Laserfiche WebLink
and encumbrances and subject only to those exceptions that Buyer approves pursuant <br /> to Section 6 below ("Permitted Exceptions"). <br /> 5.2 Tax Certification. An affidavit in the form of the attached Exhibit <br /> D in order to meet the Foreign Investment in Real Property Tax Act requirements of <br /> I.R.C. § 1445. <br /> 5.3 Other. Any other documents or instruments reasonably required <br /> to effectuate the closing hereunder including, by way of example but not limitation, <br /> closing statements, releases and delivery of instruments required by the Title Company <br /> or Closing Agent. <br /> 6. Title. As soon as reasonably possible after the date of this Agreement, Buyer <br /> will obtain a preliminary commitment for title insurance issued by Rainier Title Insurance <br /> Company ("Title Company") together with a copy of all instruments listed as exceptions <br /> in the commitment. The Buyer shall pay all expenses related to obtaining a title <br /> insurance policy for the Property. If a new survey is required to enable the Title <br /> Company to issue an extended coverage policy, the Buyer, may choose to obtain an <br /> extended coverage policy, and obtain such survey at its expense. <br /> Buyer shall notify Seller, by written notice, what exceptions to title, if any, are <br /> disapproved by Buyer ("Disapproved Exceptions") within fifteen (15) days after receipt <br /> of the commitment or supplement, as applicable. Seller will have five (5) days after <br /> receipt of Buyer's notice to give Buyer notice that Seller will remove Disapproved <br /> Exceptions or Seller elects not to remove Disapproved Exceptions. If Seller fails to give <br /> Buyer notice before the expiration of the five (5) day period, Seller will be deemed to <br /> have elected to remove any Disapproved Exceptions. <br /> Buyer shall not be required to object to and Seller hereby agrees to remove any <br /> exceptions to title arising out of financial or monetary encumbrances such as liens, <br /> judgments, mortgages and past due taxes and assessments. <br /> Seller shall remove from title on or before the closing Date all monetary <br /> encumbrances other than those approved by Buyer. <br /> If Seller elects not to remove any nonmonetary Disapproved Exceptions, Buyer <br /> may elect to either proceed with the purchase of the Property subject to those <br /> exceptions or to terminate this Agreement. If Seller gives notice that it will cause one or <br /> more nonmonetary exceptions to be removed but fails to remove them from title on or <br /> before the Closing Date, or fails to remove from title any monetary encumbrance on or <br /> before the Closing Date, Buyer will have the right to either elect to terminate this <br /> Agreement or proceed with the purchase, with an abatement of the Purchase Price <br /> equal to the actual cost of removing from title those exceptions not approved by Buyer <br /> and to take the Property subject to these exceptions. <br /> If Buyer elects to terminate this Agreement under this subsection, the escrow will <br /> be terminated, the Deposit shall be returned immediately to Buyer, all documents and <br /> other funds will be returned to the party who deposited them, and (if this Agreement or a <br /> {Client Files\14653\S574091.DOC} 12 <br />