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6.PRESERVATION OF TITLE <br />After the Contract Date, Seller shall not take any action or allow any action to be taken by others <br />to cause the Property to become subject to any interests, liens, restrictions, easements, covenants, <br />reservations, or other matters affecting Seller’s title (such matters are referred to as <br />“Encumbrances”). Seller acknowledges that Buyer intends to obtain, at Buyer’s sole expense, and <br />to rely upon a commitment for title insurance on the Property (the “Title Commitment”) and a <br />survey of the Property (the “Survey”) identifying all Encumbrances as of the Contract Date. The <br />Property shall be conveyed to Buyer free of any Encumbrances other than Permitted <br />Encumbrances (as defined in Section 8 below). <br />7.TITLE COMMITMENT AND POLICY REQUIREMENTS <br />Buyer shall obtain the Title Commitment for an owner’s policy of title insurance issued by a title <br />company selected by Buyer and reasonably acceptable to Seller (the “Title Company”) within ten <br />(10)days after the Contract Date. The Title Commitment shall (i) agree to insure good, marketable, <br />and indefeasible fee simple title to the Property (including public road access) in the name of the <br />Buyer for the full amount of the Purchase Price upon delivery and recordation of a special warranty <br />deed (the “Deed”) from the Seller to the Buyer, and (ii) provide for issuance of a final ALTA <br />owner’s title 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 ten (10) days after Buyer’s receipt of the Title Commitment, Buyer shall give Seller written <br />notice of any objections to the Title Commitment. Within ten (10) days after Buyer’s receipt of <br />the Survey, Buyer shall give Seller written notice of any objections to the Survey. Any exceptions <br />identified in the Title Commitment or Survey to which written notice of objection is not given <br />within such period shall be a “Permitted Encumbrance.” If the Seller is unable or unwilling to <br />correct the Buyer’s title and survey objections within the Due Diligence Period, 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 the expiration of the Due Diligence Period, and Buyer shall acquire <br />the Property without any effect being given to such title and survey objections. <br />9.NOTICES <br />All notices required or allowed by this Agreement, before or after Closing, shall be delivered in <br />person or by certified mail, return receipt requested, postage prepaid, addressed to Seller in care <br />of Seller’s Representative (with a copy to South Bend Legal Department, 215 S. Dr. Martin Luther <br />King Jr., Blvd., Suite 600, South Bend, IN 46601, Attn: Corporation Counsel), or to Buyer in care <br />of Buyer’s Representative at their respective addresses stated in Section 2 above. Either Party <br />may, by written notice, modify its address or representative for future notices.