Actions by Escrow Holder. To Close the Escrow, Escrow Holder shall:
(a) Cause the Deed to be recorded by the Parish Recorder of the Polk County, OR, and thereafter mailed to Buyer, and deliver the Owner’s Policy, the Non- Foreign Affidavit, the Assignment of Contract(s), and any surplus funds deposited by Buyer to Buyer;
(b) Pay all debts of Seller secured by liens against the Property or any portion thereof and pay all delinquent real estate taxes and assessments on the Property chargeable to Seller; and
(c) Deliver to Seller the funds in the amount of the Purchase Price, less or plus the net debit or credit to Seller by reason of the prorations and allocation of closing costs provided for in this Agreement.
Actions by Escrow Holder. In connection with the Closing, Escrow Holder shall take the following actions:
Actions by Escrow Holder. Upon the Closing, Escrow Holder shall disburse all funds deposited with Escrow Holder on account of the Purchase Price to Sellers as Sellers may direct or in accordance with a closing statement prepared by Escrow Holder and approved by Sellers and Buyer.
Actions by Escrow Holder. Provided that Escrow Holder shall not have received written notice from Buyer or Seller of the failure of any condition to the Closing or of the termination of the Escrow and this Agreement, when Buyer and Seller have deposited into Escrow the documents and funds required by this Agreement, Escrow Holder shall, in the order and manner herein below indicated take the following actions.
(a) Following Title Company’s acknowledgment that it is prepared and irrevocably committed to cause the Deed and any other documents which the parties hereto may mutually direct to be recorded in the Official Records and obtain conformed copies thereof for distribution to Buyer and Seller.
(b) Upon receipt of confirmation of the recordation of the Deed and such other documents as were recorded pursuant to Section 6.2(a) above, disburse all funds deposited in Escrow by Xxxxx as follows:
(i) Pursuant to the "Closing Statement" (as that term is defined in Section 6.3, below), retain for Escrow Holder’s own account all escrow fees and costs, disburse to Title Company the fees and expenses incurred in connection with the issuance of the Buyer’s Title Policy, and disburse to any other persons or entities entitled thereto the amount of any other Closing Costs (as defined below).
(ii) Disburse to Seller an amount equal to the Purchase Price, less or plus the net debit or credit to Seller by reason of the "Prorations" (as that term is defined in Section 6.8, below) and adjustments and allocation of Closing Costs provided for in this Agreement. Seller’s portion of the Closing Costs shall be paid pursuant to clause (i) above.
(iii) Disburse to Buyer any remaining funds in the possession of Escrow Holder after payments pursuant to clauses (i) and (ii) above have been completed.
(c) Cause Title Company to issue the Buyer's Title Policy to Buyer.
(d) Deliver to Buyer and Seller originals or copies of all documents deposited into Escrow.
Actions by Escrow Holder. When Escrow Holder has received all ------------------------ documents and funds identified in this Article 5 and has received written notification from Buyer and Seller that all conditions to closing to be satisfied outside of Escrow have been satisfied or waived, then, and only then, Escrow Holder shall promptly and concurrently:
5.4.1 Disburse all funds deposited with Escrow Holder by Buyer and Seller as follows:
5.4.1.1 Deduct all items chargeable to the account of Seller pursuant hereto;
5.4.1.2 Disburse the balance of the Purchase Price to Seller promptly upon the Close of Escrow;
5.4.1.3 Disburse the premiums for the Insurance Policies to the applicable insurance companies;
5.4.1.4 Disburse the premium for the Title Policy to Title Company; and
5.4.1.5 Disburse such other closing costs as may be required.
5.4.2 Cause the following documents to be recorded in the following order: (i) the Deed; (ii) the MRF Easements; then (iii) any other documents which the Parties hereto may mutually direct in writing to be recorded in the Official Records; obtain conformed copies of all recorded documents for distribution to the Parties; and cause applicable documentary or realty transfer taxes to be paid on the Property.
5.4.3 Direct the Title Company to issue the Title Policy to Buyer.
5.4.4 Deliver to each Party fully executed originals of any documents (or copies thereof) deposited into Escrow by the other Party pursuant hereto, and deliver the duplicate IT Contract, the original performance and completion bond, the CDC Guaranty and the duplicate original binders for the Insurance Policies to Seller.
Actions by Escrow Holder. Upon Close of Escrow, and when Title Company is prepared to issue the title insurance policy pursuant to Article VI, the Escrow Holder shall:
(a) Cause the Grant Deed from Seller to Buyer, or its assignee, to be recorded in the Official Records of the county in which the Real Property is located;
(b) Cause the Deed of Trust from Buyer to Seller to be recorded in the Official Records of the county in which the Real Property is located;
(c) Cause the Stock Certificate and Stock Power Certificate to be delivered to Buyer;
(d) Cause a title insurance policy to be issued to Buyer, or its assignee;
(e) Deliver the Transferor’s Certificate of Non-Foreign Status and all other Seller Closing Documents to Buyer;
(f) Disburse the balance of the Purchase Price to Seller.
Actions by Escrow Holder. When Escrow Holder has received all documents and funds identified in Article 5 and has received a closing statement approved and signed by Buyer and Seller, and written notification from Buyer and Seller that all conditions to Closing hereunder have been satisfied, then, and only then, Escrow Holder shall promptly and concurrently:
(i) Release the following documents to be recorded in the following order: (x) the Deed; then (y) any other documents which the Parties may mutually direct in writing to be recorded in the Official Records; and, upon recording, obtain conformed copies of all recorded documents for distribution to the Parties; and cause applicable documentary or realty transfer taxes to be paid on the Property.
(ii) Disburse all funds deposited with Escrow Holder by Buyer and Seller in accordance with the closing statement executed by Seller and Buyer and delivered to Escrow Holder at or prior to Closing.
(iii) Direct the Title Company to issue the Title Policy for the Property to Buyer.
(iv) Deliver to each Party fully executed originals of any documents (or copies thereof, if appropriate) deposited into Escrow by the other Party pursuant hereto. [SIGNATURES ARE SET FORTH ON THE NEXT PAGE]
Actions by Escrow Holder. On the Closing Date, Escrow Holder shall:
(1) Record the Deed (together with any other documents, such as Releases, and the Memorandum of Declaration of Use Restriction, required or requested to be recorded, such recordation being in the order approved by Xxxxx and Seller);
(2) Wire the amount due to Seller pursuant to the Closing Statement in accordance with written wiring instructions from Seller;
(3) Deliver the respective amounts due to third parties (e.g., the holders of the Existing Liens) pursuant to the Closing Statement in accordance with the respective instructions from such third parties;
(4) Cause Title Company to issue the Owner’s Policy (with an effective date that is the same as the date and time of the recordation of the Deed) and deliver the same to Buyer as soon as reasonably practicable thereafter (provided Buyer elects to obtain an Owner's Policy); and
(5) File all information returns required under Section 6045 of the Internal Revenue Code and take all other reporting actions as may be required in connection therewith.
Actions by Escrow Holder. On or after the Closing Date, provided each of the conditions to the obligations of the parties have been satisfied or expressly waived in writing, Escrow Holder shall undertake and perform the following acts in the following order:
(1) record the Memorandum of Ground Lease (with documentary transfer tax information to be affixed after recording) in the Official Records and obtain conformed copies thereof for delivery to Developer and City;
(2) deliver to Developer (i) the Leasehold Title Policy, (ii) one (1) original of the Ground Lease, and (iii) a conformed copy of the recorded Memorandum of Ground Lease; and
(3) deliver to City (i) one (1) original of the Ground Lease,
Actions by Escrow Holder. Upon the Close of Escrow, Escrow Holder shall promptly undertake all of the following:
