Duties of Escrow Holder. The duties of Escrow Holder shall be as follows:
Duties of Escrow Holder. Escrow Holder’s Obligations at Closing. Escrow Holder shall undertake the following at or promptly after Closing:
Duties of Escrow Holder. (a) Escrow Holder shall not be under any duty to give the Escrow Fund held by it hereunder any greater degree of care than it gives its own similar property and shall not be required to invest any funds held hereunder except as directed in this Agreement. Uninvested funds held hereunder shall not earn or accrue interest.
Duties of Escrow Holder. At or promptly after Closing, Escrow Agent shall proceed in accordance with the provisions set forth in Schedule 6.1(a).
Duties of Escrow Holder. The duties of Escrow Holder shall be as follows: (i) retain and safely keep all funds, documents and instruments deposited with it pursuant to this Agreement; (ii) upon the Closing, deliver to the Parties entitled thereto all funds, documents and instruments to be delivered through Escrow pursuant to this Agreement; (iii) upon the Closing, cause the recordation of the Grant Deed (as hereinafter defined) and the Termination of Easement (as hereinafter defined) in the Office of the County Recorder of the county where the Property is located; (iv) comply with the terms of this Agreement which specifically apply to Escrow Holder and comply with the terms of any additional written instructions jointly executed by Buyer and Seller; (v) handle the Deposit and all other funds deposited with Escrow Holder according to the terms of this Agreement; and (vi) upon the Closing, cause the Title Company to issue the Title Policy to Buyer.
Duties of Escrow Holder. Escrow Holder’s Obligations at Closing. Escrow Holder shall undertake the following at or promptly after Closing: 6.9.1 If necessary, Escrow Holder is authorized and instructed to insert the Closing Date as the effective date of any documents conveying interests herein or which are to become operative as of the Closing Date; 6.9.2 Cause the Deed and any other recordable instruments which the Parties so direct to be recorded in the Official Records of the Recorder of the County in which the Property is located. If permitted by applicable law, Escrow Holder is hereby instructed not to affix the amount of the documentary transfer tax on the face of each Deed, but to pay on the basis of a separate affidavit of Seller not made a part of the public record; 6.9.3 Cause each non-recorded document to be delivered to the Party acquiring rights thereunder, or for whose benefit such document was obtained, unless there are sufficient fully executed counterparts so that each Party executing the same can receive its own fully executed counterpart; 6.9.4 Deliver the Title Policy to Buyer as soon as practicable; and 6.9.5 Deliver to Seller the Closing Payment, and such other funds, if any, as may be due to Seller by reason of credits under this Agreement. 6.9.6 Comply with all applicable federal, state and local reporting and withholding requirements relating to the close of the transactions contemplated herein. Without limiting the generality of the foregoing, to the extent the transactions contemplated by this Agreement involve a real estate transaction within the purview of Section 6045 of the Internal Revenue Code, Escrow Holder shall have sole responsibility to comply with the requirements of Section 6045 of the Internal Revenue Code (and any similar requirements imposed by state or local law). For purposes hereof, Seller’s tax identification number is 00-0000000. Escrow Holder shall defend, indemnify and hold Buyer, Seller and their counsel free and harmless from and against any and all liability, claims, demands, damages and costs, including reasonable attorneys’ fees and other litigation expenses, arising or resulting from the failure or refusal of Escrow Holder to comply with such reporting requirements. 7.
Duties of Escrow Holder. The Escrow Holder shall deposit and maintain the Deposit in a federally insured interest-bearing “money market” account at Xxxxx Fargo Bank, N.A. or any other national commercial bank reasonably acceptable to Buyer, with the interest from such account to be credited upon the occurrence of the Closing to the Purchase Price. The Escrow Holder shall not commingle the Deposit with any other funds of the Escrow Holder. All interest earned on the Deposit will be the property of Buyer and will be reported to the Internal Revenue Service as income of Buyer (unless the Closing does not occur and Seller is entitled to receive the Deposit pursuant to the provisions of this Agreement). Buyer and Seller will each provide the Escrow Holder with a taxpayer identification number. If the Closing does not occur, the Escrow Holder shall disburse the Deposit to the party entitled thereto in accordance with the terms and conditions of this Agreement. If the Closing does occur, the Deposit shall be credited against the Purchase Price and disbursed to Seller on the Closing Date as part of the Purchase Price.
Duties of Escrow Holder. On the Close of Escrow, Escrow Holder ----------------------- shall (1) deliver to Buyer the Assignment of PIC's Partnership Interest, the Assignment of Grosvenor's Partnership Interest, and the Title Policy, (2) deliver to the Partners the cash proceeds in accordance with the Closing Statement, and (3) forward to Buyer and the Partners, in duplicate, an accounting of all funds received and disbursed and copies of all executed documents deposited into Escrow.
Duties of Escrow Holder. The duties of the Escrow Holder shall ----------------------- be as follows: (i) retain and safely keep all funds, documents and instruments deposited with it pursuant to this Agreement; (ii) disburse the Initial Deposit; (iii) upon the Closing, deliver to the parties entitled thereto all funds, documents and instruments to be delivered through the Escrow Holder pursuant to this Agreement; and (iv) upon the Closing, cause the recordation of the documents required for this transaction in the Official Records. Escrow Holder is instructed to (v) request that the amount of the documentary transfer tax due be shown on a separate paper and affixed to the Grant Deed by the County Recorder after the permanent record thereof is made; (vi) comply with the terms of this Agreement which specifically apply to the Escrow Holder and comply with the terms of any additional instructions jointly executed by Xxxxx and Seller; (vii) deposit all monies held by Escrow Holder in an interest bearing account according to further written instructions signed by Xxxxx and not in conflict with the terms of this Agreement; and (viii) upon the Closing, cause the Title Company to issue to Buyer the Title Policy in the amount of the Purchase Price insuring Buyer (or Trustee as applicable) as the fee owner of the Property and, if applicable, the lender's policy of title insurance referred to in Section 4.3 above.
Duties of Escrow Holder. The duties of the Escrow Holder shall ----------------------- be as follows: (i) retain and safely keep all funds, documents and instruments deposited with it pursuant to this Agreement; (ii) disburse the Initial Deposit; (iii) upon the Closing, deliver to the parties entitled thereto all funds, documents and instruments to be delivered through the Escrow Holder pursuant to this Agreement; and (iv) upon the Closing, cause the recordation of the documents required for this transaction in the
