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5 <br />a counter-signed copy of this Agreement from the Airport Authority as described in Section <br />1. Further, the Commission will not release or cause to be released any hazardous <br />substances on or near the Commission Property and will not otherwise collect or store <br />hazardous substances or other materials, goods, refuse or debris at the Commission <br />Property in violation of applicable laws. <br />5.TITLE COMMITMENT AND SURVEY <br />A.Airport Authority Property. The Commission shall obtain the title <br />commitment for an owner’s policy of title insurance for the Airport Property issued by a <br />title company selected by the Commission and reasonably acceptable to the Airport <br />Authority (the “Title Company”) within twenty (20) days after the Effective Date. The <br />Commission, at its option and sole expense, may obtain a survey of the Airport Authority <br />Property. The Airport Authority Property shall be conveyed to the Commission free of all <br />encumbrances, including, but not limited to, mortgages, judgments, and taxes, unless <br />otherwise waived in writing by the Commission. <br />B.Commission Property. The Airport Authority shall obtain the title <br />commitment for an owner’s policy of title insurance for the Commission Property issued <br />by the same title company selected by the Commission in Section 5A within twenty (20) <br />days after the Effective Date. The Airport Authority, at its option and sole expense, may <br />obtain a survey of the Commission Property. The Commission Property shall be conveyed <br />to the Airport Authority free of all encumbrances, including, but not limited to, mortgages, <br />judgments, and taxes, unless otherwise waived in writing by the Airport Authority. <br />C.Title Commitment Contents. Each title commitment shall: <br />i.Agree, upon delivery and recordation of a special warranty deed by <br />the transferring party, to insure good, marketable, and indefeasible <br />fee simple title to the property being transferred in the name of the <br />receiving party; and <br />ii.Provide for issuance of a final ALTA owner’s title insurance policy, <br />with any endorsements requested by the Parties, subject only to any <br />encumbrances waived by the receiving Party for the property to be <br />received. <br />D.Responsibility for Costs. Regardless of whether this transaction closes, the <br />Commission shall be responsible for the title search charges, the cost of the <br />title commitment and owner’s policy as well as any endorsements thereto <br />for the Airport Authority Property, and the Airport Authority shall be <br />responsible for the title search charges, the cost of the title commitment and <br />owner’s policy as well as any endorsements thereto for the Commission <br />Property. <br />E.Objections to Title Commitment. Within thirty (30) days after the <br />Commission’s receipt of its title commitment, the Commission shall give