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provide a Commitment for an ALTA Owner's Policy of Title Insurance insuring title to the Real <br />Property, deleting standard exceptions and including affirmative insurance regarding zoning, <br />appurtenant easements, and such other matters as may be identified by Buyer, in the amount of <br />the Purchase Price. <br />14. Title Corrections and Remedies. Seller shall have forty -five (45) days from receipt of <br />Buyer's written title objections to make title marketable. Upon receipt of Purchaser's title <br />objections, Seller shall, within ten (10) business days, notify Purchaser of Seller's intention to <br />make title marketable within the forty -five (45) day period. Liens or encumbrances for <br />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. <br />Pending correction of title, all payments required herein and the closing shall be postponed. <br />If notice is given and Seller makes title marketable, then upon presentation to Purchaser <br />and proposed lender of documentation establishing that title has been made marketable, and if <br />not 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 />If notice is given and Seller proceeds in good faith to make title marketable, but the forty - <br />five (45) day period expires without title being made marketable, Purchaser may declare this <br />Agreement void by notice to Seller, neither party shall be liable for damages hereunder to the <br />other, and earnest money shall be refunded to Purchaser. <br />If Seller does not give notice of intention to make title marketable, or if notice is given, <br />but the forty -five (45) day period expires without title being made marketable due to Seller's <br />failure to proceed in good faith, Purchaser may seek, as permitted by law, one or more of the <br />following: <br />a. Proceed to closing without waiver or merger in the deed of the objections to title <br />and without waiver of any remedies, and may: <br />(1) Seek damages, costs, and reasonable attorneys' fees from Seller as permitted <br />by law (damages under this subparagraph shall be limited to the costs of <br />curing objections to title, and consequential damages are excluded); or <br />(2) Undertake proceedings to correct the objections to title. <br />b. Rescission of this Purchase Agreement by notice as provided herein, in which <br />case the Purchase Agreement shall be void and all earnest money paid hereunder <br />shall be refunded to Buyer. <br />c. Damages from Seller together with costs and reasonable attorneys' fees, as <br />permitted by law. <br />Page 6 of 10 <br />11:\Joe1I-IACorrespondenceVoel 2C01VCounty Road 13 Purchase Agreement - Goad le Howe - 11.19.04.doc <br />