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 for any particular Property, Escrow Holder shall promptly undertake all of the following in the manner indicated: 14.1 Cause the Deed and any other documents that the parties 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. 14.2 Disburse all funds deposited with Escrow Holder by Buyer, and not previously disbursed, as follows: 14.2.1 Pay to the parties entitled thereto amounts chargeable to the account of any Seller under the terms of this Agreement, including any prepayment fees to any lender or broker's commission payable by any Seller pursuant to Section 18, and charge those amounts to the applicable Seller's account. 14.2.2 Pay the remaining balance of the Purchase Price as directed by Sellers, after 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 remaining balance in the Escrow to Buyer. 14.3 Direct the Title Company to issue the Owner's Title Policy and deliver an original of that policy to Buyer. 14.4 Deliver to both Buyer and Seller copies of all documents delivered to either party to, or recorded pursuant to, this Agreement. 14.5 Deliver to both Buyer and Seller a closing statement showing the distribution, application, receipt and earnings of all funds processed through Escrow.

Disbursements and Other Actions by Escrow Holder. Upon the Close of Escrow for any particular PropertyEscrow, Escrow Holder shall promptly undertake all of the following in the manner indicated: 14.1 13.1 Cause the each Deed and any other documents that the parties to this Restated Agreement may mutually direct, to be recorded in the official records 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 possibleCounty. 14.2 13.2 Disburse all funds deposited with Escrow Holder by Buyer, and not previously disbursed, Buyer as follows: 14.2.1 13.2.1 Deduct all amounts, if any, chargeable to the account of Buyer under the terms of this Restated Agreement, and pay those amounts to the parties entitled to them. 13.2.2 Pay to the parties entitled thereto to all amounts chargeable to the account of any Seller under the terms of this Restated Agreement, including any prepayment fees to any lender or broker's the commission payable by any Seller pursuant to described in Section 18, and charge those amounts to the applicable Seller's account16 below. 14.2.2 13.2.3 Pay the remaining balance of the Purchase Price as directed by Sellers, after 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 SellersSeller. 14.2.3 13.2.4 When all of the foregoing disbursements have been made, refund any remaining balance in the Escrow to Buyer. 14.3 13.3 Direct the Title Company to issue the Owner's Title Policy and deliver an original of that policy to Buyer. 14.4 Deliver to both Buyer and Seller copies of all documents delivered to either party to, or recorded pursuant to, this Agreement. 14.5 13.4 Deliver to both Buyer and Seller a closing statement showing the distribution, application, receipt and earnings of all funds of such party processed through Escrow. 13.5 Deliver to Buyer each Xxxx of Sale. 13.6 Deliver to both Buyer and Seller a counterpart of each Assignment and Assumption of Leases and Contracts and each General Assignment (in each case executed by the other party). 13.7 Deliver the Novation Agreements signed by Buyer and the applicable Seller to the applicable Seller.

Disbursements and Other Actions by Escrow Holder. Upon the Close of Escrow for any particular PropertyEscrow, Escrow Holder shall promptly undertake all of the following in the manner indicated: 14.1 Cause a. Escrow Holder shall next cause the Grant Deed and to be recorded in the Official Records of the County, together with any other documents that the parties to this Agreement hereto 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. 14.2 Disburse b. Escrow Holder shall hold and/or disburse all funds deposited with Escrow Holder by Buyer, and not previously disbursed, Buyer as follows: 14.2.1 Pay to the parties entitled thereto amounts 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 Seller under the terms of credits and/or reimbursements to which Buyer is entitled where expressly provided in this Agreement, including ); and iii. Refund to Buyer any prepayment fees to any lender or broker's commission payable excess funds deposited by any Seller pursuant to Section 18, and charge those amounts to the applicable Seller's account. 14.2.2 Pay the remaining balance of the Purchase Price as directed by Sellers, after 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 remaining balance in the Escrow to Buyer. 14.3 Direct c. Escrow Holder shall direct the Title Company to issue the Owner's Title Policy and deliver an original of that policy to Buyer. 14.4 Deliver d. Escrow Holder shall deliver to both 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 either party to, or recorded pursuant to, this AgreementBuyer at the Close of Escrow. 14.5 Deliver to both f. Escrow Holder shall provide Buyer and Seller with a closing statement showing covering the distribution, application, receipt and earnings sale of all funds processed through Escrowthe Property to Buyer.

Disbursements and Other Actions by Escrow Holder. Upon the Close of Escrow for any particular PropertyEscrow, Escrow Holder shall promptly undertake all of the following in the manner indicated: 14.1 Cause a. Escrow Holder shall cause the Warranty Deed and to be recorded in the Official Records of the County, together with any other documents that the parties to this Agreement hereto may mutually direct, direct and then immediately disburse the Purchase Price proceeds as follows and in the following order: (i) pay all closing costs to be recorded paid through Escrow (including premium for the Title Policy, escrow fees and recording charges); (ii) pay in full or the official records required partial release relating to all notes secured by existing deeds of trust encumbering 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 recordedProperty, if the same is reasonably possible. 14.2 Disburse all funds deposited with Escrow Holder by Buyerany, and not previously disbursed, as follows: 14.2.1 Pay to the parties entitled thereto amounts chargeable to for the account of any Seller under the terms of this AgreementSeller, including any prepayment fees in accordance with separate instructions or demands approved by Seller, (iii) after deducting closing costs and other payments chargeable to any lender or broker's commission payable by any Seller pursuant to Section 18Seller, and charge those amounts to deducting or adding (as appropriate) pro-rations for the applicable account of Seller's account. 14.2.2 Pay , disburse the remaining balance of the Purchase Price as directed by Sellers, after giving appropriate credit for any amount that may have been paid directly by Buyer due to Sellers against the Purchase Price and Seller at Close of which Escrow in accordance with separate wiring or other payment instructions delivered to Escrow Holder has been notified jointly by Buyer Seller; and Sellers. 14.2.3 When the foregoing disbursements have been made, refund (iv) disburse any remaining balance funds to Buyer in the accordance with separate wiring or other payment instructions delivered to Escrow to Holder by Buyer. 14.3 Direct b. At Close of Escrow Holder shall (i) direct the Title Company to issue the Owner's a Title Policy and deliver an original of that policy to Buyer. 14.4 Deliver ; (ii) deliver to both Buyer and Seller conformed copies of all documents delivered the Warranty Deed, originals of the other Seller Closing Deliveries and Buyer’s closing statement; and (iii) deliver to either party toSeller conformed copies of the Warranty Deed, or recorded pursuant to, this Agreementoriginals of the Buyer Closing Deliveries and Seller’s closing statement. 14.5 Deliver to both Buyer and Seller a closing statement showing the distribution, application, receipt and earnings of all funds processed through Escrow.