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5. CURE OF TITLE DEFECTS, ENCUMBRANCES, RESERVATIONS <br />AND EXCEPTIONS. If Seller is unable to comply with the <br />requirements of subparagraphs..3 (a) and 3 (b) above, then Seller <br />shall have 30 days after receipt of notice thereof to remove <br />said defect(s) and to provide Buyer with evidence thereof. If <br />Seller is unable to remove said defect(s) within such 30 day <br />period, then Buyer may either: (1) accept title to the Property <br />subject to said defect(s) without any reduction in the total <br />purchase price, or(2) terminate this Agreement by written <br />notice to Seller and thereupon have returned all items and fUnds <br />theretofore paid or deposited hereunder, in which event Seller <br />shall pay all nonrefundable escrow, title and financing costs <br />theretofore incurred and Seller and Buyer shall be relieved of <br />further liability hereunder. <br /> <br /> 6. ESCROW PROCEDURE. All documents and funds <br />necessary to complete this transaction shall be placed in escrow <br />with Chicago Title Insurance Company by April 30, 1991 or any <br />earlier date, after approval of this Agreement by Council, <br />agreeable to both parties. This Agreement shall be considered by <br />the Escrow Agent as escrow instructions, but shall be subject to <br />the Escrow Agent,s-standard conditions of escrow acceptance <br />where not inconsistent herewith, and which conditions of escrow <br />made a part hereof and incorporated herein by <br /> <br />shall be <br />reference. <br /> <br /> 7. <br /> <br /> ~ITLE TRANSFER, OCCUPANCY AND POSSESSION. <br /> A. Title Transfer.' Title <br /> <br />Purchaser by the recording of the deed <br /> <br />changed by agreement of Buyer and Seller. <br /> <br />shall transfer to <br /> <br />unless such date is <br /> <br /> <br />