6.B.(5) Real Estate Purcahse and Site Work Agreement

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4. Title and Survey Matters. In addition to any other condition or contingency contained in this Agreement, the obligations of the Company and Public Entities, respectively, under this Agreement are subject to the satisfaction of the following conditions: (a) Evidence of Title. Within twenty (20) days after the Effective Date: (i) Company, at its sole cost and expense, shall cause to be furnished a copy of a commitment for an ALTA Owner's Title Insurance Policy from Meridian Title Corporation (the "Title Company"} in an insured amount determined by Commission (but not in excess of $1,625,000) regarding the Prairie Avenue Site (the "Prairie Title Commitment"). Prior to Closing, the Prairie Title Commitment shall show in Commission, good, merchantable and indefeasible title to the Prairie Avenue Site, in fee simple, free and clear of all liens and encumbrances other than the following exceptions: (a) the standard preprinted exceptions, (b) zoning and building setback laws, ordinances and regulations; (c) legal streets and highways; (d) covenants, restrictions, and easements of record which in Commission's discretion do not interfere with Commission's proposed use of the Prairie Avenue Site; and (e) the lien of real estate taxes which are not then due and payable (collectively, the "Prairie Permitted Exceptions"). The Prairie Title Commitment shall set forth the state of title to the Prairie Avenue Site, together with all exceptions or conditions to such title which would appear in an Owner's Title lnsurance Policy. After Closing, a Title Insurance Policy in conformance with the Prairie Title Commitment indicating the release of all mortgage and/or judgmenni liens, if any, shall be provided to Commission. (ii) The Commission, at its sole cost and expense, shall cause to be furnished to Company, a copy of a commitment for an ALTA Owner's Title Insurance Policy from Meridian Title Corporation (the "Title Company") in an insured amount determined by Company (but not in excess of $129,560) regarding the Oliver Park Site (the "Oliver Title Commitment"). Prior to Closing, the Oliver Title Commitment shall show in Company, good, merchantable and indefeasible title to the Oliver Park Site, in fee simple, free and clear of all liens and encumbrances other than the following exceptions: (a) the standard preprinted exceptions; (b) zoning and building setback laws, ordinances and regulations; (c) legal streets and highways; and (d) covenants, restrictions, and easements of- record which in Company's discretion do not interfere with Company's proposed use of the Oliver Park Site (collectively, the "Oliver Permitted Exceptions"). The Oliver Title Commitment shall sei forth the state of title to the Oliver Park Site, together with all exceptions or conditions to such title which would appear in an Owner's Title Insurance Policy. After Closing, a Title hnsurance Policy in conformance with the Oliver Title Commitment indicating the release of all mortgage and/or judgment liens, if any, shall be provided to Company. (b) Surve Within twenty (20) days after the Effective Date, the Commission, at its sole cost and expense, shall cause to be furnished to Company a current survey of the Oliver Park Site prepared by a licensed professional surveyor. The survey shall be to ALTA standards, set forth the boundaries and dimensions of the Oliver Park Site, showing all encroachments, easements and similar information, and shall provide a suitable legal REAL ES"rATE PURCHASE AND SITE WORK AGREEMENT PnGki 3