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<br />Conditions of Escrow <br /> <br />(1) The Conveyance to Buyer or his nominee of good and marketable title to said <br />property, as evidencecl by a tifle guarantee issued by Chicago Title Insurance Company, subject <br />only to such liens, e,ncumbrances, restrictions, easements, or conditions as may be approved in <br />writing by Buyer. <br />Deliverv of Possession <br />(2) Delivery of possession of said property to Buyer or his nominee, immediately on <br />closing, free and clear of all uses and occupancies, except as Buyer may waive in writing. <br />Subdivision of Land <br />(3) The parties hereto recognize and understand that the subject parcel of land which is <br />being purchased was a portion of a larger block of land. Seller warrants that said land which <br />is the subject of this purchase was properly subdivided according to law. <br />Issuance of a Permit <br />(4) The parties hereto further recognize that it is the desire of the Buyer to construct a <br />residential structure upon the subject parcel. The Seller warrants that a single family residence <br />is a permissible use for said property and there aze no prohibitions to the issuance of a permit <br />for same. <br />Failure of Conditions <br />2.02 Should any of the conditions specified in Paragraph 2.01 of this Agreement fail to <br />occur within thirty (30) days of the opening of escrow as provided in Paragraph 2.01 of this <br />Agreement, Buyer shall have the power, exercisable by the giving by them of written notice to <br />the escrow agent and to Seller, to cancel such escrow, terminate this Agreement, and recover <br />any amounts paid by him to Seller or to the escrow agent on account of the purchase price of <br />