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