Laserfiche WebLink
7 <br /> the Closing Date, or fails to remove from title any monetary encumbrance on or before <br /> the Closing Date, Buyer will have the right to either elect to terminate this Agreement or <br /> proceed with the purchase, with an abatement of the Purchase Price equal to the actual <br /> cost of removing from title those exceptions not approved by Buyer and to take the <br /> Property subject to these exceptions. If Buyer elects to terminate this Agreement under <br /> this subsection, the escrow will be terminated, the Deposit shall be returned <br /> immediately to Buyer, all documents and other funds will be returned to the party who <br /> deposited them, and (if this Agreement or a memorandum hereof was recorded) a <br /> notice of termination shall be recorded, after which all rights and obligations of Seller <br /> and Buyer under this Agreement shall terminate and be of no further force or effect. <br /> 5.4 Surveys. Seller shall. provide to Buyer and Title Company any <br /> survey of the Property in Seller's possession or control. If the Buyer chooses to obtain <br /> an extended coverage policy and a new survey is required, the Buyer may obtain such <br /> survey at its expense. <br /> 5.5 Title Policy. Seller shall cause Title Company at Seller's expense <br /> to issue to Buyer at closing a standard owner's policy of title insurance insuring Buyer's <br /> title to the Real Property in the full amount of the Purchase Price, subject only to the <br /> Permitted Exceptions (the "Title Policy"). The Title Policy must be dated as of the <br /> closing date. If Buyer requires an extended coverage title insurance policy, then the <br /> term "Title Policy" in this Agreement shall refer to such extended policy and Buyer will <br /> pay the additional premium for an extended policy as set forth in Section 7.5 below. <br /> 6. Buyer's Contingencies. <br /> 6.1 Feasibility Materials. Within ten (10) business days after the <br /> Effective Date, Seller shall deliver to Buyer or make available for inspection the <br /> following documents to the extent in Seller's possession or control (the "Feasibility <br /> Materials"): <br /> a) all reports of hazardous materials investigations, soils reports, <br /> or environmental assessment reports with respect to the Real <br /> Property; <br /> b) all existing and proposed easements, covenants, restrictions <br /> affecting the Real Property; <br /> c) all surveys relating to the Real Property; <br /> d) all leases relating to the Property; <br /> e) all notices regarding any existing or threatened litigation <br /> affecting the Property; <br /> f) all building permits or other government permits or approvals <br /> obtained or held by Seller and relating to the construction or <br /> remodeling of the Property. <br /> 6.2 Feasibility Study Period. On or before 'one hundred twenty (120) <br /> calendar days after the Effective Date (the "Feasibility Study Period") Buyer shall <br /> 3 <br /> 66 <br />