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II. <br />It is further expressly understood and agreed between the parties hereto <br />that the conveyance to be made by the First Parties to the Second Party shall be <br />expressly subject to the following: <br />(a) All taxes, special assessments, and special taxes levied after the <br />year 1959, the First Parties agreeing to pay 1959 real- estate taxes <br />on or before May 1, 1960, and to forward to the Second Party receipt <br />therefor. <br />(b) The rights of all persons claiming by, through, or under the Second <br />Party. <br />(c) Building lines and building restrictions. <br />(d) The rights, if any, of the public in any portion of the premises <br />aforesaid, which may fall within any public street, way, or alley <br />adjacent or contiguous to said premises. <br />(e) The rights, if any, of the Texas Company, under lease dated <br />March 12, 1959. <br />III. <br />The Second Party has inspected the premises and is conversant with the <br />area within- described and the condition of the premises, including the improvements, <br />and Second Party is not relying on any representations made by First Parties. <br />(a) The First Parties reserve all personal property in or on the premises, <br />including office fixtures, tools, merchandise, and any and all filling - <br />station equipment (but not including certain filling- station equipment <br />owned by the Texas Company, which it has the right to remove). The <br />petroleum storage- tanks, located subsurface at the Locust Street <br />entrance of the building, are not reserved by First Parties. <br />(b) There has been furnished by the First Parties full and complete <br />Abstracts of Title, which Second Party shall have thirty (30) days <br />in which to examine and return to the First Parties with any objec- <br />tions. In event of any objections to the title of the within - described <br />real property, First Parties may proceed to comply with such objec- <br />tions, in which e-v ent First Parties shall have a reasonable time in <br />which to do so; or, in event the correction of such objections will <br />cost the First Parties in excess of Five Hundred Dollars ($500.00), <br />the First Parties shall have the option to return to the Second Party <br />any payment made, and cancel and annul this Contract in full, without <br />any obligation or liability whatever. <br />In event of any correction of title which First Parties may undertake <br />and which defect can be corrected by First Parties, such correction <br />shall not delay compliance on the part of Second Party with the terms <br />of this Contract during the process of such correction; in event First <br />Parties cannot deliver merchantable title, Second Party may elect to <br />declare this Contract null and void, and First Parties shall refund any <br />payments made hereunder, or Second Party may elect to be bound by <br />the terms of this Contract, in which event it shall waive any defect or <br />defects. <br />- 2 - <br />