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8. Rotary_'s Agreement to Make Subdivision Improvements. As a condition
<br />of this Option to Purchase, Rotary shall construct within the option period the required
<br />subdivision improvements within the confines of the subdivision, as shown on those certain
<br />improvement plans and as approved by City. Such improvements include, but are not
<br />limited to, concrete curb replacement, sidewalks, and adequate connections for cable
<br />television, gas, electricity, water, and sewer. The purchase price stated in Paragraph 5 shall
<br />include the cost of all subdivision improvements.
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<br /> 9. Title. Title to the Property to be conveyed by Rotary will be good and
<br />marketable title, clear of all liens, encumbrances, defects, and burdens, except as may be
<br />acceptable to City.
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<br /> 10. InSUranCe. Risk of loss or damage to property by fire, storm, earthquake,
<br />burglary, vandalism, or other casualty, between the date of this Option to Purchase and
<br />closing, will be and is assumed by Rotary. No such loss or damage will void or impair this
<br />Agreement. If the improvements or personal property, or both, are damaged or destroyed,
<br />in whole or in part, by casualty prior to closing, the option to purchase will continue in full
<br />force and effect, and City will be subrogated to the Rotary's right of coverage with respect to
<br />any insurance carried by Rotary.
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<br /> 11. Transfer of the Property. If City exercises its option, Rotary shall maintain
<br />the Property, including improvements, the personal property described in this agreement, and
<br />lawns, shrubs, and trees, in their then present condition pending the closing of this
<br />transaction.
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<br /> Prior to transfer of the Property, Rotary shall cause the Property to be cleaned and
<br />placed in a neat, sanitary, and habitable condition. The Property will be transferred to City,
<br />in such condition, and clear of all trash and debris.
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<br /> 12. Time of Essence. Time is expressly declared to be of the essence of this
<br />Agreement. Each party will fully perform all obligations under this Agreement at such times
<br />as to insure closing.
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<br /> 13. Remedies of the Parties.
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<br /> (a) If Rotary fails or refuses to perform its obligations under this
<br />Agreement, including the furnishing of appropriate title and transferring the Property, City
<br />may pursue any remedy available to City, in law or equity, including an action to compel
<br />specific performance of this Agreement, or one for damages for breach, separately or
<br />alternatively.
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<br /> Co) If City exercises its option, Rotary 's only remedy to enforce this
<br />Agreement shall be for specific performance.
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