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<br />and the Escrow Agent is hereby authorized to pay the same to Seller upon and after. <br /> <br />(a) Conveyance of said real property by Seller to City as hereinabove provided; <br /> <br />(b) Acceptance by City of a Grant Deed conveying said real property to City; <br /> <br />(c) Delivery to City of the policy of title insurance as hereinabove provided; <br /> <br />(d) Recordation of the Deed conveying said real property to City. <br /> <br />If the foregoing is not completed within ninety (90) days after the City has approved this <br />Agreement, Seller may, but is not obligated to, cancel this Agreement and the Purchase Price, less <br />the Deposit, if any, shall be returned to City. <br /> <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. Seller may, but shall not be required, to remove any <br />improvements or trees or plants, located on said real property prior to the closing. <br /> <br />8. Condition of Propertv. City agrees that City has performed all inspections of said real <br />property as it deems necessary and is satisfied and accepts said real property in its present <br />condition. City acknowiedges, agrees, represents and warrants that City is acquiring said real <br />property on an "AS-IS WHERE IS" basis and with all faults as of the date of recordation of the <br />Deed conveying said real property to City. <br /> <br />9. Waivers. The waiver by either party of any breach of any covenant or agreement herein <br />contained on the part of the other party shall not be deemed or heid to be a waiver of any <br />subsequent or other breach of said covenant or agreement nor a waiver of any breach of any other <br />covenants or agreements contained herein. <br /> <br />10. Heirs, AssiQns, Successors in Interest. This Agreement, and all the terms, covenants <br />and conditions hereof, shall apply to and bind the heirs, executors, administrators, successors and <br />assigns of the respective parties hereto. <br /> <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 /> <br />12.Permission to Enter on Premises. Seller hereby grants City, and its authorized agents, <br />permission to enter upon said real property, following no less than twenty-four (24) hours notice to <br />Seller, at all reasonable times prior to ciose of escrow for the purpose of making necessary <br />inspections. In accordance with, Government Code 9990, et. seq., the City acknowledges that they <br />are self-insured for liability up to $1,000,000.00 per occurrence. Specifics as follows: .01$ to $1M <br />Self insured Retention (SIR); $1M to $2M risk shared by 5 Big independent Cities Excess Pooi <br />(BiCEP) members; $2M to $1 OM reinsurance of BICEP Master Memorandum of Liability Coverage <br />by Everest Reinsurance Company; $10M to $12M excess insurance by Everest National Insurance <br />Company; $12M to $27M excess insurance by North American Specialty Insurance Company. <br /> <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 severance damages. <br /> <br />Poge 3 of27 <br />