Opening and Closing of Escrow. Within five (5) business days after the date on which this Agreement is executed by the Sellers and delivered to District, the Sellers and the District shall cause an escrow (the “Escrow”) to be opened with Escrow Holder for the sale of the Property by the Sellers to District. The Parties shall deposit with Escrow Holder a fully executed duplicate original of this Agreement as the escrow instructions for the Escrow. The Sellers and District shall provide such additional instructions as shall be necessary and consistent with this Agreement. If there is any conflict between the provisions of this Agreement and the provisions of such additional instructions, the provisions of this Agreement shall control unless expressly noted otherwise. Provided that each of the conditions to closing described in Section
Opening and Closing of Escrow. Immediately after the execution of this Agreement by both Xxxxx and Seller, Seller will deliver a fully executed copy of this Agreement to Escrow Agent. The Closing of Escrow shall take place on the date Escrow Agent (i) is irrevocably committed to issue the Title Policy to Buyer pursuant to Section 5.3, and (ii) disburses proceeds of the sale to Seller in accordance with the approved Closing Statement and any Buyer’s Closing instructions. The date for the Closing (“Closing Date”) shall be on the tenth day after the expiration of the Due Diligence Period.
Opening and Closing of Escrow. 10.1 Within two (2) days after the Date of Full Execution, Seller shall cause escrow ("Escrow") to be opened by delivering the fully executed Agreement, together with Buyer's check representing the Deposit (if supplied pursuant to Paragraph 2.1), to Chicago Title Company, San Jose, California, or such other company that the parties may agree upon in writing, which shall act as escrow holder ("Escrow Holder") ("Opening of Escrow"). Seller shall immediately notify Buyer of the Opening of Escrow. Escrow Holder is hereby authorized and instructed to act in accordance with the provisions of this Agreement which, together with Escrow Holder's standard general provisions, shall constitute Escrow Holder's instructions. In the event of any conflict between the terms of this Agreement and the terms of Escrow Holder's standard general provisions, the terms of this Agreement shall control. Buyer and Seller shall each deposit such other documents and instruments as are reasonably necessary to close escrow and complete the sale and purchase of the Property in accordance with the terms of this Agreement. If any requirements relating to the duty of Escrow Holder under this Agreement are not reasonably acceptable to Escrow Holder, or if Escrow Holder determines that it requires additional or amended instructions in order to perform its duties hereunder, the parties agree to make such additions and amendments to these escrow instructions as may be mutually agreed upon by the parties, provided such additions and amendments do not substantially change this Agreement or its intent. Buyer and Seller agree to hold Escrow Holder harmless from and against any action taken by Escrow Holder in accordance with the terms of this Agreement not requiring further instructions from the parties or actions taken based upon Seller's unilateral instructions, including, without limitation, the release of funds in accordance with Paragraph 15 hereof.
Opening and Closing of Escrow. Within 5 business days after the Effective Date, City and Developer shall cause an escrow (the “Escrow”) to be opened with Escrow Holder for the conveyance of the Land by City to Developer and shall deposit with Escrow Holder a copy of this fully executed Agreement. City and Developer shall provide such additional instructions consistent with this Agreement as may be reasonably required by Escrow Holder. Provided that each of the conditions to closing described in Section 2.4 have been satisfied, Escrow shall close (the “Close of Escrow”) on or before the date that is 18 calendar months after the Challenge Period End Date. If the Close of Escrow does not occur by such date, then any Party not then in Default may terminate this Agreement by written notice to the other Party, and Escrow Holder shall promptly return all fees and documents deposited with Escrow Holder to the depositing Party. Any escrow and title cancellation fees shall be paid equally by City and Developer.
Opening and Closing of Escrow. Within 5 business days following Optionee’s exercise of the Option, Optionee shall cause an escrow (the “Escrow”) to be opened with First American Title Insurance Company (the “Escrow Holder”) for the sale of the Option Property by City to Optionee and shall deposit with Escrow Holder a copy of this fully executed Agreement. City and Optionee shall provide such additional instructions consistent with this Agreement as may be reasonably required by Escrow Holder. Provided that each of the conditions to closing described in Section 2.5 have been satisfied, Escrow shall close (the “Close of Escrow”) as soon as possible, but in no event later than 120 days after determination of the Fair Market Value pursuant to Section 2.2.2; provided, however, that Optionee may, in its sole and absolute discretion, terminate this Agreement within 60 days after determination of the Fair Market Value by the Third Appraiser’s selection of an appraisal pursuant to Section 2.2.2. If the Close of Escrow does not occur by such date, then any Party not then in Default may terminate this Agreement by written notice to the other Party, and Escrow Holder shall promptly return all fees and documents deposited with Escrow Holder to the depositing Party. Any escrow and title cancellation fees shall be paid equally by City and Optionee.
Opening and Closing of Escrow. Within five (5) business days after the Effective Date of this Agreement is executed by WRSA and delivered to Developer, the WRSA and the Developer shall cause an escrow (the “Escrow”) to be opened with Escrow Holder for the sale of the Land by the WRSA to Developer. The Parties shall deposit with Escrow Holder a fully executed duplicate original of this Agreement as the escrow instructions for the Escrow. The WRSA and Developer shall provide such additional instructions as shall be necessary and consistent with this Agreement. Provided that each of the conditions to closing described in Section 2.7 have been satisfied, Escrow shall close (the “Close of Escrow”) on or before December 12, 2022. If the Close of Escrow does not occur by such date, any party not then in default may terminate this Agreement by written notice to the other and all the funds and documents deposited with Escrow Agent shall be promptly refunded or returned, as the case may be, by Escrow Agent to the depositing party, except that all escrow and title cancellation fees shall be paid by Developer.
Opening and Closing of Escrow. (a) Concurrently herewith, an escrow (the “Escrow Account”) shall be opened with First American Title Company, 0000 Xxxxxx Xxxx, Xxxxx 000, Xxxxxxxxxx, XX 00000 (the “Escrow Holder”), Attn: Xxxxx Xxxxx, Escrow Officer. For the purposes of this Agreement, Opening of Escrow shall mean the date on which Escrow Holder shall have received fully executed counterparts of this Agreement from Buyer and Seller, and “Close of Escrow” shall be the date that a grant deed for the Property in favor of Xxxxx is recorded in the County Recorder’s Office.
(b) Upon opening Escrow Account with the Escrow Holder, Buyer shall deposit One Thousand Dollars ($1,000.00) with the Escrow Holder as the “Initial Deposit.” The Initial Deposit shall be fully applicable to the Purchase Price.
(c) Buyer, or its designees, shall have a period to undertake due diligence with respect to the Property ending at 5:00 p.m. on the date sixty (60) days after the Effective Date (the “Due Diligence Period”), and to give the Notice of Approval prior to the expiration of the Due Diligence Period.
(d) During the Due Diligence Period and thereafter until this Agreement is terminated, Buyer, its employees, agents, contractors and subcontractors shall have the right to enter upon the Property to inspect the Property. Within three (3) business days of the Effective Date of this Agreement, Seller will provide to Buyer all documents in its possession, custody or control related to the Property, including but not limited to all environmental reports, biological reports, city fee estimates, cost estimates, soils reports, Phase 1 or Phase 2 studies, and the like (the “Property Documents”). Buyer hereby acknowledges that Seller has not made and does not make any warranty or representation, express or implied, regarding the truth or accuracy of any of the documents, materials or information provided to or made available to Buyer or the source thereof. Buyer shall have the right during the Due Diligence Period to investigate title and to conduct any feasibility, economic, environmental, political, title or engineering studies, or make such other investigations, studies and tests with respect to the Property as Buyer deems necessary or appropriate to determine the feasibility of purchasing the Property. If Buyer exercises its rights of entry under the provisions of this Section 2(d), Buyer shall (i) keep the Property free of any liens or third-party claims resulting therefrom; (ii) indemnify and defend Seller against...
Opening and Closing of Escrow. Escrow shall be deemed Open upon Escrow Agent’s receipt of the Executed Purchase and Sale Agreement and the “Xxxxxxx Money” (defined in Section 3.1 below) on or before July 16, 2010. The Escrow shall be deemed to close (the “Close of Escrow”) when Escrow Agent records the “Deed” (as hereafter defined). The close of escrow shall occur on or before September 10, 2010 (the “Closing Date” and/or the “Closing”), at which time the Property shall be conveyed to Buyer as provided below. The Closing shall occur at the office of Escrow Agent or at such other location as the parties may mutually specify in writing. Time is of the essence.
Opening and Closing of Escrow. Within three (3) business days after the Effective Date, the parties shall open an escrow (“Escrow”) with Old Republic Title Company, Monterey (“Escrow Holder” and “Title Company”), at 000 Xxxxxx Xx, Monterey, CA 93940 Attn: Xxxxxxx Xxxxxxx, Escrow Officer; Phone: (000) 000-0000 Email: xxxxxxxx@xxxx.xxx; and shall deliver a copy of this fully executed Agreement to said Escrow Holder. “Close of Escrow” shall be the date that a grant deed conveying title to the Property to Buyer, is recorded in the Official Records of the Monterey County Recorder's Office. Subject to receipt of the Disposition Approvals (defined in Section 16), Close of Escrow shall occur on or before the date that is thirty (30) days after the expiration of the Due Diligence Period, as defined in Section 6.1 below.
Opening and Closing of Escrow. Within five (5) business days after the date this Agreement is executed by the City and delivered to Developer, the City and the Developer shall cause an escrow (the “Escrow”) to be opened with Escrow Holder for the sale of the Property to Developer and shall deposit with Escrow Holder a copy of this fully executed Agreement and request that an escrow be opened. The City and Developer shall provide such additional instructions consistent with this Agreement as may be reasonably required by Escrow Holder. Provided that each of the conditions to closing described in Section 2.7 have been satisfied, Escrow shall close (the “Close of Escrow”) on or before April 1, 2020. If the Close of Escrow does not occur by such date, any party not then in default may terminate this Agreement by written notice to the other, and all funds and documents deposited with Escrow Agent shall be promptly returned, by Escrow Agent to the depositing party, except that any escrow and title cancellation fees shall be paid by the defaulting party.
