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Attachment A <br />224 <br />225 <br />(a)Authority shall surrender any abstract of title and a copy of any owner’s title <br />226 <br />insurance policy for the property, if in Authority’s possession or control, to Developer or to <br />227 <br />Developer’s designated title service provider; and <br />228 <br />229 <br />(b)Developer shall obtain the title evidence determined necessary or desirable by <br />230 <br />Developer or Developer’s construction lender, including but not limited to title searches, title <br />231 <br />examinations, abstracting, a title insurance commitment or an attorney’s title opinion, at <br />232 <br />Developer’s selection and cost, and provide a copy to the Authority. <br />233 <br />234 <br />The Developer shall have 20 days from the date it receives such title evidence to raise any <br />235 <br />objections to title it may have. Objections not made within such time will be deemed waived. <br />236 <br />The Authority shall have 90 days from the date of such objection to effect a cure; provided, <br />237 <br />however, that the Authority shall have no obligation to cure any objections, and may inform <br />238 <br />Developer of such. The Developer may then elect to close notwithstanding the uncured <br />239 <br />objections or declare this Agreement null and void, and the parties will thereby be released from <br />240 <br />any further obligation hereunder. <br />241 <br />242 Section 3.3. Taxes and Special Assessments. <br /> Real estate taxes will be prorated <br />243 <br />between the Authority and Developer as of the date of closing. The parties agree that there are <br />244 <br />no special assessments levied against the Property as of the date of this Agreement, and that it is <br />245 <br />expected that no special assessments will be levied or pending against the Property on the <br />246 <br />Closing Date. Pending special assessments, if any, will be paid by the Authority. <br />247 <br />248 <br />Section 3.4. Soil Conditions and Hazardous Wastes. <br /> The Developer acknowledges <br />249 <br />that the Authority makes no representations or warranties as to the conditions of the soils on the <br />250 <br />Property, its fitness for the construction of improvements or any other purpose for which the <br />251 <br />Developer may use the Property, or regarding the presence of hazardous wastes on the Property. <br />252 <br />The Authority will allow reasonable access to the Property for the Developer to conduct such <br />253 <br />tests regarding soils conditions and hazardous wastes as the Buyer may desire. Permission to <br />254 <br />enter the Property to conduct such tests must be given in writing under reasonable terms and <br />255 <br />conditions established by the Authority. <br />256 <br />257 <br />Section 3.5. Site Clearance. <br /> The Authority will be responsible for clearance of all <br />258 <br />buildings as required to prepare the Property for development. All other site preparation is the <br />259 <br />responsibility of Developer. Developer will comply with all of the provisions of the Guidelines <br />260 <br />relating to tree protection, preservation and replacement. <br />261 <br />262 Section 3.6. Other Preconditions to Closing. <br /> Closing may not take place until the <br />263 <br />Authority is satisfied that the Development is in all respects in full compliance with the <br />264 <br />provisions of the Guidelines contained in Exhibit B. If a Homeowner is identified, it is <br />265 <br />anticipated that the Developer will involve the Homeowner in the various activities required <br />266 <br />under the Guidelines so that the Homeowner will have an opportunity to contribute suggestions <br />267 <br />concerning development of the Property. <br />268 <br />5 <br />498768v2 MNI RS275-12 <br /> <br />