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FULL PACKET_2016-09-20
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FULL PACKET_2016-09-20
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9/20/2016 5:57:35 PM
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City Clerk
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Agenda Packet
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Clerk of the Council
Date
9/20/2016
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3. CONVEYANCE OF IN'fJIRNS'1' IN REAL PROPERTY, Teasnt-Scllcr agrees to <br />execute it Quitclaim Deed in tine same form as that attaohe(l hereto as Exhibit D in favor of Buyer <br />("Qultelnittt Deed"), relinquishing, releasing, and forever quitclaiming to Buyer all right title <br />and hrtores(In and to the `rouancy Interest, <br />1. <br />4, 'Tenant -Seller will vacate tic properly by = Lc..r _ , 2016. <br />5, CONVEYANCE OF INTFREST IN IMPROVEMENTS, The Quitclaim Deed <br />will also convey from Tenant -Seller to Buyer all of Tenant -Seller's interest is and to the <br />Improvements, which conveyance shall be free and clear of all recorded and unreoorded <br />encumbrances, liens, assessments, leases, and taxes, Unless otherwise provided, recording of the <br />Quitclaim Deed and Closing (as defined below) of the transaction described herein shall be <br />subject to 'Tenant-Soller's vaoatiou of the Premisos and proof of clear tido to all said <br />Improvements having been obtained slid received by Buyer in accordance with Paragraphs 8 Intl <br />9 of this Agreement, <br />G. RECORDING, Recordation of any doctuments delivered through this Agreement <br />is authorized if necessary or proper, upon acceptance by Buyer as described herein, <br />7, CERTIFICATION OP OWNERSI-IIL', Tommi -Seller hereby warrants slit( <br />certifies under penalty of porj ury that Tenant -Seller is the owner of the Improvements and that <br />no documeat has boon signeel by or ort behalf of Tcnaut-Sollor for the purpose of creating ally <br />lieu, encumbrance, or security interest la ally of file Improvements, and that the Tenant -Seller <br />does not know of any claim of lien, encumbrance, or other security Interest therein, EXCEPT: (it) <br />Trust Deeds on the Property, duly recorded; and (b) real and personal properly taxes, <br />8, PERMISSION TO ENTER PREMISES, Tenant -Seller hereby grants Buyer or its <br />nullrorized tigow's pormissioc to cator tgrmt the Premises at all reasonable times prior to Closing <br />of this transaction for the purpose of making trecessaty inspections, <br />9, BULK SALE, In outer to establish proof of clear title to the hmprovenreats, <br />Bayer may publish a Notice to Creditors pursuant to the Bulk Sales Law of the State of <br />California and obtain a title report amt/or a report from the Secretary of State's Office as to <br />filings of security interests cowling tile Improvements. <br />10. CONFLICTINQ INTERESTS. hr the event any conflicting claim of title or ally <br />security interest or Ron of ally kind is discovered or asserted as to any of the Luprovenrents, <br />Buyer shall, upon recelving notice or ktrowledge thereof, willlhol(l all amount othorwise payable <br />to Tenant -Seller as is reasonably necessary, ht tho sole opinion of Buyer, to protect Buyer against <br />such claim of Interest or lien, The withholding of such finds shall not preveul Closing of this <br />transaction if lire total fluids to be withhcld from Tenant -Seller tlo not exceed the net amount to <br />be paid to Tcnaut-Seller threugh this transaction, Buyer will not pay out the withheld funds or <br />disburse any withhold funds to any claimant or other party (except upon court order or levy) <br />without the written consent of Tenant -Seller. <br />A geacrai creditor's claim shall not be deemed to be it claim against an), specific <br />item of Improvements and Tonanl-Seller heroby ngreos to accept all responsibility therefore. <br />Unless otherwise provided, it shall be presumed that Tenant -Seller is entitled to payment under <br />25E-6 <br />
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