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year in which Closing occurs, as set forth in Section 12, the premium for BUYER's owner's policy of title insurance, the fees due upon the recording of the deed from SELLER to BUYER; and one-half of Title's fee to conduct and insure the closing of this transaction. 8. POSSESSION. SELLER will be deemed to have tendered possession of the Property to BUYER on the actual date of Closing. On or before the actual date of Closing, SELLER will pay for all labor provided and materials delivered to the Property at the request of SELLER. SELLER will not place anything on the Property between the date of this Agreement and the actual date of Closing. If a third party places trash, refuse, debris, waste or hazardous waste ("Waste") on the Property between the date of this Agreement and the actual date of Closing, SELLER will use commercially reasonable efforts to remove the Waste, and, in the case of hazardous waste, remediate any contamination resulting from the presence of the hazardous substances on the Property, before the Date of Closing. If the Waste cannot be removed before the actual date of Closing, SELLER will escrow 125% of the estimated cost of removing the Waste and, in the case of hazardous waste, remediating any contamination resulting therefrom, with the Title Company to secure SELLER's obligation to remove the Waste and, if applicable, remedy the contamination, after Closing. If a third party places Waste on the Property between the date of this Agreement and the actual date of Closing, the cost of removing the Waste and, in the case of hazardous waste, remediating any contamination resulting therefrom, exceeds $5,000.00, SELLER elects not to incur that cost and BUYER does not agree to waive SELLER's obligations under this Section 8, SELLER may terminate this Agreement by written notice to BUYER pursuant to Section 17. 9. EVIDENCE OF TITLE. Within ten (10) days after the Effective Date, BUYER will obtain a current commitment from the Title Company to issue an ALTA 2006 Owner's Policy of Title Insurance, in the amount of the Property Payment, insuring BUYER' s title to the Property (the "Title Commitment"). The Title Commitment will (i) include any easements that are appurtenant to the Property in the description of the land set forth in Schedule A; (ii) state, in Schedule B-1, Title's requirements for deleting the standard exceptions; and (iii) list, in Schedule B-1, any liens to be satisfied at Closing. Seller will also cause Title to deliver to BUYER (i) copies of any documents referenced in the legal description, Schedule B1 or Schedule B2 of the Title Commitment; (ii) copies of the most recent vesting deeds for each adjoining parcel; (iii) a copy of the certificate of title if the Lane is registered property; and (iv) a copy of the vesting deed for the Land (the "Evidence of Title"). 10. EXA1VIINATION OF TITLE. Within ten (10) days after BUYER' s receipt of the last item of the Evidence of Title or within ten (10) days of BUYER' s discovery of a Title Defect, as defined below, that is not reasonably ascertainable from the Evidence of Title, BUYER may give SELLER written notice of the alleged Title Defect, as defined below, and request that SELLER make SELLER's title marketable of record and in fact ("Objections"). The term "Title Defect," as used in this Agreement means a defect in or an encumbrance on SELLER's actual or record title to the Property which render' s SELLER's title unmarketable under Minnesota Law. The Permitted Encumbrances may not serve as a basis for an Objection. If BUYER notifies SELLER of Objections within the time period set forth above, SELLER must use commercially reasonable efforts to make SELLER's actual and record title to 5