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Commitment either to have Purchaser's attorney examine the title and provide Seller with written <br />objections or, at Purchaser's own expense other than as set forth in paragraph 7, to make an <br />application for a Title Insurance Policy and notify Seller of the application. Purchaser shall have five <br />(5) business days after receipt of the Commitment for Title Insurance to provide Seller with a copy <br />of the Commitment and written objections. <br />14. Title Corrections and Remedies. Seller shall have 120 days from receipt of <br />Purchaser'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 make <br />title marketable within the 120 day period. Liens or encumbrances for liquidated amounts which can <br />be released by payment or escrow from proceeds of closing shall not delay the closing. Cure of the <br />defects by Seller shall be reasonable, diligent, and prompt. Pending correction of title, all payments <br />required herein and the closing shall be postponed. <br />If notice is given and Seller makes title marketable, then upon presentation to Purchaser and <br />proposed lender of documentation establishing that title has bene made marketable, and if not <br />objected to in the same time and manner as the original title objections, the closing shall take place <br />within ten (10) business days or on the scheduled closing date, whichever is later. • <br />If Seller does not give notice of intention to make title marketable, or if notice is given, but <br />the 120 day period expires without title being made marketable, Purchaser may seek, as permitted <br />by law, one or more of the following: <br />a. Rescission ofthis Purchase Agreement by notice as provided herein, in which case the <br />Purchase Agreement shall be void and all earnest money paid hereunder shall be <br />refunded to Purchaser. <br />b. Specific performance within six (6) months after such right of action arises. <br />If title is marketable, or is made marketable as provided herein, and Seller defaults in any of <br />the agreements herein, Purchaser may, as permitted by law: <br />a. Seek damages from Seller including costs and reasonable attorney's fees, and/or <br />b. Seek specific performance within six (6) months after such right of action arises. <br />15. Contingencies and Conditions Precedent. This Agreement shall be subject to the <br />following contingencies or conditions precedent: <br />a. Document Delivery and Review Contingency. Within fifteen (15) days after full <br />execution ofthis Purchase Agreement, Seller shall provide to Purchaserthe following <br />documents and information: <br />ft:K74 KOB04395x147,27,00) <br />5 <br />Page 34 <br />