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a. An Abstract of Title or Registered Property Abstract, together with proper searches <br />covering bankruptcy, federal and state judgments and tax liens, real estate taxes and special <br />assessments. <br /> <br />b. A commitment for an ALTA owner's policy of title insurance covering the Propert.y <br />issued by Registered Abstracters Inc. <br /> <br />c. SELLER may provide a title commitment issUed by Registered Abstracters, Inc. to <br />BUYER and, in that case, BUYER waives any claim for an Atsstract of Title or Registered <br />Property Abstract. <br /> <br /> 16. EXAMINATION OF TITLE. BUYER shall be allowed until the date ten (10) <br />days after receipt of such title evidence for examination of title and the making of any objections <br />thereto, which objections shall be in writing or they will be deemed to 'be waived. If any <br />objections are so made, SELLER shall be allowed until the date of closing to make such title <br />marketable, and SELLER shall use all reasonable efforts to make such title marketable~ <br /> <br /> If said title is not marketable and is not so made by the date of closing, as above provided, <br /> BUYER shall have the option of: <br /> <br />a. Declaring this Agreement null and void and receiving a refund from SELLER of all <br />Earnest Money paid hereunder; or <br /> <br />b. Waiving any defects in title and proceeding to close the transaction contemplated by this <br />Agreement. <br /> <br /> If the title to the Property is marketable or is made marketable by the date of Closing, and <br /> BUYER defaults in any of the agreements on its part to be performed under this Agreement <br /> and continues in default for a period of 5 days after written notice thereof is given to <br /> BUYER by SELLER, then SELLER shall have the remedies described below or under <br /> Mim~esota law. <br /> <br /> 17. DEFAULT. If either party defaults in the performance of any obligation under <br />this Agreement, the non-defaulting party may, after a 5 day written notice to the defaulting party, <br />suspend performance of its obligations under this Agreement and the rights of the non-defaulting <br />party are as follows: <br /> <br />BUYER's Default. If BUYER defaults in the performance of any of the <br />BUYER's obligations under this Agreement, SELLER shall have a right to: <br /> <br />(i) <br /> <br />Except as set forth at (ii) below, if BUYER defaults in the <br />performance of any of BUYER's obligations under this <br />Agreement, SELLER's sole and exclusive right shall be to seek a <br />Cancellation of this Purchase Agreement. <br /> <br />(ii) <br /> <br />If BUYER breaches a warranty or representation either before or <br />after closing, SELLER shall have the right to recover direct <br />damages reasonably related to such breach but not incidental or <br /> <br />-542- <br /> <br /> <br />