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8. Conditions. The following conditions shall apply to Purchaser's and Seller's rights and <br /> interests under this Contract: <br /> a. Environmental Inspection/Reporting. Purchaser shall,at its sole cost and expense,inspect <br /> and examine the Property along with a qualified Environmental Engineer and/or Environmental <br /> Abatement Contractor to determine environmental conditions present on or otherwise affecting the <br /> Property. Additionally,Purchaser may,at its sole cost and expense,cause a Phase I Environmental <br /> Assessment to be performed relative to the Property; Should the Property fail this inspection,then <br /> Purchaser shall have no obligation to close under this Agreement and Seller shall refund all sums <br /> advanced by Purchaser to Purchaser and neither party shall have any further rights under this <br /> Contract. <br /> b. Tangential Property. The purchase of the Property is conditioned upon Garfield Field <br /> Associates, LP, an Illinois limited partnership, an affiliate of Purchaser, securing the tangential <br /> property,legally described on Exhibit B.attached hereto,on or before the date Purchaser purchasers <br /> the Property. <br /> In the event that the conditions listed in items a.through b.above are not met to Purchaser's <br /> sole satisfaction,then Purchaser shall have no further obligation to close under this Contract <br /> and neither party shall have any further rights under this Contract for Sale of Real Estate. <br /> 9. Time of the Essence. Time is and shall be of the essence of this Contract. <br /> 10. Binding on Successors/Assignment. This Contract shall be binding on and shall inure to <br /> the benefit of the heirs,executors,administrators,personal representatives,trustees and assigns of the parties <br /> hereto. This Contract may be assigned by Purchaser with the prior consent of Seller. <br /> 11. Miscellaneous. <br /> a. This Contract shall be construed in accordance with the laws of the State of Illinois. <br /> b. If any provision of this Contract is held to be invalid, the remaining provisions of this <br /> Contract shall not be affected thereby,but shall continue in full force and effect. <br /> c. All notices, approvals and other communications required or permitted under the terms <br /> hereof shall be in writing and sent via U.S.mail and via email to the respective parties at the address <br /> and email addresses set forth as follows: <br /> If to Purchaser: Land SOCAYR,LLC <br /> Attn:Travis Yates, <br /> Executive Director <br /> 1244 S.4`°Street <br /> Louisville,KY 40203 <br /> (502)640-4159 <br /> With a copy to: Bywater Development Group,LLC <br /> Attn:J.David Dodson <br /> 315 Lemy Ferry Rd.,Suite 128 <br /> St.Louis,MO 63125 <br /> 2 <br /> WA 13521814.3 <br />