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insured the Property and Buyer does not elect to terminate this contract in accordance with this <br /> section, the Purchase Price will be reduced by the cost to repair the 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 administrative <br /> hearing that is threatened, filed, or initiated before closing that affects the Property. <br /> 5. 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 terminate this contract and record a notice of termination. <br /> J. Termination <br /> 1. 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 for <br /> the right granted by Seller to Buyer to terminate this contract. If,however, <br /> Buyer terminates this contract after the end of the Inspection Period for any <br /> reason other than as permitted under this contract,the Earnest Money shall <br /> 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 /> Earnest Money to Seller. <br /> 2. Duties after Termination. If this contract is terminated, Buyer will promptly return <br />