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Original <br />Commitment with respect to the Property County shall within fifteen (15) days following <br />the Effective Date of this Agreement deliver written notice to Sellers of title defects. Title <br />shall be deemed acceptable to County if (a) County fails to deliver notice of defects within <br />the time specified, or (b) County delivers notice and Sellers cure the defects within thirty <br />(30) days from receipt of notice from County of title defects ("Curative Period") Sellers <br />shall use its best efforts to cure the defects within the Curative Period and if the title <br />defects are not cured within the Curative Period, County shall have thirty (30) days from <br />the end of the Curative Period to elect, by written notice to Seller, to: (i) to terminate this <br />Agreement, whereupon shall be of no further force and effect, or (ii) extend the Curative <br />Period for up to an additional 90 days; or (iii) accept title subject to existing defects and <br />proceed to closing. <br />5. Representations of the Sellers. <br />5.1 Sellers are indefeasibly seized of marketable, fee simple title to the Property, and is <br />the sole owner of and has good right, title, and authority to convey and transfer the <br />Property which is the subject matter of this Agreement, free and clear of all Hens and <br />encumbrances. <br />4.2 From and after the Effective Date of this Agreement, Sellers shall take no action <br />which would impair or otherwise affect title to any portion of the Property, and shall record <br />no documents in the Public Records which would affect title to the Property, without the <br />prior written consent of the County. <br />4.3.1 There are no existing or pending special assessments affecting the Property, which <br />are or may be assessed by any governmental authority, water or sewer authority, school <br />district, drainage district or any other special taxing district. <br />5. Default. <br />5.1 In the event the County shall fail to perform any of its obligations hereunder, the <br />Seller shall, at its sole option, be entitled to: (i) terminate this Agreement by written notice <br />delivered to the County at or prior to the Closing Date and thereupon neither the Seller nor <br />any other person or party shall have any claim for specific performance, damages, or <br />otherwise against the County; or (ii) waive the County's default and proceed to Closing. <br />5.2 In the event the Seller shall fail to perform any of its obligations hereunder, the <br />County shall, at its sole option, be entitled to: (i) terminate this Agreement by written notice <br />delivered to the Seller at or prior to the Closing Date and thereupon neither the County nor <br />any other person or party shall have any claim for specific performance, damages or <br />otherwise against the Seller; or (ii) obtain specific performance of the terms and conditions <br />hereof; or (iii) waive the Seller's default and proceed to Closing: <br />6. Closing. <br />3 <br />