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Period in order to complete Buyer's feasibility and due diligence investigations and thereafter <br /> until Closing to enable Buyer to prepare for taking possession as of Closing. This license to <br /> enter the Property excludes entry into any existing structures on the Property. Seller authorizes <br /> Buyer to apply for rezoning and final plat approval and for all other development approvals, <br /> rights and authorities, and Seller shall attend any meetings or communicate with such public <br /> officials and other third parties, as Buyer may reasonably request, in order to facilitate Buyers <br /> feasibility and due diligence investigations and Closing. <br /> 6. Title Examination. Except for the Permitted Encumbrances, Seller will satisfy <br /> all liens or encumbrances against the Property and Buyer will receive the Property free and clear <br /> of any and all liens or encumbrances. The title examination for the Property will be conducted <br /> as follows: <br /> a. Seller's Title Evidence. Seller shall, as promptly as possible, and in any event <br /> within twenty (20) days after the Effective Date, furnish to Buyer all of the <br /> following title evidence (the"Title Evidence"): <br /> (1) Title Commitment. A title commitment(the"Title Commitment")to <br /> issue an owner's title insurance policy (the "Title Policy") issued by Title <br /> Company or other mutually and reasonably acceptable title insurer. The Title <br /> Commitment will be issued on a current ALTA form, including complete and <br /> legible copies of all documents of record encumbering or affecting the Property <br /> and relevant tax lien, special assessment,judgment and bankruptcy searches, <br /> insuring title to the Property, deleting standard exceptions and in the full amount <br /> of the Purchase Price. The Title Commitment will commit the Title Company to <br /> insure that Buyer will have good and marketable title to the Property and its <br /> appurtenances on the Closing Date free and clear of all liens, mortgages and <br /> encumbrances, except the Permitted Encumbrances, and shall be updated prior to <br /> Closing and insuring the boundaries of the Property and of each parcel comprising <br /> the Property. The Title Commitment must include a contiguity endorsement for <br /> all parcels that make up the Property. <br /> (2) <br /> b. Title Obiections. Within thirty(30) days after Buyer's receipt of the Title <br /> Commitment and the Survey, Buyer will make written objections ("Objections") <br /> to the form and/or contents of the Title Commitment and the Survey and the status <br /> of title as shown on the Title Commitment and the Survey. Buyer's failure to <br /> make Objections within such time period will constitute a waiver of objections. <br /> If an update to the Title Commitment reveals any encumbrance that did not <br /> appear in the original Title Commitment, Buyer shall have the right to make <br /> Objections to such encumbrance and the provisions of this Section 5 (b) shall <br /> again apply to such Objections. Seller shall use its best efforts to correct all <br /> Objections within 30 days after receiving the Objections (the"Cure Period"), <br /> during which period the Closing will be postponed as necessary. Seller further <br /> agrees to use all reasonable efforts and to expend such sums as may be reasonably <br /> necessary to make such title marketable in the event a defect is disclosed. To the <br /> 5 <br />