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. . . 5.1 Marketabilitv. On or before the Closing Date, Buyer shall have received from Title an irrevocable commitment to issue an owner's title insurance policy for the Property showing fee and marketable title in Seller containing such endorsements as determined by Buyer and otherwise in a form satisfactory to Buyer, in Buyer's sole discretion, and not disclosing any encumbrance not acceptable to Buyer in Buyer's sole discretion, except for the Permitted Encumbrances described in Section 83. Buyer does not, by its execution: hereof, waive any right to exercise this candition on account of any Permitted Encumbrance or other encumbrance or other mattel' of which it has knowledge as of the date hereof. Buyer is the benefitted party to this contingency. 5.2 Survey. On or before One Hundred and Twenty (120) days from the Execution Date, Buyer (a) shall obtain an AL T A survey bearing the legal description of the Initial Property and the Property, and showing the area, dimensions. and location of the Property, the topography, the location of all available utilities, the location of all improvements and encroachments, the location of any recorded easements, which survey shall be prepared at Buyer's expense; and (b) shall have satisfied itself, in its sole discretion, that the survey does not disclose any condition rendering the Property unusable as a 24-hour "Holiday Stationstore" with a car wash ("Proposed Use"). Buyer is the benefitted party to this contingency. 5.3 TestinQ, On or before One Hundred and Twenty (120) days from the Execution Date, Buyer shall have detelcmined, in its sole discretion and at Buyer's expense, that it is satisfied with (a) the results of and matters disclosed by soil tests, engineering inspections, hazardous substance and environmental reviews of the Property, including that the Property is (1) free from Hazardous Substances; and (2) sufficient for the Proposed Use, including grades, elevations and compactions; and (b) all other inspections and due diligence regarding the Property. Buyer is the benefitted party to this contingency. 5.4 Utilities. On or before One Hundred and Twenty (120) days from the Execution Date, Buyer shall have satisfied itself, in Buyer's sole discretion, that water and gas mains, electric power lines, sanitary and storm sewers and other utilities are available to the Property and adequate for the Proposed Use. Buyer is the benefitted party to this contingency. 5.5 Approvals. On or before One Hundred and Eighty (180) days from the Execution Date, Buyer shall have obtained, at Buyer's expense, all appropriate approvals and permits necessary, in Buyer's sole discretion, for the Proposed Use, which approvals may include, without limitation, appropriate zoning, subdivision pursuant to Section 10, platting, conditional use permits, curbcut and other access permits, signage permits, building permi~ts, required licenses and site plan approval and architectural approval. Buyer agrees to proceed diligently and Seller agrees to cooperate. Buyer is the benefitted party to this contingency. Purchase Agreement 3.doc 3