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A. A Warranty Deed conveying the Lot or Lots purchased to Buyer, free and <br />clear of all liens, charges and encumbrances, except for Permitted <br />Exceptions as defined in Section 6 below. <br />B. All other documents which are necessary or desirable to convey the Lots <br />being purchased, including all documents required by Chicago Title <br />Insurance Company or any other title insurance in form acceptable to <br />Buyer and Buyer's Lender, if any. <br />The closing and delivery of all such documents shall take place at the office of <br />Chicago Title Insurance Company or at such other place as may be reasonably <br />specified by Buyer or its Successor or Assigns. Seller agrees to deliver possession <br />of the Lot or Lots purchased to Buyer on the Closing Date. <br />Buyer may terminate Purchase Agreement prior to closing of any identified <br />Lot if any of the following conditions apply: <br />A. A Phase I Environmental Survey conducted at Buyer's expense identifies <br />conditions making the site unacceptable for an Early Childhood and <br />Family Education Facility or general public/civic facility. <br />B. The Stillwater Area School District fails to secure approval from the State <br />of Minnesota for placement of an Early Childhood and Family Education <br />Facility on the site or fails to secure appropriate financing to construct <br />such facility. <br />C. The Buyer, or its Successor or Assigns, fails to acquire necessary zoning <br />and land use authority for construction of such facility or fails to secure <br />appropriate financing to execute this Agreement. <br />Buyer shall forfeit to Seller initial Option Fee should such termination occurs <br />prior to closing. <br />6. TITLE AND EXAMINATION: As quickly as reasonably possible after Final Acceptance <br />of this Purchase Agreement: <br />N <br />