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(f) (g) Obtain any and all easements benefiting the Property and/or cancel any and all easements encumbering (including, without limitation, the ECR [defined in Section 3.05 below]) the Property, as may be necessary for Buyer's proposed development and use of the Property; Receive a report, prepared by a certified environmental engineer engaged by Buyer, indicating that the Property is free of underground storage tanks and all hazardous wastes, substances and materials which may require remediation or which may result in penalties under applicable laws, rules or regulations; (h) Determination that the Property has soil conditions which without substantial corrective measures permit construction of the proposed development; (i) The Property is otherwise acceptable and economically feasible for Buyer's proposed development; (j) Review and approve the plans and specifications for Seller's Site Obligations (defined in Section 8.02 below); and (k) Approval by the applicable governmental authorities of documents necessary to create the Property as a separate legal lot (the "Lot Split Documents"). 3.03 Notice of Satisfaction or Waiver. The Contingencies above shall be deemed to have been satisfied or waived, unless on or before the expiration of the Contingency Period (including any extensions as provided for in Section 3.01), Buyer delivers to Seller notice of Buyer's failure to satisfy the Contingencies and, consequently, termination of this Agreement (the "Termination Notice"). 3.04 Earnest Money and Additional Deposit. The Earnest Money and the Additional Deposit, if applicable shall be held by Escrow Agent in accordance with the provisions of this Section 3.04: (a) If Buyer timely delivers a Termination Notice, this Agreement shall terminate, in which case both parties shall be fully released from all further liability and obligations hereunder, and the Earnest Money (and the Additional Deposit, if applicable) shall be returned to Buyer; (b) If the transaction contemplated hereby is closed, the Earnest Money (and the Additional Deposit, if applicable) shall be paid to Seller and credited to Buyer against the Purchase Price at Closing; (c) If the transaction contemplated hereby fails to close due to a Defect in title (Article V hereof) or due to a taking pursuant to eminent domain (Article X hereof), the Earnest Money (and the Additional Deposit, if applicable) shall be returned to Buyer and neither party shall have any further liability hereunder, except as may be set forth in Section 5.04 hereof; 3 B: S: