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<br />Agreement having not been satisfied or waived, the closing date for <br />Escrow shall be automatically extended for an additional period of <br />sixty (60) days to permit the satisfaction or waiver of such <br />unsatisfied conditions. The Agency and Developer may agree to <br />additional extensions of any of the closing dates, not to exceed an <br />additional ninety (90) days. <br /> <br />Section 2.05. <br />the Developer title to <br />Section 2.06 of this <br />substantially in the <br />"Grant Deed"). <br /> <br />Form of Deed. The Agency shall convey to <br />the Property in the condition provided in <br />Agreement and by means of a grant deed. <br />form attached hereto as Exhibit "G" (the <br /> <br />Section 2.06. Condition of Title. The title to the <br />Property conveyed by the Agency to the Developer shall be a <br />marketable title free and clear of encumbrances and exceptions, <br />except for: (a) the agreements, covenants and conditions of this <br />Agreement and the Grant Deed, (b) such pre-existing easements or <br />rights-of-way as may be disclosed by the Preliminary Title Report <br />and approved by the Agency and the Developer, (c) real property <br />taxes for the fiscal year in which escrow closes which constitute <br />a lien not yet payable, (d) certain easements to be retained by the <br />Agency, on behalf of it, the City or any utility provider, as set <br />forth in Exhibit "H" hereto and (e) the effect of continuing <br />litigation with respect to any parcel of the Property in an eminent <br />domain action, if the Agency should determine to bring any such <br />actions. <br /> <br />Section 2.07. <br /> <br />Conditions for Close of Escrow. <br /> <br />a. The Close of Escrow, and the Agency's obligation to <br />convey the Property to the Developer, are expressly conditioned <br />upon satisfaction of or waiver by the Agency of each of the <br />following: <br /> <br />1. The Developer shall have executed and deposited <br />with Escrow for recording simultaneously with the Close of Escrow, <br />the Declaration of Affordability Covenants as set forth in Section <br />4.05. <br /> <br />2. The Developer shall have executed and deposited <br />with Escrow for recording simultaneously with the Close of Escrow <br />the Deed of Trust as set forth in Section 2.02(b). <br /> <br />3. The Developer shall have ,received final <br />approval of any required general or special plan amendment, changes <br />in zoning, variances, special use permits, site plan approvals, <br /> <br />10 <br /> <br />REDW\0006\DOC\001-5 <br />1/27/05 7:00 /mve <br />