upr000098 42

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 \ Section 7. Except as hereinafter stated, the said land and other properties referred to in Section 1 of this agreement shall be conveyed to the District through an escrow to be opened with the FIRST NATIONAL BANK OF NEVADA, of Las Vegas, Nevada, not later than the time when the District shall have sold duly author­ized bonds sufficient to enable the District to purchase the prop­erties referred to in Section 1 of this agreement and to establish a Relocation Fund pursuant to Section 5 of this agreement. Within thirty (30) days after the District shall have received the proceeds; from the sale of said bonds (1) The District shall deposit in said escrow not less than the purchase price of the properties referred to in Section 1 hereof, plus the amount required for the establishment of a Reloca­tion Fund pursuant to the provisions of Section 5 hereof) and (2) The First Parties shall cause to be deposited in said escrow all documents required to transfer, assign or convey to the District the properties referred to in Section I hereof. Said escrow Instructions shall provide that the said Es­crow Agent shall pay to First Parties, or such party as they shall designate, the purchase price of the properties referred to in Sec­tion 1 hereof when* (a) Said Escrow Agent has received notice from the parties hereto that First Parties have delivered to the District outside of escrow all of the property referred to in subparagraph (m) of Section 1, (b) Said Escrow Agent shall deliver to the District 30.