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the Transfer Lot 3 Maximum Acceptance Standards Work, which shall trigger another Inspection <br /> Period under Section 1.4. For clarity, the parties confirm that the only acceptable work is either <br /> the (1) Transfer Lot 3 Minimum Acceptance Standards Work or(2) Transfer Lot 3 Minimum <br /> Acceptance Standards Work supplemented by the Transfer Lot 3 Maximum Acceptance <br /> Standards Work, and that work that is "in-between"the approved grade (plus or minus 1.0 feet) <br /> of(1) and (2) is not acceptable. <br /> 1.3 Representations and Warranties. Except as otherwise specifically stated in this <br /> Amendment, Owner hereby represents and warrants to the City as to the Transfer Lot Group as <br /> of the Effective Date and the applicable Transfer Lot Group Closing Date, and as to Transfer Lot <br /> 3 as of the Transfer Lot 3 Closing Date, that: <br /> (a) Title. Owner warrants that it has good and merchantable title in fee <br /> simple, free and clear, with full right to make the conveyances described herein. <br /> (b) Organization. Owner is a limited liability company duly formed and <br /> validly existing and in good standing under the laws of the State of Delaware and is qualified to <br /> do all things required of it under this Amendment. <br /> (c) Authority. Owner has the full right,title, authority, and capacity to <br /> execute this Amendment and to perform and consummate all of the transactions contemplated <br /> herein, and the individual(s)who, on Owner's behalf, execute and deliver this Amendment and <br /> all documents to be delivered to the City hereunder are and shall be duly authorized to do so. <br /> (d) No Leases. The Transfer Lots being conveyed on the applicable Transfer <br /> Lot Closing Date are not subject to any leases, tenancies, licenses, or rights of persons in <br /> possession. <br /> 8 <br />