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� <br /> 2 .09 of this Agreement have been recorded as provided. At the time <br /> that the instruments referenced in Section 2 . 09 have been recorded <br /> as provided, the Trustee shall be authorized and directed to <br /> advance the Development Grant on a pro-rata basis in parallel with <br /> the disbursal of the proceeds of the Public Assistance. The Agency <br /> has no obligation to oversee the application of the Development <br /> Grant by the Trustee in any particular manner, and regardless of <br /> how applied by the Trustee, the Developer shall remain responsible <br /> for the repayment of the Note. <br /> Section 2 .�3 . Escrow. <br /> a. The Agency and t he Developer agree to establish an <br /> escrow for the purchase and sale of the Property (the "Escrow") . <br /> The Escrow shall be established at First American Title Company, <br /> 1737 N. First Street, San Jose, California 95112, Attention: Rob <br /> Tidd, Telphone: (408) 451-7831 (the "Escrow Agent") . The Escrow <br /> 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 /> j ; insurance premiums, promptly after the Escrow Agent has notified <br /> ' � the Developer of the amount thereof, but not earlier than three (3) <br /> � <br /> calendar days before the date for the conveyance of the Property. <br /> REDW\0006\DOC\013-6 <br /> 6 3/08/OS mvc <br />