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TABLE OF CONTENTS <br /> Page <br /> 1 SALE AND PURCHASE 1 <br /> 2 PURCHASE PRICE 1 <br /> 2 1 Purchase Price 1 <br /> 2 2 Independent Consideration 2 <br /> 3 TITLE 2 <br /> 3 1 Conditions of Title 2 <br /> 3 2 Buyer's Responsibility for Title Insurance 2 <br /> 4 "AS-IS" PURCHASE, RELEASE OF CITY 3 <br /> 4 1 Due Diligence and Time for Satisfaction of Conditions 3 <br /> 4 2 Buyer's Independent Investigation 3 <br /> 4 3 Property Disclosures 3 <br /> 4 4 Entry and Indemnity 4 <br /> 4 5 "As-Is" Purchase 5 <br /> 4 6 Release of City 5 <br /> 5 CONDITIONS PRECEDENT 6 <br /> 5 1 Buyer's Conditions Precedent 6 <br /> 5 2 Contingency Period 6 <br /> 5 3 City's Condition Precedent 7 <br /> 5 4 Failure of City's Conditions Precedent 7 <br /> 6 ESCROW AND CLOSING 7 <br /> 61 Escrow 7 <br /> 6 2 Closing Date 7 <br /> 6 3 Deposit of Documents 8 <br /> 6 4 Prorations 8 <br /> 7 RISK OF LOSS 8 <br /> 71 Loss 8 <br /> 7 2 Self-Insurance 8 <br /> 8 EXPENSES 9 <br /> 81 Expenses 9 <br /> 8 2 Brokers 9 <br /> i <br />