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Property. If Seller has not insured the Property and Buyer does not elect to terminate this contract <br />in accordance with this section, the Purchase Price will be reduced by the cost to repair the <br />casualty damage. <br />3. Condemnation. Seller will notify Buyer promptly after Seller receives notice that <br />any part of the Property has been or is threatened to be condemned or otherwise taken by a <br />governmental or quasi - governmental authority. Buyer may terminate this contract if the <br />condemnation would materially affect Buyer's intended use of the Property by giving notice to <br />Seller within fifteen days after receipt of Seller's notice to Buyer (or before closing if Seller's <br />notice is received less than fifteen days before closing). if Buyer does not terminate this contract, <br />(a) Buyer and Seller will each have the right to appear and defend their respective interests in the <br />Property in the condemnation proceedings, (b) any award in condemnation will be assigned to <br />Buyer, (c) if the taking occurs before closing, the description of the Property will be revised to <br />delete the portion taken, and (d) no change in the Purchase Price will be made. <br />4. Claims; Hearings. Seller will notify Buyer promptly of any claim or <br />administrative hearing that is threatened, filed, or initiated before closing that affects the <br />Property. <br />S. Cooperation. Seller will cooperate with Buyer (a) before and after closing, to <br />transfer the applications, permits, and licenses held by Seller and used in the operation of the <br />Property and to obtain any consents necessary for Buyer to operate the Property after closing and <br />(b) before closing, with any reasonable evaluation, inspection, audit, or study of the Property <br />prepared by, for, or at the request of Buyer. <br />6. No Recording. Buyer may not file this contract or any memorandum or notice of <br />this contract in the real property records of any county. If, however, Buyer records this contract or <br />a memorandum or notice, Seller may tenninate this contract and record a notice of termination. <br />J. Termination <br />Disposition of Earnest Money after Termination <br />a To Buyer. If Buyer terminates this contract in accordance with any of <br />Buyer's rights to terminate, Seller will, within five days after receipt of <br />Buyer's termination notice, authorize Title Company to deliver the Earnest <br />Money to Buyer, less $100, which will be paid to Seller as consideration <br />for the right granted by Seller to Buyer to terminate this contract. If, <br />however, Buyer terminates this contract after the end of the Inspection <br />Period for any reason other than as permitted under this contract, the <br />Earnest Money shall be paid to Seller. <br />b. To Seller. If Seller terminates this contract in accordance with any of <br />Seller's rights to terminate, Buyer will, within five days after receipt of <br />Seller's termination notice, authorize Title Company to pay and deliver the <br />1�0 <br />