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encumbrances, easements, covenants, conditions restrictions adverse claims and <br />other matters, other than the Permitted Exceptions (defined in Exhibit B <br />attached hereto and made a part hereof). <br />B. Commitment. As soon hereafter as reasonably possible, Seller, at its sole cost <br />and expense, shall cause to be issued and delivered to Buyer, a Commitment <br />covering the Premises issued by the Title Company wherein the Title <br />Company agrees to issue to Buyer upon the recording of the Deed, (defined <br />herein) and the conveyance documents described herein, a current form of <br />ALTA Owner's Title Insurance Policy ("Commitment"), with standard <br />coverage, in the full amount of the purchase price. The Commitment shall be <br />accompanied by copies of all recorded documents affecting the Premises, and <br />shall include searches for real estate taxes and pending and levied special <br />assessments. Buyer shall deliver a copy of the Survey (defined herein) to <br />Title Company so that the initial Commitment may be amended or <br />supplemented to contain any survey exceptions to title. <br />C. Survey. Seller, at its sole cost and expense, shall provide a current <br />ALTA/ACSM Land Title Survey ("Survey") of the Premises prepared by a duly <br />licensed land surveyor in the State of Minnesota. <br />D. Title Objections. Buyer shall have until thirty (30) days from the date it <br />receives the latter of the Commitment or Survey (or any update or supplement <br />thereto) to make its objections to matters disclosed in the Commitment or <br />Survey (or any update or supplement thereto) in writing to Seller. Any <br />exception disclosed in the Commitment or Survey (or any update or supplement <br />thereto) and not timely objected to by Buyer within the thirty (30) day period <br />shall be deemed a "Permitted Exception" hereunder. Seller shall have until <br />thirty (30) days after it receives such objections to have the same removed or <br />satisfied, using commercially reasonable efforts, or the Title Company agrees to <br />insure over said defect based on Seller's Letter of Undertaking. If Seller shall <br />fail to have such objections removed within that time, then Buyer may, as its <br />sole remedy, either (a) terminate this Agreement without any liability on its part <br />and receive the Earnest Money (together with any accrued interest) back, <br />(b) waive such objections in writing and proceed to closing with the <br />understanding that such uncured objections shall be deemed Permitted <br />Exceptions at closing, or (c) attempt to cure such uncured objections, in which <br />event Buyer shall have an additional thirty (30) days to attempt to cure such <br />objections, and if Buyer is not successful in curing such objections, Buyer shall <br />then have the right to either terminate this Agreement pursuant to clause (a) <br />above, or waive such objections pursuant to clause (b) above. Seller shall use <br />reasonable efforts to cure or have the Title Company insure over (i) mortgage or <br />deed of trust financing or similar liens given for security or collateral purposes, <br />(ii) state, federal or local tax liens or liens for the nonpayment of special <br />assessments, and (iii) any other judgment liens or non-consensual monetary <br />liens (collectively, "Liens"), it being the understanding and agreement that any <br />such Liens will be satisfied out of Seller's proceeds at closing, if not sooner <br />paid. <br />Page 2 of 16 <br />