RecDoc 2018-088890 Strada Development Agreement 1548 Maple, LLC

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policy premium for its respective title insurance policy and any amounts necessary for all requested endorsements. 5.1. Other Documents. City and Strada agree to deposit with Escrow Agent any additional documents as may be necessary to complete this transaction. 5.2. Insurance. Insurance policies for fire or casualty are not to be transferred, and Strada and City may only each cancel its own policies with respect to the Maple Street Vacation Area and Public Right -of -Way and Public Service Easement Area, if any, after Close of Escrow. 5.3. Escrow Account. All funds received in the Escrow shall be deposited with other escrow funds in a general escrow account(s) and may be transferred to any other escrow trust account in any state or national bank doing business in the State of California. All disbursements shall be made by check or wire transfer from such account. 6. Taxes. 6.1. Delinquent Taxes. Escrow Agent shall pay and charge Strada for any unpaid delinquent property taxes, assessments or bonds and/or penalties and interest thereon, payable with respect to the Public Right -of -Way and Public Service Easement Area due and payable prior to the Close of Escrow. 6.2. Current Taxes. Strada shall remain obligated to pay all property taxes and assessments payable with respect to the Public Right -of -Way and Public Service Easement Area up to the Close of Escrow. Strada shall have the right, after Closing, to apply to the San Mateo County Tax Collector for refund of any excess property taxes which have been paid by Strada with respect to the Public Right -of -Way and Public Service Easement Area. Upon Closing, Strada shall be obligated to pay all future property taxes and assessments payable with respect to the Maple Street Vacation Area. Escrow Agent Authorization. Escrow Agent is authorized to, and shall: 7.1. Charge City. Charge City for City's share of Escrow fees, recording fees and other costs and expenses of Escrow payable under Section 7.7 below. 7.2. Charge Strada. Charge Strada for transfer taxes, if any, due in connection with the Exchange; and (ii) Strada's share of Escrow fees, recording fees and other costs and expenses of Escrow payable under Section 7.7 below. 7.3. Recordation and Delivery. When conditions of the Escrow have been fulfilled by City and Strada, record the Maple Street Grant Deed and the Acceptance of Irrevocable Offer, and deliver the title policies and the Non -Foreign Transferor Declarations to City and Strada. 7.4. Time Limits. All time limits within which any matter specified is to be performed may be extended by mutual agreement of the Parties. Any amendment of, or supplement to, any instructions must be in writing. Exhibit F-65 OAK #4843-3885-9090 v1 I ATTY/AGR/2018.094/STRADA DEVELOPMENT AGREEMENT REV: 07-27-18 VR Page 65 of 94