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Sale of Building Closing Check List

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					                            Sales of Building Closing Check List

    I. Accounting                                                                 Yes   No

             a. Insure final balance in trust account is sufficient to cover
                all anticipated expenses as of the close of Escrow.

             b. Insure all possible rents are collected, and Aging Report
                is accurate as of close of Escrow.

             c. Double check security deposits and make sure there are
                no past tenant balances.

             d. Be sure to notify government entities such as the city
                business license, property taxes, property insurance, permit
                departments, etc of the change of ownership.

   II. Contract Vendors

             a. Insure all contract vendors and utility companies are
                notified of change of ownership

             b. Insure all vendors and utility companies are notified of
                exact date of termination and to process separate prorated
                bills as of the termination. This must be accomplished, at a
                minimum, thirty (30) days prior to close of Escrow.

             c. Insure security and alarm monitoring companies are notified
                not later than thirty (30) days prior to close of Escrow of the
                change of ownership and respective change in all emergency
                notification information.

  III. Property Specific Employees

             a. Insure all direct property specific employees on CHADUCO
                payroll are notified of change of ownership and prospective
                employer not later than thirty (30) days prior to close of
                Escrow. Find out how to handle any unpaid accrued
                vacation time.

             b. Insure contracted employees other than CHADUCO
                employees are notified by their respective contract employers
                of the change of ownership.

  IV. Tenants



Revised on 12/1/05                                                                           1
             a. Insure a standardized written notification is sent and received
                by all tenants of change of ownership and rent remittance
                information at the close of Escrow.

             b. Insure all tenants have proper emergency contact information
                for New ownership and understand clearly on what date the
                new information is effective.

   V. Physical Property

             a. Keys: Insure all property keys, to include key cards, are
                inventoried and accounted for. Insure a responsible
                representative of the new ownership signs a detailed receipt
                for all keys and key cards at the appropriate time.

             b. Tools, supplies, property plans, guarantee books, etc.:
                Inventory all physical property prior to close of Escrow.
                Insure a responsible representative of the new ownership signs
                a detailed receipt for all appropriate property.

             c. If there is a management transfer, perform a physical walk
                through of the building showing all mechanical rooms,
                roof, etc.

  VI. Management

             a. Insure that copies of all leases and amendments have been
                made to transfer to new owner as well as estopple originals.

             b. Prepare to transfer any blueprints held by the management
                company.

             c. If needed, notify CDC personnel to take location address from
                the CDC answering service emergency call list.




Revised on 12/1/05                                                                2

				
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