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8. ESCROW PROCEDURE. All documents and funds and/or financial <br />commitments for funds necessary to complete this transaction shall be placed in escrow <br />with the Surety Title Company in sufficient time to permit transfer of title on the date set <br />forth for closing. This Agreement shall be considered by the escrow agent as escrow <br />instructions, but shall be subject to the escrow agent's standard conditions of escrow <br />acceptance where not inconsistent herewith, and which conditions of escrow shall be <br />made a part hereof and incorporated herein by reference. <br />9. TITLE TRANSFER. Title will transfer to Buyer by the recording of the deed, <br />on or about thirty (30) days from the date of this Agreement, unless the parties <br />otherwise agree to a mutually satisfactory date in writing. <br />10. TITLE GUARANTY. Said evidence of Title Guaranty shall be in the amount <br />of the purchase price of the property, and is to be furnished with fifteen (15) days prior <br />to closing for examination by Buyer. Seller shall be given written notice within two (2) <br />days after receipt of such report by~;,Buyer of any defect in title requiring correction, and <br />shall undertake to make such corrections immediately. Seller-shall not be liable for any <br />damages by reason of any defect in title which cannot be corrected, but if such defect is <br />not remedied prior to closing, either party may terminate this contract on notice and any <br />deposit shall be refunded to Buyer, releasing both parties from further obligations and <br />liability hereunder. <br />11. PRORATIONS, CHARGES, AND CREDITS. <br />A. Buyer. Buyer shall be charged with the following costs, to be <br />deducted by the escrow agent from funds due Buyer, if any, or to be <br />paid by Buyer prior to transfer of title: <br />1. The cost of the location service or survey, including surveying and <br />preparing the legal description; <br />-4- <br />