Common use of Sale of the Project Clause in Contracts

Sale of the Project. In consideration of this Agreement, Issuer hereby sells to City and City hereby purchases from Issuer, all of the right, title and interest of Issuer in the Project, subject to Permitted Encumbrances. Issuer agrees to execute a limited warranty deed to City and to deliver the same to City upon completion of the Project and no later than June 30, 2021. Said deed shall convey to City the fee simple title to the Project, free and clear from all encumbrances except Permitted Encumbrances. The Issuer shall execute such other instruments and documents as City may reasonably request to perfect the transfer of title to the Project to City.