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(b) Delivery of Documents. Seller shall deliver to Buyer, as promptly as available and in any event
<br />within five (5) days of the Effective Date, copies of the following documents in Seller's possession or readily
<br />available to Seller: all existing agreements, contracts, leases, appraisals, title reports, title insurance policies,
<br />easements, restrictions, surveys, site plans, engineering reports, soil reports, geotechnical reports, environmental
<br />studies and reports, licenses, permits, land plans, subdivision plats, professional certifications, contractor
<br />information and quotations, permits, warranties, tenant financial information, and all other documents and written
<br />information related to the Property (collectively, the "Due Diligence Documents").
<br />(c) Title Matters. At least ten (10) days prior to the expiration of the Inspection Period, Buyer shall
<br />obtain a title insurance commitment covering the Real Property and shall deliver to Seller a written notice of any
<br />title objections (the "Objection Notice"). If Buyer fails to deliver the Objection Notice as required herein (or, if
<br />Buyer has failed to obtain a title commitment in a timely manner), then Buyer shall be deemed to have accepted all
<br />matters of record as of the effective date of the title commitment, and all such matters shall be deemed Permitted
<br />Exceptions. Following receipt of the Objection Notice, Seller may remedy, or agree to remedy prior to Closing,
<br />Buyer's title objections to the reasonable satisfaction of Buyer and its title insurer by delivering a notice to that
<br />effect (the "Objection Response") prior to the later to occur of: (a) the date five (5) business days after the
<br />Objection Notice, or (b) five (5) days prior to the expiration of the Inspection Period. Notwithstanding the
<br />foregoing, Buyer shall not be obligated to object to any title encumbrances that can be removed solely by the
<br />payment of money, such as mortgages or statutory liens, and Seller shall convey title to the Property free and clear
<br />of any such encumbrances at Closing.
<br />If Seller does not timely deliver an Objection Response indicating that it will cure or remedy all of the title
<br />objections set forth in the Objection Notice, then Buyer, at its election, shall have the right either to: (a) proceed to
<br />Closing, in which case Buyer shall accept title to the Property subject to the objections that Seller has not agreed to
<br />cure or remedy (and such matters shall be deemed Permitted Exceptions); or (b) terminate this Agreement by
<br />delivery of written notice to Seller within five (5) business days after its receipt of the Objection Response, or if no
<br />Objection Response has been given by Seller, within ten (10) business days after its delivery of the Objection
<br />Notice. In addition, if Seller delivers an Objection Response but subsequently fails (despite the exercise of
<br />commercially reasonable good faith efforts) to cure or remedy all of the title objections that it had obligated itself
<br />to do so in the Objection Response, then Buyer, at its election, shall have the right either to: (a) proceed to Closing,
<br />in which case Buyer shall accept title to the Property subject to the objections that Seller has failed to cure or remedy
<br />(and such matters shall be deemed Permitted Exceptions); or (b) terminate this Agreement by delivery of written
<br />notice to Seller prior to the Closing Date. If the uncured Objection affects the ability to access to the property for
<br />commercial use by the Buyer, its successors or assigns, Buyer shall receive a refund of the Good Faith Deposit only.
<br />Seller shall cause no encumbrances or easements to be placed on or granted with respect to the Property,
<br />other than those existing as of the Effective Date, or allow any existing easement affecting the Property to be
<br />relocated, in each case without the prior written consent of Buyer. If any such encumbrances or easements arise
<br />prior to the Closing Date and Buyer objects, Seller shall, at its sole expense, cure the objections, and the failure of
<br />Seller to do so shall constitute a default by Seller under this Agreement.
<br />During the Inspection Period, Buyer may cause a registered land surveyor to prepare and certify an updated
<br />as -built survey of the Land and the Improvements (the "Survey"), and if so, shall deliver a copy of the Survey to
<br />Seller prior to the expiration of the Inspection Period. Buyer shall have the right to make written objections to title
<br />based upon the Survey.
<br />4. CLOSING. Buyer and Seller agree that the Closing shall occur as follows:
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