Buyer has, or will have as of the Closing Date, the power and authority to enter into this Agreement and all Closing Documents to be executed by Buyer, to own the Property and to consummate the Transaction. This Agreement and all Closing Documents to be executed by Buyer are, or when delivered shall be, duly authorized, executed and delivered by Buyer and are valid, binding and enforceable obligations of Buyer, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights and by general principles of equity (whether applied in a proceeding at law or in equity). Each individual executing this Agreement and the Closing Documents on behalf of Buyer is duly authorized to do so.