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. <br /> Municipality's costs within thirty (30) days after Developer's notice to <br /> Municipality. Cure or removal of defects by payment of money and <br /> delivery of release at Closing is acceptable. If, after the exercise of all <br /> reasonable diligence, Municipality is unable or unwilling to clear the Title <br /> Defects of the Premises within the stated period, then Developer may <br /> accept the Title Defects in its then condition, or Developer may terminate <br /> this Agreement whereupon both parties shall be released from further <br /> performance hereunder and the earnest money deposit shall be returned to <br /> Developer. <br /> Any exceptions to title listed in the title commitment as to which <br /> Developer does not object prior to Closing shall be Permitted Exceptions. <br /> H. MLJNICIPALITY'S REPRESENTATIONS AND WARRANTIES. <br /> Municipality, to the best of its knowledge after due inquiry, represents and warrants to <br /> Developer that: <br /> 1. It owns the Premises and Municipality's Property in fee simple absolute <br /> and has the power and authority to sell the Premises free and clear of all <br /> encumbrances except Permitted Exceptions. <br /> 2. No written or verbal lease or agreement or tenancy exists as to any portion <br /> of the Premises. <br /> 3. No written or verbal agreement to sell the Premises or any portion thereof <br /> and no options to sell exist other than this Agreement. <br /> 4. There are, and shall be, no mechanic's liens or other liens affecting the <br /> Premises at Closing, and Municipality shall deliver an affidavit to said <br /> effect at Closing. <br /> 5. There is no suit, arbitration, mediation, condemnation, proceeding, <br /> investigation or notice pending or threatened that pertains to or affects the <br /> Premises. <br /> 6. No notice from any Federal, State, City or other governmental authority <br /> has been received b Munici alit or Munici ali 's a ents of violation of <br /> Y p Y P tY g <br /> any environmental statute, rule or regulation with respect to the Premises. <br /> 7. The Municipality has Requested Proposals prior to selling the Premises to <br /> Developer and has selected the Developer's proposal as the highest and <br /> best use of the Premises. <br /> 8. There are no soil or geological conditions affecting the Premises that <br /> could materially and adversely affect the Premises or the ownership and <br /> - 7 - <br />