Common use of Title Review; Survey Clause in Contracts

Title Review; Survey. a. Seller will deliver with this agreement a commitment for title insurance with copies of all recorded Schedule B items set forth therein ("Title Report") pertaining to the Property. Seller will deliver with this Agreement to Buyer the existing surveys of the Property, if any (the "Surveys"). b. Buyer shall be entitled to object to any matters disclosed by the Title Report or Surveys by delivering written notice of such objection to Seller and Escrow Agent on or before the date which is ten (10) days after the Opening of Escrow. Said notices of objection shall specify in reasonable detail any matter to which Buyer objects. If Escrow Agent subsequently issues any amended commitment for title insurance disclosing any additional Schedule B matters or if Buyer subsequently receives an amended survey reflecting additional Schedule B matters, Buyer shall be entitled to reasonably object to any matters not previously disclosed in the initial Title Report or the initial Surveys by delivering written notice of such objection to Seller and Escrow Agent on or before ten (10) days after Escrow Agent has delivered to Buyer the amended title commitment or ten (10) days after Buyer's receipt of the amended survey, said notice to specify in reasonable detail any matter to which Buyer objects. Buyer shall be deemed to have approved the Title Report and Surveys and any amendments if it fails to notify Seller and Escrow Agent in writing of its objections within the respective periods provided herein. c. After receipt of Buyer's objections, if any, Seller shall at its option, either (i) terminate this Agreement by sending written notice to Buyer and Escrow Agent (subject to Buyer's right to cancel said termination provided for below) if it cannot or is unwilling to cure the objections or (ii) attempt to eliminate the matters to which Buyer has objected within fifteen (15) days after receipt of Buyer's objections. Notwithstanding the foregoing, Seller shall not be required to satisfy any pecuniary encumbrances until Closing. If Seller elects to terminate this Agreement as provided above by sending written notice to Buyer, this Agreement and the Escrow shall automatically terminate on the date ten (10) days after Buyer and Escrow Agent receive written notice of such termination, unless Buyer elects to cancel such termination and waive its objections to said matters by written notice to Seller and Escrow Agent delivered within the ten (10) day period. Seller agrees to use reasonable efforts to give notice to Buyer as to its election of the above options in favor of Seller; provided, however, if, within fifteen (15) days after receipt by Seller of Buyer's objections, Seller has not either (i) sent written notice terminating as provided above or (ii) sent written notice agreeing to cure said objections or caused the matters to which Buyer has objected to be eliminated, then in such event Seller shall be deemed to have sent notice to Buyer terminating this Agreement, with such deemed notice to be deemed to have been sent and received upon the expiration of said fifteen (15) day period, and in such event this Agreement and Escrow shall terminate unless Buyer waives its objections by written notice delivered to Seller and Escrow Agent on or before two (2) days after the expiration of said fifteen (15) day period. In the event of any termination pursuant to this paragraph, the Xxxxxxx Money Deposit delivered to Escrow Agent shall be promptly refunded or returned to Buyer, Buyer shall deliver copies of any nonproprietary studies, reports or tests pertaining to the Property, and Seller and Buyer shall have no further obligation or liability to one another regarding the sale or purchase of the Property, except as to the specific indemnification provisions otherwise provided for in this Agreement.

Title Review; Survey. a. Seller will shall promptly request Escrow Holder to order from First American Title Company (“Title Company”) and deliver with this agreement to Buyer a commitment for title insurance preliminary report covering the Property (“Preliminary Title Report”) together with copies of all documents referenced in the Preliminary Title Report recorded Schedule B items set forth therein ("Title Report") pertaining to against the Property. Seller will deliver with this Agreement to Buyer the existing surveys of the Property, if any Property (the "Surveys"Preliminary Title Report and such documents are referred to herein collectively as the “Title Documents”). b. . Buyer shall be entitled to object to any matters disclosed by the Title Report or Surveys by delivering written notice of such objection to Seller and Escrow Agent on or before the date which is have ten (10) business days after delivery of the Opening Preliminary Title Report (“Title Review Period”) to deliver written notice to Seller of Escrow. Said notices of objection shall specify those exceptions in reasonable detail any matter to which the Title Documents that Buyer objectsdisapproves (“Buyer’s Title Objection Notice”). If Escrow Agent subsequently issues any amended commitment for title insurance disclosing any additional Schedule B matters or if Buyer subsequently receives an amended survey reflecting additional Schedule B matters, Buyer shall be entitled fails to reasonably object deliver the Buyer’s Title Object Notice prior to any matters not previously disclosed in the initial Title Report or the initial Surveys by delivering written notice of such objection to Seller and Escrow Agent on or before ten (10) days after Escrow Agent has delivered to Buyer the amended title commitment or ten (10) days after Buyer's receipt expiration of the amended surveyTitle Review Period, said notice to specify in reasonable detail any matter to which Buyer objects. then Buyer shall be deemed to have approved all matters disclosed in the Title Report and Surveys and any amendments if it fails Documents (except those listed under Section 3 (b)(v)). If Buyer delivers the Buyer’s Title Objection Notice prior to notify the expiration of the Title Review Period, then Seller and Escrow Agent shall advise Buyer in writing of its objections any such exceptions that Seller agrees to remove at or prior to the Closing and the manner in which Seller shall do so, by delivering written notice thereof to Buyer (“Seller’s Response Notice”) within the respective periods provided herein. c. After receipt ten (10) business days after receiving Buyer’s Title Objection Notice. Seller’s failure to deliver Seller’s Response Notice shall be deemed to be Seller’s determination not to remove or cure any of Buyer's ’s title objections, if any, Seller shall at its option, either . Within ten (i10) terminate this Agreement by sending written notice to Buyer and Escrow Agent (subject to Buyer's right to cancel said termination provided for below) if it cannot or is unwilling to cure the objections or (ii) attempt to eliminate the matters to which Buyer has objected within fifteen (15) business days after receipt of Seller’s Response Notice (or deemed response) that it is not removing all exceptions disapproved by Buyer's objections. Notwithstanding the foregoing, Seller shall not be required Buyer may (A) by delivering written notice to satisfy any pecuniary encumbrances until Closing. If Seller elects to Seller, terminate this Agreement as provided above by sending written notice in which case neither Party shall have any rights or obligation to the other hereunder, or (B) waive Buyer, this Agreement and ’s objections to the Escrow shall automatically terminate on the date ten (10) days after Buyer and Escrow Agent receive written notice of such termination, unless Buyer elects disapproved exceptions which Seller will not remove. Buyer’s failure to cancel timely deliver such termination and waive its objections to said matters by written notice to Seller and Escrow Agent delivered within the ten (10) day period. Seller agrees to use reasonable efforts to give notice to Buyer as to its election of the above options in favor of Seller; provided, however, if, within fifteen (15) days after receipt by Seller of Buyer's objections, Seller has not either (i) sent written notice terminating as provided above or (ii) sent written notice agreeing to cure said objections or caused the matters to which Buyer has objected to be eliminated, then in such event Seller shall be deemed to have sent notice be Buyer’s approval of all matters disclosed in the Title Documents (subject to Buyer terminating this Agreement, with such deemed notice to be deemed to have been sent and received upon the expiration of said fifteen (15) day period, and in such event this Agreement and Escrow shall terminate unless Buyer waives its objections by written notice delivered to Seller and Escrow Agent on or before two (2) days after the expiration of said fifteen (15) day period. In the event of any termination pursuant to this paragraph, the Xxxxxxx Money Deposit delivered to Escrow Agent shall be promptly refunded or returned to Buyer, Buyer shall deliver copies of any nonproprietary studies, reports or tests pertaining to the Property, and Seller and Buyer shall have no further obligation or liability to one another regarding the sale or purchase removal of the Property, except as matters which Seller agreed to remove in the specific indemnification provisions otherwise provided for in this AgreementSeller’s Response Notice).

Title Review; Survey. a. (a) Prior to the Agreement Date, Seller will deliver has provided Buyer with this agreement a commitment for title insurance with copies copy of all recorded Schedule B items the survey of the Property contained in Seller’s files. Within sixty (60) days after the Agreement Date, Buyer may at Buyer’s sole cost and expense, obtain a survey of the Property (the “Survey”), which shall delineate and monument the exact boundary lines of the Land. The Survey shall set forth therein ("Title Report") pertaining to the Property. Seller will deliver with this Agreement to Buyer the existing surveys exact acreage of the PropertyLand and a metes and bounds description of the Land and shall be prepared by a New Hampshire registered surveyor. (b) If Buyer objects to any item, if any exception or other matter shown on either the Title Commitment or the Survey, Buyer shall have until the day that is sixty (60) days after the Agreement Date (the "Surveys"“Title Objection Period”) within which to notify Seller in writing of such objections (the “Title Objections”). b. . Following expiration of the Title Objection Period, Buyer shall be entitled have no further right to object to any matters disclosed by item, exception or other matter shown on either the Title Report Commitment or Surveys by delivering written notice the Survey, and no further right to terminate this Agreement pursuant to this Section 5(b). If Buyer makes any Title Objections, Seller shall have a period of ten (10) days (the “Cure Period”) from the date that Buyer notifies Seller of such objection Title Objections within which to eliminate or otherwise remedy (or state how such shall be eliminated or otherwise remedied at or prior to Closing) any such Title Objections. If Seller and Escrow Agent on fails or before declines within the date which is Cure Period to eliminate any such Title Objections (or state how such shall be eliminated or otherwise remedied at or prior to Closing), Buyer shall have the option, exercisable with ten (10) days after expiration of the Opening Cure Period (the “Decision Period”), to accept the status of Escrow. Said notices the title subject to such Title Objections and proceed with this Agreement, or give Seller written notice of objection shall specify in reasonable detail any matter to which Buyer objectstermination. If Escrow Agent subsequently issues any amended commitment for Xxxxx fails to give such notice before expiration of the Decision Period, Xxxxx will be deemed to have elected to accept such title insurance disclosing any additional Schedule B matters or if Buyer subsequently receives an amended survey reflecting additional Schedule B mattersto the Property as Seller is able to convey and all such covenants, Buyer restrictions and encumbrances that are the subject of Title Objections shall be deemed a part of the Permitted Exceptions. If this Agreement is terminated pursuant to this Section 5(b), both parties are released from all liabilities and obligations under this Agreement and neither party shall be entitled to reasonably object to any matters not previously disclosed in the initial damages or any other relief, and Title Report or the initial Surveys by delivering written notice of such objection to Seller and Escrow Agent on or before ten (10) days after Escrow Agent has delivered shall refund to Buyer the amended title commitment Xxxxxxx Money. In the event that Seller is unable or ten (10unwilling to eliminate or cure any Title Objections, the provisions of this Section 5(b) days after Buyer's receipt of the amended survey, said notice to specify in reasonable detail any matter to which Buyer objects. Buyer shall be deemed Buyer’s sole remedy for Seller’s inability to have approved the Title Report and Surveys and any amendments if convey title as required by this Agreement, it fails to notify Seller and Escrow Agent in writing of its objections within the respective periods provided herein. c. After receipt of Buyer's objections, if any, being understood that Seller shall at its option, either (i) terminate this Agreement by sending written notice to Buyer and Escrow Agent (subject to Buyer's right to cancel said termination provided for below) if it cannot or is unwilling have no obligation to cure the objections or (ii) attempt to eliminate the matters to which Buyer has objected within fifteen (15) days after receipt of Buyer's objections. Notwithstanding the foregoing, Seller shall not be required to satisfy any pecuniary encumbrances until Closing. If Seller elects to terminate this Agreement as provided above by sending written notice to Buyer, this Agreement and the Escrow shall automatically terminate on the date ten (10) days after Buyer and Escrow Agent receive written notice of such termination, unless Buyer elects to cancel such termination and waive its objections to said matters by written notice to Seller and Escrow Agent delivered within the ten (10) day period. Seller agrees to use reasonable efforts to give notice to Buyer as to its election of the above options in favor of Sellertitle defects; provided, however, if, within fifteen (15) days after receipt by Seller of Buyer's objections, Seller has not either (i) sent written notice terminating as provided above or (ii) sent written notice agreeing to cure said objections or caused the matters to which Buyer has objected to be eliminated, then in such event Seller shall be deemed obligated to have sent notice to Buyer terminating this Agreementremove any mortgages, with such deemed notice security interests, liens, tax or assessment liens or obligations (other than those which are Permitted Exceptions or are created or incurred as a consequence of the acts or omissions of Buyer) affecting the Property at Closing. (c) Seller agrees that from the Agreement Date through the Closing Date it will not, without the prior consent of Seller, cause to be deemed created any new encumbrances that affect the Property; provided, however, that prior to have been sent Closing Seller may finalize and received upon record the expiration of said fifteen Declaration (15) day perioddefined in Section 6), and in and/or Seller may make such event this Agreement and Escrow shall terminate unless Buyer waives its objections by written notice delivered to Seller and Escrow Agent on revisions or before two (2) days after the expiration of said fifteen (15) day period. In the event of any termination pursuant to this paragraph, the Xxxxxxx Money Deposit delivered to Escrow Agent shall be promptly refunded or returned to Buyer, Buyer shall deliver copies of any nonproprietary studies, reports or tests pertaining modifications to the Property, Declaration (defined in Section 6) as deemed reasonably appropriate by Seller so long as such changes do not materially and Seller adversely affect Buyer’s rights and Buyer shall have no further obligation or liability to one another regarding the sale or purchase of the Property, except obligations as to the specific indemnification provisions otherwise provided for in this Agreement.Property and/or Xxxxx’s use of the Property from that contemplated by the form Declaration attached as Exhibit C.

Title Review; Survey. a. Seller will deliver with this agreement a commitment for title insurance with copies of all recorded Schedule B items set forth therein ("Title Report") pertaining to the Property. Seller will deliver with this Agreement to Buyer the existing surveys of the Property, if any (the "Surveys"). b. Buyer shall be entitled to object to any matters makers disclosed by the Title Report or Surveys by delivering written notice of such objection to Seller and Escrow Agent on or before the date which is ten (10) days after the Opening of Escrow. Said notices of objection shall specify in reasonable detail any matter maker to which Buyer objects. If Escrow Agent subsequently issues any amended commitment for title insurance disclosing any additional Schedule B matters or if Buyer subsequently receives an amended survey reflecting additional Schedule B matters, Buyer shall be entitled to reasonably object to any matters not previously disclosed in the initial Title Report or the initial Surveys by delivering written notice of such objection to Seller and Escrow Agent on or before ten (10) days after Escrow Agent has delivered to Buyer the amended title commitment or ten (10) days after Buyer's receipt of the amended survey, said notice to specify in reasonable detail any matter maker to which Buyer objects. Buyer shall be deemed to have approved the Title Report and Surveys and any amendments if it fails to notify Seller and Escrow Agent in writing of its objections within the respective periods provided herein. c. After receipt of Buyer's objections, if any, Seller shall at its option, either (i) terminate this Agreement by sending written notice to Buyer and Escrow Agent (subject to Buyer's right to cancel said termination provided for below) if it cannot or is unwilling to cure the objections or (ii) attempt to eliminate the matters to which Buyer has objected within fifteen (15) days after receipt of Buyer's objections. Notwithstanding the foregoing, Seller shall not be required to satisfy any pecuniary encumbrances until Closing. If Seller elects to terminate this Agreement as provided above by sending written notice to Buyer, this Agreement and the Escrow shall automatically terminate on the date ten (10) days after Buyer and Escrow Agent receive written notice of such termination, unless Buyer elects to cancel such termination and waive its objections to said matters makers by written notice to Seller and Escrow Agent delivered within the ten (10) day period. Seller agrees to use reasonable efforts to give notice to Buyer as to its election of the above options in favor of Seller; provided, however, if, within fifteen (15) days after receipt by Seller of Buyer's objections, Seller has not either (i) sent written notice terminating as provided above or (ii) sent written notice agreeing to cure said objections or caused the matters makers to which Buyer has objected to be eliminated, then in such event Seller shall be deemed to have sent notice to Buyer terminating this Agreement, with such deemed notice to be deemed to have been sent and received upon the expiration of said fifteen (15) day period, and in such event this Agreement and Escrow shall terminate unless Buyer waives its objections by written notice delivered to Seller and Escrow Agent on or before two (2) days after the expiration of said fifteen (15) day period. In the event of any termination pursuant to this paragraph, the Xxxxxxx Money Deposit delivered to Escrow Agent shall be promptly refunded or returned to Buyer, Buyer shall deliver copies of any nonproprietary studies, reports or tests pertaining to the Property, and Seller and Buyer shall have no further obligation or liability to one another regarding the sale or purchase of the Property, except as to the specific indemnification provisions otherwise provided for in this Agreement.

Title Review; Survey. a. Seller will deliver Buyer and Sellers acknowledge that a copy of a preliminary title report with this agreement a commitment for title insurance with copies of all recorded Schedule B items set forth therein ("Title Report") pertaining respect to the Property. Seller will deliver with this Agreement to Buyer the existing surveys of the Property, if any (the "Surveys"). b. Buyer shall be entitled to object to any matters disclosed each Constituent Property issued by the Title Company (each, a “Preliminary Report”) has been made available to Buyer and Sellers with hyperlinks to the underlying exceptions for each Preliminary Report. Buyer shall have until 5:00 p.m. on Wednesday, May 21 (the “Title Review Period”) to notify Sellers in writing of those exceptions in each Preliminary Report or Surveys by delivering and any survey matters that Buyer disapproves with respect to each Constituent Party (“Buyer’s Title Objection Notice”). If Buyer fails to deliver such written notice of any exception or “Survey” (as hereinafter defined) matter disapproved by Buyer prior to the expiration of the Title Review Period, then such objection items shall be deemed approved by Buyer. If Buyer notifies Sellers of any exceptions or Survey matters it disapproves in the Buyer’s Title Objection Notice, then Sellers shall have until 5:00 p.m. on Friday, May 23 to Seller and Escrow Agent on advise Buyer in writing of any such exceptions or before Survey matters that Sellers agree to remove at or prior to the date which is ten (10) days after the Opening Close of Escrow. Said notices of objection shall specify in reasonable detail any matter Sellers’ failure to which Buyer objects. If Escrow Agent subsequently issues any amended commitment for title insurance disclosing any additional Schedule B matters or if Buyer subsequently receives an amended survey reflecting additional Schedule B matters, Buyer shall be entitled deliver a written response to reasonably object to any matters not previously disclosed in the initial Buyer’s Title Report or the initial Surveys by delivering written notice of such objection to Seller and Escrow Agent on or before ten (10) days after Escrow Agent has delivered to Buyer the amended title commitment or ten (10) days after Buyer's receipt of the amended survey, said notice to specify in reasonable detail any matter to which Buyer objects. Buyer Objection Notice shall be deemed to have approved be Sellers’ determination not to remove or cure any of Buyer’s title objections. Within one (1) business day after receipt of Sellers’ response (or deemed response) that it is not removing exceptions or Survey matters disapproved by Buyer, Buyer may (a) by delivering the Termination Notice, terminate this Agreement, or (b) waive Buyer’s objections to such disapproved exceptions. Buyer’s failure to timely deliver the Termination Notice shall be deemed to be Buyer’s approval of all title matters. Buyer acknowledges that it may obtain at its sole cost and expense current 2014 surveys of the Properties complying with ALTA/ACSM Minimum Standards in respect to each Constituent Property (each, a “Survey”, and collectively, the “Surveys”). In the event the Title Report and Surveys and any amendments if it fails to notify Seller and Escrow Agent in writing of its objections within the respective periods provided herein. c. After receipt of Buyer's objections, if any, Seller shall at its option, either (i) terminate this Agreement by sending Company delivers written notice to Buyer and Escrow Agent after Buyer’s delivery of Buyer’s Title Objection Notice of any new title issue in connection with the Preliminary Report, Buyer shall have five (subject to Buyer's right to cancel said termination provided for below) if it cannot or is unwilling to cure the objections or (ii) attempt to eliminate the matters to which Buyer has objected within fifteen (155) days after receipt of such notice (but not later than the Closing Date and in any event prior to Closing) to approve or disapprove such new title exception, in Buyer's objections. Notwithstanding the foregoing’s sole and absolute discretion, Seller shall not be required to satisfy any pecuniary encumbrances until Closing. If Seller elects to terminate this Agreement as provided above by sending written notice to Buyer, this Agreement and the Escrow shall automatically terminate on the date ten (10) days after Buyer and Escrow Agent receive written notice of such termination, unless Buyer elects to cancel such termination and waive its objections to said matters by written notice to Seller and Escrow Agent delivered within the ten (10) day period. Seller agrees to use reasonable efforts to give notice to Buyer as to its election of the above options in favor of Seller; provided, however, if, within fifteen (15) days after receipt by Seller of Buyer's objections, Seller has not either (i) sent written notice terminating as provided above or (ii) sent written notice agreeing to cure said objections or caused the matters to which Buyer has objected to be eliminated, then in such event Seller shall be deemed to have sent notice to Buyer terminating this Agreement, with such deemed notice to be deemed to have been sent and received upon the expiration of said fifteen (15) day periodSellers, and in the foregoing provisions of this Section 3.8.2 shall apply as if such event this Agreement and Escrow shall terminate unless Buyer waives its objections by written additional title objection notice delivered to Seller and Escrow Agent on or before two (2) days after were the expiration of said fifteen (15) day period. In the event of any termination pursuant to this paragraph, the Xxxxxxx Money Deposit delivered to Escrow Agent shall be promptly refunded or returned to Buyer, Buyer shall deliver copies of any nonproprietary studies, reports or tests pertaining to the Property, and Seller and Buyer shall have no further obligation or liability to one another regarding the sale or purchase of the Property, except as to the specific indemnification provisions otherwise provided for in this Agreement’s original title objection notice.

Title Review; Survey. a. Escrow Holder is hereby instructed to prepare and deliver the PTR to Buyer with a copy to Seller will deliver with within seven (7) business days of the Effective Date. Buyer may cause a new survey of the Property to be prepared at its own expense by a registered land surveyor duly licensed in the State of California (the “Survey”). Buyer shall have the right to disapprove any aspect of title and Survey (including, without limitation, exceptions appearing the in the PTR or Survey) before the Contingency Time pursuant to this agreement a commitment for title insurance with copies Section 4. Before the Contingency Time, Buyer may notify Seller in writing of all recorded Schedule B items set forth therein ("Title Report") pertaining any defects or objections to the Property. title appearing in the PTR (including any PTR Schedule B-1 requirements which Buyer wishes to require Seller will deliver with this Agreement to satisfy) or the Survey (“Title Defects”), provided that Buyer need not notify Seller of Removed Exceptions, and provided that Buyer rights shall include the existing surveys of the Property, if any (the "Surveys"). b. Buyer shall be entitled right to object to any matters disclosed Permitted Exceptions. Any failure by the Title Report or Surveys by delivering written Buyer to provide such notice of such objection to Seller and Escrow Agent on or before the date which is ten (10) days after the Opening of Escrow. Said notices of objection shall specify in reasonable detail any matter to which Buyer objects. If Escrow Agent subsequently issues any amended commitment for title insurance disclosing any additional Schedule B matters or if Buyer subsequently receives an amended survey reflecting additional Schedule B matters, Buyer shall be entitled to reasonably object to any matters not previously disclosed in the initial Title Report or the initial Surveys by delivering written notice of such objection to Seller and Escrow Agent on or before ten (10) days after Escrow Agent has delivered to Buyer the amended title commitment or ten (10) days after Buyer's receipt of the amended survey, said notice to specify in reasonable detail any matter to which Buyer objects. Buyer shall be deemed to have approved Buyer’s approval of the Title Report PTR and Surveys and any amendments if it fails to notify Seller and Escrow Agent in writing of its objections within the respective periods provided herein. c. After receipt of Buyer's objections, if any, Seller shall at its option, either Survey. No later than three (i) terminate this Agreement by sending written notice to Buyer and Escrow Agent (subject to Buyer's right to cancel said termination provided for below) if it cannot or is unwilling to cure the objections or (ii) attempt to eliminate the matters to which Buyer has objected within fifteen (153) days after receipt of Buyer's objections. Notwithstanding the foregoing’s notice of Title Defects, Seller shall not be required to satisfy any pecuniary encumbrances until Closing. If Seller elects to terminate this Agreement as provided above by sending provide written notice to Buyer, this Agreement and the Escrow Buyer of those Title Defects which Seller elects in its sole discretion to cure (which shall automatically terminate on the date ten (10) days after Buyer and Escrow Agent receive become thereby additional Removed Exceptions); provided that if Seller fails or elects not to deliver such written notice by the earlier of such termination, unless Buyer elects to cancel such termination and waive its objections to said matters by written notice to Seller and Escrow Agent delivered within 3 day period or the ten (10) day period. Seller agrees to use reasonable efforts to give notice to Buyer as to its election of the above options in favor of Seller; provided, however, if, within fifteen (15) days after receipt by Seller of Buyer's objections, Seller has not either (i) sent written notice terminating as provided above or (ii) sent written notice agreeing to cure said objections or caused the matters to which Buyer has objected to be eliminatedContingency Time, then in such event Seller shall be deemed to have sent notice elected not cure any such Title Defects. If Seller elects not to Buyer terminating this Agreementcure any Title Defects, with such deemed notice to be or is deemed to have been sent and received upon the expiration of said fifteen (15) day period, and in such event this Agreement and Escrow shall terminate unless Buyer waives its objections by written notice delivered elected not to Seller and Escrow Agent on or before two (2) days after the expiration of said fifteen (15) day period. In the event of cure any termination pursuant to this paragraph, the Xxxxxxx Money Deposit delivered to Escrow Agent shall be promptly refunded or returned to BuyerTitle Defects, Buyer shall deliver copies of any nonproprietary studies, reports or tests pertaining have the absolute right to the Property, and Seller and Buyer shall have no further obligation or liability to one another regarding the sale or purchase of the Property, except as to the specific indemnification provisions otherwise provided for in terminate this AgreementAgreement per Section 5.5.

Title Review; Survey. a. Seller will deliver Buyers and Sellers acknowledge that a copy of a preliminary title report with this agreement a commitment for title insurance with copies of all recorded Schedule B items set forth therein ("Title Report") pertaining respect to the Property. Seller will deliver with this Agreement to Buyer the existing surveys of the Property, if any (the "Surveys"). b. Buyer shall be entitled to object to any matters disclosed each Constituent Property issued by the Title Report or Surveys by delivering written notice Company (each, a “Preliminary Report”) has been made available to Buyers and Sellers with hyperlinks to the underlying exceptions for each Preliminary Report, together with a copy of such objection to Seller an ALTA survey for each Constituent Property (collectively, the “Existing Surveys”). Buyers hereby acknowledge and Escrow Agent on or before the date which is ten (10) days after the Opening of Escrow. Said notices of objection shall specify in reasonable detail any matter to which Buyer objects. If Escrow Agent subsequently issues any amended commitment for title insurance disclosing any additional Schedule B matters or if Buyer subsequently receives an amended survey reflecting additional Schedule B matters, Buyer shall be entitled to reasonably object to any matters not previously disclosed in the initial Title Report or the initial Surveys by delivering written notice of such objection to Seller and Escrow Agent on or before ten (10) days after Escrow Agent has delivered to Buyer the amended title commitment or ten (10) days after Buyer's receipt of the amended survey, said notice to specify in reasonable detail any matter to which Buyer objects. Buyer shall be deemed to have approved the Title Report and Surveys and any amendments if it fails to notify Seller and Escrow Agent in writing of its objections within the respective periods provided herein.agree that Buyers have c. After receipt of Buyer's objections, if any, Seller shall at its option, either (i) terminate this Agreement by sending satisfied themselves with all title matters, including those items reflected on the Preliminary Reports and the Existing Surveys and (ii) procured pro forma policies (with endorsements) from the Title Company (and have delivered copies of the same to Sellers). In the event the Title Company delivers written notice to Buyer and Escrow Agent (subject to Buyer's right to cancel said termination provided for below) if it cannot Buyers after the Effective Date of any new title issue in connection with a Preliminary Report or is unwilling to cure the objections or (ii) attempt to eliminate the matters to which Buyer has objected within fifteen (15any update thereto, Buyers shall have ( ) days after receipt of Buyer's objections. Notwithstanding such notice (but not later than the foregoingClosing Date and in any event prior to Closing) to disapprove such new title exception, Seller shall not be required to satisfy any pecuniary encumbrances until Closing. If Seller elects to terminate this Agreement as provided above by sending written notice to Buyerin Buyers’ sole and absolute discretion, this Agreement and the Escrow shall automatically terminate on the date ten (10) days after Buyer and Escrow Agent receive written notice of such termination, unless Buyer elects to cancel such termination and waive its objections to said matters by written notice to Seller and Escrow Agent delivered within the ten Sellers (10) day perioda “New Defect Objection Notice”). Seller agrees If Buyers fail to use reasonable efforts deliver a New Defect Objection Notice to give notice Sellers in a timely manner, then such items shall be deemed approved by Buyers. If Buyers timely deliver a New Defect Objection Notice to Buyer as to its election of the above options in favor of Seller; providedSellers, however, if, within fifteen (15then Sellers shall have ( ) days after receipt of such New Defect Objection Notice to advise Buyers in writing of any such exceptions described in the New Defect Objection Notice that Sellers agree to remove at or prior to the Close of Escrow, provided that if Sellers propose to remove or cure a matter by Seller means of Buyer's objections, Seller has not either (i) sent written notice terminating as provided above or (ii) sent written notice agreeing the issuance of an endorsement to cure said objections or caused the matters to which Buyer has objected to be eliminatedBuyers’ Title Policy, then in Buyers shall have the right to approve such event Seller method of cure and applicable endorsement, which approval shall not be unreasonably withheld. Sellers’ failure to deliver a written response to Buyers’ New Defect Objection Notice shall be deemed to have sent notice be Sellers’ determination not to Buyer terminating this Agreement, with such deemed notice to be deemed to have been sent and received upon remove or cure any of Buyers’ title objections set forth in the expiration of said fifteen (15) day period, and in such event this Agreement and Escrow shall terminate unless Buyer waives its objections by written notice delivered to Seller and Escrow Agent on or before two (2) days after the expiration of said fifteen (15) day periodparticular New Defect Objection Notice. In the event of any termination pursuant to this paragraph, the Xxxxxxx Money Deposit delivered to Escrow Agent shall be promptly refunded or returned to Buyer, Buyer shall deliver copies of any nonproprietary studies, reports or tests pertaining to the Property, and Seller and Buyer shall have no further obligation or liability to one another regarding the sale or purchase of the Property, except as to the specific indemnification provisions otherwise provided for in this Agreement.Within