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6.3G <br />Page 8 <br />Escrow and Title Fees As per custom for residential <br />purchase and sale in the County of San <br />Mateo. Escrow to close within thirty (30} <br />days from date escrow is opened. <br />Escrow Company Fidelity National Title <br />570 EI Camino real, Suite 240 <br />Redwood City, CA 94063 <br />(650) 482-5151 <br />Restrictions Subject to Deed and/or CC&Rs <br />restrictions. Units to be occupied by low <br />or very low income household, as per <br />Gity of Redwood City guidelines. <br />Transfer of Real Property City shall convey the subject property to <br />the successful bidder in (name the real <br />property interest). <br />Reversionary interest City shall retain a reversionary <br />interest in the event Property is not used <br />for purpose intended. <br />Payment All cash at close of escrow. <br />Right to Repurchase City shall have the right to <br />repurchase the Property for amount of <br />sale to Bidder in the event Bidder fails to <br />use property for purposes intended. <br />No right to encumber Upon the transfer of the Properly to <br />Bidder, the Bidder shall not have the <br />right to encumber the Property except <br />with financing provided by Bidder. <br />Lease of Property Bidder shall lease Property to <br />qualified low or very low income <br />household within thirty (30} days of date <br />of units becoming vacant. <br />Bidder proposes to enter into a Development and Disposition Agreement <br />and hereby offers to manage the Property, provide tenant and building services <br />and serve as asset manager for a minimum period of 55 years. Specific terms <br />2 <br />