerce
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Inst 2013 Property Exchange - Chamber of Commerce
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4/9/2013 8:49:37 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
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(i) A duly executed and acknowledged Certificate of Acceptance as <br /> required by Government Code Section 27281, substantially in the form attached to <br /> Exhibit C; <br /> (ii) The Office Parcel Grant Deed, duly executed and acknowledged; <br /> (iii) If not previously delivered, a duly executed and acknowledged copy <br /> of the REA; <br /> (iv)A duly executed and acknowledged copy of the Declaration; and <br /> (v) Such additional duly executed instruments and documents as the <br /> Escrow Agent may reasonably require to consummate the transactions <br /> contemplated hereby. <br /> B. No less than one(1)business day prior to the close of escrow, City shall <br /> deposit into escrow immediately available funds in the amount equal to escrow fees, <br /> conveyance fees,transfer taxes and recording fees,the cost of any title policy that City <br /> elects to purchase, and the outstanding balance of any sum payable to Chamber <br /> pursuant to Section 13 below. <br /> 10. Close of Escrow. Unless this Agreement is terminated pursuant to the terms hereof <br /> or extended by mutual written consent of the Parties,escrow shall close no later than the date <br /> ("Closing Date")which is ( )days after the Effective Date. The Escrow Agent <br /> shall close escrow by: (A)recording each of the following in the Official Records of Alameda <br /> County: (i)the REA(if not previously recorded), (ii)the Chamber Property Grant Deed, (iii)the <br /> Office Parcel Grant Deed, and(iv)the Declaration; (B) issuing the Title Policy and delivering <br /> same to City; (C) issuing to Chamber any title policy Chamber has elected to acquire; (D) <br /> delivering to City ty conformed copies of each of the following indicating recording information <br /> thereon: (a)the REA, (b) Chamber Property Grant Deed, and(c)the Declaration; (E) delivering <br /> to Chamber conformed copies of each of the following indicating recording information thereon: <br /> (a)the REA, (b) Office Parcel Grant Deed, and(c)the Declaration. Possession of the Chamber <br /> Property shall be delivered to City at the close of escrow. Possession of the Office Parcel shall <br /> be delivered to Chamber at the close of escrow,provided however,the Chamber shall be <br /> to the close of escrow <br /> permitted to occupy the Office Parcel prior t p ursuant to Section 26 below. <br /> 11. Closing Costs. City shall pay the cost of City's title policy, and all closing costs and <br /> escrow fees, recording fees, conveyance fees and transfer taxes (if any)applicable to the <br /> conveyance of the Chamber Property to City and the conveyance of the Office Parcel to <br /> Chamber. Chamber shall pay the cost of any title policy Chamber elects to acquire. <br /> 12. Prorations. At the close of escrow,the Escrow Agent shall make the following <br /> prorations: (i)property taxes shall be prorated as of the close of escrow based upon the most <br /> recent tax bill available, including any property taxes which may be assessed after the close of <br /> escrow but which pertain to the period prior to the transfer of title to the Property to City, <br /> regardless of when or to whom notice thereof is delivered; and(ii) any bond or assessment that <br /> 4 <br />
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