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200212607 9 Costs. GRANTOR shall pay one -half (1/2) of the cost of Litle insurance or of title to a current dace; drafting the Deed of Conveyance and Real Estate Transfer Statement; documentary tax; one -half (1/2) the costs of closing; and all expense of any title curative work. GRANTEE shall pay one -calf (1/2) the cost of title insurance, if elected; costs of examination of Commitment for Title Insurance; any legal or other fees it may incur in examination of documents or negotiations with GRANTOR or GRANTOR's lawyer regarding the Option, exercise of the Option, or closing; one -half (1/2) the cost of closing; expense of recording the Deed of Reconveyance; and cost of drafting this Option. 10. Default. Unless the par--ies mutually agree to a different date or method of payment, if GRANTOR is prepared to deliver the Deed of Conveyance as provided in "(4)" hereof on or befcre 55 days a`_ter GRANTEE exercises the Option, and GRANTEE _ails to make the payment due 45 days after the date GRANTEE exercises the Option, GRANTEE shall pay interest on the principal balance due from the date of exercise of the Option at the rate of Seven Percent (7 %) per annum to the date GRANTEE pays the balance of the purchase price. If, however, GRANTEE has failed to pay the balance of the purchase price on or before 75 days after the date of exercise of the Option, ail sums due hereunder shall bear interest at the rate of 10% per annum from the date of exercise of the Option until paid. In addition, if GRANTEE has failed to pay the balance of the purchase price on or before 75 days after the date of exercise of the Option, in the absence of mutual agreement to the contrary, GRANTOR, at his option, may: (a) Declare the exercise of the Option to be void and of no further effect, and retain the payment made at the time of exercise of the Option as liquidated damages, the parties agreeing that it is difficult, if not impossible, to calculate the damages GRANTOR might suffer if GRANTEE defaults in performance; or (b) Declare all sums unpaid immediately due and payable, and sue GRANTEE for recovery thereof at law; or Declare all sums unpaid immediately dne and payable, and bring action against GRANTEE for damages sustained by GRANTOR because of GRANTEE's default; or (d) Declare all sums unpaid immediately due and payable, and seek specific performance of this Agreement; or Declare all sums unsaid immediately due and payable, and seek judicial foreclosure of GRANTEE's rights under this Option; or (f; Exercise any other remedy to which GRANTOR may be entitled at law or equity. -3-