Laserfiche WebLink
6. Payment of Purchase Price. City agrees to pay to Seller, and Seller agrees to accept <br />from City, as and for the full purchase price for Said Real Property, including improvements to <br />Said Real Property, business goodwill (if any), fixtures, equipment and improvements to the realty, <br />severance damages (if any), bonus value, and any and all other damages or compensation to which <br />Seller is or could be entitled to as a result of City's acquisition of Said Real Property, the total sum <br />Of ONE MILLION ONE HUNDRED TWENTY THOUSAND AND NO/lOO DOLLARS ($1,120,000.00). <br />City agrees to deposit said purchase price in escrow with the Escrow Agent within THIRTY (30) <br />days after the date on which City has approved this PSA, and the Escrow Agent is hereby <br />authorized to pay the same to Seller upon and after: <br />(a) Conveyance of Said Real Property by Seller to City as hereinabove provided; <br />(b) Acceptance by City of a Grant Deed conveying Said Real Property to City; <br />(c) Delivery to City of the policy of title insurance as hereinabove required; <br />(d) Recordation of the Deed conveying Said Real Property to City. <br />7. Possession. Seller agrees to deliver to City, on the date the Deed conveying Said Real <br />Property to City is recorded, quiet and peaceful possession of Said Real Property, which shall be <br />made free by Seller of all personal property. <br />8. Rental and Occuuancy By Seller. Seller agrees to execute a complete, current and <br />correct statement of rentals (Estoppel Certificate) on a form furnished to Seller by Buyer, and <br />shall deliver same to Buyer within fifteen (15) days hereof with copies of any written leases or <br />rental agreements attached thereto. All rents will be prorated as of the close of escrow on the <br />basis of a 30-day month/360-day year consistent with that statement, subject to approval of <br />Buyer. Seller hereby agrees not to rent any units on the premises which are now vacant, or which <br />may be vacated by present occupants prior to close of escrow. Any and all Tenant Security <br />Deposits pertaining to the subject property collected by or in the possession of Seller prior to the <br />close of escrow shall be transferred to and become the property of Buyer during escrow. <br />Seller hereby warrants that the statement of rentals referred in this paragraph shall include the <br />terms of all rental agreements, tenancies, and leases (whether oral or written, recorded, or <br />unrecorded) and Seller agrees to hold Buyer harmless from all liability from any such leases or <br />agreements. Seller also warrants that there are no oral or written leases on all or any portion of <br />property exceeding a period of one month. <br />9. Waivers. The waiver by City of any breach of any covenant or agreement herein <br />contained on the part of Seller shall not be deemed or held to be a waiver of any subsequent or <br />other breach of said covenant or agreement nor a waiver of any breach of any other covenants or <br />agreements contained herein. <br />10. Heirs, Assigns, Successors-in-Interest. This PSA, and all the terms, covenants and <br />conditions hereof, shall apply to and bind the heirs, executors, administrators, successors and <br />Page 3 of 11 <br />Seller's Initials /~~ ,~~ ~~ ~~ <br />