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9. <br />10. <br />• 's <br />perty prior to the closing date, either party may, by writ- <br />ten notice to the other, terminate this Agreement, and all <br />monies paid hereunder shall be refunded to Buyer. After <br />November 1, 1987, in the event the Buyer elects to accept <br />the property notwithstanding condemnation, then any condem- <br />nation proceeds received or receivable by Seller shall be <br />paid or assigned to Buyer at closing. <br />ADJUSTMENTS. <br />The Buyer and Seller also mutually agree that pro rats <br />adjustments of rents, interest, insurance and city water, <br />and, in the case of income property, current operating <br />expenses, shall be made as of the date of closing. <br />CONDITIONS PRECEDENT. <br />All obligations of the Buyer under this Agreement are sub- <br />ject to and contingent upon the fulfillment of the following <br />conditions: <br />A. The Buyer's review and approval of all items to be pro- <br />vided by the Seller pursuant to the provisions of <br />Article 6B(1) of this Purchase Agreement; <br />B. The Buyer's inspection and approval of the condition of <br />the property. For the purposes of this provision, the <br />Buyer and Seller agree that the Buyer, and the Buyer's <br />representatives, shall have reasonable access, during <br />normal business hours, throughout the period prior to <br />closing, to inspect the property, conduct tests upon the <br />property, and to otherwise examine the property for the <br />purpose of determining its suitability for development; <br />C. The Buyer's review and approval of all codes, ordinan- <br />ces and laws applicable to the development of the <br />property; <br />D. The Buyer's application for and acquisition of approval <br />of Buyer's proposed development of the property by any <br />governmental unit having jurisdiction over the premises; <br />and <br />E. The Buyer's application for and acquisition of the <br />financing necessary to fund this purchase, all on terms <br />and conditions acceptable to Buyer. <br />In the event the foregoing conditions are not satisfied or <br />removed by the Buyer on or before November 1, 1907, then <br />this Agreement shall be null and void, and the earnest money <br />herein paid shall be refunded to Buyer forthwith. The <br />satisfaction or removal of said conditions shall be <br />