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set forth in Section 10 hereof (the "Purchase Price"), payable in cash on the Closing Date, subject to an adjustment on the Closing Date for real estate taxes and assessments, with Developer being charged for them through the Closing Date. Section 2. Commission's Conditions Precedent to Closing. This Agreement and Commission's obligation to purchase the Acquired Property are expressly subject to and contingent upon the satisfactory transfer of title to the Acquired Property as set forth herein, and the fulfillment of the conditions precedent to Closing contained herein as follows: 1) the Commission obtaining within ten (10) days from the date of this Agreement, an ALTA Form B commitment for title insurance (the "Commitment") from the Title Company, showing fee simple marketable title tothe Acquired Property in Developer, subject only to easements, rights-of-way, and restrictions, if any, of record to which Commission has consented. Within'fifteen (15) days after receiving the Commitment, Commission shall provide Developer with written objections, if any, to title. Developer shall have until the Closing Date in which to obtain release of all title encumbrances to which Commission has not consented and to cure all objections. If Commission and Developer agree that if any title defect cannot reasonably be cured within the time specified, Developer shall have no obligation to try to cure the same and this~ Agreement shall be null and void unless Commission decides tolwaive such defect. Notwithstanding any other provisions of this Agreement, if the Title Company is unable to provide the Commitment within twenty (20) days after the date of this Agreement, all dates and deadlines shall be extended for a reasonable period from the delivery of the Commitment, up to, but in no event longer than, ten (10) additional days; (b) All of Developer's representations and warranties being true on the date hereof and remaining true through the Closing Date; (c) the Commission obtaining an outboundary survey of the Acquired Property and the Developer obtaining all subdivision and similar approvals necessary for the transfer of the Acquired Property, each in form and substance satisfactory to Commission on or before fifteen (15) days after the date of execution hereof; (d) the Commission obtaining before the Closing Date complete soil, water and/or other tests as to the condition (including, without limitation, environmental conditions) of the 'Acquired Property and the results of such tests being satisfactory, in the Commission's sole discretion, to the Commission; STL-6313 - 3 -