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extend the Curative Period for up to an additional 90 days ; or ( iii ) accept title subject to existing defects and proceed to closing . 5 . Representations of the Sellers . 5 . 1 Sellers are indefeasibly seized of marketable , fee simple title to the Property , and are the sole owners of and have good right , title , and authority to convey and transfer the Property which is the subject matter of this Agreement , free and clear of all liens and encumbrances . 5 . 2 From and after the Effective Date of this Agreement , Sellers shall take no action which would impair or otherwise affect title to any portion of the Property , and shall record no documents in the Public Records which would affect title to the Property , without the prior written consent of the County . 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 . Page 3 of 7