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al>(43-12 1`x: 71 ##272 P,03/IS and to provide information and signatures as necessary to comply with Internal Re,%eaue Code Regulation section 1.170A-1'3 and Form 8283 and any counterpart forms required by the state of California. I. Fair Market'V'alue of the Proper : The parties agree that the fair market value of the Property, in the condition as'described herein, shall be established by an appraisal performed by a qualified, independent appiaiser prior to close of escrow." Donee shall cause said appraisal to be erfortned. Donor anor shall Ovide such information as is re ue t 1? s ed b the raiser or the q Y PP Donee and agrees to aceept.the value established by the appraisal as the fair market value of the r Property. The parties have, independent of this charitable contribution agreement,entered into another.transaction with Auto Iuvestment'Co. Associates (as Seller) and the City of Stockton(as Buyer) for acquisition of real',property loeated at 424 Nox tl 'Van Buren Street. Said transactibn is wholly unrelated'to this cha`ritable.contribution. Donor agrees to make the donation of the' Property described herein and Donee agrees to accept the donation and that said donationis not f conditioned upon the actual closing of the transaction involving the 424 North Van Buren Street property. 4. Escrow and Tide Re' ort and Title insurance: Prior to the execution of this Agreement,Donee shall secure, at its own cost, a title report and title insurance in an amount n less than the appraised value of the pro Fax the ose of con of Property in accordance P 5' urp sE7m atjng nausfer of the 1� rt3' with the terms herein;-set � forth,Donee will establish an escrow withFirst American Title Company or other title company.acceptable to Donee. k 5. Cost of'I mnsfer: Allcosts of the transfer shall be paid by Donee. Close of escrow " shall occur as soon as possible;after approval of the assignment described in section 14, below. 6. ' Taxes,Assessments and Gthq Cha es: Taxes, assessments,penalties,interest; charges,delinquency charges,and municipal service charges of every kind,levied upon or assessed against the Property, eixeept as otherwise expressly set forth herein, shall be paid by Donor to tlae.date of recordings` The remaining principal balance of any bond or assessment which is a lien against the Property shall be paid in full by Donor at close of escrow, without limitation-,., 7. 7['ra�Asfer: For the plup;ose of transferring the Property to Donee,Donor shall execute and acknowledge a grant or gift deed and deliver said deed to the ` title caann accordance with this Agreement. pany, to be used in S. Risk of Loss: Any and all loss or damage to the Property rty or to y existing Improvements occurring prior to the recording ob f the deed shall at thearrisk of Donor. 9. DoneDonee acknowledges that Donor, prior to the execution of this Agreement, permitted Donee to fully inspect the Property and soils and groundwater and investigate all matters relevant thereto including but not limited to the environmental condition. C of the properly, .Donee further acknowledges that Donor has fully cooperated With Donee mi all : aspects relating to.Donee's Inspection of property..Donee further acknowledges that it retained . environmental consultants and said environmental consultants have had a fiw opportunity to inspect and investigate every aspect of the Property including but not limited to the environmental condition of the property to the satisfaction of Donee: Page 2