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<br />. <br /> <br />purposes incidental to the exploration for <br />and production of oil, gas, hydrocarbon sub- <br />stances, or minerals from the Property or <br />other lands, but without, however, any right <br />to use either the surface of the Property or <br />any portion of said Property within 500 feet <br />of the surface for any purpose or purposes <br />whatsoever, to the extent reserved by the <br />parties named in deeds, leases and other <br />documents of record. <br /> <br />. <br /> <br />(b) Escrow. The Agency agrees to open an escrow with <br />Safeco Title Insurance Company (the "Escrow Agent"), as escrow <br />agent, in Santa Ana, California, within five (5) days after <br />execution of this Agreement by the Agency. This Agreement <br />constitutes the joint escrow instructions of the Agency and the <br />Redeveloper, and a duplicate original of this Agreement accom- <br />panied by a letter signed by the Agency and the Redeveloper <br />stating that this Agreement is to be considered and used as <br />the escrow instructions shall be delivered to the Escrow <br />Agent upon the opening of the escrow. The Agency and the <br />Redeveloper shall provide such additional escrow instructions <br />as shall be necessary and consistent with this Agreement. <br />The Escrow Agent hereby is empowered to act under this Agree- <br />ment, and upon indicating its acceptance of the provisions <br />of this Section in writing, delivered to the Agency and to <br />the Redeveloper, within five (5) days after the opening of <br />the escrow, the Escrow Agent shall carry out its duties as <br />escrow agent hereunder. <br /> <br />upon delivery of a deed to the Escrow Agent by the Agency, <br />the Escrow Agent shall record such deed on the closing date <br />specified in additional escrow instructions to be provided by <br />the Agency and the Redeveloper in accordance with the terms and <br />provisions of this Agreement. The Escrow Agent shall buy, affix <br />and cancel any transfer stamps required by law. Any insurance <br />policies g~verning the Property are not to be transferred. <br /> <br />The Redeveloper shall pay in escrow to the Escrow Agent <br />the fOllowing fees, charges and costs promptly after the Escrow <br />Agent has notified the Redeveloper of the amount of such fees, <br />charges and costs, but not earlier than ten (10) days prior to <br />the scheduled date for the close of escrow: . <br /> <br />. <br /> <br />(i) One half of the esc~ow fee; <br /> <br />(ii) The portion of the premium for the title <br />insurance policy to be paid by the Redeveloper <br />as set forth in paragraph (f) of this Section. <br /> <br />-4- <br />