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attached Exhibit B, subject only to exceptions approved or accepted by the <br />Buyer under paragraph 6; <br /> <br />(2) <br /> <br />An Owner's Policy of Title Insurance (the "Title Policy") issued by the Title <br />Company in the full mount of the Sales Price, dated as of the Closing Date, <br />insuring Buyer's fee simple title to the Property subject to the permitted~title <br />exceptions and the standard printed exceptions contained in the usual form <br />of the Title Policy in tlfis state; the cost for the Title Policy shall be borne by <br />the Buyer; <br /> <br />(3) Possession of the Property and any keys to it; and <br /> <br />(4) <br /> <br />Alt other documents reasonably required by the Title Company or the Buyer <br />to carry out the terms of this Contract. <br /> <br />B. At the closing, the Buyer will deliver to the Seller: <br /> <br />(1) The Sales Price (less the Earnest Money) in the form ora check, and <br /> <br />(2) <br /> <br />Any document reasonably required by the Title Company or the Seller to <br />carry out the terms of this Contract. <br /> <br />The costs for curing title matters, the title insurance premium, and all other costs and <br />expenses to be paid by the Seller under this Contract will be the Seller's obligations. <br />The Seller and the Buyer will each pay one-half of the escrow fee charged by the <br />Title Company. The Buyer will pay alt costs identified in this Contract to be the <br />Buyer's obligations. <br /> <br />Rents, utility charges, ad valorem taxes and any other items of income or operational <br />expenses owing in counection with the Property for the current year shall be prorated <br />at the closing effective as of the Closing Date. <br /> <br />CASUALTY LOSS. If any part of the Property is dmnaged or destroyed by flooding, <br />earfl~quake or other casualty loss prior to closing, the Buyer may terminate this Contract and <br />have the Eamest Money promptly refunded, or the Buyer may accept the Property in its then <br />existing condition. <br /> <br />DEFAULT. If the Buyer fails to comply with its obligation to purchase the Prope~ry, the <br />Seller may either enforce specific performance of this Contract, to the exclusion of its other <br />remedies, or the Seller may terminate this Contract and receive the Earnest Money as <br />liquidated damages. If the Seller fails to comply with its obligation to sell the Property, the <br />Buyer may terminate this Contract and receive the Earnest Money, thereby releasing the <br />Seller from this Contract, or the Buyer may enforce specific performance of this Contract, <br />to the exclusion of its other remedies. <br /> <br />3 <br /> <br /> <br />