No. 2584 approving the execution of a purchase agreement for the transfer of real property from the SBRC to the SB Public Transportation Corp.

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• A. The commitment for issuance of a policy of title insurance meeting the requirements of Paragraph 8 of this Agreement. B. Seller shall not be in default under any of the terms and conditions contained in this Contract. 8, Title Insurance Policy. Seller shall deliver to Purchaser no later than thirty (30) days after execution of this Agreement, a commitment issued by Meridian Title Corporation (the "Title Company ") for the issuance of a policy of title insurance written on an ALTA form agreeing to insure marketable title in the Property in Purchaser or its assigns in the amount of the purchase price subject only to the general exceptions in the title insurance policy and those items listed in Paragraph 4(a) (i) of this Agreement ( "Permitted Exceptions"). All title insurance company premiums and charges _shall be paid by Seller, with the exception of charges for any extended coverage which shall be paid by Purchaser. In the event the commitment contains exceptions other than the Permitted Exceptions, Seller shall have thirty (30) days after the date of receipt of Purchaser's written notice identifying such exceptions to remove those exceptions or obtain Purchaser's consent to them. In the event such exception(s), (other than Permitted Exceptions), are not eliminated or Purchaser's consent to them obtained within thirty (30) days after Seller's receipt of the commitment, then this Agreement may, at Purchaser's option, be canceled by Purchaser's notice to Seller not later than five (5) days following the expiration of the thirty (30) day period. 9. Prorations at Closing. Real property taxes for 2009 payable 2010 shall be prorated as of the Closing Date, based upon the latest official tax rates and credits and using the most recent assessment of the Property, and Purchaser shall receive a credit at Closing for that portion of the proration attributable to the period prior to the Closing. If the tax bills for the 2008 payable 2009 have been distributed prior to the Closing, the Seller shall pay them prior to or at the Closing. Otherwise, the Seller shall provide the Purchaser a credit for those taxes at the Closing. 10. Environmental Matters Pertaining to the Property. A. Representations and Warranties. Seller represents and warrants to Purchaser, such representations and warranties to be true and correct on the date hereof and as of the Closing date, that: (1) To the best of its knowledge, there are no Environmental Defects on the Property except as may be outlined on Exhibit C attached hereto and made a part hereof; (2) No lien has been imposed on the Property by any governmental agency at the federal, state, or local level in connection with the presence on or off the Property of any Hazardous Substance; to (3) Seller has not: (a) entered into or been subject to any environmentally-related consent decree, compliance order or administrative order relating to the Property; (b) received any request for information, notice, demand OPERATIONS FACILITY 3