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<br />'. <br /> <br />after the date on which the City has approved this PSA, and the Escrow Agent is hereby <br />authorized to pay the same to Seller upon and after: <br /> <br />(a) City obtaining an appraisal report supporting the Property value of at least $485,000, <br />(b) Conveyance of Said Real Property by Seller to City as hereinabove provided; <br />(c) Acceptance by City of a Grant Deed conveying Said Real Property to City; <br />(d) Delivery to City of the policy of title insurance as hereinabove required; <br />(e) Recordation of the Deed conveying Said Real Property to City. <br /> <br />7. Possession. Seller agrees to deliver to City, on the date the Deed conveying <br />Said Real Property to City is recorded, quiet and peaceful possession of Said Real <br />Property, which shall be made free by Seller of all personal property. <br /> <br />8. Rental and OccuDancv bv Seller. Seller agrees to execute a complete, current <br />and correct statement of rentals (Seller Estoppels) on a form furnished to Seller by <br />Buyer and to deliver same to Buyer within fifteen (15) days hereof with copies of any <br />written leases or rental agreements attached. All rents will be prorated as of the close of <br />escrow on the basis of a 30- day month I 360-day year consistent with that statement, <br />subject to approval of Buyer. Seller hereby agrees not to rent any units on the premises <br />which are now vacant, or which may be vacated by the present occupants prior to close <br />of escrow. Seller agrees that any and all tenant security deposits pertaining to the subject <br />property collected by or that are in the possession of Seller prior to the close of escrow <br />shall be transferred to and become the property of Buyer during escrow. <br /> <br />Seller hereby warrants that the rental statement referred to shall include the terms of all <br />rental agreements, tenancies, and leases (oral or written, recorded, or unrecorded) and <br />Seller agrees to hold Buyer harmless from all liability from any such leases or <br />agreements. Seller also warrants that there are no oral or written leases on all or any <br />portion of the subject property exceeding a period of one month. <br /> <br />9. Waivers. The waiver by City of any breach of any covenanl or agreement herein <br />contained on the part of Seller shall not be deemed or held to be a waiver of any <br />subsequent or other breach of said covenant or agreement nor a waiver of any breach of <br />any other covenants or agreements contained herein. <br /> <br />Page 4 of 11 <br /> <br />r ~/{'"'.- <br />Seller's InitialS~ <br />