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9 <br /> Closing. If Seller does not elect to cure the Defects of which Buyer has timely given <br /> written notice in accordance with the provisions of this Section, Buyer will have seven <br /> (7) business days after (i)receipt of notice of Seller's unwillingness or inability to cure <br /> the Defects or (ii)expiration of the Curative Period, if Seller does not provide such <br /> notice and the defects are not cured within the Curative Period, to give written notice to <br /> Seller terminating this Agreement (in which event Buyer will receive a refund of all <br /> Earnest Money) or accepting title to the Property subject to such Defects (in which <br /> event there shall be no reduction in Purchase Price.) <br /> (c) If Buyer does not elect to terminate this Agreement within the <br /> Inspection Period (or within such longer period as may be provided in this Section), <br /> then any Defects that Seller does not cure or agree to cure shall be permitted to remain <br /> on title at Closing(the"Permitted Encumbrances"). <br /> (d) If required by Title Company for extended coverage, Buyer shall, <br /> at its own expense, contract with a licensed surveyor for a new ALTA survey of the <br /> Property ("New Survey"). Buyer shall have until the expiration of the Inspection <br /> Period to review and, in its sole discretion, approve the New Survey of the Property. If <br /> Buyer disapproves any matter shown in the Survey, Buyer may by written notice given <br /> to Seller prior to the expiration of the Inspection Period, terminate this Agreement and <br /> receive a refund of the Earnest Money unless Seller agrees to cure any such matter prior <br /> to Closing. <br /> 3.2 Title Insurance. Seller shall cause Title Company to deliver to Buyer at <br /> Closing an extended coverage owner's policy of title insurance issued by Title <br /> Company, insuring Buyer's title to the Property (the "Title Policy"). Buyer shall <br /> consult directly with Title Company regarding any special endorsements Buyer may <br /> require, at Buyer's sole cost and expense,to be included in the Title Policy. Seller shall <br /> pay the premium for standard coverage under the Title Policy. Buyer shall pay all costs <br /> in excess of the amount of the standard coverage premium for the Title Policy, <br /> including, without limitation, the cost of all endorsements requested by Buyer, the cost <br /> of the premium increase for extended coverage, and the cost of the New Survey. Prior <br /> to or at Closing, Seller shall, if requested by the Title Company, execute and deliver to <br /> the Title Company a commercially reasonable form owner's affidavit sufficient to allow <br /> Title Company to remove the standard preprinted exceptions for parties in possession <br /> and any mechanic's or materialmen's liens. <br /> 3.3 Conveyance of Property. At Closing, Seller shall convey to Buyer fee <br /> simple title to the Property by execution and delivery of a special warranty deed to the <br /> Property in the form of Exhibit B hereto (the"Deed"). <br /> 3 <br /> 96 <br />