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12 <br />ARTICLE VI. CONDITIONS TO CLOSING <br />6.01 Conditions to Closing. The obligations of the Parties with respect to Closing are <br />subject to the satisfaction or waiver in writing, of the following prior to the applicable period <br />specified in this Section 6.01: <br />(a) Title. Within thirty (30) days after the Execution Date, the Developer shall <br />have obtained the Title Commitment. <br />(b) Survey. Within forty-five (45) days after the Execution Date, the Developer <br />shall have obtained the Survey. <br />(c) Permits. The Developer shall have completed and filed all necessary <br />documentation to secure all Required Permits and approvals for construction and <br />installation of the Project. <br />(d) Title and Survey Conditions. On or before Closing, the Developer shall <br />have determined that there are no exceptions or matters of record reflected in the Title <br />Commitment that would constitute Title Defects and shall have also determined that, upon <br />recordation of the Plat, the Survey: (i) describes the perimeter of the Project Site as a single <br />parcel without gaps, gores, or overlaps; (ii) shows no encroachments thereto; (iii) shows <br />no Title Defects thereto; (iv) establishes that no part of the Project Site upon which building <br />improvements are to be constructed is located within: (A) a “flood hazard zone”, as shown <br />on the applicable Federal Insurance Rate Map; or (B) a “floodway” or “flood plain”, as <br />shown on the applicable Flood Control District Map, unless otherwise agreed to by the <br />Developer; and (v) otherwise reasonably is acceptable to the Developer. The Developer <br />shall be responsible, at its cost, for obtaining the policy of title insurance contemplated <br />pursuant to the Title Commitment, together with any endorsements that it deems to be <br />necessary or appropriate. <br />(e) Environmental Condition. Prior to Closing, the Developer, at its expense, <br />shall have determined that: (i) there is no contamination or pollution of the Project Site, or <br />any groundwater thereunder, by any hazardous waste, material, or substance in violation <br />of any Laws; and (ii) there are no underground storage tanks located on the Project Site. <br />To the extent deemed necessary or appropriate by the Developer, the Developer shall have <br />obtained a comfort letter issued by the Indiana Department of Environmental Management <br />through the Indiana Brownfields Program (“IDEM”) confirming, among other things, <br />IDEM’s opinion that the Developer meets the requirements to be considered a bona fide <br />prospective purchaser of the Project Site. The Developer shall provide the City with all <br />Property Inspection reports prepared for the Project Site. <br />(f) Physical Condition. Prior to Closing, the Developer, at its expense, shall <br />have determined that no test, inspection, examination, study, or investigation of the Project <br />Site establishes that there are conditions that would interfere materially with the <br />construction and use of the Project, in accordance with the terms and conditions of this <br />Agreement.