Common use of Title Objections Clause in Contracts

Title Objections. Buyer shall provide Seller with a list of all title objections (hereinafter “Title Objections”) in writing within 10 days after Buyer receipt of a Title Commitment. Seller shall have until the Closing Date to cure all valid Title Objections (hereinafter “Title Cure Period”). Seller shall satisfy all liens or encumbrances identified by Buyer as valid Title Objections which can be satisfied by payment on or before the Closing Date. Except for Seller’s obligations in 491 the preceding sentence, if Seller fails to cure any of Xxxxx’s other valid Title Objections within the Title Cure Period (and 492 fails to provide Buyer with evidence of Seller’s cure satisfactory to Buyer, Settlement Provider, and title insurance 493 company), Buyer may, as Xxxxx’s sole remedy; a) unilaterally cancel this Purchase Agreement within 7 days by 494 providing written notice to Seller indicating the reason for the cancellation. In such case, Buyer shall be entitled to a full 495 return of the Xxxxxxx Money, b) waive such Title Objections and close this transaction anyway, or c) extend the Closing 496 Date for 30 days to allow Seller additional time to cure such valid Title Objections. Buyer shall have 7 days 497 following the completion of such extension to cure to re-examine title to ensure the proper cure of such Title Objections. 498 Buyer shall notify Seller within 3 _ days after such review time period regarding any unresolved Title Objections. In 499 such case, Xxxxx’s remedy options and the specified time periods (a-c herein), shall repeat one additional time. Thereafter, 500 unless Buyer waives any remaining Title Objections and closes this transaction anyway, or Seller cures any remaining 501 Title Objections within the specified time period, Buyer and Seller shall sign a Cancellation of Purchase Agreement and 502 Buyer shall be entitled to a full refund of the Xxxxxxx Money. If Xxxxx fails to act in a timely manner according to this 503 paragraph, it shall be considered a waiver of Buyer’s rights herein. Seller’s Breach 504 505 506 507 508 509 510 511 512 513 514 Arbitration 515 Buyer waives all rights related to; specific performance, recording a lis pendens, recording this Purchase Agreement, recording an affidavit or memorandum, or impairing title to the Property in any other manner. If Seller breaches this Purchase Agreement for any reason, Xxxxx’s recourse shall be limited to the following, as liquidated damages; a) a full refund of Buyer’s Xxxxxxx Money, and b) reimbursement of Xxxxx’s actual and reasonable out-of-pocket costs related to Buyer-favored contingencies. Seller’s liability for Buyer’s actual and reasonable out-of-pocket costs shall not exceed $ 10,000.00 and shall be paid by Seller to Buyer only if; a) Seller’s breach occurs after Seller’s receipt of a Title Commitment confirming Seller is able to convey good, marketable, and fee simple title to the Property to Buyer by the type of deed specified herein on the Closing Date, and b) Seller receives documentation of Buyer’s actual and reasonable out-of-pocket costs within 7 days after Xxxxx’s request for reimbursement. 516 517 518 519 520 521 522 523 524 525 526 527 528 529 Participation: Except for Xxxxxxx Money disputes which shall be resolved by the Xxxxxxx Money Holder as described in the Xxxxxxx Money Disputes section, if any other disputes arise between Buyer and Seller related to this Purchase Agreement, Buyer and Seller shall use arbitration in accordance with the commercial arbitration rules of the American Arbitration Association. Any judgment rendered by the arbitrator(s) may be entered in any court of competent jurisdiction. Depositions may be taken and other discovery may be obtained during such arbitration proceedings to the same extent as authorized in a civil judicial proceeding in the Transaction State. The arbitrator(s) shall be limited to awarding compensatory damages and shall not award punitive, exemplary, and/or similar types of damages.

Title Objections. Buyer shall provide have 30 days from the Binding Agreement Date in which to furnish Seller with a list written statement of all any title objections (hereinafter “Title Objections”) in writing within 10 days after Buyer receipt objections, UCC-1 or UCC-2 Financing Statements, and encroachments, and other facts affecting the marketability of the Property as revealed by a Title Commitmentcurrent title examination and survey. Seller shall have until 30 days from the Closing Date to cure all valid Title Objections receipt of such objections (hereinafter the “Title Cure Period”)) to cure all valid title objections. Seller shall satisfy all any existing liens or monetary encumbrances identified by Buyer as valid Title Objections title objections which can may be satisfied by the payment on of a sum certain prior to or before the Closing Dateat Closing. Except for Seller’s obligations in 491 the preceding sentence, if Seller fails to cure any of Xxxxx’s other valid Title Objections title objections of Buyer within the Title Cure Period (and 492 fails to provide Buyer with evidence of Seller’s cure satisfactory to Buyer, Settlement Provider, Buyer and title insurance 493 companyto the Title Company), then within five days of the expiration of the Title Cure Period, Buyer may, may as XxxxxBuyer’s sole remedy; aremedies: (1) unilaterally cancel this Purchase Agreement within 7 days by 494 providing written notice to Seller indicating rescind the reason for the cancellation. In such casetransaction contemplated hereby, in which case Buyer shall be entitled to a full 495 the return of the Buyer’s Xxxxxxx Money, b; (2) waive any such Title Objections objections and elect to close this the transaction anyway, contemplated hereby irrespective of such title objections and without reduction of the Purchase Price; or c(3) extend the Closing 496 Date for 30 a period of up to fifteen days to allow Seller additional further time to cure such valid Title Objectionstitle objections. Buyer shall have 7 days 497 following the completion of such extension to cure to re-examine title to ensure the proper cure of such Title Objections. 498 Buyer shall notify Seller within 3 _ days after such review time period regarding any unresolved Title Objections. In 499 such case, Xxxxx’s remedy options and the specified time periods (a-c herein), shall repeat one additional time. Thereafter, 500 unless Buyer waives any remaining Title Objections and closes this transaction anyway, or Seller cures any remaining 501 Title Objections within the specified time period, Buyer and Seller shall sign a Cancellation of Purchase Agreement and 502 Buyer shall be entitled to a full refund of the Xxxxxxx Money. If Xxxxx fails Failure to act in a timely manner according to under this 503 paragraph, it paragraph shall be considered constitute a waiver of Buyer’s rights hereinhereunder. Seller’s Breach 504 505 506 507 508 509 510 511 512 513 514 Arbitration 515 Buyer waives all rights related to; specific performance, recording a lis pendens, recording this Purchase Agreement, recording an affidavit or memorandum, or impairing shall have the right to re-examine title prior to Closing and notify Seller at Closing of any title objections which appear of record after the Property in any other manner. If Seller breaches this Purchase Agreement for any reason, Xxxxx’s recourse shall be limited to the following, as liquidated damages; a) a full refund date of Buyer’s Xxxxxxx Money, initial title examination and b) reimbursement of Xxxxx’s actual and reasonable out-of-pocket costs related to Buyer-favored contingencies. Seller’s liability for Buyer’s actual and reasonable out-of-pocket costs shall not exceed $ 10,000.00 and shall be paid by Seller to Buyer only if; a) Seller’s breach occurs after Seller’s receipt of a Title Commitment confirming Seller is able to convey good, marketable, and fee simple title to the Property to Buyer by the type of deed specified herein on the Closing Date, and b) Seller receives documentation of Buyer’s actual and reasonable out-of-pocket costs within 7 days after Xxxxx’s request for reimbursement. 516 517 518 519 520 521 522 523 524 525 526 527 528 529 Participation: Except for Xxxxxxx Money disputes which shall be resolved by the Xxxxxxx Money Holder as described in the Xxxxxxx Money Disputes section, if any other disputes arise between Buyer and Seller related to this Purchase Agreement, Buyer and Seller shall use arbitration in accordance with the commercial arbitration rules of the American Arbitration Association. Any judgment rendered by the arbitrator(s) may be entered in any court of competent jurisdiction. Depositions may be taken and other discovery may be obtained during such arbitration proceedings to the same extent as authorized in a civil judicial proceeding in the Transaction State. The arbitrator(s) shall be limited to awarding compensatory damages and shall not award punitive, exemplary, and/or similar types of damagesbefore Closing.

Title Objections. Within thirty (30) days following receipt of the preliminary title reports referred to in Section 4.3, Buyer shall provide (a) review the form of Title Commitment and any related correspondence or information provided by Seller with a list to the Title Company for each of all title objections the Purchased Premises and (hereinafter “Title Objections”b) in writing within 10 days after Buyer receipt give written notice to Seller of a Title Commitment. Seller shall have until the Closing Date to cure all valid any Material Title Objections which Buyer or their lender may have to title. Material Title Objections shall not include the encumbrances set forth on Schedule 4.4 (hereinafter “Title Cure PeriodPermitted Encumbrances”). Seller is not obligated to cure title defects, remove encumbrances or convey an estate greater than it owned on the Execution Date. Should a title examination disclose unpaid or possible unpaid franchise taxes due the State by Seller, such taxes shall not be considered a Material Title Objection, provided Seller furnishes Buyer or the Title Company a letter agreeing to satisfy all liens any delinquency for such taxes. Within fifteen (15) days after receipt of Buyer’s notice of Material Title Objections, Seller shall commence to use its commercially reasonable efforts to cure the Material Title Objections to the reasonable satisfaction of the Title Company or encumbrances identified by reach an agreement with Buyer as valid to the resolution of the Material Title Objections which can be satisfied by payment on or before the Closing DateObjections. Except for Seller’s obligations in 491 the preceding sentence, if If Seller fails is unable to cure any of Xxxxx’s other valid a Material Title Objections Objection and the Parties are unable or unwilling to reach agreement with respect to such Material Title Objection within the Title Cure Period five (and 492 fails to provide Buyer with evidence of Seller’s cure satisfactory to Buyer, Settlement Provider, and title insurance 493 company)5) days, Buyer may, as Xxxxxat Buyer’s sole remedy; option, either (a) unilaterally cancel this Purchase Agreement within 7 days by 494 providing written notice to Seller indicating the reason for the cancellation. In such case, Buyer shall be entitled to a full 495 return of the Xxxxxxx Money, b) waive such uncured Material Title Objections Objection and close proceed with the transactions contemplated by this transaction anywayAgreement; or (b) if Buyer does not so waive such uncured Material Title Objection, or cthen drop the applicable Purchased Premises from this Agreement pursuant to Section 2.3 (Dropped Premises) extend and consummate the Closing 496 Date for 30 days to allow Seller additional time to cure such valid Title Objections. Buyer shall have 7 days 497 following the completion of such extension to cure to re-examine title to ensure the proper cure of such Title Objections. 498 Buyer shall notify Seller within 3 _ days after such review time period regarding any unresolved Title Objections. In 499 such case, Xxxxx’s remedy options and the specified time periods (a-c herein), shall repeat one additional time. Thereafter, 500 unless Buyer waives any remaining Title Objections and closes this transaction anyway, or Seller cures any remaining 501 Title Objections within the specified time period, Buyer and Seller shall sign a Cancellation of Purchase Agreement and 502 Buyer shall be entitled to a full refund purchase of the Xxxxxxx Moneyremaining Purchased Premises. If Xxxxx fails to act in a timely manner according to this 503 paragraph, it shall be considered a waiver of Buyer’s rights herein. Seller’s Breach 504 505 506 507 508 509 510 511 512 513 514 Arbitration 515 Buyer waives all rights related to; specific performance, recording a lis pendens, recording this Purchase Agreement, recording an affidavit Notwithstanding the preceding sentence or memorandum, or impairing title to the Property in any other manner. If Seller breaches provision of this Purchase Agreement for any reason, Xxxxx’s recourse shall be limited to the following, as liquidated damages; a) a full refund of Buyer’s Xxxxxxx Money, and b) reimbursement of Xxxxx’s actual and reasonable out-of-pocket costs related to Buyer-favored contingencies. Seller’s liability for Buyer’s actual and reasonable out-of-pocket costs shall not exceed $ 10,000.00 and shall be paid by Seller to Buyer only if; a) Seller’s breach occurs after Seller’s receipt of a Title Commitment confirming Seller is able to convey good, marketable, and fee simple title to the Property to Buyer by the type of deed specified herein on the Closing Date, and b) Seller receives documentation of Buyer’s actual and reasonable out-of-pocket costs within 7 days after Xxxxx’s request for reimbursement. 516 517 518 519 520 521 522 523 524 525 526 527 528 529 Participation: Except for Xxxxxxx Money disputes which shall be resolved by the Xxxxxxx Money Holder as described in the Xxxxxxx Money Disputes section, if any other disputes arise between Buyer and Seller related to this Purchase Agreement, Buyer and Seller shall use arbitration in accordance with the commercial arbitration rules of the American Arbitration Association. Any judgment rendered by the arbitrator(s) may be entered in any court of competent jurisdiction. Depositions may be taken and other discovery may be obtained during such arbitration proceedings to the same extent as authorized in a civil judicial proceeding in the Transaction State. The arbitrator(s) shall be limited to awarding compensatory damages and shall not award punitive, exemplary, and/or similar types of damages.the

Title Objections. Within fifteen (15) days after receiving the later of the Title Commitment or the Survey for the Terminal, Buyer shall provide notify Seller with a list of all title objections (hereinafter “if the Title Commitment or Survey for that Survey reveals any Title Objections”. If Seller is unable or unwilling to cure any Title Objections, Seller will provide written notice thereof to Buyer within fifteen (15) in writing within 10 days after Buyer following receipt of notice of Title Objections from Buyer and Buyer shall have the right, at its option, by written notice to Seller within fifteen (15) days following receipt of Seller's written notice, either (i) to terminate the Pipeline Purchase and Sale Agreement in accordance with the terms thereof and obtain from Seller 50% of the cost of the Survey for the Terminal, whereafter both Parties shall be relieved and discharged of any rights, liabilities or obligations hereunder, or (ii) to waive such defect and proceed to Closing. Buyer's failure to exercise the right to terminate within the said fifteen (15) day period shall constitute a waiver of Buyer's right to terminate with respect to such title matters. However, if Seller elects to cure the Title Commitment. Objections (although Seller will have no such obligation to do so), Seller shall provide Buyer with notice of its intention to cure same within the fifteen (15) days aforesaid and Seller shall have until an opportunity, at its expense, to remove such Title Objections within sixty (60) days following receipt of written notice from Buyer identifying the Closing Date to cure all valid Title Objections (hereinafter “the "Title Cure Period”"). In no event shall Seller shall satisfy all liens have any obligation to commence litigation or encumbrances identified by Buyer as valid to incur costs in excess of One Thousand Dollars ($1,000.00) to cure or remove any Title Objections which can be satisfied by payment on or before the Closing DateObjections. Except for Seller’s obligations in 491 the preceding sentence, if If Seller fails is unable to cure any of Xxxxx’s other valid Title Objections within the Title Cure Period (and 492 fails to provide Buyer with evidence that, in the reasonable opinion of Seller’s cure satisfactory to the Title Company or Buyer, Settlement Provider, must be cured in order to deliver good and title insurance 493 company)marketable title, Buyer may, as Xxxxx’s its sole and exclusive remedy; a) unilaterally cancel this Purchase Agreement within 7 days by 494 providing , and upon written notice to Seller indicating the reason for the cancellation. In such case, Buyer shall be entitled to a full 495 return within fifteen (15) days after expiration of the Xxxxxxx MoneyTitle Cure Period, belect either to (i) waive such Title Objections terminate the Pipeline Purchase and close this transaction anyway, or c) extend the Closing 496 Date for 30 days to allow Seller additional time to cure such valid Title Objections. Buyer shall have 7 days 497 following the completion of such extension to cure to re-examine title to ensure the proper cure of such Title Objections. 498 Buyer shall notify Seller within 3 _ days after such review time period regarding any unresolved Title Objections. In 499 such case, Xxxxx’s remedy options and the specified time periods (a-c herein), shall repeat one additional time. Thereafter, 500 unless Buyer waives any remaining Title Objections and closes this transaction anyway, or Seller cures any remaining 501 Title Objections within the specified time period, Buyer and Seller shall sign a Cancellation of Purchase Sale Agreement and 502 Buyer shall be entitled to a full refund of the Xxxxxxx Money. If Xxxxx fails to act in a timely manner according to this 503 paragraph, it shall be considered a waiver of Buyer’s rights herein. Seller’s Breach 504 505 506 507 508 509 510 511 512 513 514 Arbitration 515 Buyer waives all rights related to; specific performance, recording a lis pendens, recording this Purchase Agreement, recording an affidavit or memorandum, or impairing title to the Property in any other manner. If Seller breaches this Purchase Agreement for any reason, Xxxxx’s recourse shall be limited to the following, as liquidated damages; a) a full refund of Buyer’s Xxxxxxx Money, and b) reimbursement of Xxxxx’s actual and reasonable out-of-pocket costs related to Buyer-favored contingencies. Seller’s liability for Buyer’s actual and reasonable out-of-pocket costs shall not exceed $ 10,000.00 and shall be paid by Seller to Buyer only if; a) Seller’s breach occurs after Seller’s receipt of a Title Commitment confirming Seller is able to convey good, marketable, and fee simple title to the Property to Buyer by the type of deed specified herein on the Closing Date, and b) Seller receives documentation of Buyer’s actual and reasonable out-of-pocket costs within 7 days after Xxxxx’s request for reimbursement. 516 517 518 519 520 521 522 523 524 525 526 527 528 529 Participation: Except for Xxxxxxx Money disputes which shall be resolved by the Xxxxxxx Money Holder as described in the Xxxxxxx Money Disputes section, if any other disputes arise between Buyer and Seller related to this Purchase Agreement, Buyer and Seller shall use arbitration in accordance with the commercial arbitration rules terms thereof and obtain from Seller 50% of the American Arbitration Association. Any judgment rendered by cost of the arbitrator(s) may be entered in any court of competent jurisdiction. Depositions may be taken and other discovery may be obtained during such arbitration proceedings to the same extent as authorized in a civil judicial proceeding in the Transaction State. The arbitrator(s) Survey, whereafter both Parties shall be limited relieved and discharged of any rights, liabilities or obligations hereunder, or (ii) to awarding compensatory damages waive such defect and shall not award punitive, exemplary, and/or similar types any other obligation under this Appendix of damagesSeller to deliver good and marketable title with respect to such defect and proceed to Closing.

Title Objections. Buyer (i) Within seven (7) days after the Purchaser’s receipt of both a Title Commitment and the related Survey for each Property, Purchaser shall provide notify Seller with in writing of Purchaser’s objection to any exceptions or other title matters shown on any Title Commitment or the related Survey (each, a list of all title objections (hereinafter “Title ObjectionsObjection”). At least five (5) days prior to the Closing Date, Seller shall notify Purchaser whether it will attempt to cure the Title Objections and which, if not all, Title Objections it will attempt to cure. Based on Seller’s response, Purchaser may elect to (A) give Seller additional time to cure, and the parties will delay Closing for the period of time necessary for Seller to attempt to cure, not to exceed 30 days beyond the original Closing Date, (B) terminate the Agreement, in writing within 10 days after Buyer receipt of a which event neither party will have any further obligations or liability hereunder, except for those obligations expressly stated to survive such termination; or (C) remove the applicable Property or Properties from the Properties to be conveyed hereunder, with an adjustment to the Purchase Price, as agreed upon by Purchaser and Seller, and proceed to close with respect to the remaining Properties. If Purchaser elects to have Seller attempt to cure the Title Commitment. Objections that Seller agreed to address, Seller shall have until the option to extend the Closing Date -- and the parties shall execute an amendment to this Agreement to that effect -- up to 30 days in order to cure all valid such of those Title Objections (hereinafter “Title Cure Period”)Seller has agreed to 4848-2670-9558.6 STORE/Synalloy Purchase and Sale Agreement 6 Properties in OH, SC, TN and TX File No. 7210/02-475 cure. If Seller shall satisfy all liens or encumbrances identified by Buyer as valid is unable to cure those Title Objections which can be satisfied by payment it has agreed to cure within the agreed-upon time period, then Purchaser shall have the option, as its sole remedy, upon written notice to Seller on or before the Closing Date. Except for Seller’s obligations in 491 the preceding sentence, if Seller fails to cure any of Xxxxx’s other valid Title Objections within the Title Cure Period (and 492 fails to provide Buyer with evidence of Seller’s cure satisfactory to Buyer, Settlement Provider, and title insurance 493 company), Buyer may, as Xxxxx’s sole remedy; a) unilaterally cancel this Purchase Agreement within 7 days by 494 providing written notice to Seller indicating the reason for the cancellation. In such case, Buyer shall be entitled to a full 495 return of the Xxxxxxx Money, b) waive such Title Objections and close this transaction anyway, or c) extend the Closing 496 Date for 30 days to allow Seller additional time to cure such valid Title Objections. Buyer shall have 7 days 497 following the completion of such extension to cure to re-examine title to ensure the proper cure of such Title Objections. 498 Buyer shall notify Seller within 3 _ days after such review time period regarding any unresolved Title Objections. In 499 such case, Xxxxx’s remedy options and the specified time periods (a-c herein), shall repeat one additional time. Thereafter, 500 unless Buyer waives any remaining Title Objections and closes this transaction anyway, or Seller cures any remaining 501 Title Objections within the specified time period, Buyer and Seller shall sign a Cancellation of Purchase Agreement and 502 Buyer shall be entitled to a full refund of the Xxxxxxx Money. If Xxxxx fails to act in a timely manner according to this 503 paragraph, it shall be considered a waiver of Buyer’s rights herein. Seller’s Breach 504 505 506 507 508 509 510 511 512 513 514 Arbitration 515 Buyer waives all rights related to; specific performance, recording a lis pendens, recording this Purchase Agreement, recording an affidavit or memorandum, or impairing title to the Property in any other manner. If Seller breaches this Purchase Agreement for any reason, Xxxxx’s recourse shall be limited to the following, as liquidated damages; a) a full refund of Buyer’s Xxxxxxx Money, and b) reimbursement of Xxxxx’s actual and reasonable out-of-pocket costs related to Buyer-favored contingencies. Seller’s liability for Buyer’s actual and reasonable out-of-pocket costs shall not exceed $ 10,000.00 and shall be paid by Seller to Buyer only if; a) Seller’s breach occurs after Seller’s receipt of a Title Commitment confirming Seller is able to convey good, marketable, and fee simple title to the Property to Buyer by the type of deed specified herein on the amended Closing Date, and bto (A) Seller receives documentation of Buyer’s actual and reasonable out-of-pocket costs within 7 days after Xxxxx’s request for reimbursement. 516 517 518 519 520 521 522 523 524 525 526 527 528 529 Participation: Except for Xxxxxxx Money disputes which shall be resolved by the Xxxxxxx Money Holder as described in the Xxxxxxx Money Disputes section, if any other disputes arise between Buyer and Seller related to terminate this Purchase Agreement, Buyer and Seller shall use arbitration in accordance which event neither party will have any further obligations or liability hereunder, except for those obligations expressly stated to survive such termination; or (B) remove the applicable Property or Properties from the Properties to be conveyed hereunder, with the commercial arbitration rules of the American Arbitration Association. Any judgment rendered by the arbitrator(s) may be entered in any court of competent jurisdiction. Depositions may be taken and other discovery may be obtained during such arbitration proceedings an adjustment to the same extent Purchase Price, as authorized in a civil judicial proceeding in agreed upon by Purchaser and Seller, and proceed to close with respect to the Transaction State. The arbitrator(s) shall be limited to awarding compensatory damages and shall not award punitive, exemplary, and/or similar types of damagesremaining Properties.

Title Objections. Buyer shall provide have 30 days from the Binding Agreement date in which to furnish Seller with a list written statement of all any title objections (hereinafter “Title Objections”) in writing within 10 days after Buyer receipt objections, UCC-1 or UCC-2 Financing Statements, and encroachments, and other facts affecting the marketability of the Property as revealed by a Title Commitmentcurrent title examination and survey. Seller shall have until 14 days from the Closing Date receipt of such objections (the "Title Cure Period") to cure all valid Title Objections (hereinafter “Title Cure Period”)title objections. Seller shall satisfy all any existing liens or monetary encumbrances identified by Buyer as valid Title Objections which can may be satisfied by the payment on or before the Closing Dateof a sum certain prior to Closing. Except for Seller’s 's obligations in 491 the preceding sentence, if Seller fails to cure any of Xxxxx’s other valid Title Objections title objections of Buyer within the Title Cure Period (and 492 fails to provide Buyer with evidence of Seller’s 's cure satisfactory to Buyer, Settlement Provider, Buyer and title insurance 493 companyto the Title Company), then within five days of the expiration of the Title Cure Period, Buyer maymay as Buyer's sole remedies: (1) rescind the transaction contemplated hereby, as Xxxxx’s sole remedy; a) unilaterally cancel this Purchase Agreement within 7 days by 494 providing written notice to Seller indicating the reason for the cancellation. In such case, in which case Buyer shall be entitled to a full 495 the return of the Buyer's Xxxxxxx Money, b; (2) waive any such Title Objections objections and elect to close this the transaction anyway, contemplated hereby irrespective of such title objections and without reduction of the Purchase Price; or c(3) extend the Closing 496 Date for 30 a period of up to fifteen days to allow Seller additional further time to cure such valid Title Objectionstitle objections. Buyer shall have 7 days 497 following the completion of such extension to cure to re-examine title to ensure the proper cure of such Title Objections. 498 Buyer shall notify Seller within 3 _ days after such review time period regarding any unresolved Title Objections. In 499 such case, Xxxxx’s remedy options and the specified time periods (a-c herein), shall repeat one additional time. Thereafter, 500 unless Buyer waives any remaining Title Objections and closes this transaction anyway, or Seller cures any remaining 501 Title Objections within the specified time period, Buyer and Seller shall sign a Cancellation of Purchase Agreement and 502 Buyer shall be entitled to a full refund of the Xxxxxxx Money. If Xxxxx fails Failure to act in a timely manner according to under this 503 paragraph, it paragraph shall be considered constitute a waiver of Buyer’s 's rights hereinhereunder. Seller’s Breach 504 505 506 507 508 509 510 511 512 513 514 Arbitration 515 Buyer waives all rights related to; specific performance, recording a lis pendens, recording this Purchase Agreement, recording an affidavit or memorandum, or impairing shall have the right to re-examine title prior to Closing and notify Seller at Closing of any title objections which appear of record after the Property in any other manner. If Seller breaches this Purchase Agreement for any reason, Xxxxx’s recourse shall be limited to the following, as liquidated damages; a) a full refund date of Buyer’s Xxxxxxx Money, 's initial title examination and b) reimbursement of Xxxxx’s actual and reasonable out-of-pocket costs related to Buyer-favored contingencies. Seller’s liability for Buyer’s actual and reasonable out-of-pocket costs shall not exceed $ 10,000.00 and shall be paid by Seller to Buyer only if; a) Seller’s breach occurs after Seller’s receipt of a Title Commitment confirming Seller is able to convey good, marketable, and fee simple title to the Property to Buyer by the type of deed specified herein on the Closing Date, and b) Seller receives documentation of Buyer’s actual and reasonable out-of-pocket costs within 7 days after Xxxxx’s request for reimbursement. 516 517 518 519 520 521 522 523 524 525 526 527 528 529 Participation: Except for Xxxxxxx Money disputes which shall be resolved by the Xxxxxxx Money Holder as described in the Xxxxxxx Money Disputes section, if any other disputes arise between Buyer and Seller related to this Purchase Agreement, Buyer and Seller shall use arbitration in accordance with the commercial arbitration rules of the American Arbitration Association. Any judgment rendered by the arbitrator(s) may be entered in any court of competent jurisdiction. Depositions may be taken and other discovery may be obtained during such arbitration proceedings to the same extent as authorized in a civil judicial proceeding in the Transaction State. The arbitrator(s) shall be limited to awarding compensatory damages and shall not award punitive, exemplary, and/or similar types of damagesbefore Closing.

Title Objections. Buyer shall provide Seller with a list of all title objections (hereinafter “Title Objections”) in writing within 10 days after Buyer receipt of a Title Commitment. Seller shall have until the Closing Date to cure all valid Title Objections (hereinafter “Title Cure Period”). Seller shall satisfy all liens or encumbrances identified by Buyer as valid Title Objections which can be satisfied by payment on or before the Closing Date. Except for Seller’s obligations in 491 the preceding sentence, if Seller fails to cure any of XxxxxBuyer’s other valid Title Objections within the Title Cure Period (and 492 fails to provide Buyer with evidence of Seller’s cure satisfactory to Buyer, Settlement Provider, and title insurance 493 company), Buyer may, as XxxxxBuyer’s sole remedy; a) unilaterally cancel this Purchase Agreement within 7 days by 494 providing written notice to Seller indicating the reason for the cancellation. In such case, Buyer shall be entitled to a full 495 return of the Xxxxxxx Money, b) waive such Title Objections and close this transaction anyway, or c) extend the Closing 496 Date for 30 days to allow Seller additional time to cure such valid Title Objections. Buyer shall have 7 days 497 following the completion of such extension to cure to re-examine title to ensure the proper cure of such Title Objections. 498 Buyer shall notify Seller within 3 _ days after such review time period regarding any unresolved Title Objections. In 499 such case, XxxxxBuyer’s remedy options and the specified time periods (a-c herein), shall repeat one additional time. Thereafter, 500 unless Buyer waives any remaining Title Objections and closes this transaction anyway, or Seller cures any remaining 501 Title Objections within the specified time period, Buyer and Seller shall sign a Cancellation of Purchase Agreement and 502 Buyer shall be entitled to a full refund of the Xxxxxxx Money. If Xxxxx Buyer fails to act in a timely manner according to this 503 paragraph, it shall be considered a waiver of Buyer’s rights herein. Seller’s Breach 504 505 506 507 508 509 510 511 512 513 514 Arbitration 515 Buyer waives all rights related to; specific performance, recording a lis pendens, recording this Purchase Agreement, recording an affidavit or memorandum, or impairing title to the Property in any other manner. If Seller breaches this Purchase Agreement for any reason, XxxxxBuyer’s recourse shall be limited to the following, as liquidated damages; a) a full refund of Buyer’s Xxxxxxx Money, and b) reimbursement of XxxxxBuyer’s actual and reasonable out-of-pocket costs related to Buyer-favored contingencies. Seller’s liability for Buyer’s actual and reasonable out-of-pocket costs shall not exceed $ 10,000.00 and shall be paid by Seller to Buyer only if; a) Seller’s breach occurs after Seller’s receipt of a Title Commitment confirming Seller is able to convey good, marketable, and fee simple title to the Property to Buyer by the type of deed specified herein on the Closing Date, and b) Seller receives documentation of Buyer’s actual and reasonable out-of-pocket costs within 7 days after XxxxxBuyer’s request for reimbursement. 516 517 518 519 520 521 522 523 524 525 526 527 528 529 Participation: Except for Xxxxxxx Money disputes which shall be resolved by the Xxxxxxx Money Holder as described in the Xxxxxxx Money Disputes section, if any other disputes arise between Buyer and Seller related to this Purchase Agreement, Buyer and Seller shall use arbitration in accordance with the commercial arbitration rules of the American Arbitration Association. Any judgment rendered by the arbitrator(s) may be entered in any court of competent jurisdiction. Depositions may be taken and other discovery may be obtained during such arbitration proceedings to the same extent as authorized in a civil judicial proceeding in the Transaction State. The arbitrator(s) shall be limited to awarding compensatory damages and shall not award punitive, exemplary, and/or similar types of damages.