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10. Further Agreements bV CitV and Authority. The policies of <br />insurance listed in Schedule D shall, to the extent of the City's <br />prior established practice, be extended in full force and effect <br />until June 30, 2005, or until a mutually agreeable date. The <br />Authority shall assume the cost of such extension. <br />11. Conditions to Obligations of the Authority. Unless waived by <br />the Authority, its obligations under this Agreement are subject to <br />each of the following precedent that, on the closing date: <br />(a) The Authority shall have received the opinion of the City's <br />Director of Law, dated the closing date, in form and <br />substance reasonably satisfactory to the Authority and its <br />General Counsel to the effect that: (i) The City has full power <br />and authority to transfer the properties and assets hereunder; <br />(ii) all administrative and legislative actions necessary for the <br />consummation of this transfer have been properly made; (iii) <br />this Agreement has been duly authorized and is a legal, valid <br />and binding obligation of the City in accordance with its <br />terms; (iv) the instruments of transfer have been duly <br />authorized, executed and delivered. Such opinion shall also <br />contain statements that the Director of Law knows: (i) of no <br />suit or proceeding pending or threatened against the City <br />which might materially or adversely affect the properties or <br />other assets to be transferred hereunder and (ii) of no <br />contract, instrument, order or decision to which the City is <br />bound, which would prevent or adversely affect the carrying <br />out of this Agreement. <br />0 <br />