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and accept title to the Property subject to such exceptions and proceed to Close of Escrow, or (b) terminate this Agreement and both Buyer and Seller shall be completely released from any obligations created herein and all deposits (and interest thereon) shall be returned promptly to Buyer. Buyer's failure to deliver written notice of its election shall be deemed to constitute its election to waive such exceptions as Seller has elected not to remove and proceed to Close of Escrow. All nonmonetary exceptions accepted or waived by Buyer and the Approved Exceptions shall constitute the Permitted Exceptions. At the Close of Escrow, Seller shall convey to Buyer fee simple absolute title to the Property, free and clear of all liens and title exceptions other than the Permitted Exceptions and any other liens or title exceptions created by or at the direction of Buyer. Seller's obligations regarding the delivery of title to Buyer shall be satisfied by Title Company's willingness to issue or issuing, at the Close of Escrow, a standard coverage CL T A owner.s policy of title insurance showing title to the Property vested in Buyer. free and clear of all exceptions to title other than the Permitted Exceptions. The amount of bonds or assessments which are liens against the subject property shall be paid in full by Seller at the Close of Escrow. Notwithstanding the foregoing, Buyer shall have the right to obtain an AL T A owner's title policy from the Title Company subject to Buyer's obligations to pay for any excess premium as further set forth in Paraaraph 16(b) below. 7. DELIVERY OF DOCUMENTS AND INFORMATION. Within three days after the Date of Agreement, at Seller's sole cost and expense, Seller shall make a reasonable effort to gather its files and documents and information, including existing leases and rental agreements, regarding the Property and deliver to Buyer for Buyer's inspection, to the extent that such documents and information currently exist and are in Seller's possession or under Seller's control. To the extent Buyer requests additional documentation and information not in Seller's possession and control, Seller agrees to reasonably cooperate with Buyer, at no cost and expense to Seller, to obtain such documents which third parties may have with respect to the Property. Any document provided by Seller under this Agreement shall be provided to Buyer by Seller for informational purposes only, and Seller makes no representation or warranty with respect to the truth, accuracy or completeness of any matter or information set forth in such documents and only represents that they have not knowingly falsified the documents. 8. ACCESS TO PROPERTY. Seller agrees to provide reasonable access to the Property to Buyer and inspectors, appraisers and all other professionals representing Buyer on two business days notice from Buyer. Buyer shall indemnify, defend, protect and hold Seller harmless from and against all costs, damages, claims, actions, causes of action, liabilities and expenses (including the reasonable attorneys. fees of counsel chosen by Seller) arising out of or related to Buyer's tests, surveys or other studies of the Property, and the acts of Buyer and its agents, employees and contractors while on the Property, and the enforcement of this Agreement of indemnity or the assertion by Page 4 of 16 C:\Occuments and Settings\Dell Optlplex GX520\My Documents\PurchaseAgrr47.6.09redIine\PurchaseAgndoc