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The Escrow Agent is authorized to: <br /> 1. Pay and charge the City and the Developer, respectively, for any fees, <br /> charges and costs payable under this Section 202. Before such payments <br /> are made, the Escrow Agent shall notify the City and the Developer of the <br /> fees, charges and costs necessary to clear title and close the escrow; <br /> 2. Disburse funds and deliver the deed and other documents to the parties <br /> entitled thereto when the conditions of this escrow have been fulfilled by <br /> the City and the Developer; and <br /> 3. Record any instruments delivered through this escrow, if necessary or <br /> proper, to vest title in the Developer in accordance with the terms and <br /> provisions of this Agreement. <br /> All funds received in the Escrow shall be deposited by the Escrow Agent with <br /> other escrow funds of the Escrow Agent in a general escrow account or accounts with any state <br /> or national bank doing business in the Stale of California. Such funds may be transferred to any <br /> other such general escrow account or accounts.. All disbursements shall be made by check of the <br /> Escrow Agent. All adjustments shall be made on the basis of a thirty(30) day month. <br /> If this Escrow is not in condition to close before the time for Close of Escrow <br /> established in Section 204 of this Agreement, either party who then shall have fully performed <br /> the acts to be performed before the conveyance of title may, in writing, terminate this Agreement <br /> in the manner set forth in Section 406.1 or 406.2 hereof, as the case may be, and demand the <br /> return of its monies, papers or documents. Thereupon all obligations and liabilities of the parties <br /> under this Agreement shall cease and terminate in the manner set forth in Section 406.1 or 406.2 <br /> hereof, as the case may be, If neither the City nor the Developer shall have fully satisfied or <br /> waived all conditions precedent set forth in Section 203, or fully performed all other acts to be <br /> performed before the time for conveyance established in Section 204, no termination or demand <br /> for return shall be recognized until ten (10) days after the Escrow Agent shall have mailed copies <br /> of such demand to the other party or parties at the address of its or their principal place or places <br /> of business. If any objections are raised within the ten (10) day period, the Escrow Agent is <br /> authorized to hold all monies, papers and documents with respect to the Site until instructed in <br /> writing by both the City and the Developer or upon failure thereof by a court of competent <br /> jurisdiction. If no such demands are made, the escrow shall be closed as soon as possible. <br /> Subject to the provisions of Section 406..2, nothing in this Section 202 shall be construed to <br /> impair or affect the rights or obligations of the City or the Developer to specific performance, <br /> Any amendment of these Escrow instructions shall be in writing and signed by <br /> both the City and the Developer.. At the time of any amendment, the Escrow Agent shall agree to <br /> carry out its duties as Escrow Agent under such amendment. <br /> All communications from the Escrow Agent to the City or the Developer shall be <br /> directed to the addresses and in the manner established in Section 502 of this Agreement for <br /> notices, demands and communications between the City and the Developer, <br /> ATTY/AGR/2014 197/RDW GREYSTAR PDA <br /> REV:10-0144 PT&VR <br /> 82483.00017191 02745 13 7 <br />