CCP 09-29-1997 - Laserfiche WebLink

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y"'. '''h, 'mO"Ol o[,o,h g'o'ml 100' """ '"'' ""01 b, d..oem;"d 0' Ib, e,Z, :. I Date, Seller shall deposit with the Title Insurer, from the Purchase Price, an amount equal -I to one hundred twenty-five percent (125%) of the most current estimate of such taxes, assuming for estimating purposes that the Real Property will be fully assessed. The Title Insurer shall hold such deposit in escrow and shall pay all interest earnings on such deposit to Seller. The Title Insmer shall retain such deposit to pay Seller's share of the I actual general real estate taxes payable in 1997, including interest payable therewith. When the amount of such general real estate taxes, including interest payable therewith, is determined and announced by the appropriate public authorities, the Title Insurer shall I promptly pay Seller's prorated share thereof to Buyer and shall pay any excess of such deposit over to Seller. If the escrowed funds are insufficient to pay Seller's prorated share, Seller shall promptly pay any deficiency to Buyer. If thc Closing occurs after . 1997, the year of the Closing shall apply rather than 1"997 for purposes of this paragraph. (d) Special Assessments. Sellcr shall pay at Closing all special assessments levied, I pending, deferrcd or constituting a lien against the Real Property as of the Closing Date. If the amount of such special assessments, or installments thereof, cannot be determined I on the Closing Date, Seller shall make a deposit with the Title Insurer pursuant to the formula and terms ofScetion 6(c) above. (e) Recording Costs. Seller will pay the cost of recording all documents necessary to I place record title in Seller in the condition warranted by Seller in this Agreement. Buyer will pay the cost ofreeording all other documents. eI (I) Uti I ities. Seller shall cause all mcters for utilities to be read during the day'light hours on thc Closing Date, and Seller shall pay all charges for all utilities through that . time. 7.) OPERA nON PRIOR TO CLOSING. During the period from the date hereof . through the Closing Date (the "Executory Period"), Seller shall operate and maintain the Property in the ordinary course of business in accordancc with prudent, reasonable business standards, including without limitation, the maintenance of adequate liability insurance and I insurance against loss by fire, windstorm and other hazards, casualties and con~ingencies,_ including vandalism and malicious mischief. Seller shall bear the risk of loss or damage to the Property through the Executory Period. However, during the Executory Period, Seller shall not I execute any contracts, leases, or other agreements regarding the Property that are not terminated prior to the Closing Date, nor perfoml any act that would impair or encumber the title to the Property, without the prior written consent of Buyer. Notwithstanding the foregoing, Seller shall . remove its billboard(s) from Parcel P(. ~prior to Closing. 8.) POST-CLOSING MATTERS. The following obligations of the parties shall I survive the Closing, and shall be performed/fulfilled within ( ) days after such Closing. (a) Additional Panel. Buyer shall allow Seller to place a second panel (facing east) I on ~J on the easterly billboard adjacent to Interstate 694. -- ~L. C 6. I - ----.--..-