10220 LAKEWOOD BLVD. RW & TCE PURCHASE AGREEMENT - ADOPT RESO MAY 24, 2022
PAGE 2
Boulevard which, in turn, will require acquisition of portions of adjacent private properties an14 temporary construction easements.
One of the impacted properties is the Lotus Real Estate located at 10220 Lakewood Boulevard.
The location of this property along with the portion of this property which will be impacted by thA project is shown in Attachment A.
NT&-P9R1d19M
A property appraisal has been completed for the partial property acquisition at 10220 Lakewood Boulevard. Based on the appraisal, a just compensation amount of $6,727 has been determined for said partial acquisition consisting of $4,674 for the permanent right-of-way acquisition for the roadway easement based on fair market value, $1,683 for the temporary construction easement and $370 for site improvements. An offer in the amount of $6,800 was submitted to the property owner along with the purchase agreement. The owner has accepted the offer and has signed the agreement.
The adoption of the attached resolution (Attachment B) will be necessary in order to execute the purchase agreement (Exhibit "A") and to move the acquisition process forward. Staff recommends adoption of the resolution and approval of the agreement. Following execution of the agreement, partial acquisition will go through escrow with the City taking possession of the portion of the property approximately 30 days thereafter.
Construction of the Florence Avenue at Lakewood Boulevard Intersection Improvement Project is expected to commence in March 2023 and be completed by September 2023. A Mitigated Negative Declaration (MND) was completed for this project in October 2020 and adopted by the C City Council on November 10, 2020. Perthe adopted MND, the acquisition of the aforementioned partial property acquisition will have a less than significant impact with mitigation measures incorporated.
FISCAL IMPACT
The $6,800 cost of partial acquisition is budgeted in the Fiscal Year 2021-22 Capital Improvement Program in account no. 26-1-6746. The funding source is 1-605 Congestion H Spots Measure R grant. I
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WHEREAS, the City Council has determined that approval of the Agreement and the sale transaction contemplated thereby, are in the best interest of the City and the public health, safety and
RESOLVENOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF DOWNEY DOES HEREBY • •
_ .,: a ` • � ': • � • • :: ` ` .. i " is i •:
BLANCA PACHECO, Mayor
MARIA . DUARTE, CIVIC
City Clerk
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I HEREBY CERTIFY that the foregoing Resolution was adopted by the City Council of the City of Downey at a regular meeting held on the 24th day of May, 2022, by the following vote, to wit:
MARIA ALICIA DUARTE, CIVIC
City Clerk
RESOLUTION NO. 22--
PAGE 3
W91ra-11M."
CALIFORNIA
1. Seller owns real property at 10220Lakewood Boulevard, Downey,• referredfurther legally described in ATTACHMENT "A" is incorporated herein by this reference and hereafter to ..,"Property".
2. The City desires to acquire a permanent road easement and temporary construction easement fromfor i• i Blvd. i FlorenceIntersection Improvement Project.
3. Tlhe Seller desires to sell a portion of the Property to the City for the permanent road easement. The permanent road easement is described and shown in EXHIBITS "A" and of the attached Road Deed and incorporated hereinof Agreement ATTACHMENT eighteen4. The City also desires to acquire a temporary construction easement from Seller.
The •: of 'f • construction a
written notice is provided is Seller by ` City or its contractor(s)."' notice will • `:
provided 't • later thantwelve months"i close of escrow ii. this Agreement. .. temporary construction easement is described and shown in EXHIBITS "A" and "B" of the attached Temporary Construction Easement Deed ("Construction Easement") and incorporated of • ATTACHMENT
NOW, THEREFORE, in view of the above -recitals and mutual promises and covenants contained herein, the parties agree as follows:
this amount, Seller releases City of any and all claims by Seller under the United States Constitution Amendments 5 and 14, and for any and all claims understate law, including bu) not limited to claims for the value of the real estate and improvements thereon, severance damages, relocation benefits and loss of goodwill. Notwithstanding anything to the contrary contained in this Section 1, the City shall remain liable foranyinjuryto persons ordamage to property relating to or arising from the acts of omissions of the City or its agents, employees, contractors and representatives on the Property.
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This sale shall be consummated through approval by City's designee(s) and/or City Council. In the event that Escrow is deemed necessary for the purpose of title and/or easement transfer, the City agrees to open escrow with a Title Company (to be determined by the City). This Agreement, along with the Road Deed, Construction Easement and 0-6
Except as would otherwise be is in a preliminary title report, to the current, actual knowledge of Seller, Seller warrants to City that as of the date of this Agreement and/oras of the date of close of escrow, Seller has not granted any unrecorded easements or licenses on the Property and Seller does not have actual knowledge of grants of any unrecorded easements or licenseson the Property by others.
To the current, actual knowledge of Seller, Sellerwarrants thatthere is not now, and/or as of is of escrow, there will not be, any violation of any law, ordinance, rule, or administrative or judicial order affecting the Property, nor is there any judicial order affecting the Property, nor is there any condemnation, zoning change, or other proceeding or action (including legislative action) pending, threatened, or contemplated by any governmental body, except City, authority, or agency thatwill in any way affectthe size or use of, improvements or construction on, or access to the Property by City. This warranty does not apply to governmental action where notice has not been provided to Seller.
To the current, actual knowledge of Seller, Seller warrants that as of the date of this Agreement and/or as of close of escrow, Seller has not entered into any contracts, leases,
licenses, commitments, or undertakings respecting the Property, or for the performance of services on the Property, or for the use of the Property or any part of it or any agreement or contract of any kind pertaining to the Property by which City would become obligated or liable to anyone.
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MIS ^YI-OUITIUM d1IU/U1 dtj UI Uft
violation of any statute, ordinance, regulation or administrative or judicial order or holding, whether or not appearing in public records, with respect to the Property or any improvements *n the Property.
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7.1 Seller warrants and represents that, during the time in which Seller has owned the Property, neither Seller nor, to the current, actual knowledge of Seller, any third party, has used, generated, manufactured, produced, stored or disposed of, on, under, or about the Property or transported to or from the Property any hazardous materials, including without limitation, flammable materials, explosives, asbestos, radioactive materials, hazardous wastes, toxic substances, or related injurious materials, whether injurious by themselves or in combination with other materials in violation of applicable federal, state or local laws. To the current, actual knowledge of Seller there is no proceeding or inquiry by any governmental authority, including without limitation, the California or Federal Environmental Protection Agency or the California State Department of Toxic Control, or state or regional water quality board, with respect to the presence of such hazardous materials on the Property or their migration from or to other property. For purposes of this Agreement, the term "hazardous materials" shall include but not be limited to substances defined as "hazardous substance," "hazardous materials," or "toxic substances" in the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended (Title 42 United States Code Sections 9601-9675); the Hazardous Materials Transportation Act, as amended (Title 49 United States Code Sections 1801-1819): the Resource Conservation and Recovery Act of 1976, as amended (Title 42 United Siates Code Section 6901-6992k); and any substance defined as "hazardous waste" in Health and Safety Code Section 25117 oras "hazardous substance" in Health and Safety Code Section 25316, and in the regulations adopted and publications promulgated underthese laws.
7.2 Seller hereby agrees to indemnify, protect, hold harmless, and defend City, its council members, officers, employees, agents, from and against any and all loss, expense, damage and liability, including without limitation (1) all foreseeable and unforeseeable consequential damages, directly or indirectly arising from the use, generation, storage, or disposal of hazardous material on the Property by Seller and Seller does not have actual knowledge of consequential damages, directly or indirectly arising from the use, generation, storage, or disposal of hazardous material on the Property by others (2) the cost of any required or necessary repair, cleanup, or detoxification and the preparation of any closure or other required plans, regardless of whethersuch action is required before orafterthe close of
escrow, but only to the extent that such liability is attributable, directly or indirectly, to the presence or use, generation, storage, release, threatened release, or disposal of hazardous materials by Seller that occurred while Seller owned the Property. Seller's indemnity shall ;,urvive close of escrow.
7.3 From and after record of Road Deed, City agrees to indemnify, protect, hold harmless and defend Seller against any and all loss, expense, damage and liability, including without limitation (1) all foreseeable and unforeseeable consequential damages, directly or indirectly arising from the use, generation, storage, or disposal of hazardous material on the Property by City; and (2) the cost of any required or necessary repair, cleanup, or that such liability is attributable to the presence or use, generation, storage, release, threatened release, or disposal of hazardous materials on the Property by City. City's indemnity shall survive close of escrow.
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8.1 Title Company shall be able to issue in favor of City an ALTA standard owners policy of title insurance dated as of close of escrow with liability not less than the purchase price, covering the Property, showing title vested in City, and showing as exceptions only current general and special real property taxes, bonds and assessments not yet delinquent, and the exceptions to title that City has approved.
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11F aysaTteruiiysreceipiOTSICr][terfis,L)IInOU&V---FUVd"Y-C�'t-dte-TtllLlVdW-;r-ci-&Ue.&-- the parties in writing for the Close of Escrow, of City's disapproval of any title exception set forth therein.
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any title matter referred to in this paragraph, then, at City's option, this Agreement and the -a-eun,tw birA �&-L7crrrt,6,I ffrf
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returned to City immediately on demand, and City shall pay all title company and escrow charges.
8.3 City shall pay for a Property Condition Inspection by a competent inspector selected by the City. City's obligation to close escrow is contingent upon City's approval of the condition of the Property at its sole discretion.
8.4 If there is a breach of any representation or warranty given by Seller pursuant to this Agreement that is discovered by City before close of escrow, then City may nevertheless elect to proceed to close the escrow, in which event City shall be deemed to have elected to waive such breach, or City may elect to terminate this Agreement and the escrow, in which event this Agreement shall be canceled. If this Agreement and the escrow are terminated by City's election under this paragraph, then all funds or other things deposited by City, if any, shall be returned to City immediately on demand, and Seller shall pay all tifle company and escrow charges.
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in the Property.
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Seller and City acknowledge that the purchase and sale of the Property has been negodated under the threat of condemnation of the Property by the City. In the event of Seller default, City's ability to perform is prejudiced. Accordingly, in the event the escrow fails to close by reason of a defau It by Seller, Seller agrees:
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B. That the Sellerwalves any rightto bring an action or claim againstCity in inverse condemnation or to seek damages for alleged precondemnation conduct arising out of the acquisition by City contemplated underthis Agreement.
C. Seller acknowledges that in waiving these claims they have not relied on any representations or statements made or said by City, its agents, attorneys or other representatives.
Except as set forth below in this Section, each party bears its own costs and fees, including any attorneys' fees, associated with the acquisition by the City contemplated under this Agreement. If any party files an action or brings any proceeding againstthe otherarising from this Agreement, or is made a party to any action or proceeding brought by the Escrow Holder, then as between City and Seller and City, the prevailing party shall be entitled to recover as an element of its costs of suit, and not as damages, reasonable attorneys' fees to be fixed by the court. The "prevailing party" shall be the party who is entitled to recover its
costs of suit, whether or not suit, proceeds to final judgment. A party not entitled to recover its costs shall not recover attorneys' fees. No sum for attorneys' fees shall be included in calcu lating the amou nt of a judgment for purposes of deciding whether a party is entitled to its costs or attorn eys' fees.
All warranties, covenants, and other obligations stated in this Agreement shall surviv,; close of escrow. All warranties, covenants, and other obligations thatthe City discovers to be -treached before tenderof the deed, and that City either expressly waives ordoes notobjectLi., -vefore su ch ten der, sh al I n ot su rvive ten der of th e deed.
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Except as otherwise provided herein, this Agreement inures to the benefit of, and is binding on, the parties, their respective heirs, personal representatives, successors, and assigns.
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writing and signed by all of the parties before it will be effective.
No representation, warranty, or recommendation is made by Seller or City or their respective agents, employees, or attorneys regarding the legal sufficiency, legal effect, or tax consequences of this Agreement or the transaction, and each signatory is advised to submit thisAgreementto his or her respective attorney before signing This Agreement may be executed in counterparts, each of which so executed shall, irrespective of the date of its execution and delivery, be deemed an original, and all such counterparts together shall constitute one and the same instrument.
Time is of the essence of this Agreement, and failure to comply with the time provisions of this Agreement shall be a material breach of this Agreement.
The City shall defend, indemnify and hold Seller and the tenant of the Property harmless from and against any and all claims, demands, causes of action, judgments, liabilities, damages, costs and expenses (including reasonable attorney's fees and consultant and expert fees) relating to or arising from the City's activities on the Property.
Except as set forth in Section 7, in its entirety, Section 8.4 and Section 11, in no event shall Seller have any liability to the City for damages. 0� � 11=
The City's contractor(s) shall not occupy any portion of the Seller's property, within the Construction Easement area described and shown on EXHIBITS "A" and "B" of the attached Temporary Construction Easement Deed, for a period in excess of eighteen (18) months following the date of written notice thereon to perform work. As a condition of exercising the Construction Easement, the City or its contractors shall provide at least 30 days prior written notice to Seller before performing work on or about the Property. The eighteen (18) month .4 4fialiju,
i:;:
IN WITNESS WHEREOF, the parties hereto have executed this Agreement the day and year set forth herinabove.
RAUL LOPEZ AND ARLENE G. LOPEZ, TRUSTEES OF THE LOPEZ FAMILY LIVING TRUST DATED SEPTEMBER 8,1997
By:
Name:
51F.Mrsimil! E il= sAp. a
Date:
(Print)
Date:
0111:2040 ARI.Aly-AfelitalWyl
Maria Alicia Duarte, CMC, City Clerk Bruce Gridley, Legal Couns
ATTACHMENT
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ILI 19, NO] L,591111143044
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CITY OF DOWNEY
killik kkIA
CITY CLE?r�
CITY OF DOWNEY - CITY HALL
P.O. BOX 7016
DOWNEY, CA 90241-7016
trans fer tax pursuan t to Rev. & Tax Code
Section 11922"
Mr,
ATTAL�A�F�
Page I of 5
Space above Wisane is lorEkwrderi Ise
ROADDEED
RAUL LOPEZ AND ARLENE G. LOPEZ, TRUSTEES OF THE LOPEZ FAMILY LIVING TRUST DATED SEPTEMBER 8,199 7 (-GRANTOR')
does hereby grant to the CITY OF DOWNEY, A MUNICIPAL CORPORATION AND CHARTER CITY C'GRANTEE an easement for public road and highway purposes in the real property in the City of Downey, County of Los Angeles, State of California, described as:
SEE A TTA C11MENT
EXHIBIT "A"- LEGAL DESCRIPTION
AND
EXHIBIT "B FOR VISUAL REFERENCE ONLY
It is understood that each undersigned grantor grants that portion of the above described land in which said grantorhasan interest.
Dated: 3 GRANTOR:
. .... - -----
RAUL LOPEZ AND ARLENE G. LOPEZ, TRUSTEES OF THE
LOPEZ FAMILY LIVING TRUST DATED SEPTEMBER 8,
N-MAG611WAT'li"
ll 114111141 IRA
Real property situate in the City ot'Downcy, County of'Los Angeles, State o -C`aYi15n-ii9—, described as follows:
Being a portion of the lands of die Lopez Family Living Trust as described in that certain Trust Transfer Deed recorded October X, 1997 as Instrument No. 97-156252 1, more particularly described as fbllows� COMMENCING at the centerline intersection of Lakewood Blvd. and Florence Ave.; Thence along die centerfinc of said Lakewood Blvd, South 23043'48" West, 253.06 feet, Thence perpendicular to the last described course South 66*16'12" East, 60,00 feet to a point on the southeasterly line of said Lakewood Blvd. being also the northwesterly comer of the said lands of the Lopez Family Trust (Inst. No. 97-1562521), said point being also the TRUE POINT OF BEGINNING; Thence along the northerly line of said lands South 58"02'48" East, 303 feet; Thence along a line parallel and 3.00 southeasterly of the southeasterly I ine of Lakewood Blvd, South 23143'48" West, 28.05 feet;
Thence perpendicular to the last described course North 66116'12" it feet to the southeasterly line of Lakewood Blvd.;
Thence along said southeasterly line North 23*43149 East, 2H.49 feet to die POINT OF BEGI[NNING, Containing an area of $5 squaw feet, more or less.
As shown on plat attached hereto and by this reference made part hereof as Exhibit B.
DAVIS THRESIK
611613
ATTACHMENT "B"
EXHIBIT "B"
For Visual Reference only. Not for Descriptive Purposes Portion of APN: 6285-002-021
BASIS OF BEARINGS
FLORENCIE AVEW NORTH 23-43-48- EAST, BEING THE CENTERLINE OF LAKEWOOD BOULEVARD SO 23*43'35"E- ON
THAT CERTAIN PARCEL MAP NO. 10943 AS SERIES
NO, 79-823161 FILED ON JULY 26, 1979 IN BOOK
POC 114 OF PARCEL MAPS AT PAGE 86
LEGEND
POC - POINT OF COMMENCEMENT
TPOB - TRUE POINT OF BEGINNING
— CENTERLINE
= DESCRIBED AREA
— LOT LINE
— RECORD LOT LINE
APN 6285-002-018
TPOS RIGHT OF WAY
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APN 6285-002-022
6D.00
4675 WART14UR COURT
SU"E 400
NEWPORT OMK CA 22069
em BkF 049-5243-S400
949-520-809 (FAK)
I
7� notary
public or other officer completing rs certicate ves only the identiAr of the individual who signed the document to which this certificate is attached. and not the truthfulness. accuracy. or validity of that document.
State of Califoll12'la
Countyof & t—::La �-
I 'CeJ,
(]j)SejLt lj�jjjo Cqf fjjt4,L:fjr ak' of flae, off'Ic
personally appeared U Z-Z—
Natue ofS1gtwr 0)
Name of Signer (2)
who proved to me on the basis of satisfactozy evidence to be the pemon(a),tvhose name(s) is/ subscribed to the within instrument and acknowledged to me that he/she ithey executed the same in his/her/their authorized capacaty(jo), and that by his&erltheir signature(ii) on the instrument the penon(s). or the entity upon behalf of which the person(s) acted, executed the ip .WIUIM
NICOLE GAROES
Public - CA1116fnia
Commission # 2138578
Wrr;N9TEES fmay tad and o i all seal. COMM,yI u 4m My COMEXpires Doc 23, 2024 (Seai)
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ATTACOfl11H,%T-"E3-"
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(Government Code Section 2728 1)
This is to certify that the permanent easement more particularly described in LExhibil and Exhibit "B" to the attached Road Easement Deed of Right of Way Dedication to the undersigned City of Downey ("CITY"), the provisions of which instrument are incorporated by this reference as though fully set forth in this certificate, is hereby accepted by the undersigned officer/agent on behalf of the CITY's Council Members, and the Grantee consents to recordation thereof by its duly authorized officer.
APN: 6285-002-021
By:
Maria Alicia Duarte, CMC
City Clerk
Page I of 5
When Recorded Mail to:
"This document is recorded forth a benefit of
the City of Downey and is therefore exempt
from recording fees pursuant to Gov't Go de
Section 27383 and exempt from documentary
transfer tax pursuant to Rev. & Tax Code
Section 11922"
APW 285-002-021 Space above thlsl ne is forRecordet's Use Agreement No.: 4776
TEMPORARY CONSTRUCTIONDEEX
• `VALUABLE CONSIDERATION,receipt of which is hereby acknowledged, LOPEZNAUL •, ARLeAE G. LOP• •J,• i
hereinafter1997, . +. Grantor,
does hereby grant to the CFTY OF DOWNEY, A MUNICIPAL CORPORATION AND CHARTER CITY ("Grantee"), . I tn
SEEATTACHMENT
EXHIBIT "A'�- LEGAL DESCRIPTION
i
•
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Dated: GRANTOR:
LOPEZDATED
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j'L,NLMIU% RVUON!�J'fll 1j'11JIN EAhLML:,�—"L
Portion of APN 6285-002-021
Real property situate in the City of Downey, County of Los Angeles. State ofCalil'ornia. described as rollows:
Being a portion of the lands of the Lopez Family Lhing Trust as described in thatcertain Trust Transfer Dacd rccordcd October 8. 1997 as Instrument No. 97-156252 1, More particularly described as follows:
COMMENCING at the centerlinc intersection orLakewood Blvd. and Florence Thence along the ccritcrline of said Lakcwood Blvd. South 2343'48" West, 253.06 feet; Thence perpendicular to the last described course South 601WIT' East, 60.00 fm! to a point on the southeasterly line of said Lakewood Blvd. being Aso theii6fthwesterly corner of said lands of a Family Trust (Inst, No. 97-156252 1);
Thence along the northerly line of said lands South 58'02'48" East. 3,03 feet to a point, said point being abso the TRUE POINT OF BEGINNING;
I ticticc continuing along samb nor, I cr y Me � 1, 4-
Thence leaving said line the following nine (9) courses:
I ) South 31'229'52" West, 514 feet.
2) South 581130108" East, 2.00 feet;
3) South 3 1 '29'52 " West, 8.54 feet.
4) North 583008" West, 2.00 feet
5� South 3112912" West. 5.25 feet,
6) South 58'30V8" East. 2.00 feet;
7) South 3 1 *29'52" West, 17.78 feet.
8) South 12035'20" East, 7.00 feet,
9) South 23005'35" West, 8.32 feet to the southerly Line of said lands; ME
Thence along said southerly linbrilt to Ux souliwestcrly conrier GI said =an N of the Lopez Family Trust (Inst. No. 97-1562521 l, being also a point an the southeasterly line of Lakewood Blvd.;
Thence along said southeastcrly line North 23'43'48" East, 22.03 rcet, Thence leaving said southeasterly line parpendictdor to the last described course South 66'16'12" East,
3.00 feet:
-kilo
23'43'48" East, 28.05 feet to the POINT OF BEGINNING.
Containing an area of255 square feet. more or less,
AS Nhown on ptat attached hereto and by this reference made part bereof as Exhibit H.
DAVIS THRESH
No, 6668
A-T-r-A-UA1111-AV I `�
For Visual Reference Only. Not for Descrve Purposes
BASIS OF BEARINGS
momeNce
LAKEWOOD BOULEVARD SHOWN AS N.23*4.3'3VE, ON
THAT CERTAIN PARCEL MAP NO. 10943 AS SERIES
NO. 79-823161 FILED ON JULY 26. 1979 IN BOOK
po��
114 OF PARCEL MAPS AT PAGE 86
LEGEND
POC - POINT OF COMMENCEMENT
Uw
TEMPORARY CONSTRUCTION EASEMENT
TPOB - TRUE POINT OF BEGINNING
Pow"m LDWIN
CEN7ERLJNE
LI SUVr4WE 3.03'
DESCRIBED AREA
L2 S58VS07'E 4.45'
I
19 )
LOT LINE
RECORD LOT LINE
S3129'52'W 5.24'
t
Im
APN 6285-002-018
A P N 6 2115-01
TPOS L2
2 L3
L1,
4 L4
000
Z
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APN 6285-002-022
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F-JTACAffER7-wC`
- - - - -- ---------- --- - ----
ACKNOWLEDGMWNT
A notary public or other officer completmig this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy. or validity of that document.
State of Colifor7m /11
County c fi, llw�e S
t- "I -�>� ---------- -
On 7 -2- before M& eAZZ.0 - Not Public
(Irp5clt mink 1-4, 01e o(fif"I" i title of The officer) personally
Name of SigneT (1)
Name of Signer (2)
who proved to me on the is of isatisfactiary evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that. helshelthey executed the same in his/her/their authorized cap acity(jZ). and that by his&er/their siguature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted. executed the kgaqM&
I certify under PENALTY OF PERJURY under the laws of the to of California that the foregoing paragraph is true and correct.
(se"111
MIM
ATTACA[:11EiVrwU`
V5.0tyeil?
(Government Code Section 2728 1)
This is to certify that the temporary easement more particularly described in EXHIBIT "A" and EXHIBIT "B" to the attached TEMPORARY CONSTRUCTION EASEMENT DEED to the undersigned City of Downey ("CITYthe provisions of which instrument are incorporated by this reference as though fully set forth in this certificate, is hereby accepted by the undersigned officer/agent on behalf of the CITY's Council Members, and the Grantee consents to recordation thereof by its duly authorized officer.
APN: 6285-002-021
Lo
Dated:
City Clerk
O; 1111illill
r41K_"_1_Pq 1
in IS AgreernenL conSLIL110b LF It! juirliesu"ITY JIM; Mn_nnM111 =14 to whom these escrow instructions are delivered is hereby empowered to act under this Agreement. The parties hereto agree to do all acts necessary to close this escrow in the shortest possible time.
As soon as possible after open of escrow, Seller will execute the respective Easement Deeds attached to this Agreement as the "Road Deed" and deposit the executed deed with Escrow Agent on City's behalf. City agrees to deposit the purchase price upon demand of Escrow Agent. City agree's to deposit with Escrow Agent any additional instruments as may be necessary to complete this transaction.
Insurance policies for fire or casualty are not to be transferred, and Seller will cancel Seller's own policies after close of escrow.
All funds received in this escrow shall be deposited with other escrow funds in a general 6-SGT4W7d--CC1TWrtt(*C_fi_Pi May l-&tMraf &% 1-411,-W�y Wtaf or National Bank doing business in the State of California. All disbursements shall be made by check and/or wire transfer from such account.
2. Escrow Agent is Authorized and Is Instructed to Comply with the Following TaxAdjustment Procedure:
A. Pay and charge Seller for any unpaid delinquent taxes and/or penalties and interest thereon, and for any delinquent or non -delinquent assessments or bonds againstthe Property.
In the event this escrow closes six months subsequent to execution of thm agreement, and the current tax information is not available from title insu EscrowAgentis instructedto withhold from Sell er's proceeds an amountequal r
100% of the prorated amount due based upon the previous fiscal year's seco ' I and refund difference
halftaxbill. At such time that the tax information is available, Escrow Agent sh make a check payable to the County Tax Collector for Seller's prorated portion taxes and forward same to the City shall any to the Sell In the event the amountwithheld is not sufficientto pay Seller's prorated porti of taxes due, the Seller herein agrees to immediately pay the difference.
In the event said tax information is available, Seller's taxes shall be prorated in accordance with paragraph "C" below.
C. From the date that tax information is available, as per paragraph "B," up to and including June 30th, Seller's current taxes, if unpaid, shall be prorated to date of close of escrow on the basis of a 365 day year in accordance with Tax Collector's proration requirements, together with penalties and interest, if said cu rrent taxes are u n paid after December 10 an d/or April 10. At close of escrow, check payable to the County Tax Collector for Seller's pro-rata portion of taxes shall be forwarded to City with closing statement.
D. Any taxes which have been paid by Seller, prior to opening of this escrow, shall not be prorated between City and Seller, but Sellershall have the sole right, after close of escrow, to apply to the County Tax Collector of said county for refund.
This refund would apply to the period after City's acquisition, pursuant to Revenue and Taxation Code Section 5096.7.
A. Pay and charge City for 100% of escrow fees and closing costs and any amount necessaryto place title in the condition necessaryto satisfythis Agreement.
B. Pay and • City for 100% • escrow fees and closing • payable und this Agreement. I
C. Disburse funds and deliver deeds when conditions of this escrow have been fulfilled • City and Seller.
The Term "close • • if and where written in these instructions, shall mean the Recordation of instruments delivered th rough this escrow is authorized if necessary or proper in the issuance • said policy • title insurance.
All time limits within which any matter herein specified is to be performed may be extended by mutual agreement of the parties hereto. Any amendment of, or supplement to, any • mustbe in writing.
4. Time is of • Escrow is to Close ,
•.� '. •
EscrowIf (except for deposit of money by City, which shall be made by City upon demand of Agent before closeof iw) this escrow is not• •I • • close within forty-five (45) days from date of these instructions, any party who then shall have fully complied with these instructions may, in writing, demand the return of their money or property; but if none have complied, no demand for return thereof shall be recognized until five (5) days after Escrow Agent shall have mailed copies of such demand to all other parties at the respective addresses shown in these escrow instructions, and if anyobjections are raised within said five (5) day period, Escrow Agentis authorized to hold all papers and documents until instructed by 2 court of competent jurisdiction or mutual instructions. If no demands are made, proceed with closing of • ••f as possible.
Seller hereby grants to City, or its authorized agents, permission to enter upon the Property at all reas• :.. • prior to close of • for the purpose of • necessary tr appropriate inspections.
Loss or damage to the real property or any improvements thereon, by fire or other occurring prior to the recordation of the D:``• shall be at the risk of ..l event that loss or damage to the real property or any improvements thereon, by fire or other casualty, occurs prior to the recordation of the Deed, City may elect to require that the Seller •..y ti City the proceeds of policy RS insurance which may become payable to Seller by reason thereof, or to permit such proceeds to be used for the restoration of the damage done, or to reduce the total price by an amount equal to the diminution in value of said Property by reason of such loss or damage or the amount of insurance payable to Seller, whichever is greater. Seller shall not be liable for any loss ordamage to Property caused by City upon the effective date of Road Deed.