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7. Buyer's Closing Conditions. <br /> <br /> a. Buyer's obligation to perfoxm under this Agreement is conditioned <br />upon: <br /> <br /> (1) The Seller's warranties set forth in this Agreement being true <br />at Close of Escrow; and <br /> <br /> (2) Delivery to Buyer of the following documents on the Close of <br />Escrow: <br /> <br /> (a) Grant Deed. <br /> <br /> (b) Title Policy or the Title Company's commitment to <br />issue the Title Policy in the face amount of the Purchase Price naming Buyer as the <br />insured and subject only to the standard printed exceptions in the Title Policy and the <br />Permitted Exceptions. <br /> <br /> In the event the foregoing conditions are not satisfied or waived by Buyer in writing <br />on the Scheduled Closing Date, Buyer may elect to temfinate this Agreement. <br /> 8. Closing Costs. The closing costs shall be paid by Buyer: <br /> 9. "As Is" Purchase. <br /> <br /> a. Buyer acknowledges and agrees that the Property is to be purchased, <br />conveyed and accepted by Buyer in its present condition, "AS-IS, WHERE-IS", and that <br />no patent or latent defect in the condition of the Property, whether or not known or <br />discovered, shall give rise to any claim or cause of action by Buyer against Seller. <br /> <br /> b. Buyer has investigated and has knowledge of operative or proposed <br />governmental laws and regulations including land use laws and regulations to which the <br />Property may be subject and shall acquire the Property upon the basis of its review and <br />detemfination of the applicability and effect of such laws and regulations. <br /> <br /> 10. Notices. All notices and demands shall be given in writing by personal <br />service, certified mail, postage prepaid and return receipt requested, or by Federal <br />Express, Express Mail or any other commercial delivery service which guarantees <br />overnight delivery (an "Overnight Service") or by facsimile. Notices and payments <br />required hereunder, shall be considered given when (i) personally served, (ii) when <br />certified mail notices are delivered or, if unclaimed or rejected, on the date of rejection or <br />return to the party giving the notice, (iii) the next business day after deposit with an <br />Overnight Service marked for overnight delivery or (iv) by facsimile upon receipt. <br />Notices shall be addressed as appears below for the respective parties, provided that if <br />any party gives notice of a change in name or address, notices to the giver of such notice <br />shall thereafter be given as demanded in such notice. <br /> <br />17996.00003~BGLIB 1 \108964.8.4 3 <br /> <br /> <br />