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shall defend, for a period not to exceed three years from the date of closing,
<br />at his sole cost and expense, any legal action, claim or proceeding instituted
<br />by any person against Purchaser as a result of any claim, suit, or cause of
<br />action for injuries to body, life, limb or property for which Hazardous Materials
<br />placed on the Property prior to closing are alleged to be a contributing legal
<br />cause. Seller shall save Purchaser harmless, for a period not to exceed three
<br />years from the date of closing, from and against all judgments, orders, decrees,
<br />attorney's fees, costs, expenses and liabilities in and about any such claim,
<br />suit, investigation or defense thereof, which may be entered, incurred or
<br />assessed as a result of the foregoing.
<br />Nothing contained in this paragraph 4.B. shall be construed to limit Seller's
<br />legal liability under any Environmental Law for Hazardous Materials located on
<br />the Property, nor to limit by definition or otherwise any legal or equitable
<br />remedies Purchaser may have against Seller for Hazardous Materials located on the
<br />Property.
<br />5. SURVEY. Purchaser may have the Property surveyed at its expense. If the
<br />survey ("Survey") obtained by Purchaser, shows any encroachment on the Property
<br />or improvements intended to be located on the Property encroach on the land of
<br />others, the same shall be treated as a title defect. The final approved survey
<br />will be provided to the County's independent contract appraisers to be considered
<br />in the determination of the final County approved appraised value.
<br />6. TITLE INSURANCE. Purchaser shall obtain, at least 30 days prior to the
<br />Option Expiration Date, a marketable title insurance commitment, to be followed
<br />by an owner's marketable title insurance policy (ALTA Form "B"), insuring
<br />marketable title of Purchaser to the Property in the amount of the Purchase
<br />Price. Purchaser will require that the title insurer delete the standard
<br />exceptions of such policy referring to: (a) all taxes, (b) unrecorded rights or
<br />claims of parties in possession, (c) survey matters, (d) unrecorded easements or
<br />claims of easements, and (e) unrecorded mechanics' liens.
<br />7. DEFECTS IN TITLE. If the title insurance commitment or survey furnished
<br />to Purchaser pursuant to this Agreement discloses any defects in title which are
<br />not acceptable to Purchaser, Seller shall, within 90 days after notice from
<br />Purchaser, remove said defects in title. Seller agrees to use diligent effort
<br />to correct the defects in title within the time provided therefor, including the
<br />bringing of necessary suits. If Seller is unsuccessful in removing the title
<br />defects within said time Purchaser shall have the option to either: (a) accept
<br />the title as it then is with no reduction in the Purchase Price, (b) extend the
<br />amount of time that Seller has to cure the defects in title, or (c) terminate
<br />this Agreement, thereupon releasing Purchaser and Seller from all further
<br />obligations under this Agreement. If Seller fails to make a diligent effort to
<br />remove the title defects, Seller shall be in default and the provisions of
<br />paragraph 17, of this Agreement shall apply.
<br />8. INTEREST CONVEYED. At closing, Seller shall execute and deliver to
<br />Purchaser a statutory general warranty deed satisfactory to Purchaser in form and
<br />content, conveying marketable title to the Property in fee simple free and clear
<br />of all liens, reservations, restrictions, easements, leases, tenancies and other
<br />encumbrances, except for those that are acceptable encumbrances in the opinion
<br />of Purchaser and do not impair the marketability of the title to the Property.
<br />9. PREPARATION OF CLOSING DOCUMENTS. Upon execution of this Agreement, Seller
<br />shall submit to Purchaser a properly completed and executed beneficial interest
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