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<br />10. UNDERGROUND TANKS. CITY represents to RH. that there are no <br />underground tanks on the City Property. <br /> <br />11. DEFAULT. If title is marketable or is corrected as provided herein, and RoB. <br />defaults in any of the agreements herein, CITY may terminate this Agreement and payments made <br />hereunder may be retained by CITY. This provision shall not deprive either RoH. or CITY of the <br />right to recover damages for a breach of this Agreement or of the right. of specific performance of <br />this Agreement, provided this Agreement is not terminated, and further provided, as to specific <br />performance, such action is commenced within six months after such right of action arises. <br /> <br />12. TIME OF ESSENCE. Time is of the essence in this Agreement. <br /> <br />13.. POSSESSION. CITY shall deliver possession of the City Property to RH. not later <br />than the Closing Date. <br /> <br />14. . NO PARK DESIGNATION. In the event the. CITY determines the City Property <br />has been dedicated to the public as park or a restriction of record exists limiting the use of the City <br />Property to park purposes, this Agreement shall be null and void. <br /> <br />IV. <br />GENERAL <br /> <br />1. ENTIRE AGREEMENT. This Agreement, any attached exhibits and any addenda <br />or amendments signed by. the parties, shall constitute the entire Agreement between CITY and <br />R.H., and supersedes any other written or oral agreements between CITY and R.H.. This <br />Agreement can be modified only in writing ~igned by CITY and R.H. <br /> <br />2.. CLOSING DATE. The Closing Date or Closing shall be on or before March 27, <br /> <br />2006. <br /> <br />3. CITY'S CLOSING DOCUMENTS. On the Closing Date, CITY shall execute <br />and/or deliver to R.B. the following (collectively, "CITY'S Closing Oocuments"): <br /> <br />a. A Warranty Deed, in form reasonable and satisfactory to R.H., conveying the <br />Property to R.H., free and clear of all encumbrances hereafter defined, and including <br />a covenant of further assurances; <br />b. An Affidavit of Seller by CITY indicating that on the Closing Date there are no <br />outstanding, unsatisfied judgments, tax liens, or bankruptcies against or involving <br />CITY or the CitY Property; that there has been no skill, labor or material furnished <br />to the Property for which payment has not been made or for which mechanic's liens <br />could be filed; and that there are no other unrecorded interests in the City Property, <br />together with whatever standard owner's affidavit and/or indemnity (ALTA Fonn) <br />which may be required by Title Company to issue an Owner's Policy of Title <br />Insurance with the standard exceptions waived; <br />c. An executed certification as to the location of any wells on the City Property in <br />accordance with the laws of the State of Minnesota; and <br /> <br />5 <br /> <br />-11- <br />