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2.2.2 Phase I Homeownership Component. With respect to the Phase I <br /> Homeownership Component,Developer will submit to DHA for review and approval and the City <br /> for review a homeownership plan consistent with HUD requirements for submission by DHA to <br /> HUD for approval. DHA shall be responsible for making and prosecuting such submissions to HUD <br /> as provided for in Section 4.7 hereof. <br /> ARTICLE 3. REVITALIZATION RESPONSIBILITIES OF THE CITY <br /> In addition to its other obligations hereunder, the City shall have the following <br /> responsibilities with respect to the Revitalization. The Parties intend that any amendments regarding <br /> additional phases of the Revitalization shall be generally consistent with the following provisions. <br /> 3.1 City Parcels. The City either currently owns or is currently in the process of <br /> acquiring the land described on Exhibit H("City Parcels").The City will convey the City Parcels in <br /> fee simple to DHA prior to any conveyance from DHA to the Developer. If,due to reasons beyond <br /> the City's control,the City is unable to acquire all of the City Parcels which the City is in the process <br /> of acquiring as of the Effective Date, and, notwithstanding the City's commercially reasonable <br /> efforts to do so,the failure by the City to acquire any such portion of the City Parcels shall not be a <br /> default on the City's part under this Agreement. <br /> Upon conveyance to DHA,the City Parcels(or any portion thereof so conveyed)shall be in a <br /> Clean and Buildable Condition. For the purposes of the City Parcels, "Clean and Buildable <br /> Condition" shall mean that the requirements of Sections 3.1.1 through 3.1.4 shall have been met. <br /> The City shall convey the City Parcels to DHA within a time frame that meets the Revitalization <br /> Schedule and that allows the DHA to meet the Revitalization Schedule with regard to its conveyance <br /> of the Phase I Site to the Developer. The City's obligation to convey all or any portion of the City <br /> Parcels, as well as all of the other obligations,responsibilities and liabilities of the City hereunder, <br /> are subject to all Force Majeure Events. <br /> 3.1.1 State of City Title. The City shall provide title to the City Parcels to the <br /> DHA. Subject to the City's demolition obligations set forth herein, the City Parcels will be <br /> conveyed hereunder by the City in an"as is,where is and with all faults"condition. In the event that <br /> DHA,in consultation with the Developer,determines that title to any of the City Parcels is not good <br /> and marketable title,DHA may,at its election,(1)refuse to accept conveyance of such parcel or(2) <br /> accept conveyance of such parcel and take such actions as are necessary to render title to that parcel <br /> clean and marketable. Prior to any conveyance of City Parcels hereunder, the Developer and/or <br /> DHA shall receive from the City, at the City's expense, an ALTA survey, prepared by a surveyor <br /> licensed in the State of Illinois,showing the boundaries of the City Parcels, all recorded easements <br /> and rights-of-way affecting the City Parcels, all encroachments of improvements onto the City <br /> Parcels, and all improvements existing on any City Parcel after the City's demolition efforts on the <br /> City Parcels. The said survey shall contain a metes and bounds description, or lots and blocks <br /> description as applicable, shall refer to the title commitment(s) for the City Parcels, and shall be <br /> certified to DHA,the City and the Developer.The City shall further deliver to DHA,the Developer <br /> and the surveyor a title insurance policy,and prior thereto a title insurance commitment,issued by a <br /> national title insurance company reasonably acceptable to DHA and the Developer, together with <br /> Decatur Housing Authoriry Near North Impact Area Development Agreement <br /> Page 13 <br />