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RJV-184370v2 <br />MU210-48 5 <br />ARTICLE III. <br /> <br />CONVEYANCE OF PROPERTY <br /> <br /> Section 3.1 <br /> <br />(a) Sale of Parcel A to Developer. The City agrees to sell Parcel A to the Developer <br />and the Developer agrees to purchase the Parcel A from the City in “as is” <br />condition. At closing, the City agrees to convey Parcel A to the Developer by <br />Quit Claim Deed in the general form of Exhibit D. <br /> <br />(b) Sale of Parcel B to City. The Developer agrees to sell the Parcel B to the City and <br />the City agrees to purchase the Parcel B from the Developer subject to the <br />representations and warranties contained in this Agreement. At closing, the <br />Developer agrees to convey the Parcel B to the City by Quit Claim Deed in the <br />general form of Exhibit D. <br /> <br />Section 3.2. Closing. Closing on the Properties will take place on or before <br />____________, 2000 or such other date as may be agreed to by the parties in writing. <br /> <br /> Section 3.3. Recording Fees. The Developer shall be solely responsible for the cost of <br />any and all state deed or transfer taxes, agricultural land fees, and recording fees. The Developer <br />shall promptly record all transfer documents including, but not limited to, the Quit Claim Deeds <br />conveying Parcels A and B and the Certificate of Completion. <br /> <br /> Section 3.4. Taxes and Special Assessments. Real estate taxes payable in the year of <br />closing will be paid by the Developer as of the date of closing. Levied and pending special <br />assessments for improvements installed prior to the date of this Agreement, if any, will be <br />satisfied by the Developer at the time of closing and the Properties will be transferred and <br />exchanged free and clear thereof. <br /> <br />Section 3.5. <br /> <br />(a) Soil Conditions and Hazardous Wastes—Parcel A. The Developer acknowledges <br />that the City makes no representations or warranties as to the condition of the soils <br />on Parcel A, its fitness for construction of the Improvements or any other purpose <br />for which the Developer may make use of Parcel A, or regarding the presence of <br />any pollutant, contaminant or hazardous wastes on Parcel A. The City will allow <br />reasonable access to Parcel A for the Developer to conduct such tests regarding <br />soils conditions and to investigate the presence of pollutants, contaminations or <br />hazardous wastes as the Developer may desire. The Developer may terminate this <br />Agreement upon a determination the soils are inadequate for the Developer’s <br />intended purpose or that there is an unacceptable level of pollutants, contaminants <br />or hazardous materials on Parcel A by giving notice of such termination within 10 <br />days of the date of this Agreement. Failure to give such notice by such date shall <br />constitute a waiver of Developer’s right to terminate this Agreement pursuant to <br />this Section 3.5. Permission to enter Parcel A to conduct such tests must be given