B. Property is presently occupied by [NUMBER] tenants under month-to-month tenancies or leases,
as set forth in Exhibit B, which is attached and made a part of this agreement. Transfer of title and
possession to property shall be subject to those tenancies, but all right, title and interest of Seller
in property shall be transferred to Purchaser or its nominees at the time of conveyance of title.
C. Conveyance of title shall be made and sale closed within [NUMBER] days after the date of this
agreement. Title shall be evidenced by a standard form title insurance policy issued by [NAME
OF TITLE COMPANY], insuring title to property to be in Purchaser or its nominees, subject only
to the matters set forth in this agreement
3. ASSESSMENTS
If, at the time of transfer of title, property or any part of property is subject to an assessment or
assessments payable in installments, all such installments not due or delinquent at the time of transfer
shall nevertheless be deemed to be due and payable at such time and as liens on the real property
described above, and all such assessments shall be paid and discharged by Seller.
4. ESCROW; PRO-RATION
A. Escrow shall be opened with [NAME OF ESCROW COMPANY]. Such instructions as the escrow
company may require, not inconsistent with the provisions of this agreement, shall be signed and
filed by the parties.
B. The following items shall be prorated as of the close of escrow: rentals, real estate taxes due but
not delinquent, prepaid insurance premiums [ADD OTHER ITEMS, AS APPROPRIATE].
C. Escrow shall close when the escrow company is in a position to record all documents required
under this agreement, make all disbursements, and [ISSUE OR SECURE] a title insurance policy.
5. RISK OF LOSS; MAINTENANCE; TRANSFER OF POSSESSION
A. Risk of loss or damage by fire or other casualty to property or any part of property prior to close of
escrow shall be the risk of Seller. In the event of such loss or damage prior to closing, this
agreement shall not be affected but Seller shall assign to Purchaser all rights under any
insurance policy or policies applicable to the loss. If action is necessary to recover under any
casualty policy, Seller shall grant permission to bring the action in Seller’s name.
B. Improvements and personal property described above shall be maintained in their present
condition prior to the close of escrow by Seller, wear from normal and reasonable use and
deterioration excepted.
C. Possession of property, subject to the leases and tenancies referred to above, shall be
transferred at close of escrow.
6. COMMERCIAL ZONING
Seller warrants that property is zoned for commercial purposes and that all existing uses are lawful and
within such zoning. Purchaser plans the use of property for [DESCRIBE PURPOSES]. Purchaser intends
to apply for a [BUILDING PERMIT OR AS THE CASE MAY BE] for such additional use, and for
appropriate amendments to the existing zoning plan for the area in which property is located. Seller will
cooperate fully with Purchaser with respect to the contemplated plans. If Purchaser is unable to proceed
with the described project because of any adverse decision of [CITY], or any board, commission, or
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