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attached to this Agreement as Attachment 9 hereto and incorporated herein by reference (the "Grant Deed" or "Grant Deeds"). {}313 Condition of Title Shea shall have caused First American Title Company (the "Title Company") to prepare a Preliminary Report with respect to each Acquisition Parcel in connection with the policy or policies of title insurance to be issued pursuant to Section 314. Shea has been provided with a copy of each Preliminary Report and shall have approved the condition of title stated therein with respect to each Acquisition Parcel. Agency shall convey to Shea fee title to the Acquisition Parcels free and clear of all recorded liens, encumbrances, covenants, assessments, easements, leases and taxes, other than the Permitted Exceptions and any other exception approved in writing by Shea, which approval will not be unreasonably withheld, h. ll assessments and taxes shown on such Preliminary Reports that are Permitt6fl Exceptions shall be satisfied from the Letter of Credit (or Cash Deposit) at the time of acquisition by Agency. {}314 Title Insurance Concurrently with recordation of the Grant Deed or Grant Deeds conveying title to the Acquisition Parcels, the Title Company shall provide and deliver to Shea ALTA title insurance policy(ies) issued by the Title Company insuring that the title to the Acquisition Parcels is vested in Shea in the condition required by Section 313 of this Agreement together with such endorsements as are required by Shea. The Title Company shall provide Agency with a copy of the title insurance policy. Concurrently with the recording of the Grant Deed or Grant Deeds, the Title Company shall, if requested by Shea, provide Shea with an endorsement to insure the amount of Shea's estimated development costs of the improvements to be constructed upon the applicable Acquisition Parcels, including the costs of demolition, site clearing, grading, construction of buildings, and installation of infrastructure improvements ("Acquisition Development Costs"). {}315 Taxes and Assessments Ad valorem taxes and assessments, if any, and taxes which may be imposed upon Shea's exercise of any rights under this Agreement, levied, assessed or imposed shall be borne by Shea to the extent Shea is responsible for payment thereof in accordance with the provisions of Section 510. {}316 Land Use Regulations Shea enters into this Agreement with the understanding that the Franklin Street Project is consistent with the General Plan, the Franklin Street Area Plan and the Redevelopment Plan, and upon Shea's receipt of the requested approvals for construction thereof, the Shea Project will, if constructed, be constructed and operated under the applicable provisions of the Redevelopment Plan and, to the extent incorporated by reference in the Redevelopment Plan, other land use regulations of the City. Any material change in one or more of the aforesaid land use regulations prior to the issuance of the Certificate of Completion that adversely affects the construction or intended wc-21875