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Parties and delivered to the escrow holder within ten days of the execution of <br />this Agreement. Buyer and Seller shall also deposit with the escrow holder all <br />instructions, documents, and other items (1) identified in the escrow instructions <br />or (ii) reasonably required by the escrow holder to close the sale on the closing <br />date specified below. <br />Closing Date <br />Section 2.02. The escrow shall be closed on the date the deed is recorded. The <br />escrow shall be considered to be in a condition to close when the escrow holder I <br />is authorized under the escrow instructions, and when the escrow holder is <br />otherwise able, to record the grant deed. The escrow must be closed no later <br />than May 5, 2000,unless the closing date is extended pursuant to the terms of <br />this Agreement; provided, however, that this closing date shall not be extended <br />beyond May 12, 2000. <br />Prorations <br />Section 2.03. Not applicable. <br />Section 2.04. Not applicable. <br />Closing Costs <br />Section 2.05. The escrow fee to the Escrow Holder, other than the cost of the <br />above title insurance policy, shall be paid one hundred percent (100%) by Buyer, <br />and other charges and fees shall be paid by the Buyer for the purchase of <br />residential property in the County of San Mateo. <br />Vesting of Title <br />Section 2.06. At the close of escrow title shall vest in Peninsula Habitat for <br />Humanity, Inc. <br />ARTICLE 3. ADDITIONAL TERMS AND CONDITIONS <br />Preliminary Title Report . <br />Section 3.01. Within three days after the execution of this Agreement, Seller <br />shall furnish Buyer with a preliminary title report of the title to the Property and <br />each document shown as an exception or encumbrance in the report. This shall <br />be done at the expense of Seller. Within five days after the delivery of the report <br />and related documents to Buyer, Buyer shall notify Seller in writing of any <br />objection to any exception therein. If Buyer makes a timely objection to any <br />exception and the exception is not eliminated within ten (10) days of the Seller's <br />receipt of the objection, this Agreement shall be terminated. Buyer's failure to <br />2 <br />