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North American Title Company October 5, 1999 Page 3 that the correct legal description is attached to the appropriate documents. 2. You have received the Borrower's approval of your estimated settlement statement. C. Closing Actions. When the conditions precedent set forth in Sections A and B have been and remain satisfied, you shall proceed to close escrow by doing the following: 1. Record the CHFA Loan Modification Agreement and the City's Deed of Trust in the Alameda County Recorder's Office. You are authorized to record the Subordination Agreements in such order as you deem appropriate to comply with CHFA's and the City's escrow instructions for title insurance. 2. Deliver to the Borrower the net proceeds of the City's Loan held by you after payment of (a) the amounts required by CHFA for the CHFA loan modification, (b) all escrow and title fees, (c) $3,000.00 to the undersigned for the Borrower's legal fees, and (d) $88,000.00 to Eden Housing, Inc. for the Borrower's consulting fees, all as shown on your estimated settlement statement to be approved by the Borrower. 3. Within ten (10) days after the closing, deliver the following items to the undersigned on behalf of the Borrower: a. Three copies of CHFA's and the City's title policies; b. Three certified copies of CHFA's Loan Modification Agreement, the City's Deed of Trust and all other documents recorded as part of this escrow (including, MBIA's Assignment of its interest in the CHFA Deed of Trust to CHFA, CHFA's Substitution of Trustee and Deed of Full Reconveyance for exception no. 11 of the Preliminary Report, and all Subordination Agreements). c. Three copies of the City's Promissory Note; and d. Three copies of all other documents deposited into escrow, including your final settlement statement. D. General Instructions. 1. These escrow instructions may be amended or revoked at any time. 2. All title and escrow fees and charges in connection with this escrow shall be paid by the Borrower. The undersigned