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8 <br />to provide written notice of Buyer's disapproval of any title matter as shown in the title commitment (those <br />disapproved title matters as so identified by Buyer being hereinafter called the "Disapproved Exceptions"), <br />whereupon Seller shall have thirty (30) days to cure or remove such Disapproved Exception, provided that Seller <br />may elect to cure any Disapproved Exception that may be cured by the payment of money at Closing In the event <br />Seller elects, in its sole discretion, not to cure a Disapproved Exception, then Buyer may either (i) terminate this <br />Agreement by giving to Seller written notice of such election to teminate on or before ten (10) days from the date <br />on which Buyer receives written notice that Seller has elected that it will not cure a Disapproved Exception without <br />further claim or obligation of any kind to the Seller, or (ii) withdraw the Disapproved Exception and proceed to <br />close without any abatement in the Purchase Price. If Buyer does not elect by written notice between (i) and (ii) of <br />the immediately preceding sentence within ten (10) days of Buyer's receipt of Seller's written notice that it will not <br />cure a Disapproved Exception, then Buyer shall be deemed to have elected (ii). <br />6 ADDITIONAL AGREEMENTS OF THE PARTIES: <br />a) Risk of Loss - Insurance Policies: The risk of loss with respect to the Property prior to the <br />Closing shall be on Seller. Unless otherwise agreed to by the parties, if the Property suffers a casualty damage prior <br />to Closing that would cause the Seller to cease the conduct of its business on the Property as currently conducted for <br />a continuous period of one (1) week or longer, Buyer shall have the right to terminate this Agreement by written <br />notice to Seller. Between the date of this Agreement and the Closing, Seller shall keep all existing insurance <br />policies applicable to the Property in full force and effect <br />b) Eminent Domain: Notwithstanding anything to the contrary elsewhere in this Agreement, <br />including, without limitation, the expiration of the Investigation Period, if, prior to the Closing, all or any part of the <br />Property is taken by eminent domain or if condemnation proceedings are commenced, Buyer shall have the option, <br />by written notice to Seller, to terminate this Agreement. If Buyer does not elect to terminate this Agreement, it shall <br />remain in full force and effect, and Seller shall assign, transfer and set over to Buyer at the Closing all of Seller's <br />right, title and interest in any awards that may be made for such taking, <br />c) Seller's Covenant Against Waste and as to Operations: Consent and Monitoring as to <br />Maintenance: Between the date of this Agreement and through and including the date of Closing, Seller agrees not <br />to condmt waste upon the Property, or any portion thereof; and Seller warrants and covenants that the Property shall <br />remain in a condition similar to that which it was as of the date of this Agreement, reasonable wear and tear <br />excepted. <br />d) Representation and Warranties of Seller: In addition to any other warranty or representation of <br />Seller set forth in this Agreement, Seller hereby makes the following representations and warranties to Buyer: <br />W The land is now zoned High Intensity Commercial, which zoning permits the use of the <br />Property by Buyer for any governmental purpose To Seller's actual knowledge, there is no pending application for <br />changes in the zoning affecting the Property or any action, suit, proceeding, appeal or other litigation which might <br />affect such zoning. If Seller receives notice of any application for changes in the present zoning of the Property, <br />Seiler shall immediately notify Buyer of same, <br />(ii) To Seller's actual knowledge, the Property is free from any pending or proposed <br />assessments, <br />(iii) Seller has received no notice that there is a current violation of any applicable federal, <br />state or local law, ordinance, regulation, order, rule or requirement affecting the Property. <br />(iv) Seller has not received any notice from any city, county or other governmental authority <br />of any taking of the Property, or any portion thereof, by eminent domain; and, to Seller's actual knowledge, no such <br />taking of the Property, or any portion thereof, is threatened or contemplated <br />RALEIGHW54765 6