|
vuuuorf r enverupe rt, r co-1:1v40-or ooarsawove
<br /> specified maturity. Buyer's Federal Tax Identification Number is 94-6000397 .NOTE:Such interest bearing account cannot be opened until Buyer's Federal
<br /> Tax Idennhcanon Number is provided.
<br /> 4.4 Notwithstanding the foregoing,within 5 days after Escrow Holder receives the monies described in paragraph 4.1 above,Escrow Holder shall release$100
<br /> of said monies to Seller as and for independent consideration for Seller's'execution of this Agreement and the granting of the contingency period to Buyer as herein
<br /> provided. Such independent consideration is non-refundable to Buyer but shall be credited to the Purchase Price in the event that the purchase of the Property is
<br /> completed.
<br /> 4.5 Upon waiver of all of Buyer's contingencies the Deposit shall become non-refundable but applicable to the Purchase Price except in the event of a Seller
<br /> breach,or in the event that the Escrow is terminated pursuant to the provisions of Paragraph 9.1(n)(Destruction,Damage or Loss)or 9.1(0)(Material Change).
<br /> ,.,,,..i k.sr". »u«a,,.,,,,r„r.,,^—ta y• r-c—^"'y' ,.,a....
<br /> ,...,,, , . • .. -. .. J...,y.mr tr sr't"ti-0uir9Y4fAfYaar
<br /> •
<br /> rOw.
<br /> .. .. .. Qtly.p.n.,IX...f,.,.,ygr,oy Pp.p„a' sr-”r+a4hwSYsiYc.m+R..t..zt^.>.,pr,ty. ,ye.....,the
<br /> ..• • • • .. • - .
<br /> . •. sit r ca waleEnaCtitte At gyyyrOLJAWAIITS{v(ACC.IC nu TUE u'ieet
<br /> .. .. ... ,n.06,E.we—4OMSYr. 4.13ilarracaatc.oactsbusx.rs,.
<br /> •r---es.h ,.....t.,.f.a•p,,..pxy c...o....uNC^r. ,...:p^,.ti'P•e si.-.pt,. „r.6,.,aexe y,,.u-
<br /> • ,. .. . . . . , Sraw ha,ac.uy a a..y,,.Yty:i j,ti,a,.n,,.ara,
<br /> 7. Real Estate Brokers.
<br /> 7.1 The following real estate broker(s)("Brokers")and brokerage relationships exist in this transaction and are consented to by the Parties(check the
<br /> applicable bones):
<br /> Co"__e's International represents Seger exclusively("Seller's Broker");
<br /> WS i': represents Buyer exclusively("Buyer's Broker");or
<br /> represents both Seller and Buyer("Dual Agency").
<br /> The Parties acknowledge that other than the Brokers listed above,there are no other brokers representing the Parties or due any fees and/or commissions under this
<br /> Agreement. See paragraph 24 regarding the nature of a real estate agency relationship. Buyer shall use the services of Buyer's Broker exclusively in connection with
<br /> any and all negotiations and offers with respect to the Property for a period of 1 year from the date inserted for reference purposes at the top of page 1.
<br /> 7.2 Buyer and Seller each represent and warrant to the other that he/she/it has had no dealings with any person,firm,broker or finder in connection with the
<br /> negotiation of this Agreement and/or the consummation of the purchase and sale contemplated herein,other than the Brokers named in paragraph 1.1,and no
<br /> broker or other person,firm or entity,other Than said Brokers is/are entitled to any commission or finder's fee in connection with this transaction as the result of any
<br /> dealings or acts of such Party. Buyer and Seller do each hereby agree to indemnify,defend,protect and hold the other harmless from and against any costs,expenses
<br /> or liability for compensation,commission or charges which may be claimed by any broker,finder or other similar party,other than said named Brokers by reason of
<br /> any dealings or act of the indemnifying Party.
<br /> 8. Escrow and Closing.
<br /> 8.1 Upon acceptance hereof by Seller,this Agreement,including any counteroffers incorporated herein by the Parties,shall constitute not only the agreement
<br /> of purchase and sale between Buyer and Seller,but also instructions to Escrow Holder for the consummation of the Agreement through the Escrow. Escrow Holder
<br /> shall not prepare any further escrow instructions restahng or amending the Agreement unless specifically so instructed by the Parties or a Broker herein. Subject to
<br /> the reasonable approval of the Parties,Escrow Holder may,however,include its standard general escrow provisions. In the event that there is any conflict between
<br /> the provisions of the Agreement and the provisions of any additional escrow instructions the provisions of the Agreement shall prevail as to the Parties and the Escrow
<br /> Holder.
<br /> 8.2 As soon as practical after the receipt of this Agreement and any relevant counteroffers,Escrow Holder shall ascertain the Date of Agreement as defined in
<br /> paragraphs 1.2 and 20.2 and advise the Parties and Brokers,in writing,of the date ascertained.
<br /> 8.3 Escrow Holder is hereby authorized and instructed to conduct the Escrow in accordance with this Agreement,applicable law and custom and practice of
<br /> the community in which Escrow Holder is located,including any reporting requirements of the Internal Revenue Code.In the event of a conflict between the law of
<br /> the state where the Property is located and the law of the state where the Escrow Holder is located,the law of the state where the Property is located shalt prevail.
<br /> 8.4 Subject to satisfaction of the contingencies herein described,Escrow Holder shall close this escrow(the"Closing")by recording a general warranty deed(a
<br /> grant deed in California)and the other documents required to be recorded,and by disbursing the funds and documents in accordance with this Agreement.
<br /> 8.5 Buyer.r,=+^"'L shall.,.i...«.-pay c'"-i'S.o.the Escrow Holder's charges and Seller shall pay the usual recording fees and any required documentary transfer
<br /> taxes. Ssirrw Buyer shall pay the premium for a standard coverage owner's or joint protection policy of title insurance.(See also paragraph 11.)
<br /> 8.6 Escrow Holder shall verify that all of Buyer's contingencies have been satisfied or waived prior to Closing. The matters contained in paragraphs9.1
<br /> subparagraphs(b),(c),ld),(e),(g),(i),(n),and(o),9.4,12,13,14,16,18,20,21,22,and 24 are,however,matters of agreement between the Parties only and are not
<br /> instructions to Escrow Holder.
<br /> 8.7 If this transaction is terminated for non-satisfaction and non-waiver of a Buyer's Contingency,as defined in paragraph 9.2,then neither of the Parties shall
<br /> thereafter have any liability to the other under this Agreement,except to the extent of a breach of any affirmative covenant or warranty in this Agreement. In the
<br /> event of such termination,Buyer shall,subject to the provisions of paragraph 8.10,be promptly refunded all funds deposited by Buyer with Escrow Holder,less only
<br /> the$100 provided for in paragraph 4.4 and the Title Company and Escrow Holder cancellation fees and costs,all of which shall be Buyer's obligation. II this
<br /> transaction is terminated as a result of Seller's breach of this Agreement then Seller shall pay the Title Company and Escrow Holder cancellation fees and costs.
<br /> 8.8 The Closing shall occur on the Expected Closing Date,or as soon thereafter as the Escrow is in condition for Closing;provided,however,that if the Closing
<br /> does not occur by the Expected Closing Date and said Date is not extended by mutual instructions of the Parties,a Party not then in default under this Agreement may
<br /> notify the other Party,Escrow Holder,and Brokers,in writing that,unless the Closing occurs within 5 business days following said notice,the Escrow s eemed
<br /> terminated without further notice or instructions. 8
<br /> f f
<br /> IttPage 2 of 8
<br /> /I)IITIALS Last Edited:10/31/2018 2:10 PM INITIALS
<br /> ®2017 AIR CRE. All Rights Reserved. OFA•20.00,Revised 01.03-2017
<br />
|