Common use of Disbursements and Other Actions by Escrow Holder Clause in Contracts

Disbursements and Other Actions by Escrow Holder. Upon the Close of Escrow, Escrow Holder shall promptly undertake all of the following in the manner indicated: a. Escrow Holder shall next cause the Grant Deed to be recorded in the Official Records of the County, together with any other documents that the parties hereto may mutually direct. b. Escrow Holder shall hold and/or disburse all funds deposited with Escrow Holder by Buyer as follows: i. Deduct (and disburse) all items chargeable to the account of Buyer pursuant hereto; ii. Deduct (and disburse or credit to Buyer where appropriate) all items chargeable to the account of Seller pursuant hereto (including, without limitation, any credits and/or reimbursements to which Buyer is entitled where expressly provided in this Agreement); and iii. Refund to Buyer any excess funds deposited by Buyer. c. Escrow Holder shall direct the Title Company to issue the Title Policy to Buyer. d. Escrow Holder shall deliver to Buyer and Seller, originals of the executed counterparts of the documents and instruments deposited by the parties pursuant to Section 11 hereof that are not recorded, and conformed copies of all recorded documents; to Buyer only, the original of the Certification and the original California Form 593-C. e. Escrow Holder shall deliver to Buyer and Seller duplicate originals or copies (as the case may be) of all documents delivered by Escrow Holder to Buyer at the Close of Escrow. f. Escrow Holder shall provide Buyer and Seller with a closing statement covering the sale of the Property to Buyer.

Disbursements and Other Actions by Escrow Holder. Upon the Close of EscrowEscrow for any particular Property, Escrow Holder shall promptly undertake all of the following in the manner indicated: a. Escrow Holder shall next cause 14.1 Cause the Grant Deed to be recorded in the Official Records of the County, together with and any other documents that the parties hereto to this Agreement may mutually direct, to be recorded in the official records of the county in which such Property is located, with documentary transfer stamps (or, in jurisdictions outside California, with information regarding the purchase price paid by Buyer) not affixed to the Deed or recorded and an appropriate affidavit in lieu thereof to be recorded, if the same is reasonably possible. b. Escrow Holder shall hold and/or disburse 14.2 Disburse all funds deposited with Escrow Holder by Buyer Buyer, and not previously disbursed, as follows: i. Deduct (and disburse) all items 14.2.1 Pay to the parties entitled thereto amounts chargeable to the account of Buyer any Seller under the terms of this Agreement, including any prepayment fees to any lender or broker's commission payable by any Seller pursuant hereto; ii. Deduct (to Section 18, and disburse or credit to Buyer where appropriate) all items chargeable charge those amounts to the account applicable Seller's account. 14.2.2 Pay the remaining balance of Seller pursuant hereto (includingthe Purchase Price as directed by Sellers, without limitationafter giving appropriate credit for any amount that may have been paid directly by Buyer to Sellers against the Purchase Price and of which Escrow Holder has been notified jointly by Buyer and Sellers. 14.2.3 When the foregoing disbursements have been made, refund any credits and/or reimbursements remaining balance in the Escrow to which Buyer is entitled where expressly provided in this Agreement); and iii. Refund to Buyer any excess funds deposited by Buyer. c. Escrow Holder shall direct 14.3 Direct the Title Company to issue the Owner's Title Policy and deliver an original of that policy to Buyer. d. Escrow Holder shall deliver 14.4 Deliver to Buyer and Seller, originals of the executed counterparts of the documents and instruments deposited by the parties pursuant to Section 11 hereof that are not recorded, and conformed copies of all recorded documents; to Buyer only, the original of the Certification and the original California Form 593-C. e. Escrow Holder shall deliver to both Buyer and Seller duplicate originals or copies (as the case may be) of all documents delivered by Escrow Holder to Buyer at the Close of Escroweither party to, or recorded pursuant to, this Agreement. f. Escrow Holder shall provide 14.5 Deliver to both Buyer and Seller with a closing statement covering showing the sale distribution, application, receipt and earnings of the Property to Buyerall funds processed through Escrow.

Disbursements and Other Actions by Escrow Holder. Upon the Close of Escrow, Escrow Holder shall promptly undertake all of the following in the manner indicated: a. Escrow Holder shall next cause 13.1 Cause each Deed and any other documents that the Grant Deed parties to this Restated Agreement may mutually direct, to be recorded in the Official Records of the County, together with any other documents that the parties hereto may mutually direct. b. Escrow Holder shall hold and/or disburse 13.2 Disburse all funds deposited with Escrow Holder by Buyer as follows: i. 13.2.1 Deduct (and disburse) all items amounts, if any, chargeable to the account of Buyer pursuant hereto;under the terms of this Restated Agreement, and pay those amounts to the parties entitled to them. ii. Deduct (and disburse or credit 13.2.2 Pay to Buyer where appropriate) the parties entitled to all items amounts chargeable to the account of Seller pursuant hereto (includingunder the terms of this Restated Agreement, without limitationincluding the commission described in Section 16 below. 13.2.3 Pay the remaining balance of the Purchase Price as directed by Seller. 13.2.4 When all of the foregoing disbursements have been made, refund any credits and/or reimbursements remaining balance to which Buyer is entitled where expressly provided in this Agreement); and iii. Refund to Buyer any excess funds deposited by Buyer. c. Escrow Holder shall direct 13.3 Direct the Title Company to issue the Title Policy and deliver an original to Buyer. d. Escrow Holder shall deliver 13.4 Deliver to Buyer and Seller, originals of the executed counterparts of the documents and instruments deposited by the parties pursuant to Section 11 hereof that are not recorded, and conformed copies of all recorded documents; to Buyer only, the original of the Certification and the original California Form 593-C. e. Escrow Holder shall deliver to both Buyer and Seller duplicate originals or copies (as a closing statement showing the case may be) distribution, application, receipt and earnings of all documents delivered by Escrow Holder to Buyer at the Close funds of such party processed through Escrow. f. Escrow Holder shall provide 13.5 Deliver to Buyer each Xxxx of Sale. 13.6 Deliver to both Buyer and Seller with a closing statement covering counterpart of each Assignment and Assumption of Leases and Contracts and each General Assignment (in each case executed by the sale of other party). 13.7 Deliver the Property Novation Agreements signed by Buyer and the applicable Seller to Buyerthe applicable Seller.

Disbursements and Other Actions by Escrow Holder. Upon the Close of Escrow, Escrow Holder shall promptly undertake all of the following in the manner indicated: a. Escrow Holder shall next cause the Grant Warranty Deed to be recorded in the Official Records of the County, together with any other documents that the parties hereto may mutually direct. b. direct and then immediately disburse the Purchase Price proceeds as follows and in the following order: (i) pay all closing costs to be paid through Escrow Holder shall hold and/or (including premium for the Title Policy, escrow fees and recording charges); (ii) pay in full or the required partial release relating to all notes secured by existing deeds of trust encumbering the Property, if any, for the account of Seller, in accordance with separate instructions or demands approved by Seller, (iii) after deducting closing costs and other payments chargeable to Seller, and deducting or adding (as appropriate) pro-rations for the account of Seller, disburse all funds deposited the balance of the Purchase Price due to Seller at Close of Escrow in accordance with separate wiring or other payment instructions delivered to Escrow Holder by Buyer as follows: i. Deduct Seller; and (and disburseiv) all items chargeable to the account of Buyer pursuant hereto; ii. Deduct (and disburse or credit any remaining funds to Buyer where appropriate) all items chargeable in accordance with separate wiring or other payment instructions delivered to the account of Seller pursuant hereto (including, without limitation, any credits and/or reimbursements to which Buyer is entitled where expressly provided in this Agreement); and iii. Refund to Buyer any excess funds deposited Escrow Holder by Buyer. c. b. At Close of Escrow Holder shall (i) direct the Title Company to issue the a Title Policy to Buyer. d. Escrow Holder shall ; (ii) deliver to Buyer and Sellerconformed copies of the Warranty Deed, originals of the executed counterparts of the documents other Seller Closing Deliveries and instruments deposited by the parties pursuant Buyer’s closing statement; and (iii) deliver to Section 11 hereof that are not recorded, and Seller conformed copies of all recorded documents; to Buyer onlythe Warranty Deed, the original originals of the Certification Buyer Closing Deliveries and the original California Form 593-C. e. Escrow Holder shall deliver to Buyer and Seller duplicate originals or copies (as the case may be) of all documents delivered by Escrow Holder to Buyer at the Close of EscrowSeller’s closing statement. f. Escrow Holder shall provide Buyer and Seller with a closing statement covering the sale of the Property to Buyer.