AG 2008 08 18 - Laserfiche WebLink

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at the locations shown on the Survey, and (iii) such other endorsements as Buyer may reasonably require (collectively the "Endorsements"). Seller agrees to provide to Buyer a copy of Seller's current owner's title insurance policy and a copy of any survey Seller has of the Properly within three (3) days after the effective date of this Agreement. Buyer's decision as to whether satisfactory title insurance can be obtained shall be final and shall not be subject to question by Seller. Seller shall cooperate fully with Buyer in helping Buyer to eliminate such exceptions from'the Commitment as Buyer may desire eliminated, and further, Seller shall cooperate fully with Buyer so that all requirements of Closing outlined in the Commitment are accomplished in all respects. C. Review of Survey and Commitment. Buyer shall have until the expiration of the Inspection Period in which to review the Commitment, Survey and all documents referred to therein and to deliver to Seller in writing such objections as Buyer may have to the Commitment, Survey, or the other documents referred to therein. Any matters in the Commitment, or the documents referred to therein that Buyer does not object to within such period shall be deemed approved by Buyer and shall constitute "Permitted Exceptions". If Buyer does timely object to the Commitment, or the documents referred to therein, then Seller shall have the right, but not the obligation, for a period of fifteen (15) days (the "Cure Period") following the receipt by Seller of Buyer's objections to attempt to cure such objections. If an objection is of such a nature that the Cure Period is not a reasonably adequate time to perfect a cure, but Seller commences to cure during the Cure Period and Seller diligently pursues such cure to completion, the Cure Period will be extended to the extent reasonably necessary to complete such cure, not to exceed thirty (30) days.. If Seller fails or refuses to cure such objections within such Cure Period, then Buyer may either (i) undertake to cure such objections, crediting the cost of curing such objections against the Purchase Price; (ii) waive such objections and proceed to close; or (iii) terminate this Agreement, whereupon, in the latter event, the Deposit shall be refunded to Buyer by the Title Company and the parties hereto shall have no further rights or obligations hereunder except as may specifically survive under the express terms hereof. Buyer's election to cure or waive such objections or terninate this Agreement must be exercised within fifteen (15) business days following the expiration of the Cure Period, and Buyer's failure to exercise such election within the said fifteen (15) business day period shall be deemed a waiver of such objections by Buyer, in which event all such objections shall additionally be deemed to be additional Permitted Exceptions. D. Extension of Commitment. Tf the Commitment is due to expire prior to the Closing Date, Buyer must be able to obtain an updated Commitment with an effective date through the Closing Date, which updated Commitment shall be identical to the previously issued Commitment reflecting the Permitted Exceptions. If any additional matters appear in the updated Commitment that were not contained in the original Commitment (collectively "Additional Exceptions"), such Additional Exceptions shall automatically be deemed to be unacceptable to Buyer and shall not constitute Permitted Exceptions. The Additional Exceptions shall be deemed to have been objected to by Buyer as if such objections had been made during the above referenced period for Buyer's objections, unless Buyer expressly accepts in writing such additional matters E. New Title Objections. Buyer reserves the right to terminate this Agreement and receive the return of the Deposit, at any time between expiration of the Inspection Period and Closing ("Intervening Period") if during such Intervening Period there shall occur any change in the condition of the title to the Property which, in Buyer's sole judgment, materially adversely affects the Properly or Buyer's intended development and/or prospective use thereof. 7. DELAY IN OBTAINING PERMITS OR APPROVALS. Buyer shall promptly commence efforts to obtain any and all governmental or quasi-governmental permits and approvals necessary for the Property at its own expense, including, if necessary, subdivision approval. Seller shall WCSR 3614883v5 ~ r'~