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Mr. Hugh Hadley <br /> Page Two <br /> October 7, 1985 <br /> (g) Sellers represent that said land and buildings are not <br /> subject to any pending condemnation proceedings by any governmen- <br /> tal agency or any Code requiring fire sprinklers. <br /> (h) The Buyer shall be entitled to approve a preliminary <br /> title report covering the subject property prepared for Buyer <br /> by Central Valley Title Company. <br /> (i) Title to the subject property is to be free of all <br /> liens, encumbrances, easements, restrictions, rights and con- <br /> ditions of record or known to Seller other than: <br /> 1. Current known delinquent property taxes. <br /> 2. Covenants, conditions restrictions and <br /> public utility easements of record, if any, provided <br /> the same do not adversely affect the conditioned use <br /> of the subject property for the purposes for which <br /> Buyer intends to use the same to-wit: auto sales and <br /> leasing. <br /> 3. Sellers reserve all mineral rights below <br /> a depth of 500 feet below the surface. <br /> (j ) Escrow shall be opened by delivery of an executed <br /> duplicate original of this agreement to the described title <br /> company within five (5) days following Seller' s acceptance <br /> and shall provide for closing not later than 30 days there- <br /> after. Each party shall pay one-half of all escrow fees including <br /> the costs of a CLTA policy of title. insurance. Buyer shall pay <br /> costs of recording of deed. Seller shall pay cost of documentary <br /> transfer taxes. All real property taxes and rents and other <br /> assessments shall be prorated as of close of escrow. <br /> (k) Sellers shall forthwith provide to Buyer a copy <br /> of the existing lease and sublease on said premises in order that <br /> Buyer may inspect and approve the terms thereof. Buyer' s possession <br /> shall be subject to the existing lease to The Hertz Corporation <br /> dated December 1, 1982, and the sublease thereof to Richard <br /> Bendtsen dated December 14, 1984, all of which shall expire by <br /> ecember 2, 1985. All rental deposits shall be delivered <br /> o Buyer on close of escrow. <br /> Sellers represent that there are no other leases, <br /> rental agreements, options or purchase agreements which affect <br /> or encumber Sellers ' title to said property. <br /> a <br /> (1) Upon full execution of a written purchase agreement <br /> Buyer shall be entitled to enter the subject premises for the <br /> purpose of Buyer and Buyer' s agents examining the same: such <br />