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07/11/2007 17:40 FAX 952 896 3250 LARKIN HOFFMAN DALY R008/018 <br />may be identified by Buyer, in the amount of the <br />Purchase Price, <br />(2) Environmental Reports. Seller shall provide Buyer <br />copies of the Environmental Reports as defined <br />hereafter, <br />(b) Buyer's Objections, Within ten (10) days after <br />receiving the last of the Title Evidence, Buyer will <br />make written objections ( "Objections ") to the <br />marketability of title to the Property. Buyer's <br />failure to make Objections within such time period will <br />constitute a waiver of Objections. Any matter shown on <br />such Title Evidence and not objected to by Buyer shall <br />be a "Permitted Encumbrance" hereunder. Seller will <br />have thirty (30) days after receipt of the objection, <br />to attempt to cure the Objections, during which period <br />the Closing Date will be postponed as necessary. <br />Seller shall use reasonable efforts to correct any <br />objections. If the Objections are not cured within <br />ouch 30 -day period, Buyer will have the option to do <br />any of the following: <br />(1) Terminate this Agreement. <br />(2) Waive the objections and proceed to close. <br />7. Operat inn Prior to Closing. During the period from the <br />date of Seller's acceptance of this Agreement to the Closing Date <br />(the "Executory Period "), Seller shall operate and maintain the <br />Property in, the ordinary course of business in accordance with <br />prudent, reasonable business standards, including the maintenance <br />of adequate property and liability insurance. If, prior to the <br />Closing Date, all or any party to the Property is substantially <br />damaged by fire, casualty, unforeseen elements or any other <br />cause, Seller shall immediately provide Buyer written notice of <br />such damage and Buyer and Seller shall share equally in any <br />insurance proceeds for such damage, unless the damage is <br />intentionally caused by Seller in which case Buyer. ,hall receive <br />all insurance proceeds. Seller shall execute no contracts, <br />leases or other agreements regarding the Property during the <br />Executory Period that are not terminable on or before the Closing <br />Date, without the written consent of Buyer, which consent may be <br />withheld by Buyer at its sole discretion. <br />8. Representations and Warranties by Seller. Seller <br />represents and warrants to Buyer as follows: <br />7 <br />8 <br />