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(e) One-half (1/2) of escrow fees and recording fees; and <br />(f) One-half (1/2) of notary fees. <br />202.3 Escrow Instructions. This Agreement constitutes the joint escrow <br />instructions of Developer and Agency, and Escrow Agent to whom these instructions are <br />delivered is hereby empowered to act under this Agreement. The Parties hereto agree to execute <br />and deliver such documents (in recordable form as required), pay or deposit such funds, do all <br />such acts consistent with their respective obligations hereunder as may be reasonably necessary <br />to close the Escrow for each Phase in the shortest possible time and in any event on or before the <br />Outside Date for such Phase. All funds received in the Escrow shall be deposited with other <br />escrow funds in a general escrow account(s) and may be transfei7ed to any other such escrow <br />trust account in any State or National Bank doing business in the State of California. All <br />disbursements shall be made by check from such account. If in the opinion of Escrow Agent or <br />either Party it is necessary or convenient in order to accomplish the Closing of a Phase, such <br />Party may require that the Parties sign supplemental escrow instructions; provided that if there is <br />any inconsistency between this Agreement and the supplemental escrow instructions, then the <br />provisions of this Agreement shall control. The Parties agree to execute such other and further <br />documents as may be reasonably necessary, helpful or appropriate to effectuate the provisions of <br />this Agreement, the Escrow Agent is instructed to release Agency's and Developer's escrow <br />closing statements to both Parties. <br />202.4 Authority of Escrow Agent. With respect to the Closing of each Phase, <br />Escrow Agent is authorized to, and shall: <br />a. Pay and charge Agency for the premium of the Title Policy and <br />any amount necessary to place title in the condition necessary to satisfy Section 203 of this <br />Agreement. <br />b. Pay and charge Developer and Agency for their respective shares <br />of any escrow fees, charges, and costs payable under Section 202.1 of this Agreement. <br />c. Pay and charge Developer for any endorsements to the Title Policy <br />which are requested by the Developer. <br />d. Disburse funds, and deliver and record the Grant Deeds when both <br />the Developer's Conditions Precedent and the Agency's Conditions Precedent have been <br />fulfilled or waived by Developer and Agency. <br />e. Do such other actions as necessary, including obtaining the Title <br />Policy, to fulfill its obligations under this Agreement. <br />f. Within the discretion of Escrow Agent, direct Agency and <br />Developer to execute and deliver any instrument, affidavit, and statement, and to perform any act <br />reasonably necessary to comply with the provisions of FIRPTA and any similar state act and <br />regulation promulgated thereunder. Agency agrees to execute a Certificate of Non-Foreign <br />Status by individual transferor and/or a Certification of Compliance with Real Estate Reporting <br />10 EXHIBIT 4 <br />