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Fair Market Value of the Subject Property.. City agrees to deposit said purchase price in escrow with the <br />Escrow Agent within THIRTY (30) days from and after the date on which the City has approved this <br />Agreement, and the Escrow Agent is hereby 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 property <br />to City is recorded, quiet and peaceful possession of said real property, which shall be made free by <br />Seller of all personal property. <br />a. No later than three (3) days after close of escrow, Seller shall have removed all <br />merchandise, inventory, equipment, personal property, and /or removable trade fixtures <br />from the Property. Any merchandise, inventory, equipment, personal property, and /or <br />removable trade fixtures at the Property as of three days after close of escrow shall be <br />deemed abandoned by Seller on that date. <br />b. If Seller does not vacate the Property by the above stated date, the Seller agrees to have <br />the Court immediately issue a Writ of Possession and /or Assistance, directing the <br />Marshall or Sheriff of Orange County to take physical possession of the Property in favor <br />of the City. Seller waives the right to have the City file an unlawful detainer action, as well <br />as waive the right to any hearing or any requirements for an application by City to obtain <br />the Writ of Possession and /or Assistance and waives any and all rights to object to the <br />issuance of said Writ if Seller does not vacate the Property by three (3) days after close of <br />escrow. <br />8. Rental and Occupancy By Seller. Seller agrees to execute a complete, current and correct <br />statement of rentals (Seller Estoppel) on a form furnished to Seller by City and deliver same to City <br />within fifteen (15) days hereof with copies of any written leases or rental agreements attached. All rents <br />will be prorated as of the close of escrow on the basis of a 30 -day month /365 -day year consistent with <br />that statement, subject to approval of City. Seller hereby agrees not to rent any units on the premises <br />which are vacant as of the date that this agreement is executed by seller, or which may be vacated by <br />present occupants prior to close of escrow. In return, the City agrees to reimburse seller lost rentals <br />incurred by keeping units vacant through the 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 prior to the <br />close of escrow shall be transferred to and become the property of City during 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 agrees to <br />hold City harmless from all liability from any such leases or agreements. Seller also warrants that there <br />are no oral or written leases on all or any portion of the subject property exceeding a period of one <br />month. <br />9. Waivers. The waiver by City of any breach of any covenant or agreement herein contained on <br />the part of the Seller shall not be deemed or held to be a waiver of any subsequent or other breach of <br />said covenant or agreement nor a waiver of any breach of any other covenants or agreements contained <br />herein. <br />10. Heirs, Assigns, Successors -in- Interest. This PSA, and all the terms, covenants and conditions <br />