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JAH:djm 03/06/90R (REDEV) JAH:djm 03/19/90R JAH:djm 04/04/90R §310 Condition of Title The Agency and the Developer have caused the Title Company to prepare a preliminary title report ("Preliminary Report") dated March 26, 1990, with respect to each Acquisition Parcel in connection with the policy or policies of title insurance to be issued pursuant to Section 311 hereof. The Developer has been provided with a copy of each Preliminary Report and has approved the condition of title with respect to each Acquisition Parcel subject to the Developer's right to review and approve any liens created after March 26, 1990, but before conveyance of the Acquisition Parcels to the Developer. The Agency shall convey to the Developer title to the Acquisition Parcels free and clear of all recorded liens, encumbrances, covenants, assessments, easements, leases and taxes, except as are shown on the Preliminary Report with respect to each Acquisition Parcel, or as are so approved in writing by the Developer, which approval will not be unreasonably withheld. §311 Title Insurance Concurrently with recordation of the Grant Deed or Grant Deeds conveying title to the Acquisition Parcels, the Title Company shall provide and deliver to the Developer a title insurance policy issued by the Title Company insuring that the title to the Acquisition Parcels is vested in the Developer in the condition required by Section 310 of this Agreement. The Title Company shall provide the Agency with a copy of the title insurance policy. §312 Taxes and Assessments Ad valorem taxes and assessments, if any, on the Acquisition Parcels, and taxes which may be imposed upon the Developer's exercise of any rights under this Agreement, levied, assessed or imposed for any period whether commencing prior to or after conveyance of title, shall be borne by the Developer. §313 Land Use Regulations The Developer enters this Agreement with the understanding that the Project is consistent with the general plan of the City and is authorized to be constructed and operated under the applicable provisions of the Redevelopment Plan and, to the extent incorporated by reference in the Redevelopment Plan, any applicable provisions of other land use regulations of the City. Any material change in one or more of the aforesaid land use regulations prior to the issuance of the Certificate of Completion that adversely affects the construction or intended operation of the Project, shall be grounds for termination of this Agreement by the Developer pursuant to Section 1007. 12