RDA Agmt 2001 Batarse Family Trust UTA

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Developer; and that no moratorium, statute, order, regulation, ordinance, legislation, judgment, ruling, assessment or decree of any court or governmental agency shall have been enacted, adopted, issued, entered, or be pending that could materially and adversely affect the Properties and/or Developer's ability to develop and operate the Improvements. 3.04 Condition of Title. Upon close of escrow for each Property, the Agency shall convey the Properties to Developer by a Grant Deed for each Property in substantially the same form attached hereto as Exhibit F, subject to the following: (i) the conditions and effect of the Redevelopment Plan, as such plan then exists or is thereafter from time to time amended; (ii) applicable building and zoning laws and regulations; (iii) the provisions of this Agreement; (iv) any lien for taxes accruing subsequent to recordation of the Grant Deed; and (i) assessments, conditions, covenants, restrictions or easements of record as otherwise approved by Developer in writing. 3.05 Costs of Escrow and Closing. Real property taxes, if any, shall be paid by Developer on apro-rated basis. Assessments payable thereon and approved by Developer shall be paid by Developer. Developer shall bear the cost of a CLTA or ALTA title policy; and in the event Developer requests an ALTA title policy, Developer shall bear the cost of a survey of the Properties. Developer shall pay the escrow fee, conveyance and transfer taxes and recording fees. 3.06 Possession and Environmental Remediation of the Yokota Property. The parties acknowledge that the Agency intends to demolish the existing improvements on the Yokota Property and conduct environmental remediation to ensure that the site is suitable for commercial development prior to any development occurring on the Property. Accordingly, the parties acknowledge that Developer shall not have access to the Property except by permission of the Agency until the Developer receives written notification from the Agency that such work has been completed. The City shall notify Developer in writing of the date the property will be available for possession ("Availability Date"). Developer shall have the option of terminating this Agreement if the Availability Date occurs after February 1, 2002 unless Agency shows that Agency is diligently moving forward to clear the site. Prior to the Availability Date, the Agency shall ensure that Developer has access to the Property as necessary to develop Construction Plans for the Improvements. Disposition and Development Agreement (Automall) Page 10 of 29