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the Buyer. <br /> (2) Provide for issuance of a final ALTA owner's title insurance policy, with <br /> 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 /> 5. REVIEW OF TITLE COMMITMENT AND SURVEY <br /> Buyer shall give Seller written notice,within forty-five (45) days after the Contract Date, of <br /> any 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 fifteen(15)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 /> 6. SELLER'S REPRESENTATIONS AND WARRANTIES <br /> A. The undersigned Seller's representative represents and warrants to the Buyer <br /> that Seller is duly organized, validly existing, and in good standing under the laws of the <br /> State of Indiana and Seller owns in fee simple title to the Property and has not granted any <br /> option or right of first refusal to any person or entity to acquire the Property or any interest <br /> therein. Seller's undersigned representative further represents and warrants to Buyer that <br /> the Seller is fully empowered to sell the Property to Buyer under the terms and conditions <br /> stated in this Agreement. <br /> B. Seller, to the best of Seller's undersigned representative's knowledge, <br /> represents and warrants that Seller is not a party to any litigation or administrative <br /> proceeding with respect to the Property,nor has any litigation or administrative proceeding <br /> been threatened against the Property. Additionally, Seller's undersigned representative <br /> represents and warrants that Seller has disclosed to Buyer any notifications from any local, <br /> state, or federal authority regarding environmental matters pertaining to the Property. Seller <br /> shall provide Buyer a copy of all known environmental inspection reports,engineering,title, <br /> and survey reports and documents in Seller's possession relating to the Property. In the <br /> event the Closing does not occur, Buyer will immediately return all such reports and <br /> documents to Seller. <br /> 7. REMEDIES <br /> Upon any default in or breach of this Agreement by either Party, the defaulting Party will <br /> proceed immediately to cure or remedy such default within thirty(30) days after receipt of <br /> 3 <br />