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If any objection to marketability of title is made, Seller shall be allowed one hundred twenty <br />(120) days to make such title marketable. Pending correction of title, the closing and <br />payments required hereunder shall be postponed. Upon correction of title and within ten <br />days after written notice to Purchaser, the parties shall perform this Agreement according to <br />its terms. <br />If said title is not marketable and is not made marketable within one hundred twenty (120) <br />days from the date of written objection thereto as above provided, this Agreement shall be <br />null and void at option of the Purchaser and neither Seller nor Purchaser shall be liable for <br />damages hereunder. The sole obligation of Seller in such event shall be to refund to <br />Purchaser all monies theretofore paid by Purchaser. Purchaser may, however, accept such <br />title as Seller may be able to convey without reduction of the purchase price or any other <br />credit or allowance against the same and without any other liability on the part of the Seller. <br />Acceptance of an instrument of conveyance by Purchaser shall be deemed to be full <br />performance and discharge of every covenant and agreement on the part of the Seller <br />performed under this Agreement with the exception of such warranties and covenants as are <br />specifically hereinabove identified as surviving the closing. <br />15. Remedies. If the title to the Property is to be found marketable or be made marketable <br />within the time limited and Purchaser shall default in any of the agreements contained herein <br />and continue in default for a period of ten (10) days, Seller may terminate this contract and, <br />upon such termination, all payments made by Purchaser under this Agreement shall be <br />retained by Seller as liquidated damages, time being of the essence hereof. <br />Nothing herein shall deprive either Seller or Purchaser of the right of enforcing this <br />Agreement by specific performance provided such actions shall be commended within six (6) <br />months after such right of action shall arise and provided this Agreement shall not be <br />previously terminated as aforesaid. <br />16. 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 five (5) days after full execution <br />of this Purchase Agreement, Seller shall provide to Purchaser the following documents <br />and information: <br />(1) Copies of building plans and specifications and a survey of the Property showing <br />present improvements to the extent that the same are in the Seller's possession or <br />available to Seller. <br />(2) Copies of any warranties or guarantees relating to the Property or any fixtures or <br />personal Property located thereon. <br />Page 6 of 11 <br />Page 39 <br />