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<br />A!!encv and c1osin!! on interim construction financin!! for the Jackson Block <br />Develonment shall be sufficient to satisfy this clause (ii) with resnect to the Jackson <br />Block Develonment; <br /> <br />(iii) The Developer shall have delivered to the City evidence acceptable to the <br />City that the Developer and/or the City has fee title to all ofthe Bluff Block Property; <br /> <br />(iv) In accordance with Section 4.1, the Developer shall have submitted the <br />Construction Plans for the Minimum Improvements to the City, and the City shall have <br />approved the same. <br /> <br />(v) Developer shall have performed all of the obligations required to be <br />performed by Developer under this Agreement as of the Closing Date. <br /> <br />(vi) The Developer shall have delivered to the City evidence of presales of the <br />units of the Bluff Block Housing Project in the amount required by the Construction <br />Lender. <br /> <br />(vii) The Developer shall have delivered to the City all of the Developer's <br />Documents described in Section 3.7(c). <br /> <br />(viii) The Developer shall have paid the Parking Lot Cost to the City or <br />deposited the Parking Lot Cost into escrow pursuant to an escrow agreement executed by <br />the City, the Developer and an escrow agent providing the terms of disbursement of the <br />escrowed funds to pay the costs of constructing the Parking Lot and related costs; <br />provided, the Developer shall pay any costs of establishing the escrow account and any <br />escrow fees; and <br /> <br />(ix) The Parking Lot shall have been substantially completed and be available <br />for use as a parking facility-;-. <br /> <br />(c) City's and Developer's Options. In the event that any of the foregoing <br />contingencies fail to be satisfied on or before the Closing Date, the Developer or the City, as the <br />case may be, may: <br /> <br />(i) terminate this Agreement; or <br /> <br />(ii) waive such failure and proceed to close. <br /> <br />Section 3.7 ClosiD1!:. <br /> <br />(a) Time and Place. Subject to the terms and conditions of this Agreement, the <br />Closing on the purchase and sale of the Jackson Block Property shall take place on the Closing <br />Date and shall take place at such place which is mutually acceptable to the Parties. The City <br />. shall deliver possession ofthe Jackson Block Property on the Closing Date. <br /> <br />(b) City's Documents. At the Closing, the City shall execute, where appropriate, and <br />deliver all of the following City's Documents: <br /> <br />I 824344vRED V2 to VI; 10/12/05 <br /> <br />21 <br />