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9. TITLE TRANSFER. Title will transfer to Buyer by the recording of the <br />deed, on or before December 22, 2006, unless the parties otherwise agree to a mutually <br />satisfactory date in writing. <br />10. TITLE GUARANTY. Said evidence of Title Guaranty shall be in the <br />amount of the purchase price of the property, and is to be furnished with fifteen (15) <br />days prior to closing for examination by Buyer. Seller shall be given written notice <br />within two (2) days after receipt of such report by Buyer of any defect in title requiring <br />correction, and shall undertake to make such corrections immediately. Seller shall not <br />be liable for any damages by reason of any defect in title which cannot be corrected, but <br />if such defect is not remedied prior to closing, either party may terminate this contract <br />on notice and any deposit shall be refunded to Buyer, releasing both parties from further <br />obligations and liability hereunder. <br />11. PRORATIONS, CHARGES, AND CREDITS. <br />A. Buver• 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 />2. The cost of any special tax search; <br />3. The difference between the cost of any Owner's Policy of Title <br />Insurance and Title Guaranty; <br />4. The costs incident to filing the deed and any mortgage(s) placed <br />upon the property; <br />5. The costs incident to the obtaining of financing, if any; and <br />6. One half (1/2) of the escrow fee. <br />-4-