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STATION DIST DDA WITH CRA
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STATION DIST DDA WITH CRA
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7/29/2020 4:28:28 PM
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9/27/2010 1:29:49 PM
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(a) Pay and charge the Agency for the n Title Policy Costs, and <br />any amount necessary to place title in the condition necessary to satisfy Section 202 of this <br />Agreement. <br />(b) Pair and charge the Developer and Agency each 50% of escrow <br />fee s, charges, and co sis p ayable and r S e c Lion 20 l.1 of thi s Agreerne nt, exclu din 9 documentar <br />transfer taxes. <br />(c) Pay and charge the Developer for the Developer Title Policy Costs. <br />(d) record the Grant Deed, Regulatory Agreement, Notice f <br />Affordability Restrictions, as to the ntal Portion of the Project, Agency Deed of Trust for such <br />Phase, and any and all other recordable do e u ments when both the Developer's Conditions <br />Precedent and the Agency's Conditions Precedent for such Phase have been fulfilled, or waived <br />by the Orel oper or Agency, respectively. <br />(e) Do such other actions as necessary, in ludiner obtaining the <br />applicable Title Policy, to fulfill its obligations under this Agreement. <br />(f) Within the discretion of the Escrow Agent, direct the 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 FIPTA and any similar state or federal <br />act or regulation promu 1 gated thereunder. The Agency agrees to execute a Certificate of <br />Non-Foreign Status by individual transferor and/or a Certification of Compliance with Real <br />Estate Reporting Requirement of the 1986 Tax Deform Act for each P h a s as may be required by <br />the Escrow Agent, on the form to be supplied by the Escrow Agent. <br />(g) Prepare and file with all appropriate crovernmental or taxing <br />authorities a uniform settlement statement, closing statement, tax withholding forms including an <br />IRS 1099-S form, and be responsible for withholding taxes, if any such forms are provided for or <br />required by law. <br />201.4 Closing. Each Phase shall close (each a "Closing") within thirty 0 days <br />of the satisfaction of all of the Agency"s Agency" and Developer's Conditions Precedent to 1 i ng for <br />such Phase as set forth in Section 204 hereof, with respect to each Phase but in no event later <br />than a the earlier to occur of i one hundred fifty days after Developer recei gyres a preliminary <br />reservation of Tax Credits for Phase -1 (with Developer entitled to apply for Tax Credits for <br />four consecutive rounds), or March 31, 2013 ;`Phase -1 Outside Closing Date "), b the earlier <br />to occur of i one hundred fifty days after Developer receives a preliminary reservation of Tax <br />Credits for Phase R-2 (with Developer entitled to apply for Tax Credits for four consecutive <br />round or March 3 1, 2014 ` ;Fhasa R-2 0 uiside Cl osin g Dat " , and Janu ary 3 1, 20 11 for the <br />first Closing with respect to Phase F "Phase FS Outside Closing Date'}) and January 31, 20129 <br />for the final Closing with respect to Phase F (the "Final Phase FS Outside Closing Date "), <br />subject to extensions due to vents offorce majeure pursuant to Section 507 provided, that, <br />no externlion of the Ph as a -1 Ou tside Cl osing Dat , the Phase R-2 Ou iside Clo sing Date or the <br />Ph ase FS Ou tside CI o sing D ate due to fo rte inajeure sh at l he longer than tw elve 1 months <br />unless such extension results from CEQA challenge), or fir) written extensions made by the <br />14 <br />Do c 14 67 141200272 -0001 <br />
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