Real Property Transfer Agreement - Near Northwest Neighborhood Inc - Transfers for Housing Development Projects Contingent on IHCDA Tax Credit Award in Nov 2018

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IHCDA's deadline on or about July 30, 2018, the IHCDA awarded the Organization tax credits in an amount sufficient to ensure the financial viability of the Project. (f) The Parties agree to provide one another such customary documents as are reasonably required to complete the Closing. 5. Use of Property. The Organization agrees to use the Property only for purposes consistent with and permissible under its Articles and Section 501(c)(3) of the Internal Revenue Code, including the Project, and for no other purpose. 6. No Warranties. The Organization agrees to accept the Property in its condition on the Closing Date "as -is, where -is" and without any representations or warranties by the City concerning title to or the condition of the Property. The City offers no such representation or warranty as to title or condition, and nothing in this Agreement will be construed to constitute such a representation or warranty as to title or condition. 7. Taxes. The Organization, and the Organization's successors and assigns, will be liable for any and all real property taxes and assessments, if any, assessed and levied against the Property with respect to the year in which the Closing tapes place and for all subsequent years. The City will have no liability for any real property taxes and assessments associated with the Property, and nothing in this Agreement shall be construed to require the proration or other apportionment of real property taxes or assessments resulting in the City's liability therefor. 8. Indemnity. The Organization will indemnify, defend, and hold harmless the City and its employees, agents, and contractors from and against any liabilities, claims, losses, or damages arising out of the use or occupancy of the Property by the Organization or the Organization's employees, contractors, or licensees. 9. Entire Agreement; SeyerabiIity. This Agreement embodies the entire agreement between the Parties and supersedes all prior discussions, understandings, or agreements between the Parties concerning the transaction contemplated in this Agreement, whether written or oral. If any provision of this Agreement is held by a court of competent jurisdiction to be invalid, void, or unenforceable, the remainder of the provisions of this Agreement will remain in full force and effect and will in no way be affected, impaired, or invalidated. 10. Assignme . The Organization may not assign this Agreement or any of its rights hereunder, in whole or in part, without the prior written consent of the City. In the event the Organization wishes to obtain the City's consent regarding a proposed assignment of this Agreement, the City may request and the Organization will provide any and all information reasonably demanded by the City in connection with the proposed assignment and/or the proposed assignee. 3