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04/08/2013 <br /> 2. USE OF FUNDS. Contractor will use the funds provided pursuant to <br /> Paragraph 1 solely for the Project purposes described in Exhibit "A" attached hereto and <br /> by this reference incorporated herein. Contractor shall perform services as described in <br /> Exhibit "A" in consideration of the payments set forth in Paragraph 4 and shall cause to <br /> be recorded through escrow, the Security Instruments set forth in Exhibit "B" and "D". <br /> 3. CHANGES TO PROJECT. No changes in the Project described in this <br /> Agreement which is funded by the financial assistance provided under Paragraph 1 will <br /> be made without the prior written consent of City. <br /> 4. PAYMENTS. Contractor shall submit a Disclosure of Estimated Fees from <br /> First American Title Insurance Company or such other escrow company as may be <br /> agreed upon by the parties (buyer, seller and City) to City for payment in accordance <br /> with the provisions of Exhibit "A". City shall deposit $450,000.00 into escrow account no <br /> later than three days prior to close of Escrow. City shall not be obligated to pay <br /> Contractor for the services covered by any invoice if Contractor presents the invoice to <br /> City on or after June 15, 2013. Contractor will keep detailed and accurate records of all <br /> expenditures made and expenses incurred which are funded under this Agreement. <br /> Contractor shall disclose amounts of Program Income, if any, generated by user fees <br /> and if any, will be subtracted from corresponding requests for payment; and Program <br /> Income, if applicable, will be expended by Contractor prior to requesting reimbursement <br /> from City. <br /> 5. STANDARD OF SERVICE. Contractor warrants to City that it will use and <br /> account for all funds provided hereunder strictly in accordance with standards governing <br /> the use of, and accountability for, funds held and disbursed in trust. The Project will <br /> conform to the highest standards providing for projects of similar or like nature in the <br /> ATTY/AGR/2013.043/KAINOS-1033 REDWOOD AVE <br /> REV:03-28-13 VR <br /> Page 3 of 34 <br /> RESO.#15256 <br /> MUFF#304 <br />