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<br />(ii) Representations and Warranties by Seller. The representations and <br />warranties of Seller contained in this Agreement must be true now and on the <br />Closing Date as if made on the Closing Date. <br /> <br />(iii) Title. Buyer must be able to obtain the Title Policy (as that term is <br />defined herein) in accordance with the requirements and terms of Section 5.C. <br />below. <br /> <br />(iv) Performance of Seller's Obligations. Seller has performed all of the <br />obligations required to be performed by Seller under this Agreement, as and when <br />required by this Agreement. <br /> <br />(v) Approvals (and the lapsing of any rights of appeal). <br />adoption of resolutions granting the Approvals, in form acceptable to the Buyer, in <br />its sole discretion. <br /> <br />(vi) Construction Loan Financing. <br />construction loan have been met, including a market appraisal satisfactory to <br /> <br /> <br />(vii) Closing Documents. <br />Section 6.A. in form reasonably acceptable to Buyer and the Title Company. <br /> <br />(viii) Conditions. There exists no material change in the environmental or <br />physical condition of the Real Property between the Condition Date and the <br />Closing. <br /> <br />(ix) Zoning. The Real Property is currently zoned Mixed Use District M-1, <br />under which classification the project described in Section 5.A hereof is a permitted <br />use. <br /> <br />(x) Community Development Block Grants. Seller used funds from <br />Community Development Block Grants to improve the Real Property. These <br />Grants created conditions that run with the land and will bind future owners. Buyer <br />is required to obey these conditions as set forth in the Grant documents. Buyer <br />agrees and shall conform to all requirements of the Grants as if it were the Seller, <br />and in the event that Buyer does not honor these obligations, Buyer agrees to allow <br />Seller to take any action it deems necessary to conform to the Grants obligations. <br />Buyer and Seller agree to transfer the obligations and conditions set forth in this <br />subparagraph into a future Developers Agreement between the parties. <br /> <br />(xi) Memorandum Of Understanding. The parties previously executed a <br />Memorandum of Understanding, and the Buyer submitted to Seller a Response <br />to RFP for Block 7 Redevelopment, the terms and conditions of those documents <br />are incorporated into this Agreement by reference. Buyer and Seller agree to <br />transfer the obligations and conditions set forth in this subparagraph into a future <br />Developers Agreement between the parties, the execution of which by both parties <br />hereby. <br /> <br /> <br />6 <br /> <br />