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<br />Agreement No. P13-052 <br />SAP Contract No. 4600002935 <br /> <br />F. Fee title shall generally be acquired by the local agency co-sponsor. However, if the <br />non-profit co-sponsor has 501 (c)(3) status, it may acquire fee title. In the latter case, fee <br />title shall be transferred within 180 days after completion of the on-site work to the local <br />agency co-sponsor, which hereby agrees to accept such transfer. <br /> <br />G. An Irrevocable Offer to Dedicate a real property interest for public use that is less than a <br />fee title, such as an easement or license, shall include the following provisions, and shall <br />be recorded concurrently with the instrument that conveys the real property interest to <br />the grantees: <br /> <br />1. the entity with the authority to accept the offer to dedicate the real property interest <br />shall be identified in the offer and shall be the local agency co-sponsor with the <br />capacity to accept an offer to dedicate title to the real property interest for public use; <br />and <br /> <br />2. the irrevocable offer to dedicate can only be extinguished or abandoned by such <br />local agency after at least N/A years and in accordance with applicable laws and <br />regulations. <br /> <br />H. Grantee shall complete the attached Acquisition Cost Schedule which includes budget <br />items relevant to the acquisition. Acquisition Cost Schedule, Exhibit E, is attached and <br />by this reference incorporated herein. <br /> <br />I. Method of payment. Funds provided by State for real property acquisitions shall be <br />deposited by State with an escrow holder acceptable to State and with escrow <br />instructions regarding funding and disbursal provided by State. If the escrow does not <br />close by the date set forth in State's escrow instructions, or such other date as may be <br />agreed to by the parties, the funds shall be returned to State. <br /> <br />J. Grantee shall supply a copy of any recorded vesting documents to the State after close <br />of escrow. <br /> <br />5 <br />