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(1} Terminate this Agreement without any liability and receive a refund of all <br />Earnest Money and accrued interest; or <br />(2) Buyer may waive the Objections and proceed to close. <br />d. Title Policy. Buyer may obtain at the Closing, at Buyer's expense, an Owner's <br />Title Policy issued by the Title Company, or a suitably marked up commitment <br />initiated by the Title Company undertaking to issue such a title policy required by <br />the commitment as approved by Buyer. <br />7. Operation Before Closing. During the period from the date of this Agreement to <br />the Closing Date, Seller will operate and maintain the Property in the ordinary course of <br />business. <br />8. Seller's Representations and Warranties. Seller represents and warrants to <br />Buyer, that: <br />a. Title to Property. Seller awns the Property, and on the Closing Date, the <br />Property will be free and clear of all encumbrances except the Permitted <br />Encumbrances. <br />b. Easements. The Property has full and complete legal access from a public road <br />by easements acceptable to Buyer, which will be provided to Buyer at the time of <br />Closing. <br />c. Assessments. Seller has not received any notice of actual or threatened special <br />assessments or reassessments of the Property, or any hearing notice of a new <br />public improvement project from any governmental assessing authority, the costs <br />of which maybe assessed against the Property. <br />d. Rights of Others to Purchase Property. Seller has not entered into any other <br />contracts for the sale of the Property, nor are there any rights of first refusal, <br />options to purchase, rights to build, leases or any other agreements regarding the <br />Property or any other rights of others that might prevent this Agreement's <br />consummation or affect the Property in any way. <br />e. No Other Parties in Possession. There are no parties, other than Seller, in <br />possession, or with a right to possession, of any part of the Property. <br />f. Construction Liens. No materials have been delivered nor any work or labor <br />performed on the Property under contracts with Seller during the last one hundred <br />twenty (120) days which have not been fully paid for, and no person or entity <br />presently has any lien, or right of lien, against the Property for labor or materials. <br />Seller will indemnify Buyer for all amounts that the latter may be compelled to <br />pay in discharging or settling any mechanics lien filed for record against the <br />Property and relating to such labor and/or materials. <br />GP:2945285 v4 <br />