CC - Agendas - City Council - SPECIAL - 6/23/2009 (3)

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10. No camping or overnight activities shall be allowed on the Purchased Parcel. 11. No fireworks or camp fires shall be allowed on the Purchased Parcel. 12. Nothing shall be constructed or placed on the properties currently owned by the City, which would obstruct current views and access to the Purchased Parcel and lake from Seller's Retained Parcel or any portions thereof 13. Sellers shall walk the property with the surveyor, Kelley/Wise Engineering, Inc., at which time the surveyor shall mark the boundary between the Purchased Parcel and Seller's Retained Property prior to close of escrow. 14. The parties understand that from time to time, horses may wander a short distance to an area west of the Purchased Parcel's boundary line in the rocky area south of the well and septic system area and the parties agree to amicably agree to address and resolve any issues arising as a result of such equine activity, if any. 15. Neither the City nor any other entity shall be granted access for any purpose to the Purchased Parcel through, over, and under the Seller's Retained Parcel or any portion thereof 11. CONDEMNATION. If any condemnation or eminent domain proceedings are commenced with respect to the Purchased Parcel, or any part thereof, prior to the Closing, Seller shall promptly give Buyer written notice thereof, and Buyer shall have the option, to be exercised within fifteen (15) days after receipt of such notice, to (i) close the purchase of the Purchased Parcel on the Scheduled Closing Date subject to such proceedings, whereupon any award paid or to be paid in connection therewith shall be paid to or assigned to Buyer by Seller at the Closing, or (ii) terminate this Agreement and receive a return of the Earnest Money Deposit, whereupon the rights and obligations of the parties to this Agreement shall cease and terminate, except for rights and obligations which by the express terms of this Agreement survive its termination. 12. CLOSING MATTERS. (A) On or before the Scheduled Closing Date, Seller shall deposit with Escrow Agent, for delivery to Buyer at the Closing, the following items, which shall be in form satisfactory to Buyer and be duly executed and acknowledged (where applicable): (i) a Special Warranty Deed conveying fee simple title to the Purchased Parcel to City, subject only to the Permitted Title Exceptions; (ii) an Affidavit of Real Property Value; (iii) an affidavit of Seller's non-foreign status, as required pursuant to Section 20; and (iv) such other documents as may be required by Escrow Agent. 9