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There are no liens, reservations, zoning ordinances, architectural control, restrictions, <br />easements or other encumbrances upon the Property or other matters which in any way <br />limit or impair the use of the Property for the operation of the project on the Property, <br />except the permitted exceptions. <br />If any representation or warranty is untrue, this Contract may be terminated by <br />Purchaser. <br />ARTICLE 7 <br />Closin <br />Section 7.1 The Closing hereunder shall take place at the offices of the Title <br />Company. The date of Closing ("Closing Date") shall be forty-five (45) days after the <br />Effective Date or on such other date as may be mutually agreed to. <br />Section 7.2 At the Closing, Seller shall deliver or cause to be delivered to <br />Purchaser each of the following items: <br />(a) A General Warranty Deed (the "Deed") duly executed and acknowledged <br />by Seller, and in form for recording, conveying good, indefeasible title in the Property to <br />Purchaser, subject only to the Permitted Exceptions. <br />(b) At Seller's expense, the Owner's Title Policy in the form specified in <br />Section 3.3 hereof. <br />(c) All additional documents and instruments as in the opinion of the Seller's <br />and Purchaser's counsel are reasonably necessary to the proper consummation of this <br />transaction. <br />Section 7.3 At the Closing, Purchaser, at Purchaser's sole cost and expense <br />shall deliver to Seller the following items: <br />(a) The Purchase Price in cash as required by Section 2.1 hereof; <br />(b) Such evidence or documents as may reasonably be required by the Seller <br />or the Title Company evidencing the status and capacity of Purchaser and the authority <br />of the person or persons who are executing the various documents on behalf of the <br />Purchaser in connection with the sale of the Property; and <br />(c) All additional documents and instruments as in the opinion of the Seller's <br />and Purchaser's counsel are reasonably necessary to the proper consummation of this <br />transaction. <br />Section 7.4 Ad valorem taxes shall be prorated at Closing in accordance with <br />Section 26.11 of the Texas Tax Code. <br />REAL ESTATE CONTRACT/TO CITY <br />(No Earnest Money) (Inspection Fee) E [ PAGE 5 <br />