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<br />Seller shall provide Buyer with all lien waivers in connection with the construction of the <br />improvements to the Property. <br />10. Permits and/or Licenses. Seller shall be responsible for securing all <br />necessary permits and/or licenses required to construct the improvements on the Property <br />and Seller shall be solely responsible for payment of costs associated in securing such <br />permits and/or licenses. <br />11. Inspection and Approval of Improvements to PrQperty. Seller agrees to <br />complete all improvements to the Property pursuant to the satisfaction and approval of <br />the Buyer. Seller understands that all improvements are subject to inspection and <br />approval by the City Building Inspector and must comply with all city, state and federal <br />building rules and regulations. Seller agrees that all goods and materials used to <br />complete the improvements to the Property shall be new. <br />12. Completion of lJ:Jtprovements to Property. Seller agrees that all <br />improvements to the Property as set forth in Section 9 of this Agreement shall be <br />completed no later than November I, 2007. No extension of time shall be allowed unless <br />agreed upon in writing between the Parties. If all improvements are not completed by <br />this date, the Buyer, at its discretion, can arrange for the remainder of the improvements <br />to be completed by independently selected contractors and the costs for the completion of <br />the remaining improvements will be deducted from. any amounts owed the Seller at the <br />time of Closing. Seller agrees to provide a two year structural warranty and a one year <br />mechanical and electrical warranty for the improvements on the Property. <br /> <br />7 <br /> <br />$- <br />