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(b) Developer having determined that the Development Property is physically suitable <br />(including but not limited to, the elevation and soil conditions), for the construction <br />thereon of the Minimum Improvements. <br />(c) Developer having determined that it will be able to obtain and the City having <br />approved financing which, together with Developer's equity, is sufficient for the <br />Construction of the Minimum Improvements. <br />All of the foregoing contingencies in this Section 2.9. are for Developer's sole benefit. <br />Whether or not the said contingencies have-been satisfied shall be determined by Developer in the <br />exercise of its sole and absolute discretion. In the event that any of the foregoing contingencies are <br />not satisfied, or satisfaction thereof is not waived by Developer giving written notice to City of said <br />waiver on or before 30 days prior to the Closing Date, ("the Contingency Expiration Date"), <br />Developer may, at its option, terminate this Agreement by giving written notice to City on or before <br />the Contingency Expiration Date. If Developer so terminates -this Agreement, neither parry shall <br />have any further rights, obligations or liability under this Agreement. <br />-110- <br />