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5 . 3 There are no existing or pending special assessments affecting the Property , which are or may be assessed by any governmental authority , water or sewer authority , school district , drainage district or any other special taxing district . 6 . Default . 6 . 1 In the event the County shall fail to perform any of its obligations hereunder , the Sellers shall , at their sole option , be entitled to : ( i ) terminate this Agreement by written notice delivered to the County at or prior to the Closing Date and thereupon neither the Sellers nor any other person or party shall have any claim for specific performance , damages , or otherwise against the County ; or ( ii ) waive the County' s default and proceed to Closing . 6 . 2 In the event the Sellers shall fail to perform any of their obligations hereunder, the County shall , at its sole option , be entitled to : ( i ) terminate this Agreement by written notice delivered to the Sellers at or prior to the Closing Date and thereupon neither the County nor any other person or party shall have any claim for specific performance , damages or otherwise against the Sellers ; or ( ii ) obtain specific performance of the terms and conditions hereof; or ( iii ) waive the Sellers ' default and proceed to Closing : 7 . Closing . 7 . 1 The closing of the transaction contemplated herein ( " Closing " and " Closing Date " ) shall take place within 45 days following the receipt of the Appraiser' s Final Report . The parties agree that the Closing shall be as follows : The Sellers shall execute and deliver to the County a warranty deed conveying marketable title to the Property , free and clear of all liens and encumbrances and in the condition required by paragraph 4 . ( b ) The Sellers shall have removed all of their personal property and equipment from the Property and Sellers shall deliver possession of the Property to the County vacant and in the same or better condition that existed at the Effective Date hereof. ( c ) If Sellers are obligated to discharge any encumbrances at or prior to Closing and fail to do so , the County may use a portion of Purchase Price funds to satisfy the encumbrances . ( d ) If the Sellers are a non - resident alien or foreign entity , Sellers shall deliver to the County an affidavit , in a form acceptable to the County , certifying that the Sellers and any interest holders are not subject to tax under the Foreign Investment and Real Property Tax Act of 1980 . ( e ) The Sellers and the County shall each deliver to the other such other documents or instruments as may reasonably be required to Close this transaction . Page 3of7