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electronic transfer of funds, or other immediately available funds, on or before the Closing Date, <br /> as defined below. <br /> 2.4. Agreements, Contracts. Seller shall, within five (5) days of the Effective Date of <br /> this Agreement, deliver to Buyer copies of all lease and rental agreements relating to the <br /> Affordable Units, and all other contracts or agreements in effect relating to the Property. <br /> ARTICLE 3. ESCROW <br /> 3.1. Opening Escrow. Seller and Buyer agree to open escrow with Fidelity, or any <br /> other escrow company approved by the Seller and Buyer having equal or greater financial <br /> responsibility, as escrow agent (the "Escrow Agent "), in Redwood city, California, within five <br /> (5) days following the Effective Date of this Agreement. <br /> 3.2. Escrow Instructions. This Agreement, together with the escrow instructions <br /> prepared by the Escrow Agent and executed by the Seller and Buyer, constitutes the joint escrow <br /> instructions of Seller and Buyer, and a duplicate original of this Agreement shall be delivered to <br /> the Escrow Agent upon the opening of escrow. The Seller and Buyer shall provide such <br /> additional escrow instructions as may be necessary and consistent with this Agreement. The <br /> Escrow Agent to whom these instructions are delivered is hereby empowered to act under this <br /> Agreement and, upon indicating its acceptance of the provisions of this Section 3.2 in writing <br /> and delivered to the Seller and to the Buyer within five (5) business days after the opening of <br /> escrow, shall carry out its duties as Escrow Agent hereunder. <br /> 3.3. Costs. <br /> 3.3.1. Seller's Costs. The Seller shall pay in escrow to the Escrow Agent the <br /> following fees, charges and costs promptly after the Escrow Agent has notified the Seller of the <br /> amount of such fees, charges and costs, but not earlier than ten (10) days prior to the scheduled <br /> date for the close of escrow: <br /> A. Costs necessary to place the title to the Property in the condition <br /> for conveyance required by the provisions of this Agreement; <br /> B. The escrow fee; <br /> C. Cost of drawing the deed; <br /> D. Recording fees; <br /> E. Notary fees; <br /> F. The premium for a CLTA standard form title insurance policy to <br /> be paid by Seller as set forth in Section 3.7.6. of this Agreement; <br /> G. Ad valorem taxes, if any, upon the Property for any time prior to <br /> conveyance of title; <br /> H. Any state, county or city documentary transfer tax; and <br /> 2 <br /> 82483.00000\5571002 3 <br /> ATTY /AGR/2010.120 <br /> 103010 <br />