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d. if Buyer requests and CCLRC agrees to extend the CCLRC Holding Period, Buyer shall reimburse <br />the CCLRC for all CCLRC's holding costs in an amount not less than One Hundred Dollars <br />($100.00) for every additional thirty (30) day period added to the CCLRC Holding Period (such <br />"Holding Costs" shall not be subject to proration); <br />e. to unconditionally accept title to the Real Property from the CCLRC under any circumstances, <br />and in furtherance thereof Buyer hereby irrevocably appoints CCLRC as its attorney-in-fact for <br />filing, and authorizes CCLRC to file a quit claim deed transferring the Real Property from the <br />CCLRC to Buyer ("CCLRC Deed") and to accept delivery of the CCLRC Deed on Buyer's behalf; <br />and <br />f. in connection with this transaction, Buyer hereby covenants that it will cause the repair or <br />rehabilitation of the structure(s) on the Real Property, if any, in accordance with all applicable <br />federal, state or local laws, provided, however, that the consummation of the sale/ purchase <br />and the transfer of the Real Property under this Agreement is not contingent upon such repair <br />or rehabilitation. Once property is unoccupied, if Buyer finds that it cannot repair or rehabilitate <br />the structure, it will transfer property back to the Seller for demolition. <br />2. Buyers Representations and Covenants. Buyer hereby represents and covenants to the CCLRC that: <br />a. it has full power and authority(i) to enter into and perform its obligations under this Agreement <br />and (ii) to acquire the Real Property in accordance with this Agreement; <br />b. upon the recording of the CCLRC Deed, Buyer shall be responsible for all obligations relating to <br />the Real Property, including, but not limited to, taxes and assessments that accrue from and <br />after the date of the recording of the CCLRC Deed, property condition, environmental <br />conditions and remediation, if any; and <br />c. the representations of Buyer set forth in the recital paragraph A above are true and correct as <br />of the date hereof. <br />CCLRC's Obligations. If the CCLRC is able to acquire the Real Property, the CCLRC hereby agrees: <br />a. to hold title to the Real Property for and through the CCLRC Holding Period; <br />b. to take such actions as are necessary to cause the Real Property to be exempt from real property <br />taxation during the CCLRC Holding Period as may be permitted by law; <br />c. to permit the Buyer, or its agents, contractors or subcontractors, by way of a license or <br />otherwise to enter into or upon the Real Property for due diligence purposes during the CCLRC <br />Holding Period; and <br />d. at closing, to provide Buyer with a written statement of the Holding Costs that are due and <br />payable to CCLRC, if any. <br />4. CCLRC's Representations. The CCLRC hereby represents to Buyer that: <br />a. it is duly organized as a not for profit community improvement corporation, is validly existing <br />and in good standing under the laws of the State of Ohio; <br />b. it has full power and authority to enter into and perform this Agreement to acquire the Real <br />Property under the terms hereof and to dispose of such Real Property in accordance with this <br />Agreement; and <br />c. the representations of the CCLRC set forth in the recital paragraph B above are true and correct <br />as of the date hereof. <br />RRM 2305.029 <br />