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`v -,., <br /> V <br /> CONDITION OF TITLE <br /> Lessor shall furnish to Lessee a standard California <br /> Land Title Association policy insuring title in Lessee, <br /> subject only to encumbrances, easements , restrictions, <br /> rights, and conditions of record. If Lessor fails to <br /> deliver title as herein provided, Lessee, at his option, <br /> may terminate this Agreement. It is expressly understood <br /> and agreed that the title to said property shall be free <br /> of all liens and encumbrances, except those for current <br /> taxes and assessments . The cost of said policy of title <br /> insurance shall be paid equally by Lessor and Lessee. In <br /> the event Lessee desires an American Land Title <br /> Association policy, then the extra cost shall be borne <br /> solely by Lessee. <br /> VI <br /> PRORATIONS <br /> Property taxes and other assessments shall be prorated <br /> as of the date of the close of escrow. There shall be no <br /> proration of premiums on insurance and rents, if any, <br /> shall not be prorated, but shall remain the property of <br /> Lessor, The amount of any bond or assessment which is a <br /> lien shall be paid by Lessor. Lessor and Lessee shall <br /> equally pay the cost of transfer stamps on the deed. <br /> VII <br /> ESCROW INSTRUCTIONS <br /> Escrow instructions signed by Lessor and Lessee shall <br /> be delivered to the escrow holder within thirty ( 30 ) days <br /> from the end of Lessee' s applicable Lease term, and said <br /> escrow instructions shall provide for closing within the <br /> aforesaid ninety ( 90 ) days from the end of the applicable <br /> Lease term, subject to written extensions signed by both <br /> Lessor and Lessee. All remaining costs of escrow and <br /> attorney' s fees, if any, shall be divided equally between <br /> Lessor and Lessee. <br /> VIII <br /> ASSIGNMENT <br /> Lessee shall have the right to vest title as he <br /> -8- <br />