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of the Buyer. The Buyer shall take possession of the Property on the day of execution and <br /> delivery of the deed therefor. <br /> 1.6. Assignment of Option. Buyer shall have the right, at its sole discretion, to assign <br /> this option to a third party for no additional consideration. <br /> 1.7. Preliminary Development. After execution of this Option Agreement, Buyer shall <br /> have the right to enter upon the Property for the purpose of taking soil tests and borings, making <br /> surveys and maps and performing investigative work, including environmental testing and <br /> assessment, as Buyer may deem necessary; provided, however, Buyer shall indemnify and hold <br /> Seller harmless from any mechanic's liens or claims arising out of such preliminary development <br /> work by Buyer. Buyer may assign this right to a third party or parties at its sole discretion. <br /> 1.8. Development of Property. Seller shall, both before and after the date of closing, <br /> but without expense to Seller, cooperate and join with Buyer in any and all actions, petitions and <br /> documents which are usual and necessary to accomplish the development of the Property <br /> consistent with Buyer's purposes and to plat the same for such purposes, all at the sole expense <br /> of the Buyer. <br /> 1.9. Examination of Title. Within 20 days after the date on which the Buyer exercises <br /> the Option, Seller shall deliver to the Buyer existing abstracts for the Property. Buyer shall <br /> obtain any desired title work from a title company acceptable to the Buyer. The Buyer shall have <br /> thirty (30) days from the date of its receipt of the such updated abstract or title work to review <br /> the state of title to the Property and to provide Seller with a list of written objections to such title. <br /> Upon receipt of the Buyer's list of written objections, Seller shall proceed in good faith and with <br /> all due diligence to attempt to cure the objections made by the Buyer. In the event that the Seller <br /> has failed to cure objections within twenty (20) days after its receipt of the Buyer's list of such <br /> objections, the Buyer may (i) by the giving of written notice to Seller terminate this Option <br /> Agreement and this Option Agreement shall be null and void and neither party shall have any <br /> liability hereunder, or (ii) waive such objection and proceed pursuant to this Agreement. The <br /> Buyer shall have the right, but not the obligation, to purchase title insurance at the Buyer's sole <br /> cost. Seller will take no actions nor permit any liens to encumber title to the Property between <br /> the date on which the Buyer exercises the Option and the date on which the Property is delivered <br /> to the Buyer. <br /> Notwithstanding any other provision of this Option Agreement, Seller shall at all times be <br /> responsible to pay special assessments, if any, while the Seller is in possession of the Property. <br /> Section 2. Documents. The following documents shall be in approved form, be <br /> executed by the Seller either before or at Closing and be delivered by Seller at Closing: <br /> 2.1. Warranty Deed. Warranty Deed for good, marketable, insurable, and indefeasible <br /> title, duly executed in recordable form from Seller to the Buyer conveying the Property, subject only <br /> to the following Permitted Exceptions: <br /> 1) building and zoning laws, ordinances, state and federal regulations; <br /> 2 <br /> DOC SOPEN\MU210\329\1036056.v2-7/9/25 <br />