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a. Seller warrants that no hazardous substances or petroleum products have been placed, stored, <br />or released from or on the property by any person in violation of any law, nor of any <br />underground storage tanks having been located on the property at any time, except as <br />follows: <br />b. Seller's warranties and representations contained herein shall survive the closing and the <br />delivery of the Deed or Contract for Deed. <br />c. Buyer shall have the right to have inspections of the property conducted prior to closing. <br />Unless required by local ordinance or lending regulations. <br />d. Seller warrants that there are no leases or rental arrangements of any kind relating to the <br />premises at 594 County Road B2 with other parties or individuals as of the date of this <br />agreement. Seller further warrants that he will not enter in to any such arrangements for the <br />subject property from this date forward. <br />11. Disclosure of Notices. Seller has not received any notice from any governmental authority as to <br />violation of any law, ordinance or regulation affecting the property other than from the City of Little Canada as <br />evidenced in Exhibit A attached hereto, which Buyer acknowledges and accepts. If the property is subject to <br />restrictive covenants, Seller has not received any notice from any person as to a breach of the covenants. <br />12. Possession. Except by addendum, possession of the property shall be granted by Seller to Buyer on <br />the date of closing. <br />13. Examination of Title. Within a reasonable time after the acceptance of this Agreement, Seller shall <br />furnish Buyer with an Abstract of Title or a Registered Property Abstract certified to date including proper searches <br />covering bankruptcies and State and Federal judgments, liens, and levied and pending special assessments. Buyer <br />shall have twenty (20) business days after receipt of the Abstract of Title or Registered Property Abstract either to <br />examine the title and provide Seller with written objections or, at Buyer's own expense, to make an application for a <br />Title Insurance Policy and notify Seller of the application. Buyer shall have five (5) business days after receipt of <br />the Commitment for Title Insurance to provide Seller with a copy of the Commitment and written objections. <br />14. Title Corrections and Remedies. Seller shall have 45 days from receipt of Buyer's written title <br />objections to make title marketable. Upon receipt of Buyer's title objections, Seller shall, within ten (10) business <br />days, give written notice to Buyer of Seller's intentions to make title marketable within the 45 -day period. Liens or <br />encumbrances for liquidated amounts which can be released by payment or escrow from proceeds of closing shall <br />not delay the closing. Cure of the defects by Seller shall be reasonable, diligent, and prompt. Pending correction of <br />title, all payments required herein and the closing shall be postponed. <br />a. If notice is given and Seller makes title marketable, then upon presentation to Buyer and <br />proposed lender of documentation establishing that title has been made marketable, and if not <br />objected to in the same time and manner as the original title objections, the closing shall take <br />place within ten (10) business days or on the scheduled closing date, whichever is later. <br />-3- <br />5 <br />