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17. Notice of Right to Downtown Operations D. Conditions to Close of Escrow. "Close of Escrow" for the sale of each Unit means the fulfillment of the Escrow terms and conclusion of the Escrow, including, without limitation, the execution of unexecuted documents, the recordation of documents specified for recording, the issuance of title insurance policies, the payment of fees and the delivery of documents as directed in these Instructions. The Close of Escrow for each Unit shall occur on the earliest date on which Escrow Holder is able to comply with all of the instructions contained in the relevant Purchase Agreement and these Instructions ("Closing Date"). The following are conditions to the Close of each Escrow: 1. Title Company shall be irrevocably committed to issue (a) to the Buyer an ALTA Owner's Title Policy insuring the Buyer's fee title in the Unit in the amount of the applicable purchase price ("Owner's Policy"), and (b) an ALTA lender's policy of title insurance insuring the lien of the Habitat Deed of Trust ("Leader's Policy"). The County of San Mateo and Housing Authority of the County of San Mateo may acquire title insurance at their sole cost. 2. You have received written authorization to close from Habitat from Maureen Sedonaen, CEO, msedonaen@habitatgsf.org and from City from Simarjit Kaur, skaur@redwoodcity.org. E. Procedure for Close of Escrow. On the Closing Date, Escrow Holder shall complete the Close of Escrow as follows and in the following order (unless otherwise stated, all Recordable Documents are to be recorded with the San Mateo County Recorder): 1. Attach correct legal descriptions to all documents, where so required; 2. Obtain full execution of all unexecuted documents; 3. Date all undated documents as of the Closing Date; 4. Record the Recordable Documents in the Priority Order listed in Paragraph C above; 5. Determine all closing costs and fees; including without limitation, all charges, fees, taxes and title insurance premiums payable on Close of Escrow and any other fees and charges approved for payment from Escrow by Habitat and deduct such fees from the proceeds deposited by Habitat in Escrow; 6. Issue the Owner's Policy to the Buyer and the Lender's Policy to Habitat; 7. Prepare and deliver to the respective parties (Habitat and/or City) signed originals of all documents included for delivery to either party and not delivered for recording, and one conformed copy of each of the recorded documents. 8. Obtain a Certificate of Insurance for Hazard Insurance naming Habitat as mortgagor/loss payee and additional lenders (City of Redwood City, San Mateo County, and the Housing Authority of the County of San Mateo) as additional insureds. Premium will be paid by the Buyer in escrow. 9. Per the Grant of Option to Repurchase & Resale Restriction Agreement, Section 11, release the Affordable Housing Regulatory Agreement and Declaration of Restrictive Covenants recorded on May 27, 2021 as Document No. 2021-083294 ATTY/AGR/2022.205 — 612 JEFFERSON JOINT ESCROW INSTRUCTIONS V3 REV: 07-28-22 SK Page 3 of 5