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4. APPROVAL BY BOARD OF COMMISSIONSERS . Notwithstanding anything in this Agreement to the contrary, the obligations and duties of the parties hereunder are subject to and contingent upon the approval of this Agreement and its terms prior to Closing by Purchaser' s Board of Supervisors at an official meeting of such persons duty called and conducted in accordance with applicable law. In the event, for any reason, such approval has not been obtained on or before the date which is 30 days after the Effective Date, then either party may, in its sole and absolute discretion, cancel and terminate this Agreement by notifying the other in writing, whereupon neither party hereto shall have any further obligations, duties or liabilities, one to the other under this Agreement, except for those obligations, duties or liabilities which by their express terms survive the Closing and the expiration of this Agreement, or if the Closing does not occur, beyond the termination or breach of this Agreement (collectively, the "Surviving Obligations") . 5 . TITLE AND SURVEY. 5 . 1 . Permitted Title Exceptions . Subject to the provisions of this Article 5 , the Property will be sold subject to the matters set forth on Exhibit `B " attached hereto and incorporated herein by reference and the public use restrictions set forth in Exhibit "C" attached hereto and incorporated herein by reference (collectively, the "Permitted Title Exceptions"). 5 . 2. Title Commitment. Within fifteen (15) days after the Effective Date, Seller shall cause to be furnished to Purchaser a current commitment for title insurance (ALTA Form B) issued by an agent for First American Title Insurance Company or other reputable title insurance company selected by Seller (the "Title Company"), in the amount of the Purchase Price (the "Title Commitment") . The Title Commitment shall be accompanied by copies of all instruments set forth on Schedule B -Section 2 thereof. 5 . 3 . Review of Title Commitment. Purchaser shall have a period of fifteen ( 15) days (the "Title Review Period") after Seller's delivery of the Title Commitment in which to review the same and give written notice to Seller specifying Purchaser's objections (collectively, the "Objections"), if any, to the Title Commitment. Any objection must be a matter of title that in Purchaser's reasonable opinion (taking into account applicable standards of title) renders title to the Property less than good and marketable, and no Objection may consist of a Permitted Title Exception . If Purchaser shall fail to give written notice of Objections to Seller prior to the expiration of the Title Review Period, then Purchaser shall be deemed to have waived any objections and all exceptions to title shown on Schedule B of the Title Commitment shall be deemed to be Permitted Title Exceptions; provided, however, that Purchaser may, after the Title Review Period but prior to Closing, raise any Objection first appearing of record after the expiration of the Title Review Period. 5 .4. Seller's Right to Cure : Purchaser's Right to Terminate. If Purchaser provides Seller with notice of Purchaser's Objections prior to the expiration of the Title Review Period as provided in Section 5 . 3 (Review of Title Commitment), then Seller may, but shall not be obligated to (except with respect to liens created by the voluntary action of Seller and which can be removed by the payment of money), at any time prior to the Closing Date, make efforts to satisfy the Objections. If Seller for any reason refuses or fails to satisfy any Objections prior to the end of the Closing Date, then Seller shall not be in default under this Agreement and Purchaser shall elect one ( 1 ) of the following options : (i) waive the unsatisfied Objections, in which event those unsatisfied Objections lanuuy 8, 2008