RES 86391 - Laserfiche WebLink

Code, if unpaid at the close of escrow, and except as the City shall specifically agree to such encumbrances or easements prior to the close of escrop as permitted by Paragraph 7(b). * 4. Fence Removal. Within Thirty (30) days from execution of this Agreement and subject to City staking the new property line, Owner agrees to move an existing chain link fence along the northerly property line of the Subject Parcel to the newly established property line along the southeasterly border of the Subject Property and to remove all materials of Owner on the surface of the Subject Parcel. 5. Consideration (a) City shall pay owner the sum of FIFTEEN THOUSAND EIGHT HUNDRED AND THREE DOLLARS ($15,803.00) as full compensation for the fee described in Section 3. (b) City shall pay Owner the sum of ONE THOUSAND DOLLARS ($1000.00) as full compensation to Owner for moving its fence as described in Section 4. 6. Existing Assessments. The parties hereto intend to have title to the lands acquired pass free of all existing assessments. The parties intend to shift the existing assessments on APN 946-1251-007-1 after sale of the lands described in Section 3 herein to the City. The City and Owner agree to cooperate in effecting this transfer. 7. Joint Escrow Instructions. (a) Upon deposit into escrow by Owner of an executed Grant Deed to the Subject Property, City shall, within five (5) working days deposit a check for SIXTEEN THOUSAND EIGHT HUNDRED AND THREE DOLLARS (16,803.00) into the escrow made out to Northwestern Title Co. of Alameda County ("Northwestern Title")for the benefit of owner. Northwestern Title shall deposit the money in an interest bearing account and credit all interest received to Owner. (b) Upon removal of exceptions to title to the satisfaction of the City Attorney and segregation of assessments, Northwestern Title is authorized to record the Grand Deed to the Subject Property and disburse to Owner the funds in the escrow. (c) City and Owner covenant to exercise best efforts and to execute necessary documents to consummate this transaction on a timely basis. 8. Fees and Title Insurance. City shall pay all escrows and recording fees incurred in this transaction and, if title insurance is desired, the premium charged therefor. * City agrees that any remedy it may have against Owner for any reason, including failure of title, shall be limited to the consideration pa~d to the Owner pursuant to Section 5(a).