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assessments which are a lien, but not yet due and <br />payable, (3) such restrictions, conditions, easements <br />(hoWever created) and encroachments as do not materially <br />adversely affect the use or value of the Property, such <br />as easements of record and month-to-month tenancies. <br /> <br /> 5. CURE OF TITLE DEFECTS, ENCUMBRANCES, <br /> <br />RESERVATIONS AND EXCEPTIONS. If Seller is unable to <br />comply with the requirements of subparagraphs 4 (a) and <br />4 (b) above, then Seller shall have 30 days after <br />receipt of notice thereof to remove said defect(s) and <br />to provide Buyer With evidence thereof. If Seller is <br />unable to remove said defect(s) within such 30 day <br />period, then Buyer may either: (1) accept title to the <br />Property subject to said defect(s) without any reduction <br />in the total purchase price, or (2) terminate this <br />Agreement by written notice to Seller and thereupon have <br />returned all items and funds theretofore paid or <br />deposited hereunder, in which event Seller shall pay all <br />nonrefundable escrow,' title and financing costs <br />theretofore incurred and Seller and Buyer shall be <br />relieved of further liability hereunder. <br /> <br /> 6. ESCROW PROCEDURE. All documents and funds <br />necessary to complete this transaction shall be placed <br />in escrow with Executive Title Agency Corporation <br />at least five (5) days before closing. Closing shall be <br />on December 1, 1991, or earlier at Seller's option, but <br />4 <br /> <br /> <br />