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open market; failure of transportation; strikes (other than any strike resulting from acts of Buyer); lockouts; action of labor unions; requisition or order of government or civil or military or naval authorities; or any other similar cause to those stated above, not within Buyer's reasonable control. Notwithstanding anything to the contrary contained herein, in no event shall financial inability of Buyer constitute Permitted Delay. (b) Buyer shall obtain all final approvals, including, without limitation, the building permit and all related municipal approvals (the "Approvals") necessary for developing the Property in substantial conformance with the site plan that was included with Buyer's proposal for the Property submitted in response to City's Request for Proposal No. 19-026 (a copy of which is attached as Exhibit "C", (the "Intended Improvements") appropriate for the operation of a Duplex (the "Intended Use"), such that immediately following the acquisition of the Approvals, Buyer shall be entitled to commence construction of the Intended Improvements. Nothing in this agreement shall constitute Approvals by Seller, and Buyer acknowledges that it must comply with all of Seller's development standards, guidelines and procedures that are applicable to the Intended Improvements and the Intended Use. (c) The execution and delivery of the Agreement by Buyer, Buyer's performance hereunder, and the consummation of the transaction contemplated hereby will not constitute a violation of any order or decree or result in the breach of any contract or agreement to which Buyer is at present a party or by which Buyer is bound; and (d) No other action by Buyer is requisite to the valid and binding execution, delivery and performance of this Agreement, except as otherwise expressly set forth herein. 4. REMEDIES If Seller defaults under this Agreement, then Buyer may either: (i) terminate this Agreement by written notice to Seller, whereupon the Escrow Deposit (less the Independent Consideration) shall be immediately returned by the Escrow Holder to Buyer, and this Agreement and the obligations of the parties hereunder shall terminate (other than those obligations that expressly survive a termination of this Agreement); or (ii) bring an action for specific performance of this Agreement. If Buyer defaults under this Agreement, and such default is not cured within thirty (30) days following the date of Seller's written notice of default to Buyer, then Seller may, as Seller's sole and exclusive remedy under this Agreement by reason of such default, terminate this Agreement by written notice to Buyer, whereupon the obligations of the parties hereunder shall terminate (other than those obligations that expressly survive a termination of this Agreement) and the Escrow Deposit shall be delivered to Seller as full compensation and liquidated damages under and in connection with this Agreement, and in such event, Buyer shall not be liable to Seller for monetary damages except for full payment of the amount of the Escrow Deposit due at the time of termination and forfeiture of said Escrow Deposit to the Seller. Under no circumstances shall Buyer be entitled to a refund of the Proposal Deposit, which shall be retained by Seller. 7