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date on which the City has approved this Agreement, and the Escrow Agent is hereby authorized to pay said purchase pnce to Seller only after or concurrent with the satisfaction of the following conditions precedent: (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 provided; (d) Recordation of the Grant Deed conveying Said Real Property to City. 7. Possession. Seller agrees to deliver to City, on the date the Grant 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 property. 8. Waivers. The waiver by Cily 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. 9. Heirs. Assi2ns, Successors-in-Interest. This Agreement, and all the terms, covenants and conditions herein, shall apply to and bind the heirs, executors, administrators, successors and assigns of the respective parties hereto. 10. Time is of the Essence. In all matters and things hereunder to be done and in all payments hereunder to be made, time is and shall be of the essence. II. Permission to Enter on Premises. Seller hereby grants City, and its authorized agents, permission to enter upon Said Real Property at all reasonable times prior to close of escrow for the purpose of making necessary inspections. 12. Just Compensation. Seller acknowledges and agrees that said purchase price is just compensation at fair market value for Said Real Property and includes payment for fixtures & equipment, improvements pertaining to the realty, severance damages, bonus value (if applicable), for the easements herein described, and for any and all other damages which Seller might now or in the future be entitled to. 13. Notices. The mailing address of the City of Santa Ana is 20 Civic Center Plaza, M-36, P.O. Box 1988, in the city of Santa Ana 92702, County of Orange, State of California. The mailing address of the Seller is: Richard C. Murray Senior Vice President U.S. Trust, Bank of America Private Wealth Management 515 South Flower Street Suite 2700 Los Angeles, CA 90071 Phone: (213) 861-5065 Fax: (800) 976-1298 Email: richard.murray@ustrust.com 14. Exceptions. City agrees to accept title to Said Real Property subject to the following: NONE Page 3 of 12 Seller's lnitials j2.c. 'J11 25F-6