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date on which the City has approved this Agreement, and the Escrow Agent is hereby <br />authorized to pay the same to Seller upon and after: <br />(a) Conveyance of said real property by Seller to City as hereinabove provided; <br />(b) Acceptance by City of a Grant Deed conveying said real property to City; <br />(c) Delivery to City of the policy of title insurance as hereinabove provided; <br />(d) Recordation of the Deed conveying said real property to City. <br />7. Possession. Seller agrees to deliver to City, on the date the Deed conveying said real <br />property to City is recorded, quiet and peaceful possession of said real property, which shall be <br />made free by Seller of all personal property. <br />8. Rental and Occupancy By Seller. Seller agrees to execute a complete, current and <br />correct statement of rentals (Seller Estoppel) on a form furnished to Seller by Buyer and deliver <br />same to Buyer within fifteen (15) days hereof with copies of any written leases or rental <br />agreements attached. All rents will be prorated as of the close of escrow on the basis of a 30- <br />day month /360 -day 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 which may be <br />vacated by present occupants prior to close of escrow. Seller agrees that any and all Tenant <br />Security Deposits pertaining to the subject property collected by or in the possession of Seller <br />prior to the close of 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 terms of all rental <br />agreements, tenancies, and leases (written, unwritten, recorded, or unrecorded) and Seller <br />agrees to hold Buyer harmless from all liability from any such leases or agreements. Seller also <br />warrants that there are no oral or written leases on all or any portion of the subject property <br />exceeding a period of one month. <br />9. Waivers. The waiver by City of any breach of any covenant or agreement herein <br />contained on the part of Seller shall not be deemed or held to be a waiver of any subsequent or <br />other breach of said covenant or agreement nor a waiver of any breach of any other covenants <br />or agreements contained herein. <br />10. Heirs, Assigns, Successors in Interest. This Agreement, and all the terms, <br />covenants and conditions hereof, shall apply to and bind the heirs, executors, administrators, <br />successors and assigns of the respective parties hereto. <br />11. Time is of the Essence. In all matters and things hereunder to be done and in all <br />payments hereunder to be made, time is and shall be of the essence. <br />12. Permission to Enter on Premises. Seller hereby grants City, and its authorized <br />agents, permission to enter upon said real property at all reasonable times prior to close of <br />escrow for the purpose of making necessary inspections. <br />13. Just Compensation. Seller acknowledges and agrees that said purchase price is just <br />compensation at fair market value for said real property and includes payment for fixtures & <br />equipment (improvements pertaining to the realty), goodwill (if any), and severance damages <br />25C -6 <br />