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<br />(E) Four original versions of the City Lease Agreement, <br />duly executed on behalf of the Steadfast dated on its first page as being made as ofthe date of <br />Closing; and <br /> <br />(F) Funds sufficient to pay the balance of the Parking <br /> <br />Lot Payment to the City. <br /> <br />(iii) Deposits bv Both Parties. Any other information, <br />documents or instruments which Escrow Holder and Title Company reasonably request from the <br />Parties in order to complete the close of Escrow. <br /> <br />4. Conditions Precedent. The close of Escrow shall be conditioned upon the <br />following conditions precedent ("Conditions Precedent"): <br /> <br />(a) Steadfast Conditions Precedent. Steadfast shall have no obligation <br />to convey the Steadfast Property to City until the following conditions have been satisfied or <br />waived by Steadfast. Once such conditions have been satisfied or waived by Steadfast, Steadfast <br />shall deliver to Escrow Holder written confirmation that all Conditions Precedent in Steadfast's <br />favor pursuant to this Section 4(a) have been satisfied or waived. <br /> <br />(i) Final Approval shall have occurred and the Entitlements <br /> <br />shall have been received. <br /> <br />been satisfied or waived. <br /> <br />(ii) The contingencies set forth in Article 7 below shall have <br /> <br />(iii) City shall have timely delivered all of the items described <br /> <br />in Section 3( d)(i) above. <br /> <br />(iv) Escrow Holder shall be in a position to issue at the close of <br />Escrow to Steadfast a policy of title insurance in the form of the ALTA (Form 1970 B) owner's <br />policy showing Steadfast as the owner of the City Land having title insurance coverage in the <br />amount of $2,500,000 subject only to liens for real property taxes and assessments not yet due <br />and payable and to the City Permitted Exceptions. <br /> <br />(v) City shall have formally accepted the Steadfast Property in <br />accordance with all applicable procedures, ordinances, laws, and regulations that have been <br />adopted by or imposed on the City, including but not limited to the passage of any resolution or <br />the adoption of any ordinance that may be necessary to evidence such acceptance. <br /> <br />(b) Citv Conditions Precedent. City shall have no obligation to <br />convey the City Property to Steadfast until the conditions listed below have been satisfied or <br />waived by City. Once such conditions have been satisfied or waived, City shall deliver to <br />Escrow Holder written confirmation that all Conditions Precedent in City's favor pursuant to this <br />Section 4(b) have been satisfied or waived. <br /> <br />(i) Steadfast shall have timely delivered all of the items <br />described in Section 3( d)(ii) hereof. <br /> <br />40836735. 16 <br /> <br />4 <br />