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� 99 10958i 5. TITLE AND POSSESSION. Seller agrees to deliver at Closing a general warranty deed, to the Property conveying to Buyer marketable title to the property, free and clear of all mortgages, deeds of trust, leases, encumbrances, liens, statutory rights, assessments, covenants, charges or adverse claims of any kind or character whatsoever, except for easements and restrictions of record that are acceptable to Buyer. Seller shall deliver possession of the Property to Buyer at the time of Closing. 6. TITLE INSURANCE . Seller shall furnish Buyer and its counsel with a commitment for an owner' s policy of title insurance in the amount of the real estate purchase price herein, which insures marketable title to the Property, subject only to the easements, restrictions and other matters of record that are acceptable to the Buyer. Written notice of any easement, restriction or other matter affecting title to the Property that is unacceptable to Buyer or its counsel shall be delivered to Seller within fourteen (14) days from receipt of the commitment. Written notice of any easement, restriction or other matter affecting title to the Property contained in the updated commitment that is unacceptable to Buyer shall be delivered to Seller within ten (10) days from receipt of such commitment. Seller shall have a reasonable period, not exceeding thirty (30) days, to cure any unacceptable easement, restriction or other matter affecting title to the Property. The premium for the Owner' s title insurance policy shall be paid one- half (1/2) by Seller and one-half (1/2) by Buyer. In the event Buyer desires a Lender' s title insurance policy, Buyer shall pay the full cost thereof. 7 . TAXES AND ASSESSMENTS. All taxes related to the Property for the year prior to closing, and all prior years shall be paid by Seller at or prior to closing. Any tax related to the Property for the year in which closing shall occur shall prorated to the date of Closing based on the most recent property valuation and the most recent mill levy. Seller shall pay all transfer taxes or similar fees which are payable upon the recording of the warranty deed from Seller to Buyer, including the documentary stamp tax. 8 . COSTS: The cost of the preparation of all documents and other related expenses in connection with the sale of the Property and the closing of the sale shall be paid by the respective parties as follows: A. Seller shall pay the documentary stamp tax, one-half of the expense for the owner' s title insurance premium, all expenses necessary to clear title, if any, and any filing or application fees associated with obtaining necessary zoning, land use regulation, licenses, and permits associated with satisfying the conditions herein. 3