80A - JOINT PH - TRANSIT ZONING CODE, FINAL EIR, SPECIFIC PLAN ETC. - ORIGINAL PACKET PROVIDED TO COUNCIL

Home Browse Search

reasonably acceptable to the Parties, which will include inde pities and insurance Provisions in favor of Agency and which perinits Developer to enter upon the portion of Phase FS which has not then been Conveyed to Developer for the purpose of grading and site preparation. 201.5 Closing Procedure. Escrow Agent shall close Escrow for each Phase, as follows: (a) Record the Grant Deed for such Phase with instructions for the Recorder of Orange County, California to deliver the Grant Deed to the Developer; (b) Record the Agency Deed of Trust for Phase -1 or Please R-2, as applicable (brit not for Please FS since there will be no Agency Deed of Trust associated with Phase FS ) with instructions for the Recorder of Orange County, California deliver the Agency Deed of Trust to the Agency; (c.) the Regulatory Agreement for Phase -I or Phase R-2, as applicable but not for Phase FS since there will be no Regulatory Agreement associated with Phase FS with instructions for the Recorder of Orange County, California to deliver the Regulatory Agreement to the Agency; (d) Instruct the Title Company to deliver the applicable Title Policy to the Developer; (e) Deliver the Promissory Note to the Agency for Phase -1 or Phase R -2, as applicable (brit not for Phase FS since there is no Promissory Note associated with Phase FS; (f) File any informational reports required by Internal Revenue Code Section 6045(e), as amended, and any other applicable requirements; (g) Deliver the FMPTA Certificate for such Phase, if any, to the Developer; and (h) Forward to both the Developer and Agency a separate accounting of all funds received and disbursed for each party and copies of all executed and recorded or died documents deposited into Escrow, with such recording and filing date and information endorsed thereon. 202. Review of Title. The Developer shall, at its cost and expense, secure a survey of each Phase of the Site. Within thirty days after the Bate of Agreer ent, the Agency shall cause Old Republic Title Company, or another title company mutually agreeable to both parties (the "{Title Company"), to deliver to the Developer a standard preliminaly title report (the "Report") with respect to the title to the Site, together with legible copies of the documents constituting title exceptions (the "Exceptions" ) set forth in the Deport. The Developer shall have the right to approve or disapprove in its sole discretion i the Report, (ii) the Exceptions, (iii) any surveys delivered to it by Agency or ordered by Developer, i the availability and cost of any title endorsements the Developer or its lenders may desire, and any other inatters i D O C SO Ch 400673v 13/200272-0001