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<br />NINE THOUSAND SIX HUNDRED THIRTY and No/100 Dollars ($9,630.00). City <br />agrees to deposit said purchase price in escrow with the Escrow Agent within THIRTY (30) <br />days after the date on which the City has approved this PSA, and the Escrow Agent is <br />hereby authorized to pay the same to Seller upon and after: <br /> <br />(a) Conveyance of Said Real Property by Seller to City as hereinabove provided; <br />(b) Acceptance by City of a Grant Deed conveying Said Real Property to City; <br />(c) Delivery to City of the policy of title insurance as hereinabove required; <br />(d) Recordation of the Deed conveying Said Reai Property to City. <br /> <br />7. Possession. Seller agrees to deliver to City, on the date the Deed conveying <br />Said Real Property to City is recorded, quiet and peaceful possession of Said Real <br />Property, which shall be made free by Seller of all personal property. <br /> <br />8. Waivers. The waiver by City of any breach of any covenant or agreement herein <br />contained on the part of Seller shall not be deemed or held to be a waiver of any <br />subsequent or other breach of said covenant or agreement nor a waiver of any breach of <br />any other covenants or agreements contained herein. <br /> <br />9. Heirs. Assians. Successors in Interest. This PSA, and all the terms, <br />covenants and conditions hereof, shall apply to and bind the heirs, executors, <br />administrators, successors and assigns of the respective Parties hereto. <br /> <br />10. Time is of the Essence. In all matters and things hereunder to be done and in <br />all payments hereunder to be made, time is and shall be of the essence. <br /> <br />11. Permission to Enter on Premises. Seller hereby grants City, and its <br />authorized agents, permission to enter upon Said Real Property at all reasonable times <br />prior to close of escrow for the purpose of making necessary inspections. <br /> <br />12. Just Compensation. Seller acknowledges and agrees that the purchase price <br />indicated in section 6, above, is just compensation at fair market value for Said Real <br />Property, including all improvements to Said Real Property, and business goodwill, if <br />any. <br /> <br />Page 4 of 13 <br /> <br />Seller's Initials <br />