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Conditions of Escrow <br />2.02 The conveyance to Buyer, or its nominee, of good and marketable title to the Property <br />by Limited Warranty Deed is a condition of this transaction. Seller shall provide such title evidence <br />by an Owner's Fee Policy of Title Insurance issued by CHICAGO TITLE INSURANCE <br />COMPANY in the amount of the purchase price, subject only to (i) real estate taxes and <br />assessments, both general and special, which are not yet due and payable; (ii) zoning ordinances; <br />(iii) standard exceptions contained in the title company's typical form of title insurance; and (iv) <br />such other liens, encumbrances, restrictions, easements or conditions of record, if any, which do not <br />materially adversely affect the use or value of the Properly. Seller shall further provide to Buyer at <br />Closing, as a condition of this transaction, a written mutual termination of lease, signed by both <br />Seller and Seller's tenant, JAMES LUMBER COMPANY, fully terminating all of the said tenant's <br />rights of possession in and to the Property as such may have existed under the tenant's lease with <br />Seller. The obligations of Seller hereunder are specifically conditioned upon (i) the termination of <br />the current Lease with JAMES LUMBER COMPANY, and with the same having been <br />i accomplished, then and only then, (ii) the dismissal with prejudice by Buyer of the lawsuit styled <br />City of North Olmsted v. Z Properties, L.L.G, et al., Case No. 2001 ADV 0048931, currently <br />pending in Cuyahoga County Probate Court. If Seller is unable to provide the termination referenced <br />in (i) above, then the obligations of Seller and Buyer hereunder are terminated. <br />Delivery of Possession <br />2.03 Seller shall deliver possession of the Property to Buyer, or its nominee, immediately on <br />Closing, free and clear of all uses, tenancies and other occupancies, except such as Buyer may <br />expressly waive in writing. It is contemplated by the parties hereto that Seller's tenant, namely, <br />JAMES LUMBER COMPANY, will continue to occupy the Property after Closing, but only a <br />7i31i01 (#1) -2-