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Packet 07182022
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Last modified
9/29/2025 2:28:36 PM
Creation date
7/14/2022 11:17:01 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agenda
Document Date (6)
7/18/2022
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Reso 2022-132 Town Hall Square PSA 5th Amnd - CC
(Amended)
Path:
\City Clerk\City Council\Resolutions\2022
Reso 2022-133 Town Hall Square PSA 5th Amnd - SA
(Amended)
Path:
\City Clerk\City Council\Resolutions\2022
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BMDV-54329\2647924.2 Put Option Agreement - 16 - <br />(a) If, as the result of the costs, prorations and credits pursuant <br />to this Section 8.8, amounts are to be charged to the account of Beam, deduct the total amount of <br />such charges. If, as a result of the costs, prorations and credits pursuant to Section 8.7, amounts <br />are to be charged to the account of City/Agency , collect the total amount of such charges <br />(“City/Agency’s Charges”) from City/Agency . <br />(b) Disburse to Beam the full Purchase Price together with any <br />interest accrued therein while in Escrow, plus any City/Agency’s Charges payable owed to Beam <br />or payable under Section 8.7, above, less deductions charged to Beam, if any, under Section 8.7, <br />above. <br />(c) After all disbursements to Beam are completed, disburse <br />the remaining balance of the funds in Escrow, if any, as City/Agency directs. <br />8.8.2 Recording and Filing. Cause the Deed to be filed for recording in <br />the Official Records of Alameda County. <br />8.8.3 Title Policy. Issue the Title Policy to City/Agency . <br />8.8.4 Disbursement of Documents to City/Agency. Disburse to <br />City/Agency (a) the Tax Certificates; (b) a conformed copy showing the applicable recording <br />information for the Deed; and (c) any other documents (or copies thereof) deposited into Escrow <br />to which City/Agency is entitled pursuant to the terms of this Put Option Agreement. <br />8.8.5 Disbursement of Documents to Beam. Disburse to Beam (a) one <br />(1) a conformed copy showing the applicable recording information for the Deed; (b) a copy of <br />the Tax Certificates; and (c) any other documents (or copies thereof) deposited into Escrow to <br />which Beam is entitled pursuant to the terms of this Put Option Agreement. <br />8.8.6 Closing Statement. Deliver to each of City/Agency and Beam a <br />final closing statement showing the distribution, application, and receipt of all funds processed <br />through the Escrow (the “Closing Statement”). <br />8.9 Broker. Beam hereby represents and warrants to City/Agency that Beam <br />has not employed any broker with respect to this transaction. If any person brings a claim for a <br />commission or finder’s fee based upon any contact, dealings, or communication with <br />City/Agency in connection with the transactions contemplated by this Put Option Agreement, <br />then City/Agency shall defend Beam from such claim, and shall indemnify Beam and hold Beam <br />harmless from any and all costs, damages, claims, liabilities, or expenses (including, without <br />limitation, reasonable attorneys’ fees and disbursements) incurred by Beam with respect to the <br />claim. If any person brings a claim for a commission or finder’s fee against City/Agency based <br />upon any contact, dealings, or communication with Beam in connection with the transactions <br />contemplated by this Put Option Agreement, then Beam shall defend City/Agency from such <br />claim, and shall indemnify City/Agency and hold City/Agency harmless from any and all costs, <br />damages, claims, liabilities, or expenses (including, without limitation, reasonable attorneys’ fees <br />and disbursements) incurred by City/Agency with respect to the claim. The provisions of this <br />Section 8.9 shall survive the Closing or, if the purchase and sale is not consummated, any <br />termination of this Put Option Agreement.
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