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903958 90-- 107327 they may determine at the time of exercise. it is also under- - stood and agreed that if one of the two Optionees does not wish to exercise his option, the remaining Optionee shall have the right = to purchase and exercise this option individually. In the event -- �•--- --- --� the option is exercised by both Optionees, the exercise shall be determined to have been made by both Optionees as tenants in S. If the Optionees exercise this option, the optionors shall convey title to the real property to the Optionees, or the Optionees' nominee, by good and sufficient Warranty Deed(s), with dower rights released, if any, warranting title to be free and clear of all liens, charges and encumbrances, clouds and defects whatsoever, except such defects, restrictions, reservations, limitations, easements and conditions of record as would be dis- closed in a Commitment of Title Insurance, zoning ordinances, and taxes and assessments, both general and special, which are a lien but not due and payable and subject to any leasehold interests then in effect. The Deed(s) shall be deposited with the Escrow Agent on or before the closing date. Prior to the deposit of the Deed(s) into escrow, a copy of the Deed(s) shall be submitted to the Optionees' counsel for approval. The optionors warrant, which warrant shall survive the execution of this Agreement, that the property is subject only to the defects, encumbrances, etc., as would be set forth in a Commitment of Title Insurance had one been ordered by the parties hereto at the date of execution of this Option Agreement, and the Optionors agree not to further encumber the property in any manner whatsoever while this option remains in effect. I:iVI:•1: f. r I1 ry I•