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15. Examination of Title. Within a reasonable time after the acceptance of this <br />Agreement, and in no event later than five (5) days after execution of this Agreement, Seller shall <br />furnish Purchaser with an Abstract of Title or a Registered Property Abstract certified to date <br />including proper searches covering bankruptcies and State and Federal judgments, liens, and <br />levied and pending special assessments. Purchaser shall have fifteen (15) business days after <br />receipt of the Abstract of Title or Registered Property Abstract either to have Purchaser's <br />attorney examine the title and provide Seller with written objections or, at Purchaser's own <br />expense other than as set forth in paragraph 9, to make an application for a Title Insurance Policy <br />and notify Seller of the application. Purchaser 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 <br />written objections. <br />16. Title Corrections and Remedies. Seller shall have 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 45 -day period. Liens or encumbrances for liquidated amounts <br />which can be released by payment or escrow from proceeds of closing shall not delay the closing. <br />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 />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 120 <br />day period expires without title being made marketable, Purchaser may declare this Agreement <br />void by notice to Seller, neither party shall be liable for damages hereunder to the other. and <br />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 120 day period expires without title being made marketable due to Seller's failure to <br />proceed in good faith, Purchaser may seek, as permitted by law, one or more of the following: <br />a. Proceed to closing without waiver or merger in the deed of the objections to <br />title and without waiver of any remedies, and may: <br />(1) Seek damages, costs, and reasonable attorneys' fees from Seller as <br />permitted by law (damages under this subparagraph (1) shall be limited to <br />the costs of curing objections to title, and consequential damages are <br />excluded); or <br />(2) Undertake proceedings to correct the objections to title. <br />Page 63 <br />