OPERATING
EXPENSES THROUGH ESCROW.
A)
FIRE INSURANCE:
- NO PRORATION, BUYER
TO PROCURE THEIR OWN INSURANCE OUTSIDE OF ESCROW.
B)
RENTS/DEPOSITS:
- NO PRORATION -
PROPERTY IS VACANT.
C)
PROPERTY TAXES:
- PRORATE TAXES BASED
ON LATEST AVAILABLE TAX BILL AS OF CLOSE OF ESCROW.
(WILSHIRE ESCROW COMPANY IS
NOT HELD RESPONSIBLE FOR ANY PERSONAL PROPERTY TAX WHICH MAY BE ASSESSED AGAINST
ANY FORMER OWNER OF THE ABOVE DESCRIBED PROPERTY NOR FOR THE CORPORATION OR
LICENSE TAX OF ANY CORPORATION AS A FORMER OWNER.)
8)
BUYER'S CONTINGENCIES:
PARTIES TO THIS
ESCROW HEREIN UNDERSTAND AND AGREE THAT PURSUANT TO THE ORIGINAL, THE FOLLOWING
CONTINGENCIES WILL BE DEEMED APPROVED BY BUYER IF WRITTEN DISAPPROVAL IS NOT
RECEIVED WITHIN THE FOLLOWING TIME LIMITS:
A)
AIR MANDATORY DISCLOSURE STATEMENT:
10 DAYS AFTER RECEIPT OF SAME.
SELLER TO PROVIDE SAID DOCUMENT TO BUYER AS
SHOWN ABOVE.
IF SAID DOCUMENTS ARE RECEIVED IN ESCROW FOR DELIVERY TO BUYER,
THEN ESCROW HOLDER SHALL CAUSE SAME TO BE MESSENGERED TO BUYER FROM ESCROW
HOLDER WITHIN 1 BUSINESS DAY OF RECEIPT OF SAME.
B)
ALL OTHER DISCLOSURES AND PROPERTY
INFORMATION SHEET:
- FEBRUARY 13, 2004.
BUYER HEREIN ACKNOWLEDGES THAT ALL
OTHER DOCUMENTATION, REQUIRED FOR BUYER'S DUE DILIGENCE APPROVAL, INCLUDING THE
PROPERTY INFORMATION SHEET, AS COMPLETED AND SIGNED BY SELLER, IS BEING
DELIVERED TO BUYER WITH THESE OPENING ESCROW INSTRUCTIONS VIA MESSENGER FOR
DELIVERY TO BUYER ON MONDAY, FEBRUARY 2ND.
C)
PHYSICAL INSPECTION:
- FEBRUARY 13,
2004.
D)
HAZARDOUS SUBSTANCE:
- FEBRUARY 13,
2004.
E)
SOILS INSPECTION:
- FEBRUARY 13, 2004.
F)
GOVERNMENT APPROVALS:
- FEBRUARY 13,
2004.
G)
PRELIMINARY TITLE REPORT AND UNDERLYING
DOCUMENTS:
- FEBRUARY 13, 2004.
BUYER HEREIN ACKNOWLEDGES RECEIPT OF COPY OF
UPDATED TITLE REPORT ISSUED BY INVESTOR'S TITLE COMPANY, ORDER NO. 173737-19,
DATED JUNE 21, 2004 AND COPIES OF UNDERLYING DOCUMENTS AS DESCRIBED THEREIN.
ITEMS 23, 26, 27, 28, 29 AND 30 AS SHOWN IN SCHEDULE B ARE TO BE ELIMINATED BY
CLOSE OF ESCROW.
ALL OTHER ITEMS SHOWN IN SCHEDULE B WILL BE DEEMED APPROVED IF
NOT DISAPPROVED WITHIN THE CONTINGENCY TIME LIMIT AS SHOWN HEREIN.
H)
ALTA SUPPLEMENTAL TITLE REPORT:
-
FEBRUARY 13, 2004.
BUYER, MUST FURNISH TITLE COMPANY WITH ACCEPTABLE SURVEY AT
BUYER'S OWN EXPENSE, USING BUYER'S OWN RESOURCES BEFORE SAID ALTA SUPPLEMENTAL
REPORT WILL BE ISSUED.
IF BUYER HAS NOT DELIVERED SURVEY TO TITLE COMPANY BY
FEBRUARY 2, 2004, IT WILL BE DEEMED BUYER HAS ELECTED NOT TO PROCURE THAT ALTA
EXTENDED OWNER'S TITLE POLICY.
2
I)
COPIES OF LEASES AND ESTOPPEL
CERTIFICATES (IF APPLICABLE):
-NOT APPLICABLE, THERE ARE NO TENANTS OCCUPYING
SUBJECT PROPERTY.
J)
OTHER AGREEMENTS, IF ANY:
-
FEBRUARY 13, 2004.
K)
PERSONAL PROPERTY:
BUYER HAS UNTIL
FEBRUARY 13, 2004 TO SATISFY ITSELF WITH REGARD TO THE TITLE CONDITION OF SUCH
PERSONAL PROPERTY.
SELLER TO DELIVER COPIES OF ANY LIENS OR ENCUMBRANCES
AFFECTING SUCH PROPERTY, THAT IT IS AWARE OF TO BUYER BY NOON ON JANUARY 23,
2004.
IF BUYER WANTS A UCC-1 REPORT ORDERED THROUGH ESCROW, BUYER MUST DELIVER
INSTRUCTIONS AND FUNDS TO PAY FOR THE COST