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shall be opened within thirty (30) days after the Agency has <br /> formally approved, and both parties have executed, this Agreement . <br /> b. The Agency and the Developer shall provide and <br /> execute such additional escrow instructions consistent with this <br /> Agreement as shall be necessary with respect to the Escrow. The <br /> Escrow Agent hereby is empowered to act under this Agreement upon <br /> indicating its acceptance of this Section in writing, delivered to <br /> the Agency and the Developer, within five (5) calendar days after <br /> the establishment of the Escrow, and shall thereafter carry out its <br /> duties as the Escrow Agent hereunder. <br /> c . The Agency and the Developer shall execute and <br /> deliver to the Escrow Agent all documents necessary for the <br /> conveyance of title to the Property which is the subject of the <br /> Escrow, to the extent provided in this Agreement, in conformity <br /> with, within the times, and in the manner provided in this <br /> Agreement . <br /> d. The Developer shall pay one half of all escrow fees, <br /> and costs and fees related to the transfer of any of the Property <br /> from the Agency to the Developer in the Escrow, with the exception <br /> of title insurance premiums, promptly after the` Escrow Agent has <br /> notified the Developer of the amount thereof, but not earlier than <br /> three (3) calendar days before the date for the conveyance of the <br /> Property. The Agency shall pay one half of all escrow fees, and <br /> costs and fees related to the transfer of any of the Property from <br /> the Agency to the Developer in the Escrow, and all of the title <br /> insurance premiums, promptly after the Escrow Agent has notified <br /> the Developer of the amount thereof, but not earlier than three (3) <br /> calendar days before the date for the conveyance of the Property. <br /> Notwithstanding any language of this Agreement to the contrary, the <br /> Agency shall only be required to pay title insurance premiums for <br /> standard ALTA title insurance, and the costs of any other form of <br /> insurance, and/or any endorsements to such insurance, shall be the <br /> expense of the Developer to the extent that it exceeds the cost of <br /> standard ALTA coverage . <br /> e. With respect to the Escrow, the Agency shall timely <br /> and properly execute, acknowledge and deliver to the Escrow Agent <br /> a grant deed conveying to the Developer title to the subject <br /> Property in accordance with the requirements of this Agreement . <br /> f . During the Escrow, the Escrow Agent shall cause a <br /> Preliminary Title Report to be prepared and issued by <br /> £�e�.��the Escrow Aqent f or the Property, and <br /> shall promptly provide the Agency and the Developer with copies <br /> thereof along with legible copies of all reported title exceptions . <br /> REDW\0006\DOC\013-7 <br /> 7 1\11\08 940 law <br />