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?01405065 c. That there are no claims, demands, liabilities or actions pending or threatened against Rasmussen or the real estate which constitute or might ripen into a lien or claim against real estate or which could prevent, prohibit, delay or interfere with Panowicz's intended use of the real estate. 5. Title. Within 30 days after the execution of the Option, Rasmussen shall furnish Panowicz a commitment for an Owner's Policy of Title Insurance issued by a title insurance company satisfactory to Panowicz, pursuant to which such title insurance company shall agree to insure good and marketable fee simple title to the real estate for the full amount of the purchase price upon delivery of a Deed by Rasmussen to Panowicz. Panowicz shall have a period of 60 days following receipt of the Title Insurance Commitment in which to examine the same and notify Rasmussen, in writing, of any title or survey objections, after which Rasmussen shall have 30 days in order to correct any objections to title and to satisfy any further title requirements. 6. Merging of Title. Upon the closing of the purchase of the real estate by Panowicz, his leasehold interest in the real estate leased from Rasmussen shall merge into Panowicz's ownership interest of the property. 7. Modification to Agreement. It is agreed that no change or changes shall be made in this Option Agreement except by writing signed by the parties hereto, setting forth the terms of the agreed modification. 8. Notices. For purposes of exercising the Option, or for purposes of giving any notice required under the terms of this Agreement, the following shall be deemed to be the current addresses of the parties, unless changed by the parties in writing: With respect to Rasmussen: With respect to Panowicz: Donald C. Rasmussen and Barbara M. Rasmussen 8220 N. Bluff Center Rd. Cairo, NE 68824 Michael Panowicz 10228 W. White Cloud Road Cairo, NE 68824 The parties hereto may, from time to time, designate such other place to which any written notice is to be sent by notifying the other party, in writing, of such designation.