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2.1 Purchase Price The total purchase price for the Property shall be the sum of $1,100,000 ("Purchase Price"). (a) Escrow Deposit. Within three (3) business days following the Effective Date, Buyer will remit into escrow a deposit equal to nine percent (9%) of the Purchase Price ("Escrow Deposit'). Such Escrow Deposit shall be fully refundable until the expiration of the Due Diligence Period and as otherwise set forth herein. Such Escrow Deposit shall be credited towards the Purchase Price paid to Seller as provided in this Agreement. (b) Proposal Deposit. As part of the proposal submitted for this site, Buyer paid to Seller a proposal deposit equal to one percent (1%) of the Purchase Price ("Proposal Deposit'). The Proposal Deposit shall be retained by the Seller and credited to the Buyer towards the Purchase Price. (c) Closing Payment. The Purchase Price, as adjusted by the application of the Proposal Deposit, Escrow Deposit and by any proration and credits specified herein, shall be paid by Buyer to Seller in cash at the Close of Escrow (the amount to be paid under this Section 2.1(c) being herein called the "Closing Payment"). (d) Independent Consideration. Escrow Holder shall pay a portion of the Escrow Deposit in the amount of One Hundred Dollars ($100.00) ('Independent Consideration") to Seller upon the earlier to occur of the Close of Escrow (as defined below) or the termination of this Agreement for any reason. The Independent Consideration constitutes bargained -for consideration for this Agreement and Buyer's rights under Section 2.6(d) and is expressly acknowledged to be adequate. The obligation of Buyer to pay the Independent Consideration to Escrow Holder, and the obligation of Escrow Holder to pay the same to Seller, are unconditional and shall survive any termination of this Agreement. 2.2 Close of Escrow If Buyer does not exercise its right to terminate this Agreement under Section 2.6(d) prior to the expiration of the Due Diligence Period (as defined below), then Escrow shall close ("Close of Escrow") on or before December 20, 2019. If Escrow is not in a condition to close by such date, Escrow shall be closed as soon as possible thereafter.