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(d) At the Repurchase Closing, Grantee shall execute and deliver to Grantor: (i) a limited warranty deed <br />conveying title to the Property to Grantor, subject only to the Permitted Exceptions, and such other matters established <br />against title after the date of Closing with the express written consent of Grantor (except financing liens established <br />at or after Closing, which Grantee shall discharge prior to or at the time of the re- conveyance); (ii) such other <br />documents, certificates, instruments and the like, as may be required by the Title Company to issue a policy of title <br />insurance subject only to the Permitted Exceptions, with all standard exceptions removed; and (iii) possession of the <br />Property, subject to the matters permitted hereunder. <br />(e) In the event that Grantor elects to exercise the Right to Repurchase in accordance herewith, the purchase <br />price for the Property (hereinafter referred to as the "Repurchase Price") shall be whatever amounts Grantee shall have <br />paid to Grantor by the Closing Date for Grantee's purchase of the property, including any deposits, cash and principal <br />and interest paid by Grantee to Grantor under the terms of the purchase agreement between Grantee and Grantor and <br />mortgage note from Grantee to Grantor plus the fair market value of any improvements to the Property made by the <br />Buyer but in no event less than the amount due under the Construction Mortgage. Grantor shall deliver the Repurchase <br />Price to the Title Company in cash or other funds available for immediate credit to Grantee. Closing costs shall be <br />shared by the Grantor and the Grantee according to the custom of the jurisdiction in which the Property is located. <br />