RDA Agmt 2001 Batarse Family Trust UTA

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parties. (d) On the Closing Date, Escrow Agent shall close Escrow as~follows: (i) Record the Deed (marked for return to Purchaser) with the Alameda County Recorder (which shall be deemed delivery to Purchaser); (iii) Issue the Title Policy; (iv) Prorate taxes, assessments, rents, and other charges as provided in Section 7(e); (v) Disburse to Seller the Purchase Price less prorated amounts and charges tq, be paid by or on behalf of Seller; (vi) Charge Purchaser for those costs and expenses to be paid by Purchaser pursuant to this Agreement and disburse any net funds remaining after the preceding disbursements to Purchaser; (vii) Prepare and deliver to both Purchaser and Seller one signed copy of Escrow Agent's closing statement showing all receipts and disbursements of the Escrow. If Escrow Agent is unable to simultaneously perform all of the instructions set forth above, Escrow Agent shall notify Purchaser and Seller and retain all funds and documents pending receipt of further instructions jointly issued by Purchaser and Seller. (e) Prorations. Escrow Agent shall prorate the following costs at the Close of Escrow: (i) Purchaser shall pay: (A) the recording charges in connection with recordation of the Deed; (B) all charges in connection with issuance of the Title Policy; (C) the escrow fee charged by Escrow Agent; and (D) all governmental conveyancing fees and taxes due upon transfer of the Property. (ii) Real Estate Taxes, Bonds and Assessments. Real property taxes shall be prorated at the Close of Escrow based on the most current real property tax bill available, including any additional property taxes that may be assessed after the Close of Escrow but that relate to a period prior to the Close of Escrow, regardless of when notice of those taxes is received or who receives the notice. All installments of any bond or assessment that constitutes a lien on the Property at the Close of Escrow shall be paid by Seller. Section 8. Damage and Destruction (a) If any portion of the Property (not including the improvements thereon) is damaged by earthquake, mudslide, fire, release of or exposure to any hazardous substances, or any other casualty (other than any damage caused by Purchaser or its employees, agents, or contractors) prior to the Close of Escrow, in an amount exceeding $300,000, then Purchaser shall have the right to (a) terminate this Agreement by written notice to Seller within 15 days after the date on which Purchaser becomes aware of such damage, in which event Escrow Agent shall promptly return the Deposit and all interest earned thereon to Purchaser, or (b) complete the purchase of the Real Property as so damaged in accordance with the terms of this Agreement, in which event Seller shall assign any proceeds of insurance covering such damage to Purchaser. (b) If any portion of the Property is taken by condemnation or eminent domain initiated by any governmental entity other than the City of San Leandro or the Redevelopment Agency of the City of San 3