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<br />8. TITLE DEFECTS. If for any reason the Owner cannot deliver title at Closing as <br />required by Paragraph 5 of this Option, the Optionee may elect to a) accept the <br />Property with title as is; b) refuse to accept the Property; or c) allow the Owner <br />additional time to pursue reasonable efforts to correct the problem, including bringing <br />any necessary quiet title actions or other lawsuits. <br />9. FIXTURES. Unless otherwise agreed to in writing, all trees, shrubbery and plants <br />and all fixtures attached to the land or improvements, including, but not limited to, <br />plumbing, heating, lighting fixtures, and all existing appurtenances, are included in <br />this sale, and shall, upon Closing be considered the property of the Optionee, and its <br />successors and assigns. The Owner hereby warrants and represents that Owner is <br />the lawful Owner of said fixtures and appurtenances, and that said fixtures are free <br />and clear of all liens and encumbrances. <br />10. DOCUMENTS FOR CLOSING. The Owner shall execute and deliver at Closing a <br />General Warranty Deed, any .Owner's affidavits or documents required by a title <br />insurance company to remove the standard title policy exceptions, and any other <br />documents necessary to close in accordance with the terms of this Option. These <br />documents will be prepared at the expense of the Optionee. <br />11. PROPERTY TAXES. Any delinquent real estate taxes and all levied assessments <br />are the Owner's responsibility and should be satisfied of record by the Owner at or <br />before Closing. Any deferred taxes on the Property, which become due as a result of <br />this conveyance, shall be the responsibility of the Owner. Any real estate taxes for <br />the year in which the transaction is closed .shall be prorated between Owner and <br />Optionee as of the date of Closing. <br />12. MISCELLANEOUS CLOSING EXPENSES. The Owner will pay any <br />documentary stamp tax, real estate transfer fee or any similar charge due upon <br />conveyance of title to the Optionee. The Optionee will pay recording fees. <br />13. POSSESSION. The Owner will deliver possession of the Property to the Optionee <br />at Closing subject to no leases, mortgages, liens or other reserved rights, and in the <br />condition set forth below in Paragraph 12. <br />1~4. PROPERTY USE. Upon transfer of title to Optionee, all of the Property shall be <br />placed _ under a conservation easement in the form attached as Exhibit B <br />("Conservation Easement"). The use of the Property- will thereafter be restricted by <br />the terms of the Conservation Easement. The Property will continue to be known as <br />the Dallas Branch Nature Preserve. The Owner shall reserve for itself the right to <br />access the Property for educational purposes. Said right of access will be subject to <br />the terms of the Conservation Easement. <br />15. CONDITION OF PROPERTY/ RISK OF LOSS. The Owner shall not transfer or <br />encumber any interests in the Property prior to Closing. The Owner shall remove all <br />rubbish or trash including any hazardous or harmful chemical substances, from the <br />Property prior to Closing but shall otherwise keep the Property in its current condition <br />