Escrow and Completion of Sale Sample Clauses

Escrow and Completion of Sale. Within five (5) days after City has exercised the Option, or as soon thereafter as reasonably practicable, an escrow shall be opened with an escrow company mutually acceptable to City and Owner for the conveyance of the Property to the City. The City shall deposit the Option Price in escrow not later than one (1) business day prior to the anticipated close of escrow date. The City’s obligation to close escrow shall be subject to the City’s approval of a then-current preliminary title report and, at City’s option, environmental and other site testing. Any exceptions shown on such preliminary title report created on or after the Owner’s acquisition of the Property shall be removed by Owner at its sole expense prior to the close of escrow pursuant to this Section 4 unless such exception(s) is(are) accepted by City in its reasonable discretion; provided, however, that City shall accept the following exceptions to title: (i) current taxes not yet delinquent, (ii) matters affecting title existing on the date of Owner’s acquisition of the Property, (iii) liens and encumbrances in favor of the Agency or the City, and (iv) matters shown as printed exceptions in the standard form CLTA owner’s policy of title insurance. In the event the Property or any portion thereof is encumbered by a mortgage or deed of trust, the City shall be permitted to unilaterally instruct the escrow agent to satisfy the indebtedness secured thereby out of the proceeds payable to the Owner through the foregoing escrow, or the City may satisfy all or a portion of the Option Price through the City’s assumption of the promissory note or notes held by the holders of the deeds of trust encumbering the Site, if such holder or holders consent thereto. City shall pay all of the escrow fees, documentary transfer taxes, recording fees, the cost of any owner’s policy of title insurance desired by the City, and any other costs and expenses of the escrow. City shall have thirty (30) days after exercise of the Option to enter upon the Property to conduct any tests, inspections, investigations, or studies of the condition of the Property. Owner shall permit the City access to the Site for such purposes. The City shall indemnify, defend, and hold harmless Owner and its officers, directors, shareholders, partners, employees, agents, and representatives from and against all claims, liabilities, or damages, and including expert witness fees and reasonable attorney’s fees and costs, caused by City’s activities ...
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Escrow and Completion of Sale. Within five (5) days after City has exercised the Option, or as soon thereafter as reasonably practicable, an escrow shall be opened with First American Title Insurance Company (“Escrow Holder”) for the conveyance of the Property to City. ATN shall deposit a grant deed conveying fee simple, marketable title to the Property (“Grant Deed”) and the City shall deposit the original Purchase Money Note, (marked “discharged”), in escrow not later than one
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Escrow and Completion of Sale. Within five (5) days after Agency has exercised the Right of First Refusal, or as soon thereafter as reasonably practicable, Developer and Agency shall enter into a purchase agreement upon the terms and conditions set forth in the Notice of Transfer and an escrow shall be opened with an escrow company mutually acceptable to Agency and Developer for the conveyance of the Site to Agency. Agency shall deliver funds sufficient for payment of the purchase price (including the Agency Loan Note, if cancellation of the Agency Loan Note is required) into such escrow not later than one (1) business day prior to the anticipated close of escrow date. The obligation of Agency to close escrow shall be subject to Agency’s approval during the applicable due diligence period of a then-current preliminary title report and, at the option of Agency, inspections, studies, tests, and investigations of the physical and environmental condition of the Site and other site testing. Any exceptions shown on such preliminary title report created on or after Developer’s acquisition of the Site and timely objected to by Agency and approved by Developer to be removed shall be removed by Developer at its sole expense prior to the close of escrow unless such exception(s) is (are) accepted by Agency in its reasonable discretion; provided, however, that Agency shall accept the following exceptions to title: (i) current taxes not yet delinquent, (ii) matters affecting title existing on the date of Developer’s acquisition of the Site, and
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Related to Escrow and Completion of Sale

  • Completion of Sale The Sale in respect of the Said Apartment and Appurtenances shall be completed by execution and registration of Sale deed in favour of the Allottee provided the Allottee tenders and pays in time the agreed consideration amount, extras, deposits and all other amounts required to be paid by the Allottee as per the terms herein recorded. The Allottee shall be bound to have the Conveyance deed of the Said Apartment And Appurtenances executed and registered on or before the Deemed Date Of Possession, failing which exclusive physical possession of the Said Apartment And Appurtenances shall not be delivered to the Allottee, although the Allottee shall become liable for Maintenance Charges and Rates & Taxes from the Date Of Possession Notice and in addition, all statutory taxes and penalties shall also be borne and paid by the Allottee. Till execution and registration of the proposed deed of Sale/Conveyance in respect of the Said Apartment and Appurtenances, the Allottee herein shall not be entitled to any right, title or interest in respect of the said apartment and Appurtenances.

  • COMPLETION OF AGREEMENT The District and the Union agree that this contract is complete. There shall be no additions to or deletions from the content of any Articles and there shall be no Articles added except by mutual agreement by the Board and the Union. In addition, there shall be no further negotiations on any matter that is within or comes within the scope of representation for the duration of the contract except by mutual agreement.

  • Commencement, Prosecution, and Completion of Work The Contractor will be required (a) to commence the Work under this Contract on the applicable Proceed Order Date, (b) to prosecute the Work with faithfulness and energy (c) to install the various parts of the work with equal steps shown on the Overall Project Schedule and at the same rate (or better) shown on the Overall Project Schedule and (d) to complete the Work within the Contract Time, as adjusted. Commencement of the Work shall mean actual physical work on the Site. Unless otherwise agreed, and subject to Change Orders, Material Completion of the Project must be achieved on or before the date established as the Material Completion and Occupancy Date under the Schedule.

  • At Substantial Completion and Final Completion the Contractor shall provide a certification letter certifying that the Work does not contain asbestos as required by the UTUGCs.

  • COMMENCEMENT AND COMPLETION OF THE PROJECT Section 3.01 The Project

  • Completion of Punch List items 14.4.1 All items in the Punch List shall be completed by the Concessionaire within 90 (ninety) days of the date of issue of the Provisional Certificate and for any delay thereafter, other than for reasons solely attributable to the Authority or due to Force Majeure, the Authority shall be entitled to recover Damages from the Concessionaire to be calculated and paid for each day of delay until all items are completed, at the lower of (a) 0.1% (zero point one per cent) of the Performance Security, and (b) 0.2% (zero point two per cent) of the cost of completing such items as estimated by the Independent Engineer. Subject to payment of such Damages, the Concessionaire shall be entitled to a further period not exceeding 120 (one hundred and twenty) days for completion of the Punch List items. For the avoidance of doubt, it is agreed that if completion of any item is delayed for reasons solely attributable to the Authority or due to Force Majeure, the completion date thereof shall be determined by the Independent Engineer in accordance with Good Industry Practice, and such completion date shall be deemed to be the date of issue of the Provisional Certificate for the purposes of Damages, if any, payable for such item under this Clause 14.4.1.

  • Commencement and Completion of Work Upon the Effective Date of the Contract, bidder agrees to commence all Preconstruction Activities. Upon issuance of a Proceed Order, bidder agrees to commence physical activities on the Site with adequate forces and equipment and to complete to Material Completion all work in 90 consecutive calendar days beginning the day after the date of the Proceed Order. Bid Bond. Enclosed herewith is a Bid Bond (NO OTHER FORM ACCEPTABLE) in the amount of Dollars ($ ) (being not less than five percent of the Bid). Bidder agrees that the above stated amount is the proper measure of liquidated damages that the Owner will sustain by bidder’s failure to execute the Contract or to furnish the Performance and Payment Bonds should bidder’s bid be accepted. Obligation of Bid Bond. If this bid is accepted within thirty-five days after the date set for the opening of bids and bidder fails to execute the Contract within ten days after Notice of Successful Bid, or if bidder fails to furnish both Performance and Payment Bonds, the obligation of the Bid Bond will remain in full force and effect and the money payable thereon shall be paid into the funds of the Owner as liquidated damages for such failure; otherwise, the obligations of the Bid Bond will be null and void. Bidder Certification Certification under Oath. Under oath I certify that I am a principal or other representative of the bidder, and that I am authorized by it to execute the foregoing bid on its behalf; and further, that I am a principal person of the bidder with management responsibility for the construction for the bidder, and as such I am personally knowledgeable of all its pertinent matters. I further certify that this bid is made without prior understanding, agreement, or connection with any corporation, firm, or person submitting a bid for the same services, materials, labor, supplies, or equipment and is in all respects fair and without collusion or fraud. Bidder and its principals understand that collusive bidding is a violation of state and federal law and can result in fines, prison sentences, and civil damage awards. Bidder agrees to abide by all conditions of this bid. BY: Authorized Signature (BLUE INK) Printed Name Title Sworn to and subscribed before me this Day of , 20 . Notary Public My commission expires:

  • Payments and Completion Payments may be withheld because of (1) defective work not remedied; (2) failure of contractor to make proper payments to subcontractors, workers, or suppliers; (3) persistent failure to carry out work in acceptance with this Agreement or these general conditions, or (4) legal claims. Final payment will be due after complete release of any and all liens arising out of the contract or submission of receipts or other evidence of payment covering all subcontractors or suppliers who could file such a lien. The contractor agrees to indemnify the Owner against such liens and will refund all monies including costs and reasonable attorney’s fees paid by the owner in discharging the liens. A 10 percent holdback is required by the lender to assure the work has been properly completed and there are no liens against the property. Owners Initials: Contractor’s Initials: -Continued on Page Three-

  • Completion of Project The Borrower shall carry out the Project in accordance with the Technical Description as may be modified from time to time with the approval of the Bank, and complete it by the final date specified therein.

  • Upon completion of the Project the Recipient shall make a full and complete accounting to the OPWC of the Eligible Project Cost.

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