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<br />. <br /> <br />. <br /> <br />. <br /> <br />paragraph 8 hereof is hereby expressly conditioned upon Purchaser receiving <br />assurances satisfactory to Purchaser, in Purchaser's sole discretion, that; <br /> <br />11.1 Accuracy of Representations and Warranties. The representations and <br />warranties of Seller contained in this Agreement shall be true in all <br />material respects on and as of the Closing Date with the same force and <br />effect as though made on and as of the Closing Date (i.e., a <br />representation that a state of facts exists on or as of the date hereof <br />shall be deemed to be a representation that such state of fact exists on <br />or as of the Closing Date, and a representation that a state of facts has <br />or has not changed between a date prior to the date hereof and the <br />date hereof shall be deemed to be a representation that such state of <br />facts has or has not changed between such prior date and the Closing <br />Date), except as affected by transactions contemplated hereby and <br />except to the extent that any such representations or warranties which <br />were made as of a specified date shall have been true on and as of such <br />date. <br /> <br />11.2 Performance of Agreement. Seller has performed all obligations and <br />agreements and conditions contained in this Agreement on Seller's part <br />to be performed or complied with at or prior to the Closing Date. <br /> <br />11 .3 Development Permits. Adoption of appropriate resolutions and issuance <br />of development permits which allow the Real Property to be developed <br />for a condominium-style office project; provided that nothing herein <br />shall obligate the Seller to issue development permits unless the <br />Purchaser's development application complies with Seller's <br />development regulations. <br /> <br />11.4 Park Dedication Fee. The park dedication fee for the condominium- <br />style office project shall be $40,000.00. If the nature of the project <br />changes, the City reserves the right to recalculate the park dedication <br />fee required for the revised project. The park dedication fee is due and <br />payable at the time of filing of the final plat. <br /> <br />If the contingencies set forth in this paragraph 11 are not satisfied, Purchaser <br />shall have the right to terminate this Agreement by giving written notice of <br />termination to Seller on or before the Closing Date. In the event that Purchaser gives <br />Seller any such written notice of termination, this Agreement shall be null and void, <br />Seller shall refund the Earnest Money, and neither party shall have any further rights, <br />obligations, or liability hereunder. <br /> <br />5 <br />