This is an example of escrow waiver verbiage which may be used to ‘waive’ the requirements for low flow toilets, showerheads, or any item of choice when the home is to be demolished or razed, or really for any reason. But, as always, check with your office broker and/or escrow officer before using this or any variation of it in your negotiations. This obviously is not approved by the city of Los Angeles or any city or county or any jurisdiction. Some agencies and brokerages also do not allow waivers of any kind due to liability and E&O insurance reasons. Use at your own risk. Use under advice of legal counsel.
AS A MATTER OF MEMO ONLY WITH WHICH ESCROW HOLDER IS NOT TO BE CONCERNED:
(1) ULTRA LOW FLOW TOILET RETROFIT ORDINANCE: Buyer and Seller desire to close the transaction without receipt of the Certificate of Compliance. In doing so, Buyer understands that possible surcharges may be assessed by the Department of Water and Power in the event retrofit is not completed and a Certificate of Compliance is not filed with the Department of Water and Power in a timely manner. The Escrow Holder and the Brokers are nevertheless hereby instructed (1) to close this escrow as scheduled, without receipt of the Certificate of Compliance, and (2) Buyer and Seller will obtain the Certificate of Compliance outside of escrow. Buyer and Seller hereby release and hold harmless and indemnify the Escrow Holder and the Brokers in this transaction from any and all liability and/or responsibility with regard to closing this escrow prior to the receipt and/or filing of the Certificate of Compliance. Escrow Holder and Brokers shall have no further responsibility in connection with the Certificate of Compliance or its retrofit requirements.
(2) Buyer shall be responsible for complying with retrofitting of the property, including obtaining the water conservation certificate. Buyer is aware that the City of Los Angeles mandates that all properties shall be required to have installed, prior to the close of escrow, a gas control shut-off valve. The installation of said gas control shut-off valve shall therefore be the responsibility of the buyer.
(1) Buyer is aware: The Certificate of Compliance is mandated by city ordinance, and is accordingly subject to due enforcement. Incidence of non-compliance are subject to any or all of the following actions: 1) Referral to the Office of the City Attorney, 2) Filing of complaint with the appropriate licensing body at the State of California, and 3) Escalating surcharges against the utility account.
Call us with any questions you or your client may have at 310.800.4418 or email us at retrofitla@gmail.com
