under this Agreement except any for any obligations that expressly survive the expiration
or other termination of this Agreement. In no event shall the Closing Date be after February
June 304, 2021.
Cc) Conditions Precedent for Closing by Developer:
(i) Issuance to Developer of all governmental permits and licenses
requisite for the construction of the Project in accordance with established procedures;
(i1) 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 Purehase-Initial Lease Price to City;
(i1) Closing of Developer’s financing;
(iii) Approval by City of the Development Plan; and
(iv) No default by Developer.
e) Other Closing Documents. At the Closing:
(i) City will deliver to Developer a 99 year Air Rights Lease New
Hampshire complant Quit Claim Deed for the Property, free and clear of any mortgages,
deeds of trust or other monetary liens (the “LeaseDeed’’);
(i1) 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
(iii) City and Developer will deliver to each other fully executed
counterparts to the Closing statement;_and
(iv) City and Developer will sign a Notice of Air Rights Lease, in
recordable format substantially similar to Exhibit _to be recorded at the Hillsborough
County Registry of Deeds at Closing.
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
