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8.Failure to Perfect Title or Make The Property Conform: <br />If, at the expiration of the extended time provided in Paragraph 7 above, despite <br />SELLER’s diligent and good faith efforts, SELLER shall have failed so to remove any <br />defects in title, deliver possession, or make the Property conform, as the case may be, all <br />as herein agreed, then any payments made under this Agreement shall be forthwith <br />refunded and all other obligations of the parties hereto shall cease and this Agreement <br />shall be void without recourse to the parties hereto. <br />9.BUYER’s Election to Accept Title <br />: <br />BUYER shall have the election, at either the original Closing Date or any extended <br />Closing Date, to accept such title as SELLER can deliver to the Property in its then <br />condition and to pay therefor the Purchase Price without deduction, in which case the <br />SELLER shall convey such title to BUYER. <br />10.Acceptance of Deed: <br />The acceptance and recording of a deed by BUYER shall be deemed to be the full <br />performance and discharge of every agreement and obligation herein contained or <br />expressed, except such as are, by the terms hereof, to be performed after the delivery of <br />said deed. <br />11.Use of Purchase Money to Clear Title: <br />To enable SELLER to make conveyance as herein provided, SELLER may, at the time of <br />delivery of the deed, use the purchase money or any portion thereof to clear the title of <br />any or all encumbrances or interests, provided that all instruments so procured are <br />recorded simultaneously with the delivery of said deed or, with respect to institutional <br />mortgages only, as soon as possible thereafter in accordance with applicable laws and <br />conveyancing practices. <br />12.Deposit: <br />The Deposit made hereunder shall be held in escrow by the law firm of Anderson & <br />Kreiger LLP (the “Escrow Agent”) in accordance with the terms and conditions of this <br />Paragraph 12 and the agreement affixed hereto as Exhibit B (the “Escrow Agreement”). <br />13.BUYER’s Default; Damages: <br />If BUYER shall fail to fulfill BUYER’s agreements herein, all deposits made hereunder <br />by BUYER shall be paid to SELLER as liquidated damages and this shall be SELLER's <br />sole and exclusive remedy at law or in equity for any breach of this Agreement by the <br />BUYER. <br />{A0187183.4 } <br />3 <br /> <br />