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Authentisign ID:92CCDA7D-4AA5-F011-8E61-002248330C80 causing the Damage, whereupon the Title Company shall immediately return the Earnest Money to Buyer and, upon Buyer's receipt thereof, neither party hereto shall have any further rights against or obligations to the other under this Purchase Agreement, except those that expressly survive termination. If this Purchase Agreement is not terminated as provided in the preceding sentence, then there shall be no reduction in the purchase price, but Seller shall assign to Buyer, at the Closing, all rights of Seller to the insurance proceeds for Damage as set forth in subparagraph (c). (c) If the Damage is covered by insurance, Buyer shall have the right to elect to close the purchase of the Property in its condition (with respect to the Damage covered by insurance) on the Closing Date and to take an assignment of Seller's insurance proceeds related to Damage, in which event Seller shall assign such insurance proceeds to Buyer on the Closing Date, shall thereafter permit Buyer to conduct any remaining settlement or other negotiations with Seller's insurance carrier as to the amount of proceeds payable on account of the Damage and shall give Buyer a credit against the purchase price equal to the deductible amount, if any, under Seller's insurance policy. (d) For the purposes of this section, Damage shall be deemed to be "material" if the cost of repairing such Damage equals or exceeds $25,000. 16. Eminent Domain. In the event that all or any material portion of the Real Property is condemned prior to the Closing, Buyer will have the option to either(I) terminate the Purchase Agreement and receive back the Earnest Money, or (II) consummate the Purchase Agreement and receive any proceeds for the Property arising from said condemnation. Such option shall be exercised within 20 days after the date Buyer receives written notice of such condemnation. For the purposes of this section, "material" shall be a loss of value of the remaining Property that equals or exceeds $25,000. 17. Operation of Property Prior to Closing. Until the Closing Date, Seller shall have full responsibility for the continued operation of the Property. Prior to the Closing Date: (a) Seller shall not cause any new liens or encumbrances to be created against the Property which will not be released on or before the Closing Date, and shall not enter into any contracts or agreements with regard to the Property except for Service Contracts which may be cancelled on or before the Closing Date. (b) Seller shall continue to operate, repair and maintain the Property in substantially the same manner as it has prior to the date of this Purchase Agreement. (c) Seller shall not enter into any new leases without Buyer's written consent. 18. Closing Costs. Seller shall pay all costs for the issuance and preparation of the Title Commitment. Buyer shall pay the premium and any endorsement fees for issuance of any owner's or lender's title policy. Seller will pay all state deed tax in connection with the General 7