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� 23. Optior� to P+.::c�ase. Provided that Te*�2nt is not#hen in �efault and no event of default has � " occurred which with the giving of notice or;he passage of time, cr both, wouid constitute a default; and further provided that this Lease has not previously terminated, Landlord hereby grants to Tenant an option to purchase the Leased Premises ("Purchase Option")to be exercised by Tenant delivering prior written notice to Landlord for a closing to occur at any time prior to expiration of the third year of the Term in accordance with the following terms and provisions: a. Notice. Tenant shall notify Landlord in writing that it is exercising the Purchase Option `�L�; ("Option �lotice"), which Option Notice shall set forth the date on which Tenant desires to close the �+ purchase transaction ("Ctosing Date") which Closing Date shall be no !ater than one hundred twenty(120) r..� days after the date of the Option Notice. ;,�; � b. Purchase Price. The purchase price for the Leased Premises pursuant to this Purchase Option ("Option Purchase Price")shall be Seven Hundred Fifty Thousand Dollars($750,000.00). � c. Closin4. TenaM shall pay the Option Purchase Price in cash or immediately available funds at the closing on the purchase of the Leased Premises ("Closing°). � d. Titfe Insurance. Within ten (10)days after delivery of the Option Notice to landlord, � Landlord shall deliver to Tenant a commitment(°Commitment")for issuance of an ALTA Owners Title � Insurance Policy("Policy"), issued by a mutually acceptable title insurance company("Title Company") C3') together with copies of all schedule B-2 exceptions identified therein, along with ALTA Land Titte Survey, � sufficient to perrnit the title company to delete standard printed exceptions in iYs owners policy of titfe _ insurance, pertaining to matters that would be disclosed by an accurate survey of the leased premises and unrecorded easemerrts(`Titte Documerrts"). Tenant shall have ten (10) days after delivery of the Titie Documents and Survey to review and app�ove the same ("Title Review Period"). In the event Tenant objects to any Title Documents,Tenant shall deliver a written objection notice to Landlord on or before expiration of the Title Review Period. Landlord, in its sole discretion, shall have the right to cu�e (prior to tfie Closing Date) or insure over such title objection. In the everrt Landlord is unwilling or unable to cure or insure over such title objections,Tenant shall have the right to(i)withdraw the Option Notice and continue to Lease the Leased Premises in accordance with the terms of this Lease; or(ii)waive the objections and closing on the Closing Date,without any reduction of the Option Purchase Price. e. Deed. All right,titfe and interest in and to the Leased Premises shall be conveyed by a Special Warranty Deed from Landlord to Tenant,free and clear of all liens and encumbrances other than those approved or deemed approued pursuant to the foregoing paragraph. f. No Warranties. The Leased Premises shall be conveyed in its then existing "AS IS, WHERE ISN condition with all faults. g. Remedies. Tenant's sole remedies in the everit of Landlord's faiiure to convey the Leased Premises shall be to (i)withdraw the Option Notice and elect either to continue the Leasa or terminate the Lease;or(ii) enforce Landlord's obligation to sell the Leased Premises by specific performance, and Tenant shall have no right to recover damages. h. Closina Fees. Closing fees of the Title Company shall be shared equally and real property taxes shall be prorated to the date of Closing. i. Proiections. Tenant's Base Rent and the amounts due hereunder will be prorated to the close of escrow(subject to Tenant's obligation to pay c2rtain expenses under the Lease). j. Additiera� Documenz�. Tk��parties dyree to execu��any additiGS�al ir,�.,�uctiuns «r�� further documents as are nomnal and usual. 6