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b. Buyer's Closing Documents. On the Closing Date, Buyer will execute and/or <br /> deliver to Seller the following(collectively, "Buyer's Closing Documents): <br /> i. Purchase Price. The Purchase Price,by wire transfer. <br /> ii. Certificate of Real Estate Value. A Certificate of Real Estate Value. <br /> 4. CONTINGENCIES. The obligations of the Parties to perform under this Purchase <br /> Agreement are contingent upon the timely occurrence or satisfaction of each of the <br /> following conditions prior to or on the Closing Date: <br /> a. On the Closing Date, title to the Real Property shall be acceptable to Buyer <br /> subject to and in accordance with the provisions of Section 8 regarding title <br /> examination. <br /> b. The representations and warranties of Seller shall be true and correct in all <br /> material respects up through and including the Date of Closing. <br /> c. The Parties understand and agree that the purchase of the Property is contingent <br /> upon approval by the City Council of the City of Pequot Lakes. <br /> d. Prior to the transfer of title of the Real Property, the Buyer shall submit to the <br /> Seller plans and specifications for the development of the Real Property; no <br /> transfer shall be made unless and until such plans are approved in writing by the <br /> Seller. The detail of the plans and specifications shall be such as will enable the <br /> Seller to determine with reasonable certainty that the project on the Real Property <br /> is or will be in compliance with the law and will, if carried out, provide for the <br /> intended use. <br /> e. Buyer shall be satisfied with its due diligence investigations of the Real Property <br /> within ninety(90) days of the date of this Agreement(the"Inspection Period"). <br /> During the Investigation Period, Buyer shall have the right to conduct inspections <br /> of the Real Property, including but not limited to a Phase I investigation of the <br /> Real Property. <br /> The contingencies in this section are solely for the benefit of, and may at any time be <br /> waived by, the Party so benefitted. If any approval as provided herein is not obtained by <br /> the Closing Date, this Agreement shall be null and void. <br /> 5. SELLER REPRESENTATIONS,AS-IS. Seller represents and warrants to Buyer as of <br /> the date of this Agreement as follows: <br /> a. The are no leases or contracts in effect with respect to the Real Property that will <br /> survive the Closing, except as follows: <br /> i. The Real Property is subject to an agricultural lease that expires on <br /> 3 <br />