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declarations shall be recorded immediately after the recordation of the deed of trust or other security instrument which secures repayment of the Public Assistance . Immediately thereafter, the Deed of Trust shall be recorded. The recordation of the relevant instruments in connection with the Development Grant and the Public Assistance will be undertaken by an escrow holder acceptable to the Agency, and on instructions approved by the Agency, in such a way as to effectuate the intent of this Agreement . (d) The Agency shall have the right from time-to-time, upon reasonable notice, to review the books and records of the Proj ect and/or the Developer regarding the f inances of the Proj ect . (e) Agency Assistance Funding Procedure. Subject to the other provisions hereof, including, without limitation, the conditions precedent set forth above, the proceeds of the Development Grant shall be disbursed to the Developer as follows : Funds will be issued directiv from the A enc to the Developer, , on a reimbursement basis . The Developer will provide the AQencv with such documentation as the Aaencv mav reasonablv reauire showinq that the Developer has paid the item for which reimbursement is souaht . The Agency has n�othe riqht, but not the obligation—t� , �--�1?�—��?�-p. to inspect the Propertv to veri fv that work or materials covered in the particular item has heen performed or delivered, as applicable. Section 2 . 03 . Escrow. a. The Agency and the Developer agree to establish an as escrow for the purchase and sale of the Property (the "Escrow") . The Escrow shall be established at First American Title Company, 1737 N. First Street, San Jose, California 95112, Attention: Rob Tidd, Telephone : (408) 451-7831 (the "Escrow Agent" ) . The Escrow REDW\0006\DOC\013-7 6 1\11\08 940 law