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which relate to: (1) parties in possession, (2) unrecorded easements, (3) survey matters, (4) unrecorded mechanics' liens, (5) gap
<br />period (period between the effective date and time of commitment to the date and time the deed is recorded) and (6) unpaid taxes,
<br />assessments and unredeemed tax sales prior to the year of Closing. Any additional premium expense to obtain OEC will be paid by
<br />® Buyer ❑ Seller E One -Half by Buyer and One -Half by Seller ❑ Other .
<br />Regardless of whether the Contract requires OEC, the Title Insurance Commitment may not provide OEC or delete or insure over
<br />any or all of the standard exceptions for OEC. The Title Insurance Company may require a New Survey or New ILC, defined below,
<br />among other requirements for OEC. If the Title Insurance Commitment is not satisfactory to Buyer, Buyer has a right to object under
<br />§ 8.7. (Right to Object to Title, Resolution).
<br />8.1.4. Title Documents. Title Documents consist of the following: (1) copies of any plats, declarations, covenants,
<br />conditions and restrictions burdening the Property and (2) copies of any other documents (or, if illegible, summaries of such
<br />documents) listed in the schedule of exceptions (Exceptions) in the Title Commitment furnished to Buyer (collectively, Title
<br />Documents).
<br />8.1.5. Copies of Title Documents. Buyer must receive, on or before Record Title Deadline, copies of all Title
<br />Documents. This requirement pertains only to documents as shown of record in the office of the clerk and recorder in the county
<br />where the Property is located. The cost of furnishing copies of the documents required in this Section will be at the expense of the
<br />party or parties obligated to pay for the owner's title insurance policy.
<br />8.1.6. Existing Abstracts of Title. Seller must deliver to Buyer copies of any abstracts of title covering all or any
<br />portion of the Property (Abstract of Title) in Seller's possession on or before Record Title Deadline.
<br />8.2. Record Title. Buyer has the right to review and object to the Abstract of Title or Title Commitment and any of the
<br />Title Documents as set forth in § 8.7. (Right to Object to Title, Resolution) on or before Record Title Objection Deadline. Buyer's
<br />objection may be based on any unsatisfactory form or content of Title Commitment or Abstract of Title, notwithstanding § 13, or
<br />any other unsatisfactory title condition, in Buyer's sole subjective discretion. If the Abstract of Title, Title Commitment or Title
<br />Documents are not received by Buyer on or before the Record Title Deadline, or if there is an endorsement to the Title Commitment
<br />that adds a new Exception to title, a copy of the new Exception to title and the modified Title Commitment will be delivered to
<br />Buyer. Buyer has until the earlier of Closing or ten days after receipt of such documents by Buyer to review and object to: (1) any
<br />required Title Document not timely received by Buyer, (2) any change to the Abstract of Title, Title Commitment or Title Documents,
<br />or (3) any endorsement to the Title Commitment. If Seller receives Buyer's Notice to Terminate or Notice of Title Objection,
<br />pursuant to this § 8.2. (Record Title), any title objection by Buyer is governed by the provisions set forth in § 8.7. (Right to Object
<br />to Title, Resolution). If Seller has fulfilled all Seller's obligations, if any, to deliver to Buyer all documents required by § 8.1.
<br />(Evidence of Record Title) and Seller does not receive Buyer's Notice to Terminate or Notice of Title Objection by the applicable
<br />deadline specified above, Buyer accepts the condition of title as disclosed by the Abstract of Title, Title Commitment and Title
<br />Documents as satisfactory.
<br />8.3. Off -Record Title. Seller must deliver to Buyer, on or before Off -Record Title Deadline, true copies of all existing
<br />surveys in Seller's possession pertaining to the Property and must disclose to Buyer all easements, liens (including, without
<br />limitation, governmental improvements approved, but not yet installed) or other title matters not shown by public records, of which
<br />Seller has actual knowledge (Off -Record Matters). This Section excludes any New ILC or New Survey governed under § 9 (New
<br />ILC, New Survey). Buyer has the right to inspect the Property to investigate if any third party has any right in the Property not shown
<br />by public records (e.g., unrecorded easement, boundary line discrepancy or water rights). Buyer's Notice to Terminate or Notice of
<br />Title Objection of any unsatisfactory condition (whether disclosed by Seller or revealed by such inspection, notwithstanding § 8.2.
<br />(Record Title) and § 13 (Transfer of Title)), in Buyer's sole subjective discretion, must be received by Seller on or before Off -
<br />Record Title Objection Deadline. If an Off -Record Matter is received by Buyer after the Off -Record Title Deadline, Buyer has
<br />until the earlier of Closing or ten days after receipt by Buyer to review and object to such Off -Record Matter. If Seller receives
<br />Buyer's Notice to Terminate or Notice of Title Objection pursuant to this § 8.3. (Off -Record Title), any title objection by Buyer is
<br />governed by the provisions set forth in § 8.7. (Right to Object to Title, Resolution). If Seller does not receive Buyer's Notice to
<br />Terminate or Notice of Title Objection by the applicable deadline specified above, Buyer accepts title subject to such Off -Record
<br />Matters and rights, if any, of third parties not shown by public records of which Buyer has actual knowledge.
<br />8.4. Special Taxing and Metropolitan Districts. SPECIAL TAXING DISTRICTS MAY BE SUBJECT TO
<br />GENERAL OBLIGATION INDEBTEDNESS THAT IS PAID BY REVENUES PRODUCED FROM ANNUAL TAX LEVIES
<br />ON THE TAXABLE PROPERTY WITHIN SUCH DISTRICTS. PROPERTY OWNERS IN SUCH DISTRICTS MAY BE
<br />PLACED AT RISK FOR INCREASED MILL LEVIES AND TAX TO SUPPORT THE SERVICING OF SUCH DEBT
<br />WHERE CIRCUMSTANCES ARISE RESULTING IN THE INABILITY OF SUCH A DISTRICT TO DISCHARGE SUCH
<br />INDEBTEDNESS WITHOUT SUCH AN INCREASE IN MILL LEVIES. BUYERS SHOULD INVESTIGATE THE
<br />SPECIAL TAXING DISTRICTS IN WHICH THE PROPERTY IS LOCATED BY CONTACTING THE COUNTY
<br />TREASURER, BY REVIEWING THE CERTIFICATE OF TAXES DUE FOR THE PROPERTY AND BY OBTAINING
<br />FURTHER INFORMATION FROM THE BOARD OF COUNTY COMMISSIONERS, THE COUNTY CLERK AND
<br />RECORDER, OR THE COUNTY ASSESSOR. The official website for the Metropolitan District, if any, is:
<br />8.5. Tax Certificate. A tax certificate paid for by ❑ Seller ® Buyer, for the Property listing any special taxing or
<br />metropolitan districts that affect the Property (Tax Certificate) must be delivered to Buyer on or before Record Title Deadline. If
<br />the content of the Tax Certificate is unsatisfactory to Buyer, in Buyer's sole subjective discretion, Buyer may terminate, on or before
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