RDA Agmt 2000 American Baptist Homes of the West Inc etc

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3.04 Close of Escrow. The above-mentioned escrow shall close after the conditions specified in Sections 1.01 through 2.05 have been satisfied, and no later than thirty-nine (39) months after execution of this Agreement, provided that as of the Close of Escrow, there shall have been no material adverse change in the physical or title conditions of the Property from the conditions theretofore approved by 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 Property and/or Developer's ability to develop and operate its Improvements. 3.05 Condition of Title. Upon Close of Escrow the Agency shall convey the Property to Developer by the Grant Deed attached hereto as Exhibit E, subject only 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 Deed; (v) assessments, conditions, covenants, affordability covenants, restrictions or easements of record as otherwise approved by Developer in writing; or (vi) such other conditions as may be approved by the Developer, at its sole discretion. 3.06 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 the titre policy and Developer shall bear the cost of a survey of the Property. Any applicable escrow fees, conveyance and transfer taxes and recording fees shall be borne equally by Agency and Developer. Article Four: CONSTRUCTION OF IMPROVEMENTS 4.01 Construction Pursuant to Plans. All works of construction and development on the Property shall be done in accordance with the Construction Plans approved pursuant to Section 1.05 above.