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7 <br />10.1.1 Title Insurance Commitment. A commitment ("Title Commitment") for an <br />ALTA Form B 1970 Owner's Police of Title Insurance insuring title to the Real Property, <br />deleting standard exceptions and including affirmative insurance regarding zoning, <br />contiguity, appurtenant easements and such other matters as may be identified by Buyer, <br />in the amount of the Purchase Price, issued by Ancona Title, Inc., as agent for Stewart <br />Title Guaranty Company, the title Commitment will commit Title to insure title to the <br />Property subject only to Permitted Encumbrances. <br /> <br />10.1.2 Survey. Seller shall provide a copy of any survey the have under <br />taken since their acquisition of the Property. Any additional survey required by <br />Buyer to satisfy Buyer’s needs shall be the responsibility of Buyer. <br /> <br /> 10.1.3 UCC Searches. A report of UCC Searches made of the Uniform Commercial <br /> Code records of the Secretary of State of Minnesota, made by either said Secretary of <br />State or by a search firm acceptable to Buyer, showing no UCC filings regarding any of <br />the Property. <br /> <br /> 10.1.4 Encumbrances. A copy of every document referenced as an exception to the <br />title of the Real Property (including without limitation the Permitted Encumbrances) as <br />described in the title Commitment. <br /> <br />10.2 Buyer's Objections. Prior to the Contingency Date, but in no event more <br />than twenty (20) days after receiving the last of the title Evidence, Buyer shall make <br />written objections ("Objections") to the form and/or contents of the title Evidence. Buyer's <br />failure to make Objections within such time period will constitute a waiver of Objections. <br />Any matter shown on the Title Evidence and not objected to by Buyer shall be a <br />"Permitted Encumbrance" pursuant to this Agreement. Seller will have 90 days after <br />receipt of the Objections to cure the Objections, during which period the Closing will be <br />postponed as necessary and buyer shall not be obligated to pay the $25,000 as <br />indicated in Section 6. Seller shall use its best efforts to correct any Objections. To the <br />extent an Objection can be satisfied by the payment of money, Buyer shall have the right <br />to apply a portion of the cash payable to Seller at the Closing to satisfaction of such <br />Objections and the amount so applied shall reduce the amount of cash payable to Seller <br />at the Closing. If the objections are not cured within such 60 day period, Buyer will have <br />the option to do any of the Following: <br /> <br />10.2.1 Termination. Terminate this Agreement and receive a refund of the Earnest <br />Money and the interest accrued and unpaid on the Earnest Money, if any. <br /> <br />10.2.2 Escrow for Cure. Withhold from the Purchase Price an amount which, in the <br />reasonable judgment of Title, is sufficient to assure cure of the Objections. Any amount <br />so withheld will be placed in escrow with Title, pending such cure. If Seller does not cure <br />such Objections within 90 days after such escrow is established, Buyer may then cure <br />such Objections and charge the costs of such cure (including reasonable attorney's fees) <br />against the escrowed amount. If such escrow is established, the parties