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Until the Closing, the Developer shall, upon learning of any fact or condition <br />which would cause any of the warranties and representations in this Section 205.2 not to be true <br />as of Closing, immediately give written notice of such fact or condition to the Agency. Such <br />exception(s) to a representation shall not be deemed a breach by the Developer hereunder, but <br />shall constitute an exception which the Agency shall have a right to approve or disapprove if <br />such exception would have an effect on the value and/or operation of the Site. If the Agency <br />elects to close Escrow following disclosure of such information, the Developer's representations <br />and warranties contained herein shall be deemed to have been made as of the Closing, subject to <br />such exception(s). If, following the disclosure of such information, the Agency elects to not <br />close Escrow, then this Agreement and the Escrow shall automatically terminate and neither <br />party shall have any further rights, obligations or liabilities hereunder. The representations and <br />warranties set forth in this Section 205.2 shall survive the Closing. <br />206. Condition of the Site. <br />206.1 Investigation of Site. Prior to the execution of this Agreement, Agency <br />has caused a "Phase 1" investigation of the Environmental Condition of the Site which was <br />undertaken by Converse Consultants, identified as: <br />(i} CONVERSE PROJECT NO. 10-42-118-01 <br />612,614,622, AND 626-628 EAST SANTA ANA BOULEVARD <br />604,606,614-618,620 AND 622 NORTH LACY STREET <br />601-603, 609, 613, and 617 EAST 6TH STREET <br />709 AND 711 EAST 6TH STREET <br />609 AND 611 NORTH MINTER STREET (Block 1) <br />SANTA ANA, CALIFORNIA <br />(ii) CONVERSE PROJECT NO. 10-42-118-02 <br />601, 605-607, 609, 611 NORTH LACEY STREET <br />80I BROWN STREET (Block 2) <br />SANTA ANA, CALIFORNIA <br />(iii) CONVERSE PROJECT NO. 10-42-118-08 <br />501, 505, AND 511 EAST 5TH STREET <br />501 '/2 - 507 MORTIMER STREET (Block A) <br />SANTA ANA, CALIFORNIA <br />(iv) CONVERSE PROJECT NO. 10-42-118-09 <br />606, 610-612, 616, AND 620 EAST 5TH STREET (Block B) <br />SANTA ANA, CALIFORNIA <br />(v) CONVERSE PROJECT NO. 10-42-118-10 <br />712 EAST 5TH STREET (Block E) <br />SANTA ANA, CALIFORNIA <br />("Agency Environmental Site Assessment"), with the cost of such investigation being borne by <br />the Agency. Agency represents and warrants that Developer has been provided a copy of all <br />reports and test results produced in connection with the environmental investigation of the Site <br />22 <br />DOCSOC/1400673v 14/200272-0001