Laserfiche WebLink
�J -. ,�.. A S� <br />5. TIT__ _NSURANCE. When the tit-- .:ompany is in a <br />position to record the Grant Deed and Quitclaim Deed referred to in <br />paragraph 4, and to issue a title insurance policy or policies, then a <br />joint protection ALTA Owner's Policy in the usual and customary form <br />showing title to Parcel A vested in the City may be issued. <br />Similarly, a joint protection ALTA Owner's policy in the usual and <br />customary form showing title to Parcel B vested in the Owners may also <br />be issued. <br />6. PRORATIONS. Real property taxes shall be prorated as of <br />the date of the close of escrow with respect to Parcel A. <br />7. ESCROW INSTRUCTIONS. The parties hereto agree that this <br />agreement shall constitute the escrow instructions of the buyer and <br />seller. <br />8. ESCROW FEE AND ANCILLARY COSTS. Title insurance fees, <br />recording fees and other similar ancillary costs associated with the <br />conveyance of Parcels A and B including the proration of taxes and the <br />removal of encumbrances, if any there be, shall be borne solely by the <br />Owners. <br />9. CLOSING OF ESCROW. Closing of escrow contemplated <br />hereby shall be effectuated within thirty (30) days of the date the <br />escrow is opened unless the date of closing is extended by mutual <br />consent of the parties. The escrow agent shall record the Grant Deed <br />and Quitclaim Deed and deliver to City (specifically to the City Clerk <br />at 835 East 14th Street, San Leandro, California 94577) and Owners <br />conformed copies thereof, as well as the title reports and policies <br />provided herein. <br />10. SPECIAL CONDITIONS FOR EXCHANGE. Additional <br />consideration for the exchange of Parcels A and B shall be that <br />Owners, at their own cost, shall construct a six (6) feet high solid <br />wood fence of a type and quality satisfactory to the City Engineer, <br />-3- <br />