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. q.�-�Zt <br /> instruments that are required hccein, or that may be reasonably required by Escrow Agent, in <br /> order to consummate the transactions contemplated herein. <br /> §405 Terms of Escrow • <br /> With respect to the Agency Parcel and each Acquisition Parcel, the Escrow Agent is <br /> suthorized to: -_ _ . .:. --- - _ __ _ <br /> A. Pay, and charge Developer for, any fees, charges and costs payable under this <br /> Secrion 405. Before such payments or charges are made, the Escmw.Agent sha�l notify <br /> Developer of the fees, charges and costs necessary to clear titlg,and the Escrow. <br /> B. Disburse funds and deliver the applicable Grant Deed or Grant Deeds and other <br /> documents to the parties entitled thereto when the condiGons of this Escrow have been fulfilled <br /> by the Agency and Devetoper. <br /> C. Record any instruments delivered through tlris Escrow, if necessary or proper, to <br /> vest title in Developer in accordance with the terms and provisions of this Agreement. <br /> All funds received in tlus Escmw shall be deposited by the Escrow Agent in an interest- <br /> bearing escrow account or accounts with a federally insured institution as directed by Developer. <br /> Any interest eamed on such funds shall be the property of Developer. Such funds may be <br /> transferred to any other such general escrow account or accounts. All disbursements shall be <br /> made by check of the Escrow Agent. All adjustments aze to be made on the basis of a thirty (30) <br /> day month. <br /> If this Escrow is not in condition to close on or before the time of conveyance established <br /> in the Schedule of Performance, either party who then shall have fuily performed the acts to be <br /> performed before the conveyance of title, or, either Agency or Developer if neither have fully <br /> performed all such acts, may, in writing, terminate this Ageement in the manner set forth in <br /> Section 807 (B), 808(B), or 809(B), as applicable, and demand from the Escrow Agent the retum <br /> of its monies, papers or documents theretofore deposited in Escrow. No demand for retum shall <br /> be recognized until thirty (30) days after the Escmw Agent shall have caused copies of such <br /> demand to be delivered to the other party pursuant to Section 1002 of this Agteetnent. <br /> Objections, if any, to the return of monies, papers or documents theretofore deposited in Escrow, <br /> shall be raised by written notice to the Escmw Agent and to the non-temunating party not later <br /> than the thirtieth (30th) day following receipt of sucn notice, in which event the Escrow Agent <br /> shall hold all money, papers and docutnents with respect to the Agency and Acquisition Parcels <br /> unti] instructed by mutual agreement of the pazties or by a court of competent jurisdiction. <br /> Pursuant to receipt of such instruction from the parties or the court, or, if no timely objections <br /> have been submitted, the Escrow Agent shall terminate Escrow as soon as possible, whereupon <br /> the obligations and liabilities of the parties under this Agreement shall cease and terminate in the <br /> manner set forth in Sections 807(B), 808(B) or 809(B), as applicable. Nothing in this section <br /> shail be construed to impair or affect the rights or obligations of Developer to specific <br /> performance. <br /> 19 <br /> DOCSSF1:648942.4 <br /> 9975-5 C14 <br /> 120502 <br />