EACH PARCEL COMPRISING THE PROPERTIES, AND THE GRANTEE'S RIGHTS SET FORTH IN
THE EASEMENTS UPON WHICH THE GAS FEEDER LINE IS SITUATED,
IN AN AMOUNT SET
FORTH IN SCHEDULE 6.01 AND SUBJECT ONLY TO, (A) PERMITTED EXCEPTIONS, (B) SUCH
OTHER MINOR ENCUMBRANCES OR IMPERFECTIONS, IF ANY, WHICH ARE NOT SUBSTANTIAL IN
NATURE OR AMOUNT AND WHICH DO NOT DETRACT FROM THE VALUE OR UTILITY OF THE
PURCHASED ASSETS; AND (C) SUCH OTHER MATTERS AS ARE DISCLOSED IN SCHEDULE 6.01
OR CONSENTED TO IN WRITING BY THE PURCHASER, INCLUDING THE MICROWAVE TOWER AND
SUBSTATION EASEMENT AGREEMENT (CLAUSES (A), (B) AND (C) ARE COLLECTIVELY
REFERRED TO AS "PERMITTED REAL ESTATE EXCEPTIONS"), TOGETHER WITH A TRUE,
CORRECT, AND LEGIBLE COPY OF EACH DOCUMENT REFERRED TO IN THE COMMITMENT; AND
(II) GUARANTEE THAT EACH SUCH PARCEL OF REAL ESTATE ADJOINS A PUBLIC ROAD OR
HIGHWAY AND THAT ENTRANCE TO AND EXIT FROM SUCH PREMISES MAY BE HAD VIA SUCH
PUBLIC ROAD OR HIGHWAY; AND
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(B)
A CURRENT AS-BUILT SURVEY AND METES AND BOUNDS DESCRIPTION OF THE
PROPERTIES PREPARED BY A REGISTERED LAND SURVEYOR OR ENGINEER, DULY LICENSED IN
THE APPLICABLE STATE (I) IN ACCORDANCE WITH THE "MINIMUM STANDARD DETAIL
REQUIREMENTS FOR ALTA/ACSM LAND TITLE SURVEYS", JOINTLY ESTABLISHED AND ADOPTED
BY ALTA, ACSM AND NSPS IN 1999, AND INCLUDING ITEMS 1-4, 6, 7(A), 8-10, 11(A)
AND (B), AND 14-16 OF TABLE A THEREOF, AND (II) PURSUANT TO THE ACCURACY
STANDARDS (AS ADOPTED BY ALTA, NSPS AND ACSM AND IN EFFECT ON THE DATE THEREOF),
WITH SURVEY MEASUREMENTS MADE IN ACCORDANCE WITH THE "MINIMUM ANGLE DISTANCE AND
CLOSURE REQUIREMENTS FOR SURVEY MEASUREMENTS WHICH CONTROL LAND BOUNDARIES FOR
ALTA/ACSM LAND TITLE SURVEYS" (THE "SURVEY").
(C)
NO LATER THAN FIFTEEN (15) DAYS AFTER PURCHASER HAS RECEIVED THE
LAST OF THE TITLE REPORT AND COMMITMENT (AND COPIES OF REFERENCED DOCUMENTS) AND
THE SURVEY, PURCHASER SHALL PROVIDE A WRITTEN NOTICE ("OBJECTION NOTICE") TO
SELLER OF ANY MATERIAL DEFECTS OR EXCEPTIONS DISCLOSED BY THE COMMITMENT, ANY
SECURED TRANSACTION SEARCH UNDERTAKEN BY PURCHASER, OR SURVEY THAT IS NOT A
PERMITTED REAL ESTATE EXCEPTION.
PURCHASER SHALL BE DEEMED TO HAVE ACCEPTED ALL
DEFECTS AND EXCEPTIONS DISCLOSED BY THE COMMITMENT, ANY SECURED TRANSACTION
SEARCH UNDERTAKEN BY PURCHASER, AND SURVEY TO WHICH PURCHASER DOES NOT OBJECT IN
A TIMELY OBJECTION NOTICE, AND SUCH ACCEPTED DEFECTS AND EXCEPTIONS SHALL BE
DEEMED TO BE PERMITTED REAL ESTATE EXCEPTIONS HEREUNDER.
SELLER SHALL HAVE
THIRTY (30) DAYS (THE "CURE PERIOD") FROM RECEIPT OF THE OBJECTION NOTICE TO
CURE ANY DEFECT OR EXCEPTION WHICH IS THE SUBJECT OF AN OBJECTION NOTICE,
FAILING WHICH PURCHASER SHALL HAVE THE OPTION TO EITHER (I) TERMINATE THIS
AGREEMENT AS PROVIDED IN SECTION 11.01 BY GIVING WRITTEN NOTICE TO SELLER NO
LATER THAN FIFTEEN (15) DAYS FOLLOWING THE EXPIRATION OF THE CURE PERIOD OR (II)
BE DEEMED TO HAVE ACCEPTED THE PROPERTIES SUBJECT TO ALL SUCH UNCURED DEFECTS
AND EXCEPTIONS DISCLOSED BY THE COMMITMENT, ANY SECURED TRANSACTION SEARCH
UNDERTAKEN BY THE PURCHASER, OR SURVEY, ALL OF WHICH SHALL BE PERMITTED REAL
ESTATE EXCEPTIONS