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4 <br />5.PRESERVATION OF TITLE AND CONDITION <br />A.After the date Sellers receive a copy of this Agreement as described in <br />Section 1, Sellers shall not take any action or allow any action to be taken by others to <br />cause the Property to become subject to any new interests, liens, restrictions, easements, <br />covenants, reservations or other matters affecting Sellers’ title (such matters are referred <br />to as “Encumbrances”). <br />B.Sellers hereby covenant that they will not alter the condition of the <br />Property at any time after the date Sellers receive a copy of this Agreement as described <br />in Section 1. Further, Sellers will not release or cause to be released any hazardous <br />substances on or near the Property and will not otherwise collect or store hazardous <br />substances or other materials, goods, refuse or debris at the Property. <br />6.TITLE COMMITMENT AND SURVEY <br />Buyer shall obtain the Title Commitment for an owner’s policy of title insurance issued <br />by a title company selected by Buyer and reasonably acceptable to Sellers (the “Title <br />Company”) within twenty (20) days after the Contract Date. Buyer, at its option, may <br />obtain a survey of the Property, at its sole expense. The Property shall be conveyed to <br />Buyer free of all encumbrances, including, but not limited to, mortgages, judgments, and <br />taxes, unless otherwise waived in writing by Buyer. The Title Commitment will be <br />issued by a title company selected by Buyer and reasonably acceptable to Sellers (the <br />“Title Company”). The Title Commitment shall: <br />(1)Agree to insure good, marketable and indefeasible fee simple title to the <br />Property in the name of the Buyer for the full amount of the Purchase Price upon delivery <br />and recordation of a special warranty deed from the Sellers to the Buyer. <br />(2)Provide for issuance of a final ALTA owner’s title insurance policy, with <br />any endorsements requested by Buyer, subject only to any encumbrances waived by <br />Buyer. <br />Regardless of whether this transaction closes, Buyer shall be responsible for the title <br />search charges, the cost of the Title Commitment and owner’s policy. Within thirty (30) <br />days after Buyer’s receipt of the Title Commitment, Buyer shall give Sellers written <br />notice of any objections to the Title Commitment. Within thirty (30) days after Buyer’s <br />receipt of the Survey, Buyer shall give Sellers written notice of any objections to the <br />Survey. Any exceptions identified in the Title Commitment or Survey to which written <br />notice of objection is not given within such period shall be a “Permitted Encumbrance.” <br />If the Sellers are unable or unwilling to correct the Buyer’s title and survey objections <br />within the Due Diligence Period, Buyer may terminate this Agreement by written notice <br />to Sellers prior to expiration of the Due Diligence Period. If Buyer fails to so terminate <br />this Agreement, then such objections shall constitute “Permitted Encumbrances” as of the <br />expiration of the Due Diligence Period, and Buyer shall acquire the Property without any <br />effect being given to such title and survey objections.