ARE VOLUNTARY LIENS.
"VOLUNTARY LIENS" AS USED HEREIN SHALL
MEAN (X) UNPAID REAL ESTATE TAXES, ASSESSMENTS AND WATER AND SEWER CHARGES WITH
RESPECT TO THE PROPERTY WHICH ARE DUE AND PAYABLE AS OF THE CLOSING DATE, AND
(Y) LIENS AND OTHER ENCUMBRANCES (OTHER THAN PERMITTED EXCEPTIONS) WHICH SELLER
HAS AFFIRMATIVELY PLACED ON THE PROPERTY, INCLUDING WITHOUT LIMITATION, LIENS OF
ANY MORTGAGES AFFECTING ALL OR ANY PORTION OF THE PROPERTY, MECHANICS' LIENS
THAT ARISE FROM SELLER'S ACTS OR OMISSIONS, JUDGMENTS, AND FEDERAL, STATE AND
MUNICIPAL TAX LIENS.
FURTHERMORE, AT CLOSING, SELLER SHALL PAY ALL VIOLATIONS
THAT HAVE BEEN REDUCED TO A MONETARY AMOUNT AND ALL FINES AND PENALTIES ASSESSED
AGAINST THE PROPERTY FOR VIOLATIONS OF RECORD AS OF THE CLOSING DATE, PROVIDED
THAT WITH RESPECT TO SUCH VIOLATIONS, IN NO EVENT SHALL SELLER BE OBLIGATED TO
EXPEND AMOUNTS IN EXCESS OF $100,000, IN AGGREGATE.
"VIOLATIONS" AS USED HEREIN
SHALL MEAN ANY AND ALL NOTES OR NOTICES OF VIOLATIONS OF LAW, OR MUNICIPAL
ORDINANCES, ORDERS, DESIGNATIONS OR REQUIREMENTS WHATSOEVER NOTED IN OR ISSUED
BY ANY GOVERNMENTAL AUTHORITY HAVING JURISDICTION OVER THE PROPERTY.
(D)
IF SELLER SHALL HAVE ADJOURNED THE SCHEDULED CLOSING DATE IN
ORDER TO CURE TITLE OBJECTIONS IN ACCORDANCE WITH THE PROVISIONS OF THIS SECTION
6, SELLER SHALL, UPON THE SATISFACTORY CURE THEREOF, PROMPTLY RESCHEDULE THE
SCHEDULED CLOSING DATE, UPON AT LEAST FIVE (5) BUSINESS DAYS' PRIOR NOTICE TO
PURCHASER (THE "NEW CLOSING NOTICE"); IT BEING AGREED, HOWEVER, THAT IF ANY
MATTERS WHICH ARE TITLE OBJECTIONS ARISE BETWEEN THE DATE THE NEW CLOSING NOTICE
IS GIVEN AND THE RESCHEDULED SCHEDULED CLOSING DATE, SELLER MAY AGAIN ADJOURN
THE CLOSING FOR A REASONABLE PERIOD OR PERIODS, IN ORDER TO ATTEMPT TO CAUSE
SUCH EXCEPTIONS TO BE ELIMINATED BY SENDING PURCHASER A TITLE CURE NOTICE, IT
BEING AGREED, HOWEVER, THAT SELLER SHALL NOT BE ENTITLED TO ADJOURN THE NEW
SCHEDULED CLOSING DATE PURSUANT TO THIS SECTION 6(D) FOR A PERIOD OR PERIODS IN
EXCESS OF THIRTY (30) DAYS IN THE AGGREGATE.
(E)
IF THE COMMITMENT DISCLOSES JUDGMENTS, BANKRUPTCIES OR OTHER
RETURNS AGAINST OTHER PERSONS HAVING NAMES THE SAME AS OR SIMILAR TO THAT OF
SELLER, ON REQUEST SELLER SHALL DELIVER TO THE TITLE COMPANY AFFIDAVITS (IN
ORDINARY AND CUSTOMARY FORM) SHOWING THAT SUCH JUDGMENTS, BANKRUPTCIES OR OTHER
RETURNS ARE NOT AGAINST SELLER IN ORDER TO INDUCE THE TITLE COMPANY TO OMIT
EXCEPTIONS WITH RESPECT TO SUCH JUDGMENTS, BANKRUPTCIES OR OTHER RETURNS OR TO
INSURE OVER SAME.
IN ADDITION, SELLER SHALL DELIVER TO THE TITLE COMPANY ALL
CUSTOMARY AFFIDAVITS, REASONABLY ACCEPTABLE TO SELLER, REQUIRED TO OMIT
(I) EXCEPTIONS WITH RESPECT TO MUNICIPAL EMERGENCY REPAIRS, (II) EXCEPTIONS WITH
RESPECT TO (A) RETROACTIVE STREET VAULT CHARGES, TOGETHER WITH INTEREST AND
PENALTIES THEREON, AND (B) WORK DONE BY THE CITY OF NEW YORK UPON THE PREMISES
OR ANY DEMAND MADE BY THE CITY OF NEW YORK FOR ANY SUCH WORK THAT MAY RESULT IN
CHARGES BY THE NEW YORK CITY DEPARTMENT OF ENVIRONMENTAL PROTECTION FOR WATER
TAP CLOSINGS OR ANY RELATED WORK, (III) EXCEPTIONS WITH RESPECT TO FEES