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Underwriters or mortgagee; or (iii) any planned, pending or contemplated condemnation, eminent domain, or similar action or proceeding with respect to the Property or any part thereof. 4.6. There have been no bankruptcy or dissolution proceedings involving Seller during the time Seller has had any interest in the Land; there are no unsatisfied judgments or state or federal tax liens of record against Seller; there are no unrecorded mortgages, contracts for deed, purchase agreements, options, leases, easements, or other agreements or interests relating to any of the Property; and there are no persons in possession of any portion of the Property other than Seller. 4.7. Seller is not in default in the performance of any obligations under any easement agreement, covenant, condition,restriction, or other instrument relating to the Property. 4.8. Seller warrants that buildings, if any, are entirely within the boundary lines of the Property. Seller warrants that there is a right of access to the real Property from a public right- of-way. Seller warrants that there has been no labor or material furnished to the Property for which payment has not been made. Seller warrants that there are no present violations of any restrictions relating to the use or improvement of the Property. Seller hereby agrees that each of the foregoing representations and warranties shall survive closing hereunder and that the breach of any thereof shall constitute a default, whether said breach occurs prior to or after Closing, entitling the Buyer to exercise any remedy provided to the Buyer in this Option Agreement in the event of a default by Seller. Section 5. Default. If Seller defaults in its obligation to close and deliver the deed in accordance with the provisions of this Option Agreement, the Buyer may, by notice upon Seller, (i) terminate this Option Agreement, in which event Seller shall reimburse the Buyer for all costs and expenses incurred by the Buyer in connection with this transaction up to and including the date of default, or (ii) avail itself of any other remedy for said default which it may have at law, in equity or by statute, including, but not limited to, an action for damages; or iii) seek specific performance, and the reimbursement of costs and expenses. If the Buyer shall have exercised the option granted hereunder and if the Buyer shall default in the performance of any of its obligations hereunder, then Seller may avail itself of any remedy for said default which it may have at law, in equity or by statute, including, but not limited to, an action for damages and/or specific performance. Section 6. Contingencies. 6.1. Buyer's obligation to buy is contingent upon the following: (A): Buyer's determination of marketable title pursuant to Section 1.9. of this Option Agreement; and (B): Buyer's determination, in its sole discretion, that the results of the environmental investigation under Section 8 of this Option Agreement are satisfactory to Buyer. 5 DOC SOPEN\MU210\329\1036056.v2-7/9/25