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– 3 – February 8, 2018 <br /> <br />feet with no building in the south area exceeding 6,000 square feet as <br />set forth on Exhibit A. There shall also be restrictions in the Urban <br />Block that give the grocer an exclusive use. <br /> <br />Access: Seller shall grant Buyer and Buyer’s contractors reasonable access to <br />the Property during the Inspection Period for the purpose of <br />conducting all necessary Due Diligence and Property inspections. <br /> <br />Escrow Terms: The Earnest Money shall be deemed non-refundable after the <br />Inspection Period (or Extension Periods, as the case may be) and <br />Buyer’s acceptance of Title/Survey. In the event the Property, in <br />Buyer's sole discretion, is not suitable for Buyer's intended use during <br />the Inspection Period or Buyer does not obtain the approvals during the <br />Inspection Period or Extension Periods, as the case may be, the Buyer may <br />cancel the Purchase Agreement and the Earnest Money shall be <br />immediately refunded to Buyer. Notwithstanding the foregoing, the <br />Earnest money will be refundable in the event of a Seller default, <br />Seller not being able to deliver title subject only to the Permitted <br />Exceptions at the Closing, or condemnation. <br /> <br />Closing: The parties will close the transaction within 30 days after the <br />expiration of the Inspection Period or Extension Periods, as the case <br />may be, or such other date as agreed to by the parties. <br /> <br />Seller’s Title: Seller will deliver marketable fee simple title to the property at <br />closing, via Warranty Deed <br /> <br />Seller’s Warranties and <br />Reps: <br />Seller to provide customary warranties and reps. <br /> <br />Seller Documents: Upon execution of the Purchase Agreement, Seller will immediately <br />provide any and all documents pertaining to the property in their <br />possession or control which shall include but are not limited to plans <br />for the property, specifications, environmental reports, geotechnical <br />reports, Survey, tax statements, Leases, operating agreements, notices <br />from any governmental authorities, Permits, and other documentation <br />pertaining to the Property or the Legacy at Woods Edge Master <br />Development. (“Seller Documents”). <br /> <br /> <br />Taxes & Assessments: Seller and Buyer shall prorate all taxes in the year of Closing. Seller <br />will be responsible for any pending or levied special assessments at <br />closing. <br /> <br />Purchase Agreement: Buyer will prepare, at its expense, within five (5) business days of <br />Seller’s acceptance of this Letter of Intent, a draft of a Purchase <br />Agreement to be reviewed, negotiated in good faith, and executed by