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“Deed”) from the Seller to the Buyer, and (ii) provide for issuance of a final ALTA owner’s title
<br />insurance policy, with any endorsements requested by Buyer, subject to the Permitted
<br />Encumbrances. Regardless of whether this transaction closes, Buyer shall be responsible for all of
<br />the Title Company’s title search charges and all costs of the Title Commitment and owner’s policy.
<br />8.REVIEW OF TITLE COMMITMENT AND SURVEY
<br />Within sixty (60) days after Buyer’s receipt of the Title Commitment, Buyer shall give Title
<br />Company and Seller written notice of any objections to any exceptions present in the Title
<br />Commitment. Within sixty (60) days after Buyer’s receipt of the Survey, Buyer shall give the
<br />surveyor and Seller written notice of any concerns with the boundaries or legal description shown
<br />in the Survey. Any exceptions identified in the Title Commitment or Survey concerns to which
<br />written notice to Title Company, surveyor, and Seller is not given within such period shall be a
<br />“Permitted Encumbrance.” If the Title Company is unable or unwilling to remove the exceptions
<br />in the Buyer’s Title Commitment and Surveyor is unable to remedy any boundary survey concerns
<br />within the Due Diligence Period, Buyer may terminate this Agreement by written notice to Seller
<br />prior to expiration of the Due Diligence Period. If Buyer fails to so terminate this Agreement, then
<br />any such objections, concerns, or issues shall constitute “Permitted Encumbrances” as of the
<br />expiration of the Due Diligence Period, and Buyer shall acquire the Property without any effect
<br />being given to anything present in the title commitment and/or survey.
<br />9. ENVIRONMENTAL MATTERS
<br />(A)For purposes of this Agreement, the term “Environmental Law(s)” shall
<br />mean any federal, state or local statute, law, ordinance, code, rule, regulation, order or decree
<br />regulating, relating to or imposing liability or standards of conduct concerning any Hazardous
<br />Substance, as now or at any time hereafter in effect. For purposes of this Agreement, the term
<br />“Hazardous Substance(s)” shall have the meaning ascribed in any Environmental Law to any
<br />hazardous, toxic, or dangerous waste, substance, pollutant or material, whether liquid, solid or
<br />gaseous.
<br />(B)Seller, to the best of Seller’s knowledge, represents and warrants that Seller
<br />has not violated any Environmental Laws in connection with the use, ownership, lease,
<br />maintenance or operation of the Property and the conduct of the operations related thereto.
<br />(C)To the best of Seller’s knowledge, neither Seller nor any other person within
<br />Seller's knowledge and/or control, including any lessees of the Property, has caused or permitted
<br />any Hazardous Substance to be placed, held, located or disposed of on, under or at the Property nor
<br />any part thereof and neither the Property nor any part thereof has ever been used by Seller or by
<br />any other person as a dump site or unauthorized storage site, whether permanent or temporary, for
<br />any Hazardous Substance.
<br />(D)Seller represents and warrants that, with respect to the Property, Seller is not
<br />a party to any litigation or administrative proceeding, nor, so far as is known by Seller after
<br />reasonable investigation, is any litigation or administrative proceeding threatened against the
<br />Property, which in either case asserts or alleges that: (i) Seller violated any Environmental Law;
<br />(ii) Seller is required to clean up or take other response action due to the release or threatened
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