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<br />SECTION 7. Risk of Loss. Subject to the prop-~isions hereof, the risk of loss or damage to the
<br />Property occurring prior to Closing shall be borne by Seller. If the Property is damaged by fire, storm, wind
<br />or other casualtyr prior to Closing, Seller shall give prompt written notice thereof to Purchaser. This
<br />Agreement shall continue in effect nohvithstviding the occurrence of such casualty anti damage. and Seller
<br />shall proceed forthwith to complete construction of the Building and site improvements with the proceeds
<br />from all applicable casualty policies. Upon substantial completion, closing shall proceed as provided for
<br />herein except the date for Closing shall be adjusted for the rebuilding subsequent to casualts~. u,,.,.t,.,°°'- m°•°
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<br />SECTION 8. Eminent Domain and Assessments. Seller has not received any notice of any
<br />pending condemnation, assessment or similar proceeding or charge affecting the Real Property or any portion
<br />thereof and has no knowledge that any such proceeding or charge is contemplated. If Seller receives notice
<br />of the commencement or threatened commencement of eminent domain or assessment or other like
<br />proceedings against the Real Property or any portion thereof at any time betFVeen the Date of Agreement and
<br />the Closing Date, Seller shall immediately notify Purchaser in writing, and Purchaser shall elect within ten
<br />{10) days from and after such notice either: (a} to terminate this Agreernent~ in which case o~this
<br />Agreement shall terminate and be of no
<br />further farce and effect; or (b) to close the transaction contemplated by this Agreement in accordance with the
<br />terms hereof but subject to such proceedings, in which event the Purchase Price shall not be reduced and
<br />Seller shall assign to Purchaser all of Seller's rights in any condemnation award or proceeds. Purchaser shall
<br />deliver notice of its election to Seller in writing. If Purchaser does not make its election tivithin the aforesaid
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