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Transfer Lot free and clear of any liens arising out of any work performed on City's behalf under <br /> this Section. <br /> 1.6 Prorations. Prorations between Rinker and City shall be calculated as of <br /> 12:01 a.m. on the respective Transfer date, as if City were vested with title to the Transfer Lot(s) <br /> during the entire day of the Transfer Date,based on the actual number of days in the month in <br /> which the Close of Escrow occurs and a three hundred sixty-five (365) day year. All <br /> nondelinquent real property taxes, assessments and other items of expense concerning the <br /> Transfer Lot(s), if any, shall be prorated between Rinker and City as of 12:01 a.m. on the date of <br /> the Close of Escrow. Rinker shall pay for the title insurance policy and the costs of recording the <br /> deeds. The parties shall each pay one-half of any escrow fees. <br /> 1.7 Title Insurance. <br /> (a) City's Policy. On each respective Transfer Date,Rinker shall cause <br /> Pacific Northwest Title Insurance Company("Title Company") to issue to City at Rinker's <br /> expense, an ALTA Extended Coverage Owner's Policy of Title Insurance (1970 Form B with <br /> 1984 amendments) ("Owner's Title Policy"), insuring good and marketable fee simple title in <br /> City to Lot 45-A, Lot 45-B, Lot 45-C, Lot 45-D and Lot 45-E as applicable, against any loss or <br /> damage by reason of defect in Rinker's title to such Transfer Lot, other than the Permitted <br /> Exceptions determined in accordance with this.Section. <br /> (b) Title and Survey Review. At least fifty-two (52) days prior to an <br /> anticipated transfer date for a respective Lot,Rinker shall cause Title Company to provide City <br /> with a preliminary commitment for the Owner's Title Policy dated on or after the Effective Date <br /> ("Title Commitment"), together with complete copies of any exceptions identified in Schedule B <br /> 2004 Revised Development Agreement <br /> 11 <br /> 8/23/2005 <br />