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<br />- ----------- --- ~ ~------ ---- -- <br /> <br />The City believes that it has the legal authority to acquire the Parcels comprising the Acquisition <br />Property that are necessary to construct the Public Improvements but makes no warranties or <br />guaranties to the Developer that it will be able to do so. The Developer acknowledges that the <br />City does not warrant the successful conclusion of any eminent domain action or vacation <br />procedures or the accomplishment of any particular result or timetable because of the many <br />variables inherent in any litigation or legal proceeding. The City shall not be liable to any party <br />for any consequential or other damages that may arise out of any delays due to eminent domain <br />actions, vacation prpcedures, environmental conditions, court challenges or elements outside the <br />control of the City. Once the eminent domain action has been initiated, the City agrees to <br />diligently pursue the same to completion. <br /> <br />Section 3.6. Conveyance of Parcels. <br /> <br />(a) If the City acquires a Parcel of the Acquisition Property that is to be conveyed to <br />the Developer, the City will convey such property to the Developer, subject to the terms and <br />conditions of this Agreement. <br /> <br />(h) In consideration of the Developer's payment of the costs of acquiring the Parcel, <br />no additional payment will be required of the Developer to acquire the Parcel. <br /> <br />(c) The City shall convey title to and possession of the Parcel to the Developer .under <br />a standard quit claim deed (the "Deed") containing the reversionary clause described in Section <br />9.3 of this Agreement. The conveyance of the Parcel and the Developer's use of the Parcel shall <br />be subject to all of the conditions, covenants, restrictions and limitations imposed by this <br />Agreement and the Deed. The conveyance of title to the Parcel and the Developer's use of the <br />Parcel shall also be subject to Permitted Encumbrances and building and zoning laws and <br />ordinances and all other local, state and federal laws and regulations. <br /> <br />(d) The City's obligation to convey a Parcel, or any portion thereof, to the Developer <br />shall be subject to satisfaction of all of the following conditions precedent: <br /> <br />(i) the Developer shall not be in default under any term of this Agreement; <br /> <br />(ii) the Developer shall have obtained firm commitments, acceptable to the <br />City, to finance the construction of the Phase or Sub-Phase of the Minimum <br />Improvements to be constructed on the Parcel to be conveyed; <br /> <br />(iii) the Developer shall have submitted and the City and City shall have <br />approved all building plans for the Phase or Sub-Phase and the Developer shall <br />have obtained any other governmental approvals necessary to allow the <br />construction and operation of the Phase or Sub-Phase; and <br /> <br />(iv) the Developer and the City shall have agreed on a schedule for the <br />construction of the Phase or Sub-Phase. <br /> <br />16 <br />