2019.04.03 EDC Packet - Laserfiche WebLink

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18 (1) The Redeveloper shall be in material compliance with all of the terms and provisions of this Agreement; (2) The Redeveloper shall have paid the Purchase Price; and (3) Each of the Redeveloper’s representations and warranties set forth in Section 2.2 shall be true as of the Closing Date. (b) The obligation of the Redeveloper to purchase the Redevelopment Property at Closing shall be subject to the following conditions precedent as applicable: (1) The City shall be in material compliance with all of the terms and provisions of this Agreement; (2) Each of the City’s representations and warranties set forth in Section 2.1 shall be true as of the Closing Date; and (3) No interim ordinance with respect to issuance of building permits for the Minimum Improvements shall be in effect. (c) In the event the conditions precedent for either party cannot be satisfied by the Date of Closing, then this Agreement shall terminate and all earnest money paid by Redeveloper shall be returned to Redeveloper. Section 4.3. Documents at the Closing. (a) At Closing, the City shall deliver to the Redeveloper: (1) An executed Redevelopment Property Deed, (2) All certificates, instruments and other documents necessary to permit the recording of the applicable Redevelopment Property Deed, (3) A standard Seller’s Affidavit with respect to judgments, bankruptcies, tax liens, mechanics liens, parties in possession, unrecorded interests, encroachment or boundary line questions and related matters, (4) If applicable, the owner’s duplicate certificate of title (the City need not provide an abstract of title if the property is classified as abstract property), and (5) An affidavit that the City is not a “foreign person” within the meaning of Section 1445 of the Internal Revenue Code.