(ii) Approval by City of the Development Plan and Project Design
Drawings in accordance with established procedures;
(iii) | Developer obtaining all applicable financing commitments at rates
and terms typically found in the Nashua, New Hampshire market; and
(vi) No default by City.
d) Conditions Precedent for Closing by City:
(i) Payment by Developer of the Purchase Price to City;
(ii) Closing of Developer’s financing;
(iit) Approval by City of the Development Plan; and
(iv) No default by Developer.
e) Other Closing Documents. At the Closing:
(1) City will deliver to Developer a New Hampshire compliant Quit
Claim Deed for the Property, free and clear of any mortgages, deeds of trust or other
monetary liens (the ““Deed”’);
(ii) City will deliver to Developer a New Hampshire compliant lien
and possession affidavit regarding the Property to Developer and Developer's title insurer
as customarily required by title insurers in New Hampshire; and
(it) City and Developer will deliver to each other fully executed
counterparts to the Closing statement.
2.2 Performance _of Governmental Functions. The terms of this Agreement
regarding the design and construction of the Project and the role of City in the Project are
independent of any obligations binding upon City or Developer pursuant to applicable
laws and ordinances. In no event will any approvals given by City pursuant to the terms
of this Agreement constitute the performance by City of any review or issuance of any
permits, approvals or licenses that it is obligated to conduct or consider pursuant to any
law, or ordinance or both. Nothing in this Agreement or any approvals or consents by
City in connection with this Agreement will in any way stop, limit or impair City from
exercising or performing any regulatory, policing or other governmental function with
respect to either Party, including, but not limited to, the review, approval and issuance by
City of applications, approvals, permits and licenses regarding the Project pursuant to any
laws and ordinances. City will, to the extent reasonably appropriate and permitted by
applicable laws and ordinances, facilitate Developer's submissions, requests and
applications pursuant to the applicable laws and ordinances governing the Project;
