GENERAL REAL ESTATE SALES PROVISIONS Sample Clauses

GENERAL REAL ESTATE SALES PROVISIONS. The City and Center acknowledge and agree that: (a) the City will initially acquire title to the City Acquisition Property comprising a part of the Redevelopment Site on or prior to the Site Assembly Closing Date commencing such acquisition upon Center obtaining financing approval for the Project and unless waived by Center in writing the expiration of the Financing Contingency Period, and (b) the City will convey title to all of the City Acquisition Property to Center on the Project Closing Date, and that in connection therewith (i) Center will be the “Buyer”, as referred to below of the City Acquisition Property; and (ii) the City will be the “Seller”, as referred to below, of the City Acquisition Property.
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