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Fifty Thousand Dollars ($6,350,000.00),which purchase price shall be paid by Buyer to Seller by <br /> wire transfer at Closing (hereinafter defined). <br /> 3.03. Title. <br /> a. Title to the Property shall be good and marketable, free and clear of all liens, <br /> encumbrances,restrictions,and other title objections other than easements of record <br /> as of the date of this Agreement and physical encroachments existing as of the date <br /> of this Agreement. Seller shall deliver a commitment for an owner's title insurance <br /> policy from a title company licensed to do business in the State of Illinois (the <br /> "Title Company")in a form acceptable to Buyer(the"Title Policy")insuring title <br /> in the Property issued at regular rates. <br /> b. In the event Buyer raises any title objections with respect to the Title Commitment <br /> and/or any objections with respect to the Survey, Seller shall use its best efforts <br /> (except for easements of record or physical encroachments existing as of the date <br /> of this Agreement) to remove monetary liens, judgments or encumbrances to (i) <br /> correct, at Seller's cost and expense, all such title objections and Survey objections <br /> before Closing to Buyer's reasonable satisfaction,and(ii)deliver to Buyer adequate <br /> assurances that all monetary liens, judgments or encumbrances will be removed <br /> before or at Closing. If Seller is unable to correct such objections and/or provide <br /> such assurances before Closing to Buyer's reasonable satisfaction,Buyer may have <br /> the option of (a) taking such title as Seller can give without abatement of the <br /> Purchase Price, except that any existing liens,judgments or encumbrances which <br /> can be removed by the payment of money shall be paid and discharged by Seller at <br /> or prior to Closing, or(b)terminating this Agreement. Should Seller violate or fail <br /> to fulfill and perform any of the terms and conditions of this Agreement required <br /> to be performed by Seller, Buyer shall have the right to terminate this Agreement. <br />