ITEM (F) SHALL NOT BE LISTED
AS A PERMITTED EXCEPTION IN THE SPECIAL WARRANTY DEED;
(G)
ALL LIENS, ENCUMBRANCES AND GOVERNMENTAL OBLIGATIONS THAT EITHER AFFECT
SOLELY THE PROPERTY OF A TENANT UNDER A LEASE OR ARE THE OBLIGATION OF A TENANT
TO DISCHARGE, CURE OR COMPLY WITH PURSUANT TO THE TERMS OF ITS LEASE, PROVIDED
THAT THIS ITEM (G) SHALL NOT BE LISTED AS A PERMITTED EXCEPTION IN THE SPECIAL
WARRANTY DEED;
(H)
INTENTIONALLY OMITTED;
(I)
ALL TITLE OBJECTIONS (AS DEFINED BELOW) APPROVED OR DEEMED APPROVED BY
BUYER PURSUANT TO SECTION 3.3 BELOW; AND
(J)
AS TO THE PROPERTIES IN THE MARK CENTER PORTFOLIO, ANY CURRENT AND FUTURE
BURDENS AND REQUIREMENTS, FINANCIAL OR OTHERWISE, ARISING FROM OR IN RELATION TO
ANY TRANSPORTATION MANAGEMENT PLAN APPLICABLE WITH RESPECT TO THE PROPERTY, AS
SUCH TRANSPORTATION MANAGEMENT PLAN MAY BE FROM TIME TO TIME AMENDED (THE
"TMP"), PROVIDED THAT THIS ITEM (J) SHALL NOT BE LISTED AS A PERMITTED EXCEPTION
IN THE SPECIAL WARRANTY DEED, EXCEPT TO THE EXTENT APPEARING ON THE PRELIMINARY
TITLE REPORTS.
8
SECTION 3.2.
TITLE REPORTS.
BUYER ACKNOWLEDGES THAT IT HAS RECEIVED
COPIES OF, AND, SUBJECT TO SECTION 7.2, APPROVES ALL DOCUMENTS RELATING TO
PERMITTED ENCUMBRANCES REFERRED TO IN THE PRELIMINARY TITLE REPORTS AND ALL
OTHER DOCUMENTS EVIDENCING OR RELATING TO MATTERS REFLECTED IN THE PRELIMINARY
TITLE REPORTS.
BUYER WILL PURCHASE FROM THE TITLE COMPANY AN OWNER'S TITLE
INSURANCE POLICY FOR EACH INDIVIDUAL PROPERTY INSURING BUYER IN THE AMOUNT OF
THE PURCHASE PRICE ALLOCABLE TO SUCH PROPERTY ("TITLE POLICIES").
IN ADDITION,
BUYER MAY ELECT TO PURCHASE CUSTOMARY ENDORSEMENTS TO THE TITLE POLICIES,
PROVIDED, HOWEVER, THE AVAILABILITY OF ANY ENDORSEMENTS SHALL NOT BE A CONDITION
TO THE CLOSING OR A BASIS FOR A DELAY OR EXTENSION OF THE CLOSING.
BUYER
ACKNOWLEDGES AND AGREES THAT, EXCEPT FOR THE WARRANTY IN THE SPECIAL WARRANTY
DEEDS AND OTHER SELLER'S DOCUMENTS DELIVERED TO BUYER AT CLOSING, AND ANY
EXPRESS WARRANTY IN THIS AGREEMENT, SELLERS MAKE NO REPRESENTATION OR WARRANTY
REGARDING THE CONDITION OF TITLE TO THE PROPERTIES.
NOTWITHSTANDING ANYTHING TO
THE CONTRARY SET FORTH HEREIN, ATTACHED HERETO AS EXHIBIT GG IS A LIST OF TITLE
QUESTIONS RAISED BY BUYER (THE "TITLE QUESTIONS").
BUYER AND SELLERS
ACKNOWLEDGE AND AGREE THAT SUCH TITLE QUESTIONS ARE NEITHER DEEMED TO BE, NOR
PRECLUDED FROM QUALIFYING AS, TITLE OBJECTIONS PURSUANT TO SECTION 3.3 BELOW.
SECTION 3.3.
TITLE OBJECTIONS.
IF ANY REVISION OR UPDATE OF ANY
PRELIMINARY TITLE REPORT OR SURVEY DISCLOSES EXCEPTIONS TO TITLE OTHER THAN
PERMITTED ENCUMBRANCES SHOWN IN THE PRELIMINARY TITLE REPORT, OR SURVEY RECEIVED
DURING THE STUDY PERIOD, THAT WOULD CAUSE TITLE TO AN INDIVIDUAL PROPERTY TO BE
UNINSURABLE OR WOULD RENDER TITLE UNMARKETABLE OR CONSTITUTE A MONETARY LIEN OR
JUDGMENT ON A PROPERTY, OR ENCUMBERS A PROPERTY MATERIALLY AND ADVERSELY (THE
FOREGOING, COLLECTIVELY, THE "TITLE OBJECTIONS"), BUYER SHALL SO NOTIFY THE
SELLER OF THE PARTICULAR PROPERTY TO WHICH SUCH TITLE OBJECTION RELATES
("BUYER'S OBJECTION NOTICE"): (A) ON OR BEFORE THE FIFTH (5TH) BUSINESS DAY
AFTER RECEIPT OF ANY REVISION OR UPDATE IF RECEIVED BY