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_ <br /> Section 2 8 Possession City shall deliver possession of the Development Property to <br /> Developer on the Closing Date <br /> Section 2 9 Developer's Contin eg ncies Developer's obligation to close under this <br /> Agreement is expiessly conditioned upon each of the following contingencies being satisfied or <br /> waived on or before the closing date <br /> (a) The Environmental Audit and Developer's inspections and investigations of the <br /> Development Property shall have disclosed no unsatisfactory conditions or <br /> defects, including no unsatisfactory environmental conditions that cannot be <br /> remedied by the City <br /> (b) 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 /> (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 <br /> the exercise of its sole and absolute discretion In the event that any of the foregoing <br /> contingencies are not satisfied, or satisfaction thereof is not waived by Developer giving written <br /> notice to City of said waiver on or before 30 days prior to the Closing Date, ("the Contingency <br /> Expiration Date"), Developer may, at its option, terminate this Agreement by giving written <br /> notice to City on of before the Contingency Expiration Date If Developer so terminates this <br /> Agreement, neither party shall have any further rights, obligations or liability under this <br /> Agreement <br /> it <br />