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� ' �9-sU��.�� written notice to Baker and, upon such cancellation, both parties shall be relieved of their liability hereunder. i . Deed. Baker shall deliver to First Commerce at closing, a Warranty Deed, properly executed, conveying to First Commerce valid fee simple title to the Property, free from encumbrances except as provided in paragraph b. above, and Baker shall pay the cost of revenue stamps therefor. First Commerce shall pay the cost of recording said deed. j . Assignment . This Agreement may be assigned by First Commerce at its option. However, any assignment of this Option shall not relieve First Commerce of any liability hereunder. k. Expenses and Broker' s Fees . Each party agrees to bear its own legal and other costs and expenses incurred or to be incurred by it in negotiating and preparing and closing this Option. Each of the parties represents and warrants that no broker or other person is entitled to any commission or finder' s fee in connection with this transaction. l . Survival of Covenants . The representations, warranties, covenants and agreements herein shall survive the exercise of the Option and shall survive the closing. m. Default by Baker. If Baker is unable to convey title at the date of closing, the First Commerce shall have the right to either accept such title as Baker can convey or rescind the exercise of the Option and all monies paid by First Commerce shall be returned. If Baker is able but refuses to convey title at the date of closing, First Commerce may sue for specific performance of this Agreement . n. First Commerce' s Default . If First Commerce gives notice of the exercise of the Option, and shall then default under this Agreement, Baker shall have the option of suing for specific perfcrmance or of terminatincr, t'r�i� �grEement . Ii Baker elects to terminate this Agreement, Baker may at its option retain any sums previously paid by First Commerce as liquidated damages and, in such event, neither party shall have any further obligation to the other. o. Baker' s Covenants . The Baker represents and covenants that no work, labor, services or materials have been furnished or performed to or at the Property that will not be paid in full at or prior to closing, and that there are no violations of law or municipal ordinances affecting the Property. Until closing, Baker will maintain the lawn, will remove any snow from sidewalks and driveways, and will maintain the heating, central air conditioning, water heater, sewer, plumbing, electrical systems and any built-in appliances in working condition. p. Personal Property. Baker covenants and represents 3