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Page 5 <br />CLOSING: <br />COMMISSIONS: <br />SUCCESSORS <br />• Purchaser shall have obtained approval on the combined City <br />of Ramsey and K. Hovnanian Land for a 120 unit Single Family <br />Town Home Residential Community which must be acceptable <br />to Purchaser for the Property, and in which all lots can be <br />connected to gravity sewer by the responsible government <br />agency, and with a final, unappealable decision having been <br />granted on the Development Permit. <br />• Purchaser shall have obtained, at its expense, all necessary <br />governmental and quasi -governmental approvals for sanitary <br />sewer and water service to the Property, as well as written <br />confirmation from the City of Ramsey, MN of service and <br />capacity for the proposed residential development of the <br />Property (the "Sewer Approval"), all of which must be <br />acceptable to Purchaser in Purchaser's sole discretion. <br />• Purchaser shall have obtained, at its expense, all necessary <br />governmental and quasi -governmental approvals for <br />commencement of construction of the proposed residential <br />development of the Property, all of which must be acceptable <br />to Purchaser in Purchaser's sole discretion, including, without <br />limitation, all necessary HOA architectural agreements, all <br />approvals necessary for the availability, capacity, access, and <br />construction of any utilities, all grading/land disturbance <br />permits, and all wetlands permits. <br />The closing will take place at the Title Company's offices or another <br />location mutually acceptable to the parties (including via "mail - <br />out" or similar method) within the later of thirty (30) days after (a) <br />the expiration of the Governmental Approval Period, (b) Seller's <br />satisfaction of or Purchaser's waiver of all Contingencies, or (c) <br />April 30, 2022. <br />Seller acknowledges no Broker representation in this transaction <br />and Buyer shall have no obligation to pay any Broker a commission <br />pursuant to this or any separate agreement. Seller and Purchaser <br />shall indemnify, defend, protect and hold harmless the other from <br />and against any claims, liabilities or losses arising through any <br />broker or finder claiming by or through Seller or Purchaser, <br />including without limitation Seller's Broker <br />