R-093-16 Authorize the Purchase of Parcel 0163-362-26 and to Amend the Fiscal Year 2016-2017 Budget to appropriate $75,000 for the purchase od Parcel 0163-362-26

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2.1 Openine of Escrow. Within one (1) business days following the Effective Date, Buyer and Seller shall open an escrow ("Escrow") with Freedom Escrow ("Escrow Holder"), for the purpose of consummating the transaction contemplated by this Agreement. For purposes of this Agreement, the Escrow shall be deemed open on the date Escrow Holder shall have received a copy of this Agreement, showing it to be fully executed by Buyer and Seller ("Opening of Escrow" or "Opening Date"). Escrow Holder shall notify Buyer and Seller, in writing, of the Opening Date. 2.2 Escrow Instructions. This Agreement constitutes the joint basic escrow instructions of Buyer and Seller for the conveyance of the Property. Buyer and Seller shall execute, deliver and be bound by any reasonable or customary supplemental or additional escrow instructions ("Additional Instructions") of Escrow Holder or other instruments as may be reasonably required by Escrow Holder in order to consummate the transaction contemplated by this Agreement. Any such Additional Instructions shall not conflict with, amend or supersede any portions of this Agreement unless expressly consented or agreed to in writing by Buyer and Seller. In the event of any conflict or any inconsistency between this Agreement and such Additional Instructions, this Agreement shall govern unless otherwise expressly consented or agreed to in writing by the Parties. 2.3 Close of Escrow. For purposes of this Agreement, "Close of Escrow" or "Closing" means the recordation in Official Records of San Bernardino County, California of a Grant Deed in form reasonably acceptable to Buyer and Title Company conveying fee title to the Property to Buyer ("Grant Deed"), and the disbursement of funds and distribution of other documents by Escrow Holder, all as described herein. The Close of Escrow shall occur on or before October 17, 2016 ("Closing Date"), provided that Buyer and Seller may, but shall not be obligated to, close the Escrow upon such earlier date as the Buyer and Seller mutually agree to in writing. Buyer and Seller may mutually agree to change the Closing Date by joint written notice to Escrow Holder. The Closing shall be conditioned upon satisfaction, or waiver by the Party for whose benefit the condition exists, of all conditions precedent thereto. In the event the Escrow is not in a condition to close by the Closing Date for any reason other than the uncured breach of either Buyer or Seller, then any Party who is not then in default of the terms of this Agreement may terminate this Agreement and the Escrow as provided in Section 6.1 herein. If no notice of termination as provided in Section 6.1 herein is received by Escrow Holder, Escrow Holder is instructed to proceed with the Close of Escrow as soon as possible. 2.4 Costs of Escrow and Title Policy. Because of Buyer's status as a public entity, no documentary transfer tax will be payable with respect to the conveyance contemplated by this Agreement, pursuant to California Revenue and Taxation Code Section 1192. Similarly, no recording fees will be payable with respect to the recording of the Grant Deed, pursuant to California Government Code Section 27383. Buyer shall pay all Escrow fees and costs attributable to conveyance of the Property pursuant to this Agreement and the cost of the Title Policy (defined below) (collectively, "Closing Costs"). Escrow Holder shall provide an estimated closing costs statement to Buyer and Seller at least three (3) days prior to the Closing Date. 2.5 Deposit of Funds and Documents. 23152.06319129248878.1 2