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<br /> B. No later than ten (0) days prior to the close of escrow, the Escrow Agent will <br /> prepare a preliminary closing statement showing the debits and credits to each Party, which shall <br /> be approved in writing by each Party. <br /> Section IV - Close of Escrow <br /> When all of the deposits referenced above have been made, and when all of the <br /> conditions for close set forth in Section II above have been met, the Escrow Agent is directed to <br /> close the escrow in the following manner and in the sequence indicated (all recordations shall be in <br /> the official real estate records of the County of San Mateo): <br /> A. Record the Parcels Band C Deed. <br /> B. Record the Initial Parcel A Deed to the Air Rights Parcel. <br /> C. Record the Memorandum of DDA. <br /> D. Record the Final Parcel A Deed to the Air Rights Parcel. <br /> E. Issue the Title Policy to the Developer, with a copy to the Agency. <br /> F. Disburse funds to the Agency in accordance with a closing statement approved <br /> in writing by the Agency and the Developer prior to closing, without offset or deduction, and <br /> forward to the Agency the copy of the Cinema Lease. <br /> G. Provide each of the Parties with copies of all documents, including closing <br /> statements for each Party and title policies, received, issued or recorded by the Escrow Agent. <br /> H. Disburse such other documents and or funds as are relevant to the parties entitled <br /> thereto. <br /> Any funds deposited into escrow by the Developer and interest accrued thereon not <br /> disbursed to the Agency or otherwise as set forth in the approved closing statement shall be <br /> immediately disbursed to the Developer in the manner and to such account as directed by the <br /> Developer. <br /> All documents to be delivered to the Developer hereunder shall be delivered to its <br /> attorneys, Orrick, Herrington & Sutcliffe LLP, 405 Howard Street, San Francisco, California 94105 <br /> in care of Chris Chavez [telephone number (415) 773-5942)]. <br /> These instructions may be amended only by written agreement signed by each of the <br /> Agency, the City and the Developer. <br /> [SIGNATURES APPEAR ON FOLLOWING PAGE] <br /> REDW\0002\DOC\008-8. WPD <br /> 5 11 \5\04 900 law <br /> .. . - <br />