Title and Survey. As of the Effective Date, Seller has caused the Title Agent to deliver to Purchaser a 2021 ALTA Form Commitment (“Title Commitment”) for an owner's title insurance policy (“Title Policy”) issued by the Title Company in an amount no less than the Purchase Price, together with all exception documents referenced in [Schedule B], Part II of the Title Commitment. The Title Commitment shall evidence that Seller is vested with fee simple title to the Land and that upon the execution, delivery and recordation of the Deed to be delivered at the Closing provided for hereunder and the satisfaction of all requirements specified in [Schedule B], Part I of the Title Commitment, Purchaser shall acquire fee simple title to the Land, subject only to the Permitted Exceptions.

Title and Survey. Copies of ​’s most current title insurance information and surveys of the Properties;

Satisfactory Title; Survey Update. The Building Loan Mortgage shall constitute a valid first Lien on the Property for the full amount of the Building Loan advanced to and including the date of the applicable Additional Advance, free and clear of all Liens except for Permitted Encumbrances. ​ shall have been furnished with a notice of title continuation or an endorsement to the Title Insurance Policy issued to ​ in connection with the Initial Additional Advance of the Loan, which continuation or endorsement shall increase the coverage of the Title Insurance Policy by the amount of the Additional Advance through the pending disbursement clause (but not the overall policy amount which shall be for the full amount of the Building Loan), amend the effective date of the Title Insurance Policy to the date of such Additional Advance, continue to insure the Lien of the Building Loan Mortgage subject to no Liens or encumbrances other than the Permitted Encumbrances and which shall state that since the last disbursement of the Loan there have been no changes in the state of title to the Property (other than Permitted Encumbrances) and that there are no additional survey exceptions not previously approved by ​. ​ shall also cause to be delivered to ​ a boundary line Survey (if not previously delivered in connection with the Initial Additional Advance) and inspection report of the Property dated within thirty (30) days after the foundations to the Improvements are set and prior to the date of the first advance of the Building Loan proceeds after the foundations are set, prepared in accordance with ​’s survey requirements, certified by a land surveyor registered as such in the State in which the Property is located, which Survey shall be in form and substance satisfactory to ​.

Survey. To the knowledge of ​, the Survey for the Property delivered to ​ in connection with this Agreement does not fail to reflect any material matter affecting the Property or the title thereto.

Final Survey. ​ shall have furnished to ​ a Final Survey.

“Final Survey” shall mean a final survey, certified (by a land surveyor registered as such in the State) to ​, and its successors and assigns, and the Title Company, which survey shall comply with ​’s survey requirements and shall otherwise be acceptable to ​ and the Title Company and show the as‑built location of the completed Improvements (all of which shall be within lot lines of the Land and in compliance with all set‑back requirements) and all easements appurtenant thereto.

-D Survey Costs The cost of the 3-D Survey (including a contingency) is estimated to be ​ (the “3-D Cost”) After acquiring the test line as provided for in the Seismic Acquisition Agreement, the Parties shall use the Data to reevaluate the cost estimate of the 3-D Survey If such reevaluated cost is greater than the estimated 3-D Cost, the Parties shall reduce the size of the 3-D Survey or pursue other alternatives, so not to exceed the estimated 3-D Cost Notwithstanding the foregoing, if the actual costs of the 3-D Survey exceed the 3-D Cost, any excess costs shall be borne by the Buyer, to the extent of the Buyer Working Interest and by the Seller, to the extent of the Seller Working Interest

an ALTA survey or existing survey together with a no change affidavit of such Mortgaged Property, sufficient for the title insurance company to remove the standard survey exception and issue related endorsements and otherwise reasonably satisfactory to the Administrative ​ (if reasonably requested by the Administrative ​); and

2.3Title and Survey Defects. Purchaser may obtain a survey of the Land or an update to Seller’s existing survey for the Land. Purchaser shall furnish to Seller, on or before expiration of the Due Diligence Period (defined below), a copy of Purchaser’s title report and survey, together with a statement specifying any defects in title or survey (collectively, “Title Objections”) which are not Permitted Exceptions (“Purchaser’s Statement”). If Purchaser does not submit such title report, survey and Purchaser’s Statement to Seller on or before such date, then Purchaser shall be deemed to waive the right to raise any Title Objections. Seller shall notify Purchaser within five (5) days after receipt of Purchaser’s Statement whether Seller will remove or cure the Title Objections listed in Purchaser’s Statement. Purchaser agrees that Seller shall have no obligation to remove or cure such Title Objections or to incur any cost or expense in connection therewith. If Seller does not agree within such five (5) day period to remove or cure any such Title Objections, then Seller shall be deemed to have elected not to remove or cure such Title Objections. If Seller elects (or is deemed to elect) not to remove or cure such Title Objections, then Purchaser shall have the right, upon notice delivered to Seller and the Escrow Agent within five (5) days after the expiration of the five (5) day period set forth above, either to # waive such Title Objections and close title without abatement or reduction of the Purchase Price, or # terminate this Agreement. If Purchaser fails to terminate this Agreement within such five (5) day period, then Purchaser shall be deemed to waive any Title Objections which Seller has not agreed to remove. If this Agreement is terminated pursuant to this [Section 2.3], except as expressly provided herein, neither party shall have any further liability to the other hereunder.

Title. Borrowers shall have provided the Bank with evidence satisfactory to the Bank and its legal counsel that Borrowers have valid, defensible title to the Collateral, including (without limitation) title reports, title opinions (division order or otherwise regarding the Mortgaged Property) and such evidence as shall be reasonably required by the Bank pertaining to all of the existing Mortgaged Property evidencing transfer of lawful title thereto to Borrowers, on behalf and for Borrowers with all equitable interests therein fully vested in Borrowers for all purposes.