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• Office in Deed Book 118, page 91 (hereinafter referred to as "the Property"); together with all improvements, easements, and appurtenances thereunto belonging, upon the terms, conditions, and provisions set forth in this Contract. II. PURCHASE PRICE The purchase price ("Purchase Price") for the Property is Forty One Thousand Five Hundred Twenty Three and 00/100 Dollars ($41,523.00) emd 00,1190 Dollars , which will be payable to Seller as follows: (a) A deposit of Five Thousand Dollars ($5,000.00) has been paid by the Purchaser to the Seller with the signing of this Contract, the receipt of which is hereby acknowledged. At Closing, the amount of this Deposit shall be applied toward the Purchase Price. (b) The remaining portion of the Purchase Price shall be paid to Seller at Closing. III. SPECIAL CONDITIONS OR CONTINGENCIES • (A) The Purchaser's obligations under this Contract are expressly contingent upon all of the following conditions being met: (1) Purchaser's receipt of the results, satisfactory to it in its sole discretion, of a title examination to be performed by Purchaser at its own expense, and receipt of a title insurance commitment ("Commitment") issued by a company satisfactory to Purchaser, to insure title to the Property, including matters of survey, in Purchaser's name in the amount of the Purchase Price, and conditioned only upon recordation of the Deed, receipt of a satisfactory Lien Affidavit, and subject only to those easements, restrictions, covenants and/or conditions of record which will not materially and adversely affect Purchaser's use of the Property for its purposes. B. The Seller's obligations under this Contract are expressly contingent upon: (1) Conveyance of an adjoining parcel (shown on the attached survey plat as Lot A) by the Seller to Region Ten Community Services Board, Inc., with closing occurring simultaneously with the sale of Lots B and C to Purchaser. (2) Purchaser's written agreement to construct on Lot F and Lot C only single family homes of no less than 1,500 square feet of interior living space (exclusive of porch, garage, and covered decking space) per }rete itt area, at a density not to . Prepared by Charlottesville City Attorney's Office May 28, 1999 Page 2 of 5