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possession to Buyer. Substantial damage is any damage in excess of $10,000.00 to <br />repair and/or the premises are unfit in whole or in part for occupancy. If the premises <br />are not substantially damages, and/or unfit for occupancy, the repairs shall be made <br />forthwith by Buyer. <br />6. MARKETABLE TITLE. Seller shall convey to Buyer marketable title at <br />the close of escrow, free of all encumbrances whatsoever, except restrictions, <br />conditions and easements of record; encroachments that do not materially and <br />adversely affect the use or value of the premises; zoning ordinances; and, taxes and <br />assessments, both general and special, not yet due and payable subject to the <br />provisions of paragraph 11 (c) below. <br />7. AS IS. Buyer hereby acknowledges that it has examined the premises <br />and accepts it in as an "as is" condition, and there are no representations or warranties <br />made by either party other than what is contained in this document. Any <br />representations herein shall survive the filing of the deed for record. No modification of <br />this Agreement may be made unless in writing and signed by both parties. <br />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 />-3-