Agenda - Economic Development Authority - 10/10/2024

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Feasibility Period: Within 5 days after the effective date of the Contract, Seller will deliver copies of any and all information related to the Property that Seller has in its possession. 180 days after the effective date of the Contract, Buyer will have the right to review all title and survey matters, and conduct any surface and subsurface investigations of the Property as may be necessary in Buyer's sole discretion (as further defined in the Contract, the "Feasibility Conditions"). Buyer may terminate the Contract for any reason or for no reason at all prior to the expiration of the Feasibility Period. Buyer may extend the Feasibility Period by two periods of 90 days each. Closing Date: Thirty (30) days after the expiration of the Feasibility Period, subject to satisfaction of the Closing Conditions. Prorations: Subject to customary practices in the applicable jurisdiction, Buyer shall pay all "Grantee's Taxes"; Seller shall pay all "Grantor's Taxes" all other conveyance or transfer or documentary stamp taxes will be paid by Seller. Seller will pay for the cost of a standard's owner's policy, Buyer will pay additional title policy premiums Seller and Buyer will each pay one half of all costs and expenses assessed by the Escrow Agent. Environmental: Seller is responsible for remediation of any contamination existing at the Property, prior to Closing. Restrictive Seller must record a Restrictive Covenant Agreement which provides that any Covenant land owned or controlled by Seller as of Closing or acquired within 10 years Agreement (if after the Closing, and located within a five mile radius may not be used as (1) applicable): a convenience store and/or fueling facility, (2) a car wash, (3) a mobile food truck, and/or (4) items typically sold at a convenience store (including, without limitation, coffee, cigarettes, beer/wine/liquor and lottery tickets), to be further set forth in the Contract. Brokers: Title Company: PSA Form: CBRE ("Seller's Broker") and Upland Real Estate Group ("Buyer's Broker"), each of which will be paid a commission by Seller pursuant to the terms of a separate written agreement, as further set forth in the Contract. Chicago Title Insurance Company, Attention: Nancy Shirar, 3100 Monticello, Suite 800, Dallas, Texas 75205; Phone 972-764-4874; email: nancv. shirar(a,ctt. com The Contract will be prepared on Buyer's standard Purchase and Sale Agreement form.