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11/30/2001 10:43 2094671111& AGE STOCKTON PAGE 04 11130/2001 10:12 209333OW 1.001 RECREATION . PAGE 04 object within the sev&,-('r) day period shall t)e deemed to be a disapproval of the Exceptions. (C) If any Exception is disapproved or deemed disapproved (each a "Disapproved Exception'), Sellers shall, within thirty(30) days fallowing expiration of the seven (7)day period provided under Section 8(c) above, use Mir best efforts to cause each Disapproved Exception to be discharged, satisfied, released, or terminated, as the case may be, Or Word, and in a form that Is reasonably satisfactory to Purchaser and Escrow Agent, all at Sellers'sole cost and expense. Sellers authorize Escrow Agent to disburse from the caah portion of the Purchase Price and proceeds otherwise dlsbursable to Sellers upon Closing the sum sufficient to discharge any Disapproved Exception that may be discharged only by the payment of money. If Sellers are unable to obtain a discharge, setisfac tion, release, or termination within the period specified above, Purchaser shall have the right to: (1) waive the Disapproved Exception and proceed with Closing, accepting Me to the Property subject to the Disapproved Exception,or (ii) terminate this Agreement, in which event Sellers shall pay all charges of the surveyor and Escrow Agent in connection with thle transaction; both Purchaser and Sellers shall be relieved of all further obligation and liability to each other under this Agreement and all the funds and documents deposited with Escrow Agent shall be promptly refunded or returned, as the babe 'may be, by Escrow Agent to the depositing party. (d) Purchaser shall approve the anticipated Excaption, if any, regarding the City of Lodi's °Notloo of Substandard Conditions and Pending Abatement* dated July 29, 1598 and any lien resulting therefrom on 17 East Elm Street, CLOSE 4E ESCROW (a) Title. Simultaneously with the Close of Escrow, Escrow Agent shall issue an ALTA Owner's Policy of Title Insurance. ("Title Poilcy°) in the amount of the purchase Price, subject only to the following mrattars ("Approved Exceptions': and (i) a peri for real property taxes, bonds, and assessments not then due; (ii) exceptions approved by purchaser. (b) Sellers' Deposita Into Escrow. Sellers shall deposit with Escrow Agent on or prior to the Close of Escrow the following documents: (1) A grant deed executed and acknowledged by Sellars convoying to Purchaser good and marketable fee simple title to the Property, subject only to the Approved Exception ("Deed"); 3