Situation:
Development Company is presented by a broker with a project involving
the acquisition of a well located building built in 1937, with
antiquated systems and an unimpressive lobby.  The building is
substantially smaller than is permitted under current zoning, is fully
tenanted, and is owned by a third generation of the John Doe family. 
All of the present leases contain “demolition clauses” that require
the tenants to vacate if the building is to be demolished.  A large
firm is anxious to consolidate its scattered operations from several
locations into a new state of the art building and would be wiling to
lease a major part of the new building.

The Doe family has not decided whether to sell the property to
Development CO., or to enter into a long term ground lease, which will
require the demolition of the existing building and the construction
of the new building.  Development CO. is prepared to purchase or lease
the property.

Question:
If the transaction takes the form of sale from the John Doe family
to Development Co., what representations regarding the property might
Development Co. reasonably require the John Doe family to make in the
contract of sale?