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3 <br />The Property shall be conveyed to Buyer free of any Encumbrances other than Permitted <br />Encumbrances (as defined in Section 6). The Title Commitment will be issued by a title <br />company selected by Buyer and reasonably acceptable to Seller (the “Title Company”). <br />The Title Commitment shall: <br /> <br />(1) Agree to insure good, marketable, and indefeasible fee simple title to <br />the Property (including public road access) .in the name of the Buyer for the full <br />amount of the Purchase Price upon delivery and recordation of a special warranty <br />deed from the Seller to the Buyer. <br /> <br />(2) Provide for issuance of a final ALTA owner's title insurance policy, <br />with any endorsements requested by Buyer, subject to the Permitted Encumbrances. <br />Regardless of whether this transaction closes, Buyer shall be responsible for all of the Title <br />Company's title search charges and the cost of the Title Commitment and owner's policy. <br /> <br />6. REVIEW OF TITLE COMMITMENT AND SURVEY <br /> <br />Buyer shall give Seller written notice, within thirty (30) days after the Contract Date, of any <br />objections to the Survey or Title Commitment. Any exceptions identified in the Title <br />Commitment or Survey to which written notice of objection is not given within such period <br />shall be a Permitted Encumbrance. If the Seller is unable or unwilling to correct the Buyer's <br />title and survey objections within thirty (30) days after receipt of a written notice of Buyer's <br />objection to a matter revealed by review of the Survey and/or Title Commitment, Buyer may <br />terminate this Agreement by written notice to Seller prior to expiration of the Due Diligence <br />Period. If Buyer fails to so terminate this Agreement, then such objections shall constitute <br />Permitted Encumbrances as of expiration of the Due Diligence Period, and Buyer shall <br />acquire the Property without any effect being given to Buyer's title and survey objections. <br /> <br />7. SELLER’S REPRESENTATIONS AND WARRANTIES <br /> <br />A. The Parties acknowledge that the Property is subject to a certain Contract for <br />Conditional Sale of Real Estate (Land Contract) dated February 28, 2006 (the “Land <br />Contract”) with Daniel Sedam (“Land Contract Holder”), which is attached as Exhibit B. <br />Notwithstanding the foregoing, the undersigned Seller represents and warrants to Buyer that <br />he is fully empowered to sell the Property to Buyer under the terms and conditions stated in <br />this Agreement, as evidenced by the Land Contract Holder’s signature indicating his consent <br />to this transaction on the last page of this Agreement. <br /> <br />B. Seller, to the best of Seller’s knowledge, represents and warrants that Seller <br />is not a party to any litigation or administrative proceeding with respect to the Property, nor <br />has any litigation or administrative proceeding been threatened against the Property. <br />Additionally, Seller represents and warrants that he has disclosed to Buyer any notifications <br />from any local, state, or federal authority regarding environmental matters pertaining to the <br />Property. Seller shall provide Buyer a copy of all known environmental inspection reports, <br />engineering, title, and survey reports and documents in Seller’s possession relating to the