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for the City to pass said title to General and will furnish <br /> to escrow all monies up to a combined purchase price of <br /> $252, 500 plus agents local fee title policy, drawing and <br /> recording of documents and escrow charges for the City to <br /> acquire title to the hereinabove described Property B. General <br /> further agrees, without cost to City to demolish all buildings <br /> located on Property B and construct a parking facility to City <br /> specifications as described on Exhibit A attached hereto and <br /> by reference incorporated herein City will furnish General <br /> a letter of authority to do such demolition work and construct <br /> said parking facilities . <br /> 3. The City warrants to General that Property A is zoned C-3 <br /> and General agrees that any improvement made upon said Property <br /> A by General will conform to the requirements of C-3 zoning <br /> 4. The City upon close of Escrow shall remain in possession <br /> of Property A and continue use without cost to City of said <br /> property as a parking lot, with the exception of the 16 parking <br /> stalls in Property A currently leased to General by the City, <br /> until such time as Property B has been completed as a parking <br /> facility in accordance with specifications described in Exhibit <br /> A hereto, but in no case not later than November 15, 1969. If <br /> the parking facility described in Exhibit A is not ready for use <br /> by the City by November 15, 1969, a later date will be set by <br /> mutual agreement for City to terminate possession of Property A. <br /> Upon close of escrow and passage of title in Property A to <br /> General, all rental charged to General by the City for use of <br /> the above-mentioned 16 parking stalls will cease <br /> 5 . City shall arrange to provide General with appropriate <br /> certificates of insurance from the present Property A lessee, <br /> the Downtown Redlands Association, so as to indemnify and save <br /> -2- <br />