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4.2 Escrow Agent Authority. The City and the Developer authorize the Escrow Agent <br />to: <br />4.2.1 Charge. Pay and charge the Developer for the applicable fees, charges and <br />costs payable regarding the Escrow; <br />4.2.2 Settlement/Closing Statements. Release each Party's Escrow <br />settlement/closing statement to the other Party; and <br />4.2.3 Document Recording. Record any instruments delivered for recording <br />through the Escrow in the official records of the Recorder of the County, pursuant to the joint <br />instructions of the Parties. <br />4.3 Developer's Conditions to Close of Escrow. Provided that the failure of any such <br />condition to be satisfied is not due to a Default under this Agreement by the Developer, the <br />Developer's obligation to accept the conveyance and title of the Property from the City on the <br />Escrow Closing Date shall be subject to the satisfaction or waiver of each of the following <br />conditions precedent, each of which can only be waived in writing by the Developer: <br />4.3.1 Title. The Developer agrees to accept the title to and conveyance of the <br />Property, pursuant to Section 3.3; <br />4.3.2 Due Diligence. The Developer delivers its Due Diligence Completion <br />Notice to both the City and the Escrow Agent indicating the Developer's unconditional acceptance <br />of the condition of the Property, prior to the expiration of the Due Diligence Period; <br />4.3.3 Title Policy. The Title Company is, upon payment of the Title Company's <br />standard premium for such an insurance policy, irrevocably and unconditionally committed to <br />issue the Title Policy to the Developer, at the Close of Escrow; <br />4.3.4 Consistency Finding. The Planning Commission of the City has determined <br />that the disposition of the Property to this Agreement is consistent with the City's General Plan, in <br />accordance with Government Code Section 65402; <br />4.3.5 Approvals. Final issuance of all discretionary Approvals required from any <br />Government to construct, install or operate the applicable portion of the Project on the Property, <br />on terns and conditions reasonably acceptable to the Developer; <br />4.3.6 CEOA Documents. Final adoption, approval or certification of the CEQA <br />Documents, if any; <br />4.3.7 City Escrow Deposits. The City deposits all of the items into the Escrow <br />required by Section 4.6; <br />4.3.8 Settlement/Closing Statement. The Developer approves the Escrow <br />Agent's final estimated closing/settlement statement; and <br />20 <br />55 394.00049\3 323 9203.12 <br />