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r , <br /> Owner subject only to the exceptions set forth in the attached • <br /> Exhibit B (the "Permitted Encumbrances") , and shall provide for <br /> such endorsements as the HRA may require. The HRA has provided <br /> a copy of the Commitment to Owner, and any exceptions to title - <br /> shown in the Commitment other than the Permitted Encumbrances <br /> are deemed objections to title. Owner shall be allowed until <br /> the Date of Closing to cure such objections. Pending <br /> correction of title, the payments hereunder required shall be <br /> postponed, but upon correction of title and within 10 days of <br /> written notice, the parties shall perform this Agreement <br /> according to its terms . <br /> If the Commitment is not acceptable and is not so made <br /> within 60 days from the date originally specified in paragraph <br /> 4 hereof as the Date of Closing, the HRA shall have the option <br /> of : <br /> (a) declaring this Agreement null and void; or <br /> (b) waiving any defect in title, and, in such event, <br /> proceeding to close the transaction contemplated by <br /> this Agreement. <br /> On the Date of Closing, each party shall deliver to <br /> Title those documents required of it and necessary to allow <br /> Title to issue to the HRA, or to its grantee, an Owner' s Policy <br /> of Title Insurance in accordance with the Commitment as • <br /> modified. The HRA, or its grantee, shall pay the premium for <br /> issuing the title insurance policy. <br /> 4 . Closing. For purpose of this agreement, the term <br /> Date of Closing shall be December 15, 1988, unless the closing <br /> is postponed for correction of objections to title, as herein <br /> provided. The place of closing shall be at the offices of <br /> Dorsey & Whitney, 2200 First Bank Place East, Minneapolis, <br /> Minnesota. If the HRA has kept and performed its obligations <br /> to be kept and performed hereunder, Owner shall, on the Date of <br /> Closing, execute and deliver to HRA the following: <br /> (a) A Warranty Deed in recordable form, conveying all <br /> of the Property to the HRA free and clear of all <br /> liens, charges and encumbrances, except as <br /> provided herein, together with payment for the <br /> State deed tax due thereon. <br /> (b) An affidavit indicating that on the Date of <br /> Closing there are no outstanding, unsatisfied <br /> judgments, tax liens, or bankruptcies against or <br /> involving Owner, that there has been no skill, <br /> labor, or materials furnished to the Property for <br /> -2- <br />