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1.6 Title Insurance. <br /> (a) City's Policy. On each Transfer Date, CSR-Associated shall cause Pacific <br /> Northwest Title Insurance Company("Title Company") to issue to City at CSR-Associated's <br /> expense, an ALTA Extended Coverage Owner's Policy of Title Insurance (1970 Form B with <br /> 1984 amendments) ("Owner's Title Policy"), insuring good and marketable fee simple title in <br /> City to Lot 45-A and Lot 45-B, as applicable, against any loss or damage by reason of defect in <br /> CSR-Associated's title to such Transfer Lot, other than the Permitted Exceptions determined in <br /> accordance with this Section. <br /> (b) Title and Survey Review. CSR-Associated shall cause Title Company to <br /> provide City with a preliminary commitment for the Owner's Title Policy dated on or after the <br /> Effective Date ("Title Commitment"), together with complete copies of any exceptions identified <br /> in Schedule B thereof. CSR-Associated at its expense shall deliver to City and the Title <br /> Company a current ALTA survey of Lots 45-A, 45-B, and 45-C prepared by a licensed land <br /> surveyor ("Survey"). City shall conduct its review of the Title Commitment and Survey in <br /> accordance with the following procedures: <br /> (c) City's Notice. Within twenty(20) days after City's receipt of the Title <br /> Commitment and Survey, City shall notify CSR-Associated of its approval or disapproval of <br /> each exception in the Title Commitment and/or matters revealed by the Survey. Failure to <br /> deliver such notice shall constitute City's approval of all exceptions in the Title Commitment and <br /> the Survey. Exceptions or Survey matters not disapproved by City shall be Permitted <br /> Exceptions. <br /> S:\GDoughty\W IN WORD\CSR\AgreementFinal.doc 11 <br /> Seattle/2.8.00 <br />