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D. If title is marketable, or is made marketable as provided herein, and Buyer <br /> • defaults in any of the agreements herein, Seller may, as its sole remedy, <br /> cancel this contract as provided by statute and retain all payments made <br /> hereunder as liquidated damages. <br /> E. If title is marketable, or is made marketable as provided herein, and Seller <br /> defaults in any of the agreements herein, Buyers may, as permitted by law: <br /> 1. Seek damages from Seller including costs and reasonable attorney's <br /> fees; <br /> 2. Seek specific performance within six months after such right of action <br /> arises. <br /> 9. TIME IS OF THE ESSENCE FOR ALL PROVISIONS OF THIS CONTRACT. <br /> 10. CONTINGENCIES. This Agreement and Buyer's obligations hereunder are <br /> contingent upon Buyer receiving all necessary approvals for the purchase of the Property <br /> following all required administrative notices and hearings. If any required approval is not <br /> received by Buyer, this Agreement shall be null and void, neither party shall have any <br /> further liability hereunder and all earnest money shall be returned to Buyer. <br /> 11. SELLER'S WARRANTIEES AND REPRESENTATIONS. Seller warrants that(i) <br /> there is a right of access,to the real property from a public right of way, (ii) there has <br /> • been no labor or material furnished to the property for which payment has not been <br /> made, (iii) there are no present violations of any restrictions relating to the use or <br /> improvement of the property, and (iv) Seller knows of no hazardous substances or <br /> petroleum products having been placed, stored, or released from or on the property by <br /> any person in violation of any law, nor of any underground storage tanks having been <br /> located on the property at any time, except as follows: <br /> These warranties shall survive the delivery of the deed. Seller shall remove all debris <br /> and all personal property not included in this sale from the property before possession <br /> date. Buyer shall have the right to have inspections of the property conducted prior to <br /> closing. <br /> 12. COSTS. Seller will pay all costs of updating the Abstract of Title, issuing a <br /> Registered Property Abstract or issuing a Commitment for an Owner's Title Insurance <br /> Policy. Buyer will pay all premiums required for the issuance of any Title Policy. Seller <br /> and Buyer will each pay one-half of any closing fee or charge imposed by any closing agent <br /> or by the title company. Seller shall pay all State Deed Tax payable in connection with this <br /> transaction. <br /> -3- <br />