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9. Real Estate Taxes, Special Assessments and Owners Association Assessments. a. Real Estate Taxes. On or before the Date of Closing, Seller must pay the real estate taxes, if any, due and payable with respect to the Property in years prior to the year of Closing. Seller and Buyer must prorate the real estate taxes, if any, due and payable with respect to the Property in the year of Closing on a per diem basis as of the Date of Closing. In connection with recording the Final Plat, the Seller must pay all real estate taxes due and payable with respect to the Property in the year the Plat is recorded. If Closing occurs on a date prior to the date that all real estate taxes due and payable with respect to the Property in the year of Closing are due, Seller and Buyer each agree to pay their pro rata share of the real estate taxes due and payable in the year in which Closing occurs at Closing, so Title can use those funds to pay the real estate taxes when the Final Plat is submitted for recording. b. Special Assessments. On or before the Date of Closing, Seller must pay all special assessments that are levied against the Property as of the Date of Closing including any installments of special assessments certified for payment with the real estate loans due and payable in the year of Closing. 10. Possession. Seller will deliver possession of the Property to Buyer as of the actual date of Closing. 11. Representations, Statutory Disclosures and Covenants of Seller and the City. a. Representations of Seller. Seller represents to Buyer that, as of the Effective Date of the Option Agreement: i Seller has the legal authority to enter into this Agreement and sell the Land. ii There are no actions, suits, proceedings or investigations pending or, to the best of Seller's actual knowledge, threatened against the Land, including, without limitation, (A) condemnation or eminent domain claims, actions or proceedings, or (B) actions to seize any portion of the Land under any civil or criminal law authorizing seizure or forfeiture as a penalty for violation. iii To the best of Seller's actual knowledge, there are no tenants or other third parties in possession of any portion of the Land. iv To the best of Seller's actual knowledge, Seller's title to the Land is not subject to any unrecorded: purchase agreements (other than this Agreement) options, covenants, conditions, restrictions, easements or liens. v To the best of Seller's actual knowledge: there are no Hazardous Substances located on the Land, except as may be disclosed in the C-6 4937063v3