Res17 15621 - Laserfiche WebLink

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requirements set forth in Article X, and shall have provided to City copies of payment bonds and performance bonds pursuant to Section 5 . 18. (1) Mechanics' Liens. Developer's delivery to City of evidence reasonably satisfactory to City that there are no mechanics' liens or stop notices related to the Property or the Project, and Developer's provision to City of full waivers or releases of lien clams if required by City. (m) Other Documents. Developer's delivery to City, and City approval of such other documents related to the development and financing of the Project as City may reasonably request. 3 .8 Developer's Conditions to Closing. Developer' s obligation to proceed with the acquisition of the Property is subject to the satisfaction or Developer' s waiver of the following conditions: (a) No Default. City shall not be in default under the terms of this Agreement, and all representations and warranties of City contained herein shall be true and correct in all material respects; (b) Execution of Documents. City shall have executed and acknowledged the Grant Deed, the Quit Claim (if applicable), the Memorandum, the Regulatory Agreement, and all other City Documents to which the City is a party, and shall have delivered such documents into escrow; (c) Resolution of Title Issues. City shall have completed a land exchange and if necessary, a lot-line adjustment that will enable the City to convey Fee Parcel A2 to Developer, and shall have resolved any unresolved title issues, including, but not limited to, any ownership issues relating to the Tideline Parcel, so that City can convey the Property in fee simple to Developer. Developer acknowledges that City may convey the Tideline Parcel by quit claim, or may pursue another to-be-determined course of action acceptable to the Title Company to resolve the ownership of the Tideline Parcel. (d) Owner's Title Policy. The Title Company shall, upon payment of the premium therefor, be ready to issue an Owner's Title Insurance Policy for the benefit and protection of Developer ("Owner's Title Policy") showing title to the Property vested in Developer, subject only to Developer's Permitted Exceptions and containing such endorsements as Developer may reasonably require, with the cost of such Owner's Title Policy to be paid by Developer. ARTICLE IV [Reserved.] ATY/AGR/2017.218/RWC — BRADFORD — DDA REV: 09-18-17 VR Page 13 of 94