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6. Payment of Purchase Price. City agrees to pay to Seller, and Seller agrees to accept from City, as and for the full purchase price for Said Real Property, including improvements to Said Real Property, business goodwill (if any), fixtures, equipment and improvements to the realty, severance damages (if any), bonus value, and any and all other damages or compensation to which Seller is or could be entitled to as a result of City's acquisition of Said Real Property, the total sum of ONE MILLION ONE HUNDRED TWENTY THOUSAND AND NO/100 DOLLARS ($1,120,000.00). City agrees to deposit said purchase price in escrow with the Escrow Agent within THIRTY (30) days after the date on which City has approved this PSA, and the Escrow Agent is hereby authorized to pay the same to Seller upon and after: (a) Conveyance of Said Real Property by Seller to City as hereinabove provided; (b) Acceptance by City of a Grant Deed conveying Said Real Property to City; {c) Delivery to City of the policy of title insurance as hereinabove required; (d) Recordation of the Deed conveying Said Real Property to City. 7. Possession. Seller agrees to deliver to City, on the date the Deed conveying Said Real Property to City is recorded, quiet and peaceful possession of Said Real Property, which shall be made free by Seller of all personal property. 8. Rental and Oceunancy By Seller. Seller agrees to execute a complete, current and correct statement of rentals (Estoppel Certificate) on a form furnished to Seller by Buyer, and shall deliver same to Buyer within fifteen (15) days hereof with copies of any written leases or rental agreements attached thereto. All rents will be prorated as of the close of escrow on the basis of a 30-day month/360-day year consistent with that statement, subject to approval of Buyer. Seller hereby agrees not to rent any units on the premises which are now vacant, or which may be vacated by present occupants prior to close of escrow. Any and all Tenant Security Deposits pertaining to the subject property collected by or in the possession of Seller prior to the close of escrow shall be transferred to and become the property of Buyer during escrow. Seller hereby warrants that the statement of rentals referred in this paragraph shall include the terms of all rental agreements, tenancies, and leases (whether oral or written, recorded, or unrecorded) and Seller agrees to hold Buyer harmless from all liability from any such leases or agreements. Seller also warrants that there are no oral or written leases on all or any portion of property exceeding a period of one month. 9. Waivers. The waiver by City of any breach of any covenant or agreement herein contained on the part of Seller shall not be deemed or held to be a waiver of any subsequent or other breach of said covenant or agreement nor a waiver of any breach of any other covenants or agreements contained herein. 10. Heirs, Assigns, Successors-in-Interest. This PSA, and all the terms, covenants and conditions hereof, shall apply to and bind the heirs, executors, administrators, successors and Page 3 of 11 Seller's Initials _~~~'~---, ~ ~' 25N-6