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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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constitutes a lien on the Property at the close of escrow shall be assumed by City. Rents payable <br /> under any land leases and any utility and sewer service charges shall be prorated as of the close <br /> of escrow. <br /> 13. Relocation. At close of escrow, City will pay to Chamber the sum of Ten <br /> Thousand Dollars ($10,000)to cover Chamber's costs incurred in moving to the Office Parcel. <br /> Chamber hereby agrees that the foregoing payment shall satisfy all obligations(if any)that City <br /> may have pursuant to the California Uniform Relocation Act, Government Code Section 7260,et <br /> seq. (the"Relocation Act") and hereby knowingly and willingly waives all rights Chamber may <br /> have to claim any additional benefits pursuant to the Relocation Act. Chamber further <br /> acknowledges and agrees that it has carefully read the contents of the waiver and release set forth <br /> in this Section and that, in executing this Agreement, it does so with full knowledge of any right <br /> which it may have,that it has received independent legal advice from its attorneys, or in the <br /> alternative,knowingly has determined not to seek legal advice with respect to the matter set forth <br /> herein. Chamber hereby voluntarily and knowingly waives, releases and discharges forever City <br /> from any claims for any such benefits. <br /> 14. Release. Chamber is aware of and familiar with the provisions of Section 1542 of <br /> the California Civil Code which provides: <br /> A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE <br /> CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE <br /> TIME OF EXECUTING THE RELEASE,WHICH IF KNOWN BY HIM MUST HAVE <br /> MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR. <br /> As such relates to Section 13 of this Agreement, Chamber hereby waives and relinquishes all <br /> rights and benefits which it may have under Section 1542 of the California Civil Code. This <br /> Section 14 shall survive the close of escrow and the expiration or earlier termination of this <br /> Agreement. A A <br /> Chamb- i s . <br /> 15. City's Conditions to Closing T e close of escrow and City's obligation to purchase <br /> the Chamber Property are conditioned u.. : (i)the performance by Chamber of each obligation <br /> to be performed by Chamber under this Agreement within the applicable time period,or the <br /> waiver by City of such obligation; (ii) Chamber's representations and warranties contained in this <br /> Agreement being true and correct as of the date hereof and the close of escrow; (iii)the <br /> commitment by Title Company to issue and deliver the Title Policy, subject only to the Permitted <br /> Exceptions; and(iv) City's approval of the condition of the Chamber Property pursuant to <br /> Section 16. <br /> Should any condition to closing fail to occur,excepting any such conditions that have <br /> been waived by City, City shall have the right, exercisable by giving written notice to Chamber, <br /> to cancel the escrow,terminate this Agreement,and recover any and all amounts paid by City to <br /> 5 <br />
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