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make such grant proceeds available to Developer to the extent the City is successful in grant applicatio�s. Tl�e Deveio er will enter into an su lerraental a reements that are rea anabl re uired in orcier to disburse and administer _rant roceeds. � Noiwithstanding a»ything._ta �he, corrtr,ary ,herezn, Developer shall not be obli.g�ted to, pay more than. $50 000 to ca out En�ironmental Res onse Actions labove and beyond the amount of anY �ra�tsl. If Devetooer deterrnines that the total cost of Environmental Response Actions exceeds or is_.expected to exceed 50 000 l� t�e amount of all grants anproved pzior to Clasin�. t_hen Develaner shall �rovide written notice to Ci. to ether with reasonable evidence of.the costs. Within 60. days after receipt�of such notice, ihe.Citv will either (in its sole dascretionl: i Provide wriiten notice to DeveIo _er that the Ci will deeline to acee t conve anee of the Trian Ie Parcel. In that eveni b no ]ater.than June 29 2012 Develo e�al�l} demolish the existing buildin2 on the Triangle Parcel clear the site of rubble and debris, and seed the�roperiv: !21 deliver to _ -- --- the C_it�_ an executed instrument in recordab�e form that limits use of the Trian�ie Pareel, to open soace i� e�r etuity sub�ect to an time limitatians under State ]awl. such instrurnent bein in the form of either a restricti�e covenant or a conservatian easement..�as directed bv #he Ci afld (31 have no further obli�ation to carry out Environmental Respa�sE Actions exce�t ta the extent otherwi.se required by_ law: or mm �� (ii�__ Provide written notice to Develo�er that„ Ci .ry will proceed to Clos�ng,, In that event. Develoner shall remain obl� a#ed to carry out Environme�tal Resoonse Actions rior to Closin.g, and to �ay�up to 50 OUO of such�costs above and be._Qnd the amou�t of an _�available rants�- the Cit shal� assume res�ansibilitv for an�ional _eosts. and will na�r reimburse Develo�er for such excess on ar befpre Closin� � (e} Closing. The City's obIigation to close on acquisition of the Triangie Parcel is con#ir�gent upon (i) the City ha�ing found titte accepta6le in accordance with paragraph (b} of this Section, (ii} the City ha�ing determined, in its sole discretian, that it is satis�ed wit� conditions of the TrEangle i'arcel, incl�de without limitation environmentai conditions; and (iii) Developer havi�g demolished the existing building an the Triangle Parcet, cleared the site of al] rubble and debris, remo�ed any underground tanks and removed or remediated any hazardot�s substances in accordance with paragraph (d} af this Sectior�, and seeded the property. The closing on conveyance of the Triangle Parcel shall occur on the later of ten business days after satisfaction of atl contingencies, or June 29, 2012 (the "Closing"). At closing, Developer s}aa�I deliver to City a warranty deed to tl�e Triangle ParceI. (� Developer Representations. The Developer hereby represents and warrants ta the City as fo�lows: (i) En�ironmental _Com Iip .ance. Developer has receivec� no notice af and is r�ot aware of any violation related to the Triangle Paccel of app}icable law, statute, ordinance, rule, regulation, order or determination of any governmental aathority with respect to hazardous subsiances or of d�e presence of hazardous substances in or on the Triangle Parcet, except as disclosed in any of the Environmental Reports. For purposes hereof "�azardous substances" means any substance designaied pursuant to the Clean Water Act, Titte 33 U.S.C. Section 1321, a��y e�ement, compound, mixture, solutior� or s�bstance desig�ated p�rsuant to the Comprehensive En�iror�mental Response, Compensation and Liability Act, Title 42 U.S.C. SecEion 9602, any hazardo�zs waste having #he characteristics identi�ed under or ]isted pursuant to the SoGd Waste Disposal Act, Title 42, U.S.C. Sec#ion 692I, any toxic pollutant listecf under Section 307(a} of the Clean Water Act, Title 33 U.S.C. Section ]3I7(a}, any hazardous air pollutant listed under Section l 12 of the Clean Air Act, Titie 342 U.S.C. Section 7412, any imrnine�tly hazardous chemical substance ar 3nixture with respect ta which the Administrator of E