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(4) CLOSING DATE 



This Agreement shall be closed and the deed and possession shall be 



delivered on or before December 31, 1987; unless extended by other 



provisions of this Agreement. * 



(5) PRORATIONS 



Taxes, and other expenses and revenue of said property shall be prorated 

 as of the date of closing. 



( 6 ) EVI PENCE OF TITLE 



Within thirty (30) days from the date of this Agreement, the Seller 

 shall at its expense deliver to the Buyer or his attorney a title 

 guarantee commitment issued by a qualified title insurer agreeing to 

 issue to the Buyer upon the recording of the deed hereafter mentioned, 

 as owner guarantee in the amount of the purchase price insuring the 

 title of the Buyer to that real property, subject only to liens, 

 encumbrances, exceptions or qualifications set forth in this contract 

 and those which shall be discharged by the Seller at or before closing. 

 Buyer shall have fifteen (15) days from the date of receiving the 

 evidence of title to examine same. If title is found to be defective, 

 the Buyer shall, within said period notify the Seller in writing 

 specifying the defects. If the said defects render the title 

 unmarketable, the Seller shall have ninety (90) days from the receipt of 

 such notice to cure the defects, and if after said period the Seller 

 shall not have cured tne defects, buyer shall have the option: (1) of 

 accepting title as it then is or (2) declining to accept title and 

 thereupon this Agreement shall be cancelled and the Buyer and the Seller 

 shall have no claim against each other. 



(7) CONVEYANCE 



Seller shall convey title to the aforesaid property to the Buyer by 

 quitclaim deed subject to matters contained in this Agreement and taxes 

 for the year of closing. 



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