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The Environmental Audit and Developer's inspections and investigations of the <br />Development Property shaI1 have disclosed no unsatisfactory conditions or <br />defects, including no unsatisfactory environmental conditions. <br /> <br />Developer having determined that the Development Property is physically <br />suitable (including but not limited to, the elevation and soil conditions), for the <br />construction thereon of the Minimum Improvements. <br /> <br />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 /> <br /> AIl of the foregoing contingencies are for Developer's sole benefit. Whether or not the <br />foregoing contingencies have been satisfied shall be determined by Developer in the exercise of <br />its sole and absolute discretion. In the event that any of the foregoing contingencies are not <br />satisfied, or satisfaction thereof is not waived by Developer giving written notice to City of said <br />waiver on or before the Contingency Expiration Date, Developer.may, at its option, terminate <br />this Agreement by giving written notice to City on or before the Contingency Expiration Date. If <br />Developer so terminates this Agreement, neither party shall have any further rights, obligations <br />or liability under this Agreement. <br /> <br />11 <br /> <br />-83- <br /> <br /> <br />