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institute or threaten to institute condcrnnation proceeding,,; with respect to the Property during the <br />teriTi of this Contract. <br />4, Claims; hearings, Seller will notify Buyer promptly after Seller receives notice <br />of any claire or administrative hearing that is threatened, filed, or initiated before closing that <br />involves or directly affects the Property. <br />5. Cooperation. During the Inspection Period Seller will cooperate with Buyer to <br />process any requests for consents or approvals necessary for Buyer to operate the Property after <br />closing. Seller, however, makes no representations regarding the likelihood that any requests will <br />be approved. Buyer acknowledges that any applications filed with the City of San Marcos will be <br />subject to all applicable ordinances, rules, procedures and fees of the City of San Marcos. <br />6. No Recording. Buyer may not file this contractor any memorandum or notice of <br />this contract in the real property records of any county. If, however, Buyer records this contract or <br />a n.-iernorandurn or notice, Seller may terminate this contract and record a notice of termination, <br />J. Termination <br />Disj)osition oft ctrncsl Money after- Tcrinination <br />a. To Buyer. If Buyer terniinates this contract in accordance with any of <br />Buyer's rights to terminate, then unless Seller delivers notice of Seller's <br />objection to Title Company's release of the Earliest Money to Buyer within <br />five days after Buyer delivers Buyer's termination notice to Seller and `fide <br />Cornpany, Title Company is authorized, without any further authorization <br />from Seller, to deliver the Earliest Money to Buyer. <br />b. To Seller. If Seller terminates this contract in accordance with any of <br />Seller's rights to terminate, then unless Buyer delivers notice of Buyer's <br />objection to Title Company's release of the Earliest Money to Seller within <br />five days after Seller delivers Seller's termination notice to Buyer and Title <br />Company, Title Company is authorized, Without any ftirther authorization <br />froni Buyer, to pay and deliver the Earnest Money to Seller. <br />2. Dulies after 7erininalion. If this contract is terminated, Buyer will promptly <br />return to Seller all of Sellers records in Buyers possession or control. After return of the <br />documents and copies, neither party will have further duties or obligations to the OtIlCr Under this <br />contract, except for those obligations that cannot be or were not perfornied before termination of <br />this contract or that expressly survive termination of this contract. <br />K. Closing <br />I Clols,inu tach phase (Tract I purchase and Tract 2 purchase) of this transaction <br />will close at Title Company's offices at the Closing Date and Closing Time. At closing, the <br />following will Occur: <br />