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8. Rental and Occupancy By Seller. Seller agrees to execute a complete, <br />current and correct statement of rentals (Seller Estoppel) on a form furnished to <br />Seller by Buyer and deliver same to Buyer within fifteen (15) days hereof with <br />copies of any written leases or rental agreements attached. All rents will be <br />prorated as of the close of escrow on the basis of a 30 -day month /360 -day <br />year consistent with that statement, subject to approval of Buyer. Seller <br />hereby agrees not to rent any units on the premises which are now vacant, or <br />which may be vacated by present occupants prior to close of escrow. Seller <br />agrees that any and all Tenant Security Deposits pertaining to the subject <br />property collected by or in the possession of Seller prior to the close of <br />escrow shall be transferred to and become the property of Buyer during <br />escrow. <br />Seller hereby warrants that the rental statement referred to shall include the <br />terms of all rental agreements, tenancies, and leases (written, unwritten, <br />recorded, or unrecorded) and Seller agrees to hold Buyer harmless from all <br />liability from any such leases or agreements. Seller also warrants that there are <br />no oral or written leases on all or any portion of the subject property exceeding a <br />period of one month. <br />9. Waivers. The waiver by City of any breach of any covenant or <br />agreement herein contained on the part of Seller shall not be deemed or held to <br />be a waiver of any subsequent or other breach of said covenant or agreement <br />nor a waiver of any breach of any other covenants or agreements contained <br />herein. <br />10. Heirs, Assigns, Successors in Interest. This Agreement, and all <br />the terms, covenants and conditions hereof, shall apply to and bind the heirs, <br />executors, administrators, successors and assigns of the respective parties <br />hereto. <br />11. Time is of the Essence. In all matters and things hereunder to be <br />done and in all payments hereunder to be made, time is and shall be of the <br />essence. <br />12. Permission to Enter on Premises. Seller hereby grants City, and its <br />authorized agents, permission to enter upon Said Real Property at all <br />reasonable times prior to close of escrow for the purpose of making necessary <br />inspections. <br />13. Just Compensation. Seller acknowledges and agrees that said purchase <br />price is just compensation at fair market value for Said Real Property and <br />includes payment for fixtures & equipment (improvements pertaining to the realty), <br />Bonus Value, if any, and severance damages. ". <br />Page 4 of 13 <br />Seller's Initials V-7 <br />