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(b) At Closing, County shall: <br /> <br />(1) Execute and deliver to City for recordation the County City <br />Deed of Trust; <br /> <br />(2) assume the obligations of LifeMoves arising under the <br />Affordability Agreement and the Regulatory Agreement from and after the date of the <br />close of escrow for County’s repurchase of the Property, and execute and deliver such <br />Assignment and Assumption of Affordability Agreement and such Assignment and <br />Assumption of Regulatory Agreement as may be reasonably required by the City <br />Manager of the City and the County of San Mateo, in connection with County’s <br />assumption of the obligations of LifeMoves arising under the Affordability Agreement <br />and the Regulatory Agreement from and after the date of the close of escrow for <br />County’s repurchase of the Property in accordance with Section 4; <br /> <br />(3) assume the then outstanding principal amounts of the <br />Permitted Senior Mortgages, and execute and deliver such Assignment and <br />Assumption of Loan in connection with each of the Permitted Senior Mortgages as may <br />be reasonably required by the lenders in connection with County’s assumption of the <br />outstanding principal amounts of the Permitted Senior Mortgages in accordance with <br />Section 5; <br /> <br />(4) join LifeMoves in execution of the Assignment of <br />Intangibles; <br /> <br /> (5) join LifeMoves in execution of the Termination Agreement; <br /> <br /> (6) deliver to LifeMoves such evidence as the escrow holder <br />may reasonably require as to the authority of the person or persons executing <br />documents on behalf of County; <br /> <br /> (7) deliver such affidavits as may be customarily and reasonably <br />required by the title company, in a form reasonably acceptable to County; <br /> <br /> (8) deliver an executed closing statement approved by County; <br />and <br /> <br /> (9) deliver such additional documents as shall be reasonably <br />required to consummate the transaction contemplated by this Agreement. <br /> <br /> (c) At Closing, income and expenses shall be prorated as follows: <br /> <br /> (1) All income and expenses of the Property, shall be <br />apportioned as of 12:01 a.m., on the Closing Date, as if County were vested with title <br />to the Property during the entire day upon which Closing occurs. Such prorated items <br />shall include operating expenses or other items pertaining to the Property which are <br />REV: 06-06-17 JS <br />ATTY/RESO.0051/CC RESO REDWOOD FAMILY HOUSE TRANSITIONAL HOUSING LOAN FORGIVENESS <br />Page 55 of 68 <br />6.3.B. - Page 60