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within 10 business days follow•ing the date of recertification furnish to the <br /> Authority a commitment letter from a title insurance company acceptable to the <br /> Authority pertaining to the real estate, subject only to those matters to which <br /> this transaction is subject. The commitment letter shall contain an agreement <br /> to furnish an Owner's Title Insurance Policy in the amount of $1 ,059,000.00 <br /> at the closing. The title insurance policy shall insure a fee simple title in the <br /> Authority as to the real estate. <br /> (c) Defects in Titl.e to Real Estate. The Authority shall have 15 days from <br /> the date of receipt of the letter of commitment to examine the commitment and <br /> make any objections thereto. The Authority shall submit all title objections to <br /> the City in writing within said 15-day period. The City shall have 21 days from <br /> the receipt of the Notice of Defects to cure same. In the event the City cannot <br /> cure a defect as to the real estate within the time stated above, the Authority may: <br /> (1) Waive the defect and accept the title as it is; or <br /> (2) Extend for a reasonable time the period in which the defect <br /> may be cured by the C ity; or <br /> (3) Declare the Fourth Amendment Agreement to be null, void <br /> and of no further effect, with neither party thereafter having <br /> an obligation hereunder to the other party hereto, and the <br /> effect shall be the same as if the Fourth Amendment Agreement <br /> had not been entered into by the parties hereto. <br /> The title insurance policy for the real estate shall be issued at the cost <br /> of the City within 30 days following closing. <br /> 5. Closing . Unless this Fourth Amendment Agreement shall have been <br /> terminated pursuant to other provisions contained in this Agreement, the closing <br />� -4- <br />