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Section 6. Title. Authority shall convey the Property <br />to Buyer by special warranty deed (the "Deed"). Authority shall <br />• furnish Buyer's counsel with a copy of the proposed Deed for <br />approval by Buyer's counsel on or before the date which is 7 days <br />before the closing. <br />Section 7. Conditions of Sale. The obligation of Buyer <br />to close under this Agreement is subject to the fulfillment of all <br />the following conditions (unless waived in writing by the Buyer): <br />7.1 Title to the Property shall be as provided in <br />Section 6 of this Agreement. Buyer will notify Authority of any <br />title defects at least 45 days prior to closing, and Authority <br />shall have until closing to cure any such defect. <br />7.2 Neither the Property nor any portion of the Property <br />shall, after the date of this Agreement, have been condemned or <br />taken pursuant to any governmental action or other exercise of the <br />power of eminent domain or shall, after the date of this Agreement, <br />be the subject of any condemnation or taking proceeding. If the <br />Property or any portion thereof is subject to any proceeding for <br />condemnation, taking or exercise of the power of eminent domain at <br />any time prior to the closing under this Agreement which materially <br />and adversely affects Buyer's planned development of the Property, <br />Buyer at its sole option may: <br />(1) proceed to the closing with no reduction <br />• in the Purchase Price for the area of the property <br />subject to such proceeding and, in such case, Authority <br />shall assign to Buyer all of the Authority's right, <br />title, and interest in and to any condemnation award or <br />damages; or <br />(2) terminate this Agreement by giving written <br />notice to Authority of its decision to do so, in which <br />event Authority shall return the earnest money deposit <br />and this Agreement shall terminate and neither party <br />shall have any further rights or obligations hereunder. <br />7.3 Authority's obligations described in Section 8 of <br />this Agreement shall have been fully satisfied. <br />7.4 In the event any of the foregoing conditions are not <br />fulfilled (through no fault of the party to be benefitted by such <br />condition) and are not waived, the earnest money deposit shall be <br />paid to the Buyer. The option payment shall be retained by <br />Authority; and each party shall be relieved from any further <br />liability under this Agreement. <br />0 Page 4 <br />