Common use of Closing of Escrow Clause in Contracts

Closing of Escrow. 5.4.1 Pursuant to Section 6045 of the Internal Revenue and Taxation Code, Escrow Holder shall be designated the "closing agent" hereunder and shall be solely responsible for complying with the tax reform act of 1986 with regard to reporting all settlement information to the Internal Revenue Service. 5.4.2 Escrow Holder shall hold the Closing on the Closing Date if: (i) it has received in a timely manner all the funds and materials required to be delivered into Escrow by Buyer and Seller; and (ii) it has received assurances satisfactory to it that, effective as of the Closing, the Title Company will issue to Buyer its ALTA extended coverage (Form 1970) title insurance policy in the amount of the Purchase Price, insuring Buyer as the owner of the Property, subject only to the Permitted Exceptions (the "Owner's Policy"). 5.4.3 To Close the Escrow, Escrow Holder shall: (a) Cause the Deed to be recorded and thereafter mailed to Buyer, and deliver to Buyer the Owner's Policy, Bill of Sale, Assignxxxx and Assumption Agreement (executed by Seller), Non-Foreign Affidavit to, original Leases, original Contracts, Notice, Seller's Reaffirmation Certificate and all other documents delivered to Escrow Holder pursuant to Sections 5.1.1(h) and (i). (b) Deliver to Seller the Reaffirmation Certificate, the Assignment and Assumption Agreement (executed by Buyer) and by wire transfer of federal funds, funds in the amount of the Purchase Price, plus or less any net debit or credit to Seller by reason of the prorations and allocations of closing costs provided for in this Agreement, and less the Deposit, to the extent previously released to Seller.

Closing of Escrow. 5.4.1 Pursuant to Section 6045 of the Internal Revenue and Taxation Code, Escrow Holder shall be designated the "“closing agent" ” hereunder and shall be solely responsible for complying with the tax reform act of 1986 with regard to reporting all settlement information to the Internal Revenue Service. 5.4.2 Escrow Holder shall hold the Closing on the Closing Date if: (i) it has received in a timely manner all the funds and materials required to be delivered into Escrow by Buyer and Seller; and (ii) it has received assurances satisfactory to it that, effective as of the Closing, the Title Company will issue to Buyer Buyer, its ALTA extended standard coverage (Form 1970) CLTA title insurance policy in the amount of the Purchase Price, insuring Buyer as the owner of the Property, subject only to the Permitted Exceptions (the "“Owner's ’s Policy"”). 5.4.3 To Close the Escrow, Escrow Holder shall: (a) Cause the Deed to be recorded and thereafter mailed to Buyer, and deliver to Buyer the Owner's ’s Policy, Bill Xxxx of Sale, Assignxxxx Assignment and Assumption Agreement (executed by Seller), ) and Non-Foreign Affidavit to, original Leases, original Contracts, Notice, Seller's Reaffirmation and Certificate and all other documents delivered to Escrow Holder pursuant to Sections 5.1.1(h) and (i).Buyer; and (b) Deliver to Seller the Buyer’s Reaffirmation Certificate, the Assignment and Assumption Agreement (executed by Buyer) ), and by wire transfer of federal funds, funds in the amount of the Purchase Price, plus or less any net debit or credit to Seller by reason of the prorations and allocations of closing costs provided for in this Agreement, and less the Deposit, to the extent previously released to Seller.

Closing of Escrow. 5.4.1 Pursuant to Section 6045 of the Internal Revenue and Taxation Code, Escrow Holder shall be designated the "closing agent" hereunder and shall be solely responsible for complying with the tax reform act of 1986 with regard to reporting all settlement information to the Internal Revenue Service. 5.4.2 Escrow Holder shall hold the Closing on the Closing Date if: (i) it has received in a timely manner all the funds and materials required to be delivered into Escrow by Buyer and Seller; and (ii) it has received assurances satisfactory to it that, effective as of the Closing, the Title Company will issue to Buyer its ALTA extended standard coverage (Form 1970) title insurance policy in the amount of the Purchase Price, insuring Buyer as the owner of the Property, subject only to the Permitted Exceptions other than any encumbrance created by an act or omission of Buyer (the "Owner's Policy"). 5.4.3 5.4.2 To Close the Escrow, Escrow Holder shall: (a) Cause the Deed to be recorded and thereafter mailed to Buyer, and deliver to Buyer the Owner's Policy, Bill of Sale, Assignxxxx and Assignmexx xnd Assumption Agreement (executed by Seller)Agreement, Non-Foreign Affidavit to, original Leases, original Contracts, Notice, Seller's Reaffirmation and Withholding Certificate and all other documents delivered to Escrow Holder pursuant to Sections 5.1.1(h) and (i).Buyer; (b) Deliver to Seller the Reaffirmation CertificateBill of Sale, the Assignment Assixxxxnt and Assumption Agreement (executed by Buyer) and by wire transfer of federal funds, funds in the amount of the Purchase Price, plus or less any net debit or credit to Seller by reason of the prorations and allocations of closing costs provided for in this Agreement, and less ; (c) Cause the Deposit, Title Company to issue the extent previously released Owner=s Policy to SellerBuyer; and (d) Mail the Tenant Notices to all tenants of the Property.

Closing of Escrow. 5.4.1 Pursuant to Section 6045 of the Internal Revenue and Taxation Code, Escrow Holder shall be designated the "“closing agent" ” hereunder and shall be solely responsible for complying with the tax reform act of 1986 with regard to reporting all settlement information to the Internal Revenue Service. 5.4.2 Escrow Holder shall hold the Closing on the Closing Date if: (i) it has received in a timely manner all the funds and materials required to be delivered into Escrow by Buyer and Seller; and (ii) it has received assurances satisfactory to it that, effective as of the Closing, the Title Company will issue to Buyer Buyer, its ALTA extended standard coverage (Form 1970) CLTA title insurance policy in the amount of the Purchase Price, insuring Buyer as the owner of the Property, subject only to the Permitted Exceptions (the "“Owner's ’s Policy"”). 5.4.3 To Close the Escrow, Escrow Holder shall: (a) Cause the Deed to be recorded and thereafter mailed to Buyer, and deliver to Buyer the Owner's ’s Policy, Bill Xxxx of Sale, Assignxxxx Assignment and Assumption Agreement (executed by Seller), ) and Non-Foreign Affidavit to, original Leases, original Contracts, Notice, Seller's Reaffirmation and Certificate (and all other any additional documents delivered to Escrow Holder pursuant to Sections 5.1.1(hSection 5.1.1) and (i).to Buyer; and (b) Deliver to Seller the Buyer’s Reaffirmation Certificate, the Assignment and Assumption Agreement (executed by Buyer) ), and by wire transfer of federal funds, funds in the amount of the Purchase Price, plus or less any net debit or credit to Seller by reason of the prorations and allocations of closing costs provided for in this Agreement, and less the Deposit, to the extent previously released to Seller.

Closing of Escrow. 5.4.1 Pursuant to Section 6045 of the Internal Revenue and Taxation Code, Escrow Holder shall be designated the "closing agent" hereunder and shall be solely responsible for complying with the tax reform act of 1986 with regard to reporting all settlement information to the Internal Revenue Service. 5.4.2 Escrow Holder shall hold the Closing on the Closing Date if: (i) it has received in a timely manner all the funds and materials required to be delivered into Escrow by Buyer and Seller; and (ii) it has received assurances satisfactory to it that, effective as of the Closing, the Title Company will issue to Buyer its an ALTA extended coverage owner's policy of title insurance (Form 19701970b) title insurance policy including such endorsements as Buyer may request, in the amount of the Purchase Price, insuring Buyer as the owner of the Property, subject only to the Permitted Exceptions (the "Owner's Policy"). In no event may the Owner's Policy contain a creditor's rights exception. Buyer shall satisfy itself as to the necessary coverage and endorsements that the Owner's Policy shall contain prior to the Decision Date, and, unless the Title Company refuses to issue the Owner's Policy in the form the Title Company shall have approved prior to the 50 Decision Date, Buyer shall not be excused from its obligation hereunder by reason of the coverage and endorsements in the Owner's Policy. 5.4.3 To Close the Escrow, Escrow Holder shall: (a) Cause the Deed to be recorded in the Official Records of San Diego County, California and thereafter mailed to Buyer, and deliver to Buyer the Owner's Policy, Bill Xxxx of Sale, Assignxxxx Assignment and Assumption Agreement (executed by Seller), Non-Foreign Affidavit to, original Leases, original Contracts, NoticeAgreement, Seller's Reaffirmation Certificate Certificate, and Non-Foreign Affidavit, and any funds remaining in the Escrow after all other documents delivered title and escrow charges have been paid and after Seller has received the Purchase Price, as adjusted by reason of the prorations and allocations of closing costs provided for in this Agreement, to Escrow Holder pursuant to Sections 5.1.1(h) and (i).Buyer; and (b) Deliver to Seller the Buyer's Reaffirmation Certificate, the Assignment and Assumption Agreement (executed by Buyer) and by wire transfer of federal funds, funds in the amount of the Purchase Price, plus or less any net debit or credit to Seller by reason of the prorations and allocations of closing costs provided for in this Agreement, and less the Deposit, to the extent previously released to Seller.

Closing of Escrow. 5.4.1 Pursuant to Section 6045 of the Internal Revenue and Taxation Code, Escrow Holder shall be designated the "closing agent" hereunder and shall be solely responsible for complying with the tax reform act of 1986 with regard to reporting all settlement information to the Internal Revenue Service. 5.4.2 Escrow Holder shall hold the Closing on the Closing Date if: (i) it has received in a timely manner all the funds and materials required to be delivered into Escrow by Buyer and Seller; and (ii) it has received assurances satisfactory to it that, effective as of the Closing, the Title Company will issue to Buyer Buyer, its ALTA extended standard coverage (Form 1970) CLTA title insurance policy in the amount of the Purchase Price, insuring Buyer as the owner of the Property, subject only to the Permitted Exceptions (the "Owner's PolicyOWNER'S POLICY"). 5.4.3 To Close the Escrow, Escrow Holder shall: (a) Cause the Deed to be recorded and thereafter mailed to Buyer, and deliver to Buyer the Owner's Policy, Bill Xxxx of Sale, Assignxxxx Assignment and Assumption Agreement (executed by Seller), ) and Non-Foreign Affidavit to, original Leases, original Contracts, Notice, Seller's Reaffirmation and Certificate and all other documents delivered to Escrow Holder pursuant to Sections 5.1.1(h) and (i).Buyer; and (b) Deliver to Seller the Buyer's Reaffirmation Certificate, the Assignment and Assumption Agreement (executed by Buyer) ), and by wire transfer of federal funds, funds in the amount of the Purchase Price, plus or less any net debit or credit to Seller by reason of the prorations and allocations of closing costs provided for in this Agreement, and less the Deposit, to the extent previously released to Seller.