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. <br /> preparation of deed, release of any existing mortgages and liens, (ii) the <br /> premium for the Title Insurance Policy except buyer's search, and (iii) <br /> one-half of any Closing or escrow fee. <br /> 2. Developer's Closing Costs. Developer shall pay (i) buyer's title search fee, <br /> (ii) recording fees for the Deed, and(iii) one-half of any Closing or escrow <br /> fee. <br /> 3. Other Costs and Expenses. Any other costs and charges in connection with <br /> the Closing shall be allocated between Developer and Municipality, as is <br /> customary in the local area of the Premises. <br /> E. TAXES AND ASSESSMENTS. At or before Closing, Municipality shall pay all <br /> real estate t�es and installments of special assessments for which bills have <br /> issued and shall deliver proof of same. All real estate t�es and installments of <br /> special assessments which are a lien on the Premises but for which bills have not <br /> issued shall be prorated at Closing based upon the latest available information. <br /> F. CONDITIONS PRECEDENT AND RELATED COVENANTS. <br /> Developer's obligations to pay the Purchase Price and close all transactions <br /> pursuant to this Agreement are subject to the following occurring no later than the <br /> specified dates, or where no date is specified, no later than Closing. Should the <br /> following not occur, the Developer may terminate this Agreement and thereby <br /> have no further obligations under this Agreement: <br /> 1. Developer's satisfaction with the results of its due diligence. <br /> 2. Performance of Municipality's Deliveries as required in Section 1.C.3, and <br /> Section 1.G; <br /> 3. The satisfaction of Municipality's obligations and the accuracy and <br /> fulfillment of the Municipality's warranties and representations described <br /> in Sections 1 G, 1 H, and 1 J herein; <br /> 4. Municipality shall have used its best efforts to acquire and demolish the <br /> property located at the southeast corner of the intersection of South Main <br /> Street and North Street with a street address of 368 N. Main Street, <br /> Decatur, Illinois as legally described on EXHIBIT B hereto. <br /> 5. Developer's receipt of financing in order to acquire and complete all <br /> anticipated construction on the building from a lender of Developer's <br /> choice at an interest rate of no greater than Sixand one quarter percent <br /> (6.25%). <br /> 6. Municipality's construction of a parking lot (the "Parking Lot") adjacent <br /> to and to the west of the Premises as shown on the Site Plan attached <br /> - 5 - <br />