Common use of Title Evidence Clause in Contracts

Title Evidence. Within twenty (20) days after the Effective Date, Buyer will obtain, at Buyer’s cost and expense, an ALTA Form B Commitment for an owner’s title insurance policy (the “Commitment”) issued by Chicago Title Insurance Company (the “Title Company”) through its agent, Holland & Knight LLP, in the face amount of the Purchase Price, evidencing whether Seller is vested with good and marketable record fee simple title to the Land, The Commitment will be accompanied by true, complete and legible copies of all documents creating or evidencing any exception to title noted in the Commitment. A copy of the Commitment will be delivered to Seller. The Commitment will evidence the requirements subject to which Title Company will insure in Buyer good and marketable record fee simple title to the Land subject only to those matters to be approved by Buyer during the Inspection Period (the “Permitted Exceptions”). If required by Buyer, the Commitment will provide that the policy to be issued pursuant thereto shall be accompanied by comprehensive, survey, access, patent, water and/or contiguity endorsements. In the event that the Commitment discloses that the title to the Land is unmarketable or if the Commitment otherwise discloses exceptions objectionable to Buyer (other than current year’s taxes and any liens and encumbrances to be discharged by Seller through the payment of money at closing), Buyer may notify Seller of that fact in writing prior to the end of the Inspection Period. Such written notice will specify those particular liens, encumbrances, exceptions, qualifications or defects listed in the Commitment which are not acceptable to Buyer (any such liens, encumbrances, exceptions, qualifications or defects will hereinafter be referred to as “Title Defects”). Within ten (10) days of receipt of said notice, Seller shall notify Buyer whether it has elected to attempt to cure the Title Defects, or to terminate this Contract. If Seller elects to attempt to cure the Title Defects, he shall have until five (5) days before the last day of the Inspection Period to bring about the record cure or elimination of the Title Defects to the reasonable satisfaction of Buyer, its attorneys and Title Company in such manner as to permit Title Company to either (a) endorse the Commitment so as to delete the Title Defects from the Commitment or (b) issue an endorsement or a new commitment for title insurance which meets the foregoing requirements of this Paragraph 5 and does not contain exceptions for the Title Defects. If Seller is successful in curing or eliminating the Title Defects within said time period, the closing hereunder will take place on the date hereinafter specified in Paragraph 9 of this Contract. If Seller is unable to cure or eliminate the Title Defects, or initially or subsequently elects not to attempt to cure or eliminate the Title Defects, he shall so notify Buyer in writing and Buyer shall have ten (10) days from receipt of said notice to elect either to (a) accept title subject to such exceptions; or (b) terminate this Contract. In the event that Buyer elects to terminate this Contract due to the existence of uncured Title Defects by giving written notice of that fact to Seller, the Deposit, with interest, shall be refunded by Buyer and all rights, obligations, and liabilities of the parties under this Contract will cease, terminate and be null and void. The right of the Buyer to terminate this Contract on account of uncured Title Defects is supplementary and in addition to Buyer’s right to terminate during the Inspection Period, on the basis specified in Paragraphs 7 and 8 below.

Title Evidence. Within twenty Prior to closing of the Loan, Borrower shall provide to Lender (20i) days after a Commitment for Title Insurance, together with copies of all documents listed in Schedule (or part) I and all documents listed in Schedule (or Part) II of the Effective DateCommitment for Title Insurance, Buyer will obtain(ii) a proforma loan policy of title insurance, at Buyertogether with proforma endorsements required by Lender, (iii) a Closing Protection Letter from the title insurance company which is to provide a loan policy of title insurance covering Lender’s cost and expenseMortgage, (iv) an ALTA Form B Commitment for an owner’s Loan Policy of Title Insurance 2006, in form and substance acceptable to Lender, issued by a title insurance policy (the “Commitment”) issued by Chicago Title Insurance Company (the “Title Company”) through its agent, Holland & Knight LLP, in the face amount of the Purchase Pricecompany acceptable to Lender, evidencing whether Seller is vested with that Borrower has good and marketable record fee simple title to the LandMortgaged Property, The Commitment will be accompanied by true, complete and legible copies of all documents creating or evidencing any exception to title noted in the Commitment. A copy of the Commitment will be delivered to Seller. The Commitment will evidence the requirements subject to which Title Company will insure in Buyer good and marketable record fee simple title to the Land subject only to those matters described in Exhibit “B” attached to the Mortgage. The loan policy of title insurance shall not include an exception based upon mechanics’ and materialmen’s liens, or any exceptions based on discrepancies, conflicts in boundary lines, shortage in area, encroachments or other facts which would be approved disclosed by Buyer during the Inspection Period (the “Permitted Exceptions”)a proper survey. If required by Buyer, the Commitment will provide that the The loan policy to be issued pursuant thereto shall of title insurance must be accompanied by comprehensivesuch endorsements thereto as may be required by Lender or its counsel, surveyincluding, accessbut not limited to, patentan access and entry endorsement, water and/or a comprehensive endorsement, a contiguity endorsementsendorsement, an endorsement deleting the arbitration provision, an environmental lien endorsement, a subdivision endorsement, a survey endorsement, a variable rate endorsement, and a zoning endorsement. In The premiums for the event that the Commitment discloses that the loan policy of title to the Land is unmarketable or if the Commitment otherwise discloses exceptions objectionable to Buyer (other than current year’s taxes insurance and any liens and encumbrances to all endorsements shall be discharged paid by Seller through the payment of money at closing), Buyer may notify Seller of that fact in writing Borrower prior to or at the end time of the Inspection Period. Such written notice will specify those particular liens, encumbrances, exceptions, qualifications or defects listed in advancement under the Commitment which are not acceptable to Buyer (any such liens, encumbrances, exceptions, qualifications or defects will hereinafter be referred to as “Title Defects”). Within ten (10) days of receipt of said notice, Seller shall notify Buyer whether it has elected to attempt to cure the Title Defects, or to terminate this Contract. If Seller elects to attempt to cure the Title Defects, he shall have until five (5) days before the last day of the Inspection Period to bring about the record cure or elimination of the Title Defects to the reasonable satisfaction of Buyer, its attorneys and Title Company in such manner as to permit Title Company to either (a) endorse the Commitment so as to delete the Title Defects from the Commitment or (b) issue an endorsement or a new commitment for title insurance which meets the foregoing requirements of this Paragraph 5 and does not contain exceptions for the Title Defects. If Seller is successful in curing or eliminating the Title Defects within said time period, the closing hereunder will take place on the date hereinafter specified in Paragraph 9 of this Contract. If Seller is unable to cure or eliminate the Title Defects, or initially or subsequently elects not to attempt to cure or eliminate the Title Defects, he shall so notify Buyer in writing and Buyer shall have ten (10) days from receipt of said notice to elect either to (a) accept title subject to such exceptions; or (b) terminate this Contract. In the event that Buyer elects to terminate this Contract due to the existence of uncured Title Defects by giving written notice of that fact to Seller, the Deposit, with interest, shall be refunded by Buyer and all rights, obligations, and liabilities of the parties under this Contract will cease, terminate and be null and void. The right of the Buyer to terminate this Contract on account of uncured Title Defects is supplementary and in addition to Buyer’s right to terminate during the Inspection Period, on the basis specified in Paragraphs 7 and 8 belowNote.

Title Evidence. (a) Within twenty fifteen (2015) days from the Effective Date (as defined below), Seller shall furnish or cause to be furnished to the Buyer for its review and to the surveyor selected by Buyer, a title insurance commitment (the "Title Commitment") accompanied by legible copies of all documents referenced in such Title Commitment as exceptions to the Seller’s title. The Title Commitment shall be issued by Xxxxxxx Title (the "Title Company") by and through the Escrow Agent, committing to issue to Buyer an Owner’s Title Insurance Policy in the amount of the Purchase Price (the "Title Policy") insuring marketable title to the Property in Buyer. The premium for such Policy, including the attorney’s fees for examination of the abstract, shall be paid by Buyer. The mechanics and materialmen’s liens exception shall be deleted from such Policy. (b) Seller shall provide Buyer with the ALTA survey in Seller’s possession. Buyer shall be permitted to prepare its own ALTA survey, or otherwise update the ALTA survey provided by Seller, at Buyer’s cost (the “Survey”). The Survey of the Property shall be prepared by a licensed surveyor, and shall contain such detail and certifications to permit the survey exceptions to be deleted from the Policy. Any encroachment shown on the Survey shall be deemed to be a title defect, unless the Title Company agrees to provide affirmative coverage against loss arising from any final court order or judgment, which denies the right to maintain the existing Improvements on the Land because of such encroachment. (c) Seller shall make existing title evidence (base abstract of title or an owner’s title insurance policy) available to the Escrow Agent within ten (10) days after the Effective Date, . (d) Upon delivery to Buyer will obtain, at Buyer’s cost and expense, an ALTA Form B Commitment for an owner’s title insurance policy (the “Commitment”) issued by Chicago Title Insurance Company (the “Title Company”) through its agent, Holland & Knight LLP, in the face amount of the Purchase Price, evidencing whether Seller is vested with good and marketable record fee simple title to the Land, The Commitment will be accompanied by true, complete and legible copies of all documents creating or evidencing any exception to title noted in the Commitment. A copy last of the current Title Commitment will be delivered to Seller. The Commitment will evidence the requirements subject to which Title Company will insure in Buyer good and marketable record fee simple title to the Land subject only to those matters to be approved by Buyer during the Inspection Period (the “Permitted Exceptions”). If required by Buyer, the Commitment will provide that the policy to be issued pursuant thereto shall be accompanied by comprehensive, survey, access, patent, water and/or contiguity endorsements. In the event that the Commitment discloses that the title to the Land is unmarketable or if the Commitment otherwise discloses exceptions objectionable to Buyer (other than current year’s taxes and any liens and encumbrances to be discharged by Seller through the payment of money at closing), Buyer may notify Seller of that fact in writing prior to the end of the Inspection Period. Such written notice will specify those particular liens, encumbrances, exceptions, qualifications or defects listed in the Commitment which are not acceptable to Buyer (any such liens, encumbrances, exceptions, qualifications or defects will hereinafter be referred to as “Title Defects”). Within ten (10) days of receipt of said notice, Seller shall notify Buyer whether it has elected to attempt to cure the Title Defects, or to terminate this Contract. If Seller elects to attempt to cure the Title Defects, he shall have until five (5) days before the last day of the Inspection Period to bring about the record cure or elimination of the Title Defects to the reasonable satisfaction of Buyer, its attorneys and Title Company in such manner as to permit Title Company to either (a) endorse the Commitment so as to delete the Title Defects from the Commitment or (b) issue an endorsement or a new commitment for title insurance which meets the foregoing requirements of this Paragraph 5 and does not contain exceptions for the Title DefectsPolicy or the Survey, Buyer shall have a reasonable time, not to exceed Fourteen (14) days, to examine same and return same to Seller with a written report specifying any objections or defects in the title or such right to object shall be deemed waived. If Seller shall have Fourteen (14) days after receipt of such report to correct such defects and perfect title unless such time is successful extended in curing or eliminating the Title Defects within said time period, the closing hereunder will take place on the date hereinafter specified in Paragraph 9 of this Contractwriting by Buyer. If Seller is unable or unwilling to cure or eliminate the Title Defectsany defects within such period, or initially or subsequently elects not to attempt to cure or eliminate the Title Defectsthen unless Buyer waives such defects in writing, he shall so notify Buyer in writing and Buyer shall have ten (10) days from receipt of said notice to elect either to (a) accept title subject to such exceptions; or (b) terminate this Contract. In the event that Buyer elects to terminate this Contract due to the existence of uncured Title Defects by giving written notice of that fact to Seller, the Deposit, with interest, shall be refunded by Buyer and all rights, obligations, and liabilities of the parties under this Contract will ceaseterminate. (e) The title to the Property shall be conveyed to Buyer by Special Warranty Deed in recordable form. Upon Closing, terminate and be null and void. The right the existing abstract of title shall become the Buyer to terminate this Contract on account property of uncured Title Defects is supplementary and in addition to Buyer’s right to terminate during the Inspection Period, on the basis specified in Paragraphs 7 and 8 below.

Title Evidence. Within twenty (20a) days after the Effective Date, Buyer will obtainSeller shall, at Buyer’s sole cost and expense, an ALTA Form B Commitment cause to be issued and delivered to Buyer, within 20 days after the date of this Agreement title commitments for an owner’s title insurance policy the Real Property (collectively, the “Title Commitment”) issued by Chicago (1) with respect to the Real Property in Huron, South Dakota, Huron Title, and (2) with respect to the Real Property in Aberdeen, South Dakota, Title Insurance Company of Dakota (collectively, the “Title Company”) through its agent, Holland & Knight LLP), in which Title Company agrees to issue to Buyer a 2006 ALTA Owner’s Title Insurance Policy and Leasehold Title Insurance Policy for with respect to the face Real Property with full extended coverage, deleting standard exceptions, including but not limited those general standard exceptions based on (i) mechanics or materialmen’s liens, (ii) matters affecting title that may be disclosed by an accurate survey, and (iii) the rights of parties in possession except tenants in possession, and including endorsements for zoning, survey, owner’s comprehensive, access, minerals, deletion of mandatory arbitration, subdivision, contiguity, tax parcel, environmental lien and any other endorsements reasonably requested by Buyer and such additional affirmative coverage as Buyer may reasonably request (collectively, the “Owner’s Title Policy”). In addition, Seller shall, at Buyer’s sole cost and expense, cause to be issued and delivered to Buyer, within 45 days after the date of this Agreement current ALTA/NSPS surveys (the “Surveys”) of the Real Property. The Title Commitment must be accompanied by copies of all recorded documents affecting the Real Property as reflected in the Title Commitment, and included searches for real estate taxes, pending and levied special assessments, judgments, bankruptcies and state and federal tax liens (collectively, the “Title Documents” and together with the Title Commitment and the Surveys shall be collectively referred to as the “Title Evidence”). The Owner’s Title Policy insure title subject to the Permitted Exceptions (as hereinafter defined) and in the amount of the Purchase Price, evidencing whether Seller is vested with good and marketable record fee simple title Price allocated to the Land, The Commitment will be accompanied by true, complete Real Property. Buyer and legible copies of all documents creating or evidencing any exception to title noted in the Commitment. A copy Seller shall each pay for one-half of the Commitment will be delivered to Seller. The Commitment will evidence cost of the requirements subject to which premium of the Owner’s Title Company will insure in Buyer good and marketable record fee simple title to the Land subject only to those matters to be approved by Buyer during the Inspection Period (the “Permitted Exceptions”). If required by Buyer, the Commitment will provide that the policy Policy to be issued pursuant thereto at Closing, and Buyer shall pay for the additional cost of any endorsements thereto. Buyer shall pay for the cost of the premium of any Loan Policies of Title Insurance to be issued at Closing in connection with Buyer’s financing, including any endorsements thereto. (b) Within 20 days after receiving the last of the Title Evidence, Buyer will make written objections (“Objections”) to the form and/or contents of the Title Evidence. Buyer’s failure to make Objections within such time period will constitute waiver of the Objections. Any matter shown on such Title Evidence and not objected to by Buyer shall be accompanied included within the definition of a “Permitted Exception” hereunder. Seller will have 60 days after receipt of the Objections to cure the Objections, during which period the Closing Date will be postponed if necessary. Seller shall use its best efforts to correct any Objections. To the extent an Objection can be satisfied by comprehensive, survey, access, patent, water and/or contiguity endorsements. In the event that the Commitment discloses that the title to the Land is unmarketable or if the Commitment otherwise discloses exceptions objectionable to Buyer (other than current year’s taxes and any liens and encumbrances to be discharged by Seller through the payment of money money, Buyer shall have the right to apply a portion of the cash payable to Seller at closing)the Closing to the satisfaction of such Objection and the amount so applied shall reduce the amount of cash payable to Seller at the Closing. If the Objections are not cured within such 60 day period, Buyer will have the option to do any of the following: 60 4832-2222-1976\19 i) Withhold from the Purchase Price an amount which, in the reasonable judgment of the Title Company, is sufficient to assure cure of the Objections. Any amount so withheld will be placed in escrow with the Title Company, pending such cure. If Seller does not cure such Objections within 90 days after such escrow is established, Buyer may notify Seller then cure such Objections and charge the costs of that fact in writing prior such cure (including reasonable attorneys’ fees) against the escrowed amount. If such escrow is established, the parties agree to the end of the Inspection Period. Such written notice will specify those particular liens, encumbrances, exceptions, qualifications or defects listed in the Commitment which are not acceptable to Buyer (any execute and deliver such liens, encumbrances, exceptions, qualifications or defects will hereinafter documents as may be referred to as “Title Defects”). Within ten (10) days of receipt of said notice, Seller shall notify Buyer whether it has elected to attempt to cure reasonably required by the Title DefectsCompany, or and Seller agree to terminate this Contract. If Seller elects to attempt to cure pay the Title Defects, he shall have until five (5) days before the last day of the Inspection Period to bring about the record cure or elimination charges of the Title Defects to the reasonable satisfaction of Buyer, its attorneys and Title Company in such manner as to permit Title Company to either (acreate and administer the escrow; or ii) endorse Terminate this Agreement, or iii) Waive the Commitment so as objections and proceed to delete the Title Defects from the Commitment or (b) issue an endorsement or a new commitment for title insurance which meets the foregoing requirements of this Paragraph 5 and does not contain exceptions for the Title Defects. If Seller is successful in curing or eliminating the Title Defects within said time period, the closing hereunder will take place on the date hereinafter specified in Paragraph 9 of this Contract. If Seller is unable to cure or eliminate the Title Defects, or initially or subsequently elects not to attempt to cure or eliminate the Title Defects, he shall so notify Buyer in writing and Buyer shall have ten (10) days from receipt of said notice to elect either to (a) accept title subject to such exceptions; or (b) terminate this Contract. In the event that Buyer elects to terminate this Contract due to the existence of uncured Title Defects by giving written notice of that fact to Seller, the Deposit, with interest, shall be refunded by Buyer and all rights, obligations, and liabilities of the parties under this Contract will cease, terminate and be null and void. The right of the Buyer to terminate this Contract on account of uncured Title Defects is supplementary and in addition to Buyer’s right to terminate during the Inspection Period, on the basis specified in Paragraphs 7 and 8 belowclose.

Title Evidence. Within twenty Survey and Other Searches. (20a) days after the Effective Date, Buyer will obtainPurchaser, at Buyer’s Purchaser's cost and expense, an ALTA Form B Commitment may obtain prior to Closing: (i) A commitment for an owner’s 's title insurance policy (the “Commitment”) issued by Chicago Title Insurance Company (the “Title Company”) through its agent, Holland & Knight LLP, from a title company in the face amount of the Purchase Pricepurchase price, evidencing whether Seller is vested with good covering title to the Property and marketable record verifying that fee simple title to the Property is vested in Seller, subject only to the Permitted Exceptions (as defined in the Option Agreement). (ii) A survey of the Land, The Commitment will be accompanied certified by truea licensed surveyor in the State of Connecticut. Such survey shall show all improvements on the Land, complete all easements, rights of way and legible copies building lines affecting the Land and shall verify that none of all documents creating the following conditions exists (collectively, "Survey Defects"): (x) encroachments by the improvements over the lot lines, building lines, easements or evidencing rights of way, (y) encroachments by improvements on adjoining properties onto the Land, or (z) other survey defects exist that are unacceptable by Purchaser in Purchaser's sole discretion (collectively, "Survey Defects"). (iii) Searches of such records as Purchaser deems necessary confirming the absence of security interests, judgments, tax liens and bankruptcy proceedings affecting Seller's interest in the Property. (b) If the title commitment, record searches or survey disclose either unpermitted exceptions (i.e., any exception to title noted other than Permitted Exceptions), Survey Defects or other matters that render title unmarketable, Seller, at Seller's sole cost and expense, shall have thirty (30) days after notice from Purchaser to Seller of such unpermitted exceptions, Survey Defects or other matters that render title unmarketable, to have such unpermitted exceptions, Survey Defects and other matters either removed or corrected or, at Seller's sole cost and expense, to have the title insurer commit to insure against loss or damage that may be occasioned by such unpermitted exceptions or Survey Defects and, in such event, the Commitment. A copy time of Closing shall be thirty-five (35) days after delivery of the Commitment will be delivered to Seller. The Commitment will evidence commitment or the requirements subject to which Title Company will insure time specified in Buyer good and marketable record fee simple title to the Land subject only to those matters to be approved by Buyer during the Inspection Period (the “Permitted Exceptions”). If required by BuyerParagraph 2, the Commitment will provide that the policy to be issued pursuant thereto shall be accompanied by comprehensive, survey, access, patent, water and/or contiguity endorsements. In the event that the Commitment discloses that the title to the Land whichever is unmarketable or if the Commitment otherwise discloses exceptions objectionable to Buyer (other than current year’s taxes and any liens and encumbrances to be discharged by Seller through the payment of money at closing), Buyer may notify Seller of that fact in writing prior to the end of the Inspection Period. Such written notice will specify those particular liens, encumbrances, exceptions, qualifications or defects listed in the Commitment which are not acceptable to Buyer (any such liens, encumbrances, exceptions, qualifications or defects will hereinafter be referred to as “Title Defects”). Within ten (10) days of receipt of said notice, Seller shall notify Buyer whether it has elected to attempt to cure the Title Defects, or to terminate this Contractlater. If Seller elects fails to attempt have the unpermitted exceptions removed or to cure correct any Survey Defects or have the Title title insurer commit to insure against loss or damage that may be occasioned by such unpermitted exceptions or Survey Defects, he within the specified time, Purchaser may terminate this Agreement or may elect, upon notice to Seller to take title as it then is with the right to deduct from the Purchase Price liens, encumbrances or other unpermitted exceptions that can be quantified to a definite or ascertainable amount or to require Seller's compliance with the title requirements (excluding Survey Defects), in which event Purchaser shall have until five (5) days before the last day of the Inspection Period to bring about the record cure or elimination of the Title Defects to the reasonable satisfaction of Buyer, all its attorneys remedies at both law and Title Company in such manner as to permit Title Company to either (a) endorse the Commitment so as to delete the Title Defects from the Commitment or (b) issue an endorsement or a new commitment for title insurance which meets the foregoing requirements of this Paragraph 5 and does not contain exceptions for the Title Defects. If Seller is successful in curing or eliminating the Title Defects within said time period, the closing hereunder will take place on the date hereinafter specified in Paragraph 9 of this Contract. If Seller is unable to cure or eliminate the Title Defects, or initially or subsequently elects not to attempt to cure or eliminate the Title Defects, he shall so notify Buyer in writing and Buyer shall have ten (10) days from receipt of said notice to elect either to (a) accept title subject to such exceptions; or (b) terminate this Contract. In the event that Buyer elects to terminate this Contract due to the existence of uncured Title Defects by giving written notice of that fact to Seller, the Deposit, with interest, shall be refunded by Buyer and all rights, obligations, and liabilities of the parties under this Contract will cease, terminate and be null and void. The right of the Buyer to terminate this Contract on account of uncured Title Defects is supplementary and in addition to Buyer’s right to terminate during the Inspection Period, on the basis specified in Paragraphs 7 and 8 belowat equity.

Title Evidence. Within twenty Borrower shall provide to Lender (20i) days after the Effective Date, Buyer will obtain, at Buyer’s cost and expense, an ALTA Form B a Commitment for an owner’s title insurance Title Insurance for the issuance of a lender or mortgagee policy covering the Mortgaged Property, (the “Commitment”a) issued by Chicago Title Insurance Company (in an amount equal to the “Title Company”) through its agent, Holland & Knight LLP, in the face maximum principal amount of the Purchase PriceLoan, (b) naming Lender as the proposed insured and containing only exceptions as are expressly approved in writing by Lender (and all requirements for such commitment shall have been satisfied and the premium therefor shall have been paid by Borrower), together with copies of all documents listed in Schedule (or Part) I and all documents listed in Schedule (or Part) II of the Commitment for Title Insurance, (ii) a proforma loan policy of title insurance complying with the foregoing requirements of Lender, together with proforma endorsements required by Lender, (iii) a Closing Protection Letter from the title insurance company which is to provide a loan policy of title insurance covering Lender’s Mortgage, (iv) an ALTA Loan Policy of Title Insurance 2006, in form and substance acceptable to Lender, issued by a title insurance company acceptable to Lender, evidencing whether Seller is vested with that Borrower has good and marketable record fee simple title to the LandMortgaged Property and that the Mortgage will constitute a valid first Mortgage on the Mortgaged Property, The Commitment will be accompanied by true, complete and legible copies of all documents creating or evidencing any exception to title noted in the Commitment. A copy of the Commitment will be delivered to Seller. The Commitment will evidence the requirements subject to which Title Company will insure in Buyer good and marketable record fee simple title to the Land subject only to those matters described in Exhibit “B” attached to the Mortgage. The loan policy of title insurance shall not include an exception based upon discrepancies, conflicts in boundary lines, shortage in area, encroachments or other facts which would be approved disclosed by Buyer during a proper survey. Any exception based upon mechanics’ and materialmen’s liens shall be expressly limited to the Inspection Period (portions of the “Permitted Exceptions”)Mortgaged Property upon which the New Parking Lot, Building 3 and the Gymnasium Expansion are being constructed, and shall not in any event apply to the Building 4 and Parking Garage Property. If required by Buyer, the Commitment will provide that the The loan policy to be issued pursuant thereto shall of title insurance must be accompanied by comprehensivesuch endorsements thereto as may be required by Lender or its counsel, surveyincluding, accessbut not limited to, patentan access and entry endorsement, water and/or a comprehensive endorsement, a contiguity endorsementsendorsement, an endorsement deleting the arbitration provision, an environmental lien endorsement, a subdivision endorsement, a survey endorsement, a variable rate endorsement, and a zoning endorsement. In The premiums for the event that the Commitment discloses that the loan policy of title to the Land is unmarketable or if the Commitment otherwise discloses exceptions objectionable to Buyer (other than current year’s taxes insurance and any liens and encumbrances to all endorsements shall be discharged paid by Seller through the payment of money at closing), Buyer may notify Seller of that fact in writing Borrower prior to or at the end time of the Inspection Period. Such written notice will specify those particular liens, encumbrances, exceptions, qualifications or defects listed in initial advance under the Commitment which are not acceptable to Buyer (any such liens, encumbrances, exceptions, qualifications or defects will hereinafter be referred to as “Title Defects”). Within ten (10) days of receipt of said notice, Seller shall notify Buyer whether it has elected to attempt to cure the Title Defects, or to terminate this Contract. If Seller elects to attempt to cure the Title Defects, he shall have until five (5) days before the last day of the Inspection Period to bring about the record cure or elimination of the Title Defects to the reasonable satisfaction of Buyer, its attorneys and Title Company in such manner as to permit Title Company to either (a) endorse the Commitment so as to delete the Title Defects from the Commitment or (b) issue an endorsement or a new commitment for title insurance which meets the foregoing requirements of this Paragraph 5 and does not contain exceptions for the Title Defects. If Seller is successful in curing or eliminating the Title Defects within said time period, the closing hereunder will take place on the date hereinafter specified in Paragraph 9 of this Contract. If Seller is unable to cure or eliminate the Title Defects, or initially or subsequently elects not to attempt to cure or eliminate the Title Defects, he shall so notify Buyer in writing and Buyer shall have ten (10) days from receipt of said notice to elect either to (a) accept title subject to such exceptions; or (b) terminate this Contract. In the event that Buyer elects to terminate this Contract due to the existence of uncured Title Defects by giving written notice of that fact to Seller, the Deposit, with interest, shall be refunded by Buyer and all rights, obligations, and liabilities of the parties under this Contract will cease, terminate and be null and void. The right of the Buyer to terminate this Contract on account of uncured Title Defects is supplementary and in addition to Buyer’s right to terminate during the Inspection Period, on the basis specified in Paragraphs 7 and 8 belowNote.

Title Evidence. Within twenty (20a) days after the Effective Date, Buyer will obtainTitle Commitment and Survey. Purchaser has obtained, at BuyerSeller’s cost and expense, an ALTA Form B Commitment a title commitment for an owner’s title insurance policy (the “Commitment”) Real Estate issued by Chicago Guaranty Commercial Title, Inc., as agent for Old Republic National Title Insurance Company (the ““ Title CompanyCompany ”) through its agentdated effective as of January 6, Holland & Knight LLP2016 (“ Title Commitment ”), wherein Title Company agrees to issue to Purchaser an ALTA Owner’s Title Insurance Policy (current standard form) for the Real Estate with coverage, deleting standard exceptions, including but not limited those standard exceptions based on (i) mechanics or materialmen’s liens, (ii) matters affecting title that may be disclosed by an accurate survey, and (iii) the rights of parties in possession (“ Title Policy ”). The Title Commitment was accompanied by copies of all recorded documents affecting the Real Estate as reflected in the face Title Commitment, and included searches for real estate taxes, pending and levied special assessments, judgments, bankruptcies and state and federal tax liens. Purchaser has also obtained a survey of the Real Estate dated February 9, 2016, prepared by Xxxx, Field & Xxxxx, Inc. (“ Surveyor ”) (the “ Survey ”; hereinafter, the Survey together with the Title Commitment shall be collectively referred to as the “ Title Evidence ”). The Title Policy shall include such endorsements as required by the Purchaser and insure title subject to the Permitted Exceptions (as hereinafter defined) and in the full amount of the Purchase Price, evidencing whether Seller is vested with good and marketable record fee simple title Price allocated to the Land, Real Estate. The Commitment will be accompanied by true, complete Purchaser shall pay the cost of the premium of the Title Policy and legible copies any endorsements and the deletion of the standard exceptions. (b) Purchaser’s Acceptance of Permitted Exceptions. Purchaser acknowledges it has received and reviewed the Title Evidence. Purchaser hereby accepts any and all documents creating or evidencing any exception to title noted matters reflected in the CommitmentTitle Evidence (excluding Seller Real Property Liens) (collectively, the “ Permitted Exceptions ”) and waives Purchaser’s rights to object thereto. A copy of Purchaser shall have no right to further object to, or terminate this Agreement because of, any Permitted Exceptions, and this Agreement shall continue in full force and effect, and Purchaser shall close the Commitment will be delivered to Sellertransaction contemplated hereby in accordance with the terms hereof. The Commitment will evidence Seller shall, however, cause any voluntary liens placed on the requirements subject to which Title Company will insure in Buyer good and marketable record fee simple title to Real Estate caused solely by the Land subject only to those matters Seller after the date of this Agreement to be approved by Buyer during released, at Closing (collectively, the Inspection Period (the “Permitted Exceptions“ Seller Real Property Liens ”). If required by BuyerPurchaser may, at its expense, obtain from the Title Company an update to the Title Commitment (“ Updated Commitment ”) or obtain from the Surveyor a current survey of the Real Estate (“ Updated Survey ”; hereinafter, together with the Updated Commitment, the Commitment will provide that the policy to be issued pursuant thereto shall be accompanied by comprehensive, survey, access, patent, water and/or contiguity endorsements. In the event that the Commitment discloses that the title to the Land is unmarketable or if the Commitment otherwise discloses exceptions objectionable to Buyer (other than current year’s taxes and any liens and encumbrances to be discharged by Seller through the payment of money at closing), Buyer may notify Seller of that fact in writing prior to the end of the Inspection Period. Such written notice will specify those particular liens, encumbrances, exceptions, qualifications or defects listed in the Commitment which are not acceptable to Buyer (any such liens, encumbrances, exceptions, qualifications or defects will hereinafter be referred to as ““ Updated Title DefectsEvidence ”). Within ten (10) days of receipt of said notice, Seller Purchaser shall notify Buyer whether it has elected have no right to attempt to cure the Title Defectsobject to, or to terminate this Contract. If Seller elects to attempt to cure Agreement because of, any additional items disclosed in the Updated Title Defects, he shall have until five (5) days before Evidence unless such items materially and adversely affect the last day Real Estate or Purchaser’s proposed use of the Inspection Period to bring about the record cure or elimination of the Title Defects to the reasonable satisfaction of Buyer, its attorneys and Title Company in such manner as to permit Title Company to either (a) endorse the Commitment so as to delete the Title Defects from the Commitment or (b) issue an endorsement or a new commitment for title insurance which meets the foregoing requirements of this Paragraph 5 and does not contain exceptions for the Title Defects. If Seller is successful in curing or eliminating the Title Defects within said time period, the closing hereunder will take place on the date hereinafter specified in Paragraph 9 of this Contract. If Seller is unable to cure or eliminate the Title Defects, or initially or subsequently elects not to attempt to cure or eliminate the Title Defects, he shall so notify Buyer in writing and Buyer shall have ten (10) days from receipt of said notice to elect either to (a) accept title subject to such exceptions; or (b) terminate this Contract. In the event that Buyer elects to terminate this Contract due to the existence of uncured Title Defects by giving written notice of that fact to Seller, the Deposit, with interest, shall be refunded by Buyer and all rights, obligationsReal Estate, and liabilities of this Agreement shall continue in full force and effect, and the parties under this Contract will cease, terminate and be null and void. The right of Purchaser shall close the Buyer to terminate this Contract on account of uncured Title Defects is supplementary and transaction contemplated hereby in addition to Buyer’s right to terminate during accordance with the Inspection Period, on the basis specified in Paragraphs 7 and 8 belowterms hereof.

Title Evidence. Within twenty (20) days after the Effective Date, Buyer will obtainA. Seller, at Buyer’s cost and Seller's expense, an ALTA Form B Commitment will provide Buyer prior to February 15, 1999 with a commitment(s) (the "Commitment") for an owner’s Owner's Policy of Title Insurance for the Property issued by Title. Buyer shall pay at closing the premium for the actual title insurance policy (the “Commitment”) issued policy, if any, to be purchased by Chicago Title Insurance Company (the “Title Company”) through its agent, Holland & Knight LLP, in the face amount of the Purchase Price, evidencing whether Seller is vested with good and marketable record fee simple title to the Land, Buyer. The Commitment will be accompanied shall include appurtenant coverage for Buyer's rights under the Parking Easement as not subordinate to any prior interest, unless approved by trueBuyer, complete waiver of standard exceptions, a zoning and comprehensive endorsements and a contiguity endorsement as to each of Parcel 1 and Parcel 2 and shall include legible copies of all documents creating documents, maps, or evidencing any exception to plats set forth therein as affecting the Property and shall be issued through Title in its capacity as a title noted insurance company by its local office or by its local agent (the "Title Company") situated in the Commitment. A copy of county where the Commitment will be delivered to SellerProperty is located. The Commitment will evidence shall be issued in the requirements subject name of Buyer, Techne Corporation and Buyer's lender. B. By February 26, 1999, Buyer shall deliver to which Title Company will insure in Seller a written statement containing any objection Buyer good and marketable record fee simple title has to the Land subject only state of title, including Survey objections and objections to those matters to Permitted Encumbrances. Buyer acknowledges that simultaneously with the closing, Seller will terminate the Declaration of Easement dated December 21, 1995, filed January 4, 1996, as Document No. 2665870 with Hennepin County Registrar of Titles office ("Declaration"). If such statement of objection is not delivered by February 26, 1999, title shall be deemed approved by Buyer during except for Schedule B, Section 1 requirements of the Inspection Period commitment (the “Permitted Exceptions”)"Requirements") which Seller agrees to satisfy at closing. If required any objection other than the Requirements is not cured or removed by February 26, 1999, Buyer, at its option, may, prior to February 26, 1999, either (i) accept title as it is, subject to Seller's obligations to satisfy the Commitment will provide that Requirements; or (ii) terminate this Purchase Agreement. Seller shall have no obligation to cure any of the policy to be issued pursuant thereto Permitted Encumbrances. Upon any such termination all parties shall be accompanied by comprehensive, survey, access, patent, water and/or contiguity endorsements. In released from all duties or obligations contained herein and the event that the Commitment discloses that the title to the Land is unmarketable or if the Commitment otherwise discloses exceptions objectionable to Buyer Deposit (other than current year’s taxes and any liens and encumbrances to the interest earned thereon) shall be discharged by Seller through the payment of money at closing), Buyer may notify Seller of that fact in writing prior to the end of the Inspection Period. Such written notice will specify those particular liens, encumbrances, exceptions, qualifications or defects listed in the Commitment which are not acceptable returned to Buyer (any such liens, encumbrances, exceptions, qualifications or defects will hereinafter be referred to as “Title Defects”). Within ten (10) days of receipt of said notice, Seller shall notify Buyer whether it has elected to attempt to cure the Title Defects, or to terminate this Contract. If Seller elects to attempt to cure the Title Defects, he shall have until five (5) days before the last day of the Inspection Period to bring about the record cure or elimination of the Title Defects to the reasonable satisfaction of Buyer, its attorneys and Title Company provided for in such manner as to permit Title Company to either (a) endorse the Commitment so as to delete the Title Defects from the Commitment or (b) issue an endorsement or a new commitment for title insurance which meets the foregoing requirements of this Paragraph 5 and does not contain exceptions for the Title Defects. If Seller is successful in curing or eliminating the Title Defects within said time period, the closing hereunder will take place on the date hereinafter specified in Paragraph 9 of this Contract. If Seller is unable to cure or eliminate the Title Defects, or initially or subsequently elects not to attempt to cure or eliminate the Title Defects, he shall so notify Buyer in writing and Buyer shall have ten (10) days from receipt of said notice to elect either to (a) accept title subject to such exceptions; or (b) terminate this Contract. In the event that Buyer elects to terminate this Contract due to the existence of uncured Title Defects by giving written notice of that fact to Seller, the Deposit, with interest, shall be refunded by Buyer and all rights, obligations, and liabilities of the parties under this Contract will cease, terminate and be null and void. The right of the Buyer to terminate this Contract on account of uncured Title Defects is supplementary and in addition to Buyer’s right to terminate during the Inspection Period, on the basis specified in Paragraphs 7 and 8 belowSection III hereof.

Title Evidence. Within twenty (20) days The Seller shall cause to be furnished to Buyer, a title insurance company’s commitment to issue, after the Effective Dateclosing, Buyer will obtain, at Buyer’s cost and expense, an ALTA Form B Commitment for an owner’s a title insurance policy (in an amount equal to the “Commitment”) issued by Chicago Title Insurance Company (full purchase price naming Buyer as the “Title Company”) through its agent, Holland & Knight LLP, in insured. The Seller and Buyer shall each pay one-half the face amount cost of the Purchase Pricetitle insurance. Except for assumptions or owner-carry transactions, evidencing whether Seller the commitment shall show marketable title vested in Seller, subject to any of the following exceptions which may apply: Easements; if Buyer fails to obtain a survey, any encroachments that would have been disclosed by a survey; rights-of-way of record; trees, plantings and fences; restrictions and protective covenants of record, provided no forfeiture provisions are contained therein; immature special assessments; zoning laws, ordinances and regulations; rights of tenants in possession; the liens, if any, described therein; and those exceptions which are standard to American Land Title Association or as specified herein and in an assumption, the mortgage securing the loan which the Buyer is vested with good and marketable record fee simple title to the Land, The Commitment will be accompanied by true, complete and legible copies of all documents creating or evidencing any exception to title noted in the Commitmentassuming. A copy of the Commitment title commitment will be delivered furnished to Seller. The Commitment will evidence the requirements subject to which Title Company will insure in Buyer good and marketable record fee simple title to the Land subject only to those matters to be approved by Buyer during the Inspection Period (the “Permitted Exceptions”). If required by , Buyer, the Commitment will provide that the policy to be issued pursuant thereto shall be accompanied by comprehensivelender, surveylisting broker, access, patent, water and/or contiguity endorsementsand selling broker as promptly as possible. In the event that a Seller is entitled to a discount, the Commitment discloses that Seller shall receive the full discount. Buyer shall pay for any title coverage for the benefit of Xxxxx’s lender. Buyer shall have a reasonable time, not to exceed 5 business days, to examine the title insurance commitment and to the Land is unmarketable or if the Commitment otherwise discloses exceptions objectionable to Buyer (other than current year’s taxes and any liens and encumbrances to be discharged by Seller through the payment of money at closing), Buyer may notify Seller of that fact in writing prior any objections to the end of the Inspection Periodtitle. Such written notice will specify those particular liens, encumbrances, exceptions, qualifications or defects listed in the Commitment which are not acceptable to Buyer (any such liens, encumbrances, exceptions, qualifications or defects will hereinafter be referred to as “Title Defects”). Within ten (10) days of receipt of said notice, Seller shall notify Buyer whether it has elected have reasonable time, not to attempt exceed 30 days from the scheduled closing date, to cure any title defect other than the Title Defects, or to terminate this Contractexceptions listed above. If Should the Seller elects to attempt to cure the Title Defects, he shall have until five (5) days before the last day of the Inspection Period to bring about the record cure or elimination of the Title Defects to the reasonable satisfaction of Buyer, its attorneys and Title Company in such manner as to permit Title Company to either (a) endorse the Commitment so as to delete the Title Defects from the Commitment or (b) issue an endorsement or a new commitment for title insurance which meets the foregoing requirements of this Paragraph 5 and does not contain exceptions for the Title Defects. If Seller is successful in curing or eliminating the Title Defects within said time period, the closing hereunder will take place on the date hereinafter specified in Paragraph 9 of this Contract. If Seller is be unable to cure or eliminate the Title Defects, or initially or subsequently elects not to attempt to cure or eliminate the Title Defects, he shall so notify Buyer in writing and Buyer shall have ten (10) days from receipt of said notice to elect either to (a) accept furnish marketable title subject to such the foregoing exceptions; or (b) terminate this Contract. In the event that Buyer elects to terminate , and should this Contract due to be terminated for that reason, then the existence of uncured Title Defects by giving written notice of that fact to Seller, the Deposit, with interest, xxxxxxx money shall be refunded promptly to the Buyer, the Seller shall reimburse to the Buyer the cost of Xxxxx’s accrued loan costs, the cost of any survey paid for by Buyer if, but only if, the survey disclosed a title defect that cannot be corrected within the time provided above, attorney’s fees for examining title, and title insurance cancellation fees, and all rights, obligations, and liabilities of the parties under this Contract will cease, terminate and shall be null and voidreleased from any further obligation. The right of the Buyer Title Evidence to terminate this Contract on account of uncured Title Defects is supplementary and in addition to Buyer’s right to terminate during the Inspection Period, on the basis specified in Paragraphs 7 and 8 below.be ordered from:

Title Evidence. Within twenty Borrower shall provide to Lender (20i) days after a Commitment for Title Insurance for the Effective Dateissuance of a lender or mortgagee policy covering the Mortgaged Property, Buyer will obtain(a) issued in an amount equal to the maximum principal amount ofthe Loan, at Buyer’s cost (b) naming Lender as the proposed insured and expensecontaining only exceptions as are expressly approved in writing by Lender (and all requirements for such commitment shall have been satisfied and the premium therefor shall have been paid by Borrower), together with copies of all documents listed in Schedule (or Part) I and all documents listed in Schedule (or Part) II of the Commitment for Title Insurance, (ii) a proforma loan policy of title insurance complying with the foregoing requirements of Lender, together with proforma endorsements required by Lender, (iii) a Closing Protection Letter from the title insurance company which is to provide a loan policy of title insurance covering Lender's Mortgage, (iv) an ALTA Form B Commitment for an owner’s Loan Policy of Title Insurance 2006, in form and substance acceptable to Lender, issued by a title insurance policy (the “Commitment”) issued by Chicago Title Insurance Company (the “Title Company”) through its agent, Holland & Knight LLP, in the face amount of the Purchase Pricecompany acceptable to Lender, evidencing whether Seller is vested with that Borrower has good and marketable record fee simple title to the LandMortgaged Property and that the Mortgage will constitute a valid first Mortgage on the Mortgaged Property, The Commitment will be accompanied by true, complete and legible copies of all documents creating or evidencing any exception to title noted in the Commitment. A copy of the Commitment will be delivered to Seller. The Commitment will evidence the requirements subject to which Title Company will insure in Buyer good and marketable record fee simple title to the Land subject only to those matters described in Exhibit "B" attached to the Mortgage. The loan policy of title insurance shall not include an exception based upon mechanics' and materialmen's liens, or any exceptions based on discrepancies, conflicts in boundary lines, shortage in area, encroachments or other facts which would be approved disclosed by Buyer during the Inspection Period (the “Permitted Exceptions”)a proper survey. If required by Buyer, the Commitment will provide that the The loan policy to be issued pursuant thereto shall of title insurance must be accompanied by comprehensivesuch endorsements thereto as may be required by Lender or its counsel, surveyincluding, accessbut not limited to, patentan access and entry endorsement, water and/or a comprehensive endorsement, a contiguity endorsementsendorsement, an endorsement deleting the arbitration provision, an environmental lien endorsement, a subdivision endorsement, a survey endorsement, a variable rate endorse­ ment, and a zoning endorsement. In The premiums for the event that the Commitment discloses that the loan policy of title to the Land is unmarketable or if the Commitment otherwise discloses exceptions objectionable to Buyer (other than current year’s taxes insurance and any liens and encumbrances to all endorsements shall be discharged paid by Seller through the payment of money at closing), Buyer may notify Seller of that fact in writing Borrower prior to or at the end time of the Inspection Period. Such written notice will specify those particular liens, encumbrances, exceptions, qualifications or defects listed in initial advance under the Commitment which are not acceptable to Buyer (any such liens, encumbrances, exceptions, qualifications or defects will hereinafter be referred to as “Title Defects”). Within ten (10) days of receipt of said notice, Seller shall notify Buyer whether it has elected to attempt to cure the Title Defects, or to terminate this Contract. If Seller elects to attempt to cure the Title Defects, he shall have until five (5) days before the last day of the Inspection Period to bring about the record cure or elimination of the Title Defects to the reasonable satisfaction of Buyer, its attorneys and Title Company in such manner as to permit Title Company to either (a) endorse the Commitment so as to delete the Title Defects from the Commitment or (b) issue an endorsement or a new commitment for title insurance which meets the foregoing requirements of this Paragraph 5 and does not contain exceptions for the Title Defects. If Seller is successful in curing or eliminating the Title Defects within said time period, the closing hereunder will take place on the date hereinafter specified in Paragraph 9 of this Contract. If Seller is unable to cure or eliminate the Title Defects, or initially or subsequently elects not to attempt to cure or eliminate the Title Defects, he shall so notify Buyer in writing and Buyer shall have ten (10) days from receipt of said notice to elect either to (a) accept title subject to such exceptions; or (b) terminate this Contract. In the event that Buyer elects to terminate this Contract due to the existence of uncured Title Defects by giving written notice of that fact to Seller, the Deposit, with interest, shall be refunded by Buyer and all rights, obligations, and liabilities of the parties under this Contract will cease, terminate and be null and void. The right of the Buyer to terminate this Contract on account of uncured Title Defects is supplementary and in addition to Buyer’s right to terminate during the Inspection Period, on the basis specified in Paragraphs 7 and 8 belowNote.

Title Evidence. Within twenty Any title insurance company's title binder to issue, after closing, a title insurance policy, was made available to Buyer prior to the auction closing (20“Title Work”), and if none then Xxxxx agrees that it was Xxxxx’s sole decision and responsibility prior to the auction to obtain any title binder or title information (also, “Title Work”), and review and approve the same, and that Xxxxx agrees to take title subject to any matters that might be excepted to, required or disclosed in a title binder or commitment. This Contract is not contingent on Buyer’s or Xxxxx’s lender review of any title matters. Additionally, Xxxxx agrees to take title subject to all of the following that are evidenced of public record, or that would be disclosed by survey or inspection of the Property: encroachments, rights-of-way, trees, plantings, fences, easements, restrictions, protective covenants, unmatured special assessments, zoning laws, ordinances and regulations; rights of tenants in possession and any other leases, and liens, if any; except that at closing Seller is obligated to: (A) days pay any amount secured by any mortgage recorded against the Property and cause the mortgage to be released, and (B) remove any claim or matter that affects the marketability of title and that Seller caused to first affect the Property after the Effective Date, date of the Title Work search. The Seller and Buyer will obtain, at Buyer’s shall each pay one-half the cost and expense, an ALTA Form B Commitment for an of any owner’s title insurance policy (the “Commitment”) issued by Chicago Title Insurance Company (the “Title Company”) through its agent, Holland & Knight LLP, in the face amount of the Purchase Price, evidencing whether Seller is vested with good and marketable record fee simple title insuring up to the Landpurchase price, The Commitment but Buyer will be accompanied by true, complete and legible copies pay all costs of all documents creating or evidencing any exception to title noted in the Commitment. A copy of the Commitment will be delivered to Seller. The Commitment will evidence the requirements subject to which Title Company will insure in Buyer good and marketable record fee simple title to the Land subject only to those matters to be approved by Buyer during the Inspection Period (the “Permitted Exceptions”). If required by Buyer, the Commitment will provide that the policy to be issued pursuant thereto shall be accompanied by comprehensive, survey, access, patent, water and/or contiguity endorsements. In the event that the Commitment discloses that the title to the Land land is unmarketable or if the Commitment otherwise discloses exceptions objectionable to Buyer (other than current year’s taxes and any liens and encumbrances to be discharged used for new construction, the builder/Seller may receive builder discount if any. Buyer shall pay for any lender's/mortgagee's/Instrument holder's title insurance coverage. Should the Seller be unable by Seller through closing to perform its obligations pursuant to this Section 15, the payment of money Buyer may, at closing)Xxxxx's option and as Buyer’s sole and exclusive remedy, Buyer may notify Seller of that fact in writing prior to the end of the Inspection Period. Such written notice will specify those particular liens, encumbrances, exceptions, qualifications waive such defect or defects listed in the Commitment which are not acceptable to Buyer (any such liens, encumbrances, exceptions, qualifications or defects will hereinafter be referred to as “Title Defects”). Within ten (10) days of receipt of said notice, Seller shall notify Buyer whether it has elected to attempt to cure the Title Defects, or to terminate this Contract. If Seller elects to attempt to cure the Title Defects, he shall have until five (5) days before the last day of the Inspection Period to bring about the record cure or elimination of the Title Defects to the reasonable satisfaction of Buyer, its attorneys and Title Company in such manner as to permit Title Company to either (a) endorse the Commitment so as to delete the Title Defects from the Commitment or (b) issue an endorsement or a new commitment for title insurance which meets the foregoing requirements of this Paragraph 5 and does not contain exceptions for the Title Defects. If Seller is successful in curing or eliminating the Title Defects within said time period, the closing hereunder will take place on the date hereinafter specified in Paragraph 9 of this Contract. If Seller is unable to cure or eliminate the Title Defects, or initially or subsequently elects not to attempt to cure or eliminate the Title Defects, he shall so notify Buyer in writing and Buyer shall have ten (10) days from receipt of said notice to elect either to (a) accept title subject to such exceptions; or (b) terminate this Contract. In the event that Buyer elects to terminate this Contract due to terminate, then the existence of uncured Title Defects by giving written notice of that fact to Seller, the Deposit, with interest, xxxxxxx money shall be refunded by promptly to the Buyer and all rights, obligationstitle insurance cancellation fees will be paid by Seller, and liabilities of the all parties under this Contract will cease, terminate and shall be null and voidreleased from any further liability hereunder. The right of the Buyer to terminate this Contract on account of uncured Any Title Defects is supplementary and in addition to Buyer’s right to terminate during the Inspection Period, on the basis specified in Paragraphs 7 and 8 belowWork must be ordered from Kansas Secured Title.

Title Evidence. Within twenty (20) days after Buyer acknowledges and agrees that Buyer has received, reviewed the Effective Date, Buyer will obtain, at Buyer’s cost and expense, an ALTA Form B Commitment current commitment for an owner’s title insurance policy issued by the Title Company and referenced as File No. and having an effective date of March 9, 2020, showing the condition of title to the Property (the “"Title Commitment”"). Buyer further acknowledges that Buyer approves of the Title Commitment and agrees to accept title to the Property subject to the following: (a) issued by Chicago Title Insurance Company (the “Title Company”) through its agent, Holland & Knight LLP, general exceptions against title to the Property appearing in the face Title Commitment; (b) all real estate taxes and assessments which are not due and payable as of the Closing Date; (c) restrictions or reservations of any type; (d) zoning laws and ordinances; (e) roadways, rights of way, and easements; (f) any contracts purporting to limit or regulate the use, occupancy, or enjoyment of the Property; (g) drainage ditches, feeders and laterals; (h) all outstanding mineral rights or reservations, oil, gas or mineral leases; (i) water districts, water rights; (j) rights of tenants, lessees, or any persons or entities in possession; (k) matters which could be disclosed by a survey of the Property; (l) [INCLUDE IF PROPERTY INCLUDES PARCELS 1 AND/OR 4] the rights of Jenikag, LLC as tenant ("Tenant") under that certain Agricultural Lease dated April 24, 2019, by and between Seller, as landlord, and Tenant (as amended, the "Existing Lease"), with respect to that portion of the Property described in the Existing Lease; and (m) any other matters shown on the Title Commitment (collectively, the "Permitted Exceptions"). At the Closing, Seller shall cause the Title Commitment to be converted into an Owner's Title Policy in the amount of the Purchase PricePrice showing Buyer as the owner of the Property as of the Closing Date, evidencing whether Seller is vested with good and marketable record fee simple title subject to the Land, The Commitment will Permitted Exceptions. Seller shall not be accompanied by true, complete required to provide any endorsements to the Owner's Title Policy. Buyer and legible copies of all documents creating or evidencing any exception to title noted in the Commitment. A copy Seller each shall pay one-half of the Commitment will be delivered to Seller. The Commitment will evidence the requirements subject to which Title Company will insure in Buyer good and marketable record fee simple title to the Land subject only to those matters to be approved by Buyer during the Inspection Period (the “Permitted Exceptions”). If required by Buyer, the Commitment will provide that the policy to be issued pursuant thereto shall be accompanied by comprehensive, survey, access, patent, water and/or contiguity endorsements. In the event that the Commitment discloses that the title to the Land is unmarketable or if the Commitment otherwise discloses exceptions objectionable to Buyer (other than current year’s taxes and any liens and encumbrances to be discharged by Seller through the payment of money at closing), Buyer may notify Seller of that fact in writing prior to the end cost of the Inspection Period. Such written notice will specify those particular liens, encumbrances, exceptions, qualifications or defects listed in the Commitment which are not acceptable to Buyer (any such liens, encumbrances, exceptions, qualifications or defects will hereinafter be referred to as “Owner's Title Defects”). Within ten (10) days of receipt of said notice, Seller shall notify Buyer whether it has elected to attempt to cure the Title Defects, or to terminate this Contract. If Seller elects to attempt to cure the Title Defects, he shall have until five (5) days before the last day of the Inspection Period to bring about the record cure or elimination of the Title Defects to the reasonable satisfaction of Buyer, its attorneys and Title Company in such manner as to permit Title Company to either (a) endorse the Commitment so as to delete the Title Defects from the Commitment or (b) issue an endorsement or a new commitment for title insurance which meets the foregoing requirements of this Paragraph 5 and does not contain exceptions for the Title Defects. If Seller is successful in curing or eliminating the Title Defects within said time period, the closing hereunder will take place on the date hereinafter specified in Paragraph 9 of this Contract. If Seller is unable to cure or eliminate the Title Defects, or initially or subsequently elects not to attempt to cure or eliminate the Title Defects, he shall so notify Buyer in writing and Buyer shall have ten (10) days from receipt of said notice to elect either to (a) accept title subject to such exceptions; or (b) terminate this Contract. In the event that Buyer elects to terminate this Contract due to the existence of uncured Title Defects by giving written notice of that fact to Seller, the Deposit, with interest, shall be refunded by Buyer and all rights, obligations, and liabilities of the parties under this Contract will cease, terminate and be null and void. The right of the Buyer to terminate this Contract on account of uncured Title Defects is supplementary and in addition to Buyer’s right to terminate during the Inspection Period, on the basis specified in Paragraphs 7 and 8 belowPolicy.

Title Evidence. Within twenty Seller shall cause to be delivered to Purchaser a preliminary title insurance commitment, not later than five (205) days after following the Effective Date, Buyer will obtain, at Buyer’s cost and expense, an ALTA Form B Commitment for an owner’s title insurance policy Date (the “"Commitment”") issued by Chicago the Title Company showing the status of record title to the Property, together with copies of all recorded documents listed as exceptions to title on Schedule B-2 of the Commitment (collectively, the "Exception Documents"). On or before the Closing Date, Seller shall have the Title Company issue a revised Commitment evidencing the obligation of the Title Insurer to issue the current ALTA form Owner's Title Insurance Company Policy with Extended Coverage for the Property (the “"Title Company”Policy") through its agent, Holland & Knight LLP, in the face amount of the Purchase Price, evidencing whether Seller is vested with good and marketable record fee simple title subject to the Land, The Commitment will be accompanied by true, complete and legible copies of all documents creating or evidencing any exception to title noted in following: the Commitment. A copy standard printed exceptions listed on Schedule B-2 of the Commitment will shall be delivered deleted; the exception for taxes shall be revised to Sellertaxes for the year of closing and thereafter only, not yet due and payable, and the exception for rights of parties in possession shall be limited to rights of parties under the Permitted Exceptions. The Commitment will evidence If Purchaser desires to obtain additional endorsements and notifies the requirements subject to which Title Company will insure in Buyer good of such requested coverage and marketable record fee simple title to the Land subject only to those matters to be approved by Buyer during the Inspection Period additional endorsements at least five (the “Permitted Exceptions”). If required by Buyer, the Commitment will provide that the policy to be issued pursuant thereto shall be accompanied by comprehensive, survey, access, patent, water and/or contiguity endorsements. In the event that the Commitment discloses that the title to the Land is unmarketable or if the Commitment otherwise discloses exceptions objectionable to Buyer (other than current year’s taxes and any liens and encumbrances to be discharged by Seller through the payment of money at closing), Buyer may notify Seller of that fact in writing 5) business days prior to the end expiration of the Inspection Period. Such written notice will specify those particular liens, encumbrances, exceptions, qualifications or defects listed in the Commitment which are not acceptable to Buyer (any such liens, encumbrances, exceptions, qualifications or defects will hereinafter be referred to as “Title Defects”). Within ten (10) days of receipt of said notice, Seller shall notify Buyer whether it has elected to attempt to cure the Title DefectsCompany shall confirm, or to terminate this Contract. If Seller elects to attempt to cure the Title Defects, he shall have until five at least three (53) business days before the last day of the Inspection Period to bring about the record cure or elimination of the Title Defects prior to the reasonable satisfaction expiration of Buyer, its attorneys and Title Company in such manner as to permit Title Company to either (a) endorse the Commitment so as to delete the Title Defects from the Commitment or (b) issue an endorsement or a new commitment for title insurance which meets the foregoing requirements of this Paragraph 5 and does not contain exceptions for the Title Defects. If Seller is successful in curing or eliminating the Title Defects within said time period, the closing hereunder will take place on the date hereinafter specified in Paragraph 9 of this Contract. If Seller is unable to cure or eliminate the Title Defects, or initially or subsequently elects not to attempt to cure or eliminate the Title Defects, he shall so notify Buyer in writing and Buyer shall have ten (10) days from receipt of said notice to elect either to (a) accept title subject to such exceptions; or (b) terminate this Contract. In the event that Buyer elects to terminate this Contract due to the existence of uncured Title Defects by giving written notice of that fact to Seller, the Deposit, with interest, shall be refunded by Buyer and all rights, obligations, and liabilities of the parties under this Contract will cease, terminate and be null and void. The right of the Buyer to terminate this Contract on account of uncured Title Defects is supplementary and in addition to Buyer’s right to terminate during the Inspection Period, on the basis specified in Paragraphs 7 status of meeting any requirements for obtaining the extended coverage and 8 belowadditional endorsements and Seller agrees to execute such documents as reasonably required for such purposes. Seller shall pay the basic premium cost for the ALTA Title Insurance Policy (Extended Coverage) and Purchaser shall pay the cost for any additional endorsements requested by Purchaser to such ALTA Title Insurance Policy. The Commitment and the Exception Documents are referred to as the "Title Materials."

Title Evidence. Within twenty (20) days after the Effective Date, Buyer will obtain, at Buyer’s cost Sellers have caused to be issued and expense, an ALTA Form B Commitment for an owner’s delivered to Purchaser a title insurance policy commitment (the “Commitment”) issued by Chicago Title Insurance Company (Chicago Title Insurance Company, National Business Unit, 00000 Xxx Xxxxxx Xxxxxx, Suite 200, Irvine, California 92606, Attention: Xx. Xxxx Xxxxxx (“Title Insurer”). Prior to the expiration of the Investigation Period (as defined below), Purchaser shall deliver written notice (“Purchaser’s Title Notice”) to Sellers of any objections to any exceptions reflected on the Commitment or revealed by the Survey. Any matters reflected on the Survey or Commitment for which Purchaser fails to deliver timely written notice of objections shall be deemed to be Permitted Exceptions, except that monetary liens in the nature of deeds of trust, mortgages, judgments, mechanics’ or materialmen’s liens, public utility assessments, or past-due real estate taxes shall in no event be deemed Permitted Exceptions and shall be paid or discharged by Sellers in full at or before Closing. In any event, ad valorem real estate taxes for the year of Closing, those exceptions shown on Exhibit G attached hereto, applicable zoning ordinances and regulations, and tenants in possession (as tenants only under the Leases, with no right to purchase all or any portions of the Property) shall be deemed to be Permitted Exceptions. Within five (5) business days after Sellers’ receipt of Purchaser’s Title Notice, Sellers shall provide written notice to Purchaser as to whether Sellers will cure any such objections or refuse to cure the objections. Except as aforesaid (with respect to monetary liens, which Sellers shall be obligated to cure at Sellers’ sole cost and expense, including all pre-payment penalties and charges), in no event shall Sellers be obligated to cure any objections. If Sellers fail to deliver notice of their election to Purchaser, Sellers shall be deemed to have elected not to cure the objections. In the event Sellers elect, or are deemed to have elected, not to cure any objections, then Purchaser shall have the right to either waive the objection and proceed to Closing, in which event the exception shall be deemed a Permitted Exception, or terminate this Agreement, in which event the Deposit (and all interest accrued thereon) shall be returned to Purchaser and the parties shall have no further rights or obligations hereunder except as provided in Section 11. In the event Purchaser fails to deliver to Sellers written notice of its election within five (5) business days after receipt of Sellers’ notice of Sellers’ election, then Purchaser shall be deemed to have elected to waive the objections and proceed to Closing. All objections that are waived, or deemed to be waived, by Purchaser shall become Permitted Exceptions. In the event Sellers elect to cure any objections, Sellers shall have until Closing to complete the cure of such objections at the sole cost and expense of Sellers and to the reasonable satisfaction of Purchaser. Sellers covenant and agree not to further encumber title from and after the date of this Agreement, except as specifically permitted below. If, notwithstanding the foregoing, any new title defects appear from the date of the Commitment and Survey through the Closing Date, Sellers may, but shall not be obligated to, use commercially reasonable efforts (excluding litigation) in their sole and absolute discretion to cause such defects to be cured by the Closing Date. Except as aforesaid (with respect to monetary liens), Sellers shall in no event be obligated to bring suit to cure any defect or to buy out or settle any claim or lien against the Property. If Sellers do not eliminate such new title defects as of the Closing Date, Purchaser shall have the option to either waive the objection and proceed to Closing in which event the defect shall become a Permitted Exceptions or terminate this Agreement in which event the Deposit (and all interest accrued thereon) shall be returned to Purchaser and the parties shall be released from all further obligations under this Agreement except as provided in Section 11. Purchaser shall be responsible for payment of any premiums for the Title Insurance Policy (as defined herein) and any title examination. Notwithstanding anything stated to the contrary in this Section 7 or elsewhere in this Agreement, if Purchaser delivers to Sellers a form of title commitment acceptable to Purchaser (the “Approved Title Commitment”) prior to the expiration of the Investigation Period that does not set forth any requirements inconsistent with the terms of this Agreement and provided the Title Insurer, prior to the expiration of the Investigation Period, confirms in writing that they are prepared to issue a title insurance policy in the form of such Approved Title Commitment, then, as a condition precedent to Purchaser’s obligation to purchase the Property in accordance with the terms and conditions of this Agreement, Purchaser shall be entitled to receive an owner’s title insurance policy (the “Title CompanyInsurance Policy”) through its agent, Holland & Knight LLP, in the face form of such Approved Title Commitment, with a liability limit in the amount of the Purchase Price, evidencing whether Seller is vested with good and marketable record fee simple title to the Land, The Commitment will be accompanied by true, complete and legible copies of all documents creating or evidencing any exception to title noted in the Commitment. A copy of the Commitment will be delivered to Seller. The Commitment will evidence the requirements subject to which Title Company will insure in Buyer good and marketable record fee simple title to the Land subject only to those matters to be approved by Buyer during the Inspection Period (the “Permitted Exceptions”). If required by Buyer, the Commitment will provide that the policy to be issued pursuant thereto shall be accompanied by comprehensive, survey, access, patent, water and/or contiguity endorsements. In the event that the Commitment discloses that the title to the Land is unmarketable or if the Commitment otherwise discloses exceptions objectionable to Buyer (other than current year’s taxes and any liens and encumbrances to be discharged by Seller through the payment of money at closing), Buyer may notify Seller of that fact in writing prior to the end of the Inspection Period. Such written notice will specify those particular liens, encumbrances, such exceptions, qualifications or defects listed in the Commitment which and with such endorsements, as are not acceptable to Buyer (any such liens, encumbrances, exceptions, qualifications or defects will hereinafter be referred to as “Title Defects”). Within ten (10) days of receipt of said notice, Seller shall notify Buyer whether it has elected to attempt to cure the Title Defects, or to terminate this Contract. If Seller elects to attempt to cure the Title Defects, he shall have until five (5) days before the last day of the Inspection Period to bring about the record cure or elimination of the Title Defects to the reasonable satisfaction of Buyer, its attorneys and Title Company set forth in such manner as to permit Approved Title Company to either (a) endorse the Commitment so as to delete the Title Defects from the Commitment or (b) issue an endorsement or a new commitment for title insurance which meets the foregoing requirements of this Paragraph 5 and does not contain exceptions for the Title Defects. If Seller is successful in curing or eliminating the Title Defects within said time period, the closing hereunder will take place on the date hereinafter specified in Paragraph 9 of this Contract. If Seller is unable to cure or eliminate the Title Defects, or initially or subsequently elects not to attempt to cure or eliminate the Title Defects, he shall so notify Buyer in writing and Buyer shall have ten (10) days from receipt of said notice to elect either to (a) accept title subject to such exceptions; or (b) terminate this Contract. In the event that Buyer elects to terminate this Contract due to the existence of uncured Title Defects by giving written notice of that fact to Seller, the Deposit, with interest, shall be refunded by Buyer and all rights, obligations, and liabilities of the parties under this Contract will cease, terminate and be null and void. The right of the Buyer to terminate this Contract on account of uncured Title Defects is supplementary and in addition to Buyer’s right to terminate during the Inspection Period, on the basis specified in Paragraphs 7 and 8 belowCommitment.

Title Evidence. Within twenty (20) days after Buyer acknowledges and agrees that Buyer has received, reviewed the Effective Date, Buyer will obtain, at Buyer’s cost and expense, an ALTA Form B Commitment current commitment for an owner’s title insurance policy issued by the Title Company and referenced as File No. 704305 and with an effective date of February 12, 2014, showing the condition of title to the Property (the “"Title Commitment”"). Buyer further acknowledges that Buyer approves of the Title Commitment and agrees to accept title to the Property subject to the following: (a) issued by Chicago Title Insurance Company (the “Title Company”) through its agent, Holland & Knight LLP, general exceptions against title to the Property appearing in the face Title Commitment; (b) all real estate taxes and assessments which are not due and payable as of the Closing Date; (c) restrictions or reservations of any type; (d) zoning laws and ordinances; (e) roadways, rights of way, and easements; (f) any contracts purporting to limit or regulate the use, occupancy, or enjoyment of the Property; (g) drainage ditches, feeders and laterals; (h) all outstanding mineral rights or reservations, oil, gas or mineral leases; (i) water districts, water rights; j) rights of tenants, lessees, licensees, or any persons in possession; (k) matters which could be disclosed by a survey of the Property; and (l) any other matters shown on the Title Commitment (collectively, the "Permitted Exceptions"). At the Closing, Seller shall cause the Title Commitment to be converted into an Owner's Title Policy in the amount of the Purchase PricePrice showing Buyer as the owner of the Property as of the Closing Date, evidencing whether Seller is vested with good and marketable record fee simple title subject to the Land, Permitted Exceptions. Seller shall not be required to provide any endorsements to the Owner's Title Policy. The Commitment will be accompanied by true, complete and legible copies of all documents creating or evidencing any exception to title noted in the Commitment. A copy cost of the Commitment will be delivered to Seller. The Commitment will evidence the requirements subject to which Owner's Title Company will insure in Buyer good and marketable record fee simple title to the Land subject only to those matters to be approved by Buyer during the Inspection Period (the “Permitted Exceptions”). If required by Buyer, the Commitment will provide that the policy to be issued pursuant thereto Policy shall be accompanied paid for by comprehensive, survey, access, patent, water and/or contiguity endorsements. In the event that the Commitment discloses that the title to the Land is unmarketable or if the Commitment otherwise discloses exceptions objectionable to Buyer (other than current year’s taxes and any liens and encumbrances to be discharged by Seller through the payment of money at closing), Buyer may notify Seller of that fact in writing prior to the end of the Inspection Period. Such written notice will specify those particular liens, encumbrances, exceptions, qualifications or defects listed in the Commitment which are not acceptable to Buyer (any such liens, encumbrances, exceptions, qualifications or defects will hereinafter be referred to as “Title Defects”). Within ten (10) days of receipt of said notice, Seller shall notify Buyer whether it has elected to attempt to cure the Title Defects, or to terminate this Contract. If Seller elects to attempt to cure the Title Defects, he shall have until five (5) days before the last day of the Inspection Period to bring about the record cure or elimination of the Title Defects to the reasonable satisfaction of Buyer, its attorneys and Title Company in such manner as to permit Title Company to either (a) endorse the Commitment so as to delete the Title Defects from the Commitment or (b) issue an endorsement or a new commitment for title insurance which meets the foregoing requirements of this Paragraph 5 and does not contain exceptions for the Title Defects. If Seller is successful in curing or eliminating the Title Defects within said time period, the closing hereunder will take place on the date hereinafter specified in Paragraph 9 of this Contract. If Seller is unable to cure or eliminate the Title Defects, or initially or subsequently elects not to attempt to cure or eliminate the Title Defects, he shall so notify Buyer in writing and Buyer shall have ten (10) days from receipt of said notice to elect either to (a) accept title subject to such exceptions; or (b) terminate this Contract. In the event that Buyer elects to terminate this Contract due to the existence of uncured Title Defects by giving written notice of that fact to Seller, the Deposit, with interest, shall be refunded by Buyer and all rights, obligations, and liabilities of the parties under this Contract will cease, terminate and be null and void. The right of the Buyer to terminate this Contract on account of uncured Title Defects is supplementary and in addition to Buyer’s right to terminate during the Inspection Period, on the basis specified in Paragraphs 7 and 8 below.