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2015-246
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2015-246
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Last modified
4/23/2018 3:42:20 PM
Creation date
12/17/2015 11:35:13 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
12/15/2015
Control Number
2015-246
Agenda Item Number
12.G.1
Entity Name
RREF RB 2012 LTI-FL PHP LLC
Subject
Alternative Water Supply
Sale and Purchase Property
Official Document 12.G.2
Area
925 5th St. SW
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force and effect and Buyer shall be obligated to complete the transaction as required by this <br />Agreement. <br />ARTICLE V <br />ESCROW AND CLOSING <br />5.1 Escrow Instructions. Upon execution of this Agreement, the parties hereto shall deposit <br />an executed counterpart of this Agreement with the Escrow Agent, and this Agreement shall <br />serve as the instructions to the Escrow Agent (and, if the Escrow Agent is not the Title <br />Company, to the Title Company with respect to the period of time that Title Company holds the <br />Deposit prior to completion of Closing) as the escrow holder for consummation of the purchase <br />and sale contemplated hereby. Seller and Buyer agree to execute such reasonable additional and <br />supplementary escrow instructions as may be appropriate to enable the Escrow Agent and/or the <br />Title Company to comply with the terms of this Agreement; provided, however, that in the event <br />of any conflict between the provisions of this Agreement and any supplementary escrow <br />instructions, the terms of this Agreement shall control. <br />5.2 Time and Place. Closing shall take place on the Closing Date or such earlier date as may <br />be mutually acceptable to the parties with all deliveries to be made in escrow to the Title <br />Company on or prior to the Closing Date; provided, however, that pursuant to Sections 4.1 and <br />4.3, Seller, at Seller's option, may extend the Closing Date for purposes of curing objections to <br />the status of title that were timely and properly, raised by Buyer. Buyer acknowledges that Seller <br />may at Seller's option use closing proceeds to satisfy any mortgage or lien on the Property. <br />5.3 Seller's Deposit of Documents, At or before Closing, Seller shall prepare, and deposit or <br />cause to be deposited into escrow with the Title Company the following items (which shall be in <br />the form(s) attached as Exhibits, if such Exhibits are attached; and if not, in form sufficient to <br />convey title to the Property and for the Title Company to delete the requirements of the Title <br />Commitment, in accordance with the requirements of this Agreement): <br />(a) an executed Deed with respect 'to the Land, in the form of Exhibit C hereto (if <br />attached), together with any State, County and local transfer tax declarations and forms required <br />to be executed by Seller; <br />(b) an executed Affidavit in the form of Exhibit D hereto (if attached); <br />(c) an executed Bill of Sale (without warranties) with respect to the Personal <br />Property, if any, in the form of Exhibit E hereto (if attached); <br />(d) two counterparts of an executed Assignment and Assumption Agreement with <br />respect to the Intangible Property in the form of Exhibit F hereto (if attached), together with <br />originals or copies of any Leases, Service Contracts and Permits, to the extent in Seller's <br />possession (which such Leases, Service Contracts and Permits shall be delivered at Seller's <br />property manager's office); <br />(e) a form letter executed by Seller; to advise all Tenants under Leases in the form of <br />Exhibit G hereto (if attached), and a form letter executed by Seller to advise all contractors <br />MIAMI 2957652.8 79037/33274 <br />I0 <br />
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