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<br />Title. Seller shall, within 15 days of the date of this Agreement, furnish an abstract of <br /> <br />title certified to date or registered property abstract to include proper searches covering levied <br /> <br />pending and deferred assessments, bankruptcies and state and federal judgments and liens. <br /> <br />Buyer shall be allowed 15 days after receipt thereof for examination of said title and the making <br /> <br />of any objections thereto, said objections to be made in writing or deemed to be waived. If any <br /> <br />objections are so made, Seller shall be allowed 30 days to make such title marketable. Pending <br /> <br />correction of title, any option fee payment required shall be postponed, but upon correction of <br /> <br />title and within 10 days after written notice thereof, Buyer shall perform this Option according to <br /> <br />its terms. <br /> <br />Street and Easement Vacation. As described in the preliminary plat, Seller shall vacate <br /> <br /> <br />the easements within Lots 4,5,6 and 8 through 15, Block 1, Zeece Addition, according to the <br /> <br /> <br />recorded plat thereof; and, vacate that portion of Albemarle Court, as dedicated in Zeece <br /> <br /> <br />Addition, Ramsey County, Minnesota, lying south of the easterly extension of the north line of <br /> <br />Lot 4, Block 1, of said Zeece Addition. <br /> <br /> <br />Development A~eement. Seller and Buyer shall enter into a development agreement <br /> <br />which shall contain such reasonable mutually agreeable terms and conditions. The Seller shall <br /> <br />specifically provide in the development agreement that prior to Buyer exercising this Option, <br /> <br />Buyer shall be allowed to commence construction of twin home buildings on each ofthe <br /> <br />following currently described.lots: 13, 14 and 15, Block 1, Zeece Addition, according to the <br /> <br /> <br />recorded to the recorded plat thereof. <br /> <br />Real Estate Taxes and Assessments. During the term of this Option, Seller agrees to pay all <br /> <br />of the real estate taxes and assessments. <br /> <br />3 <br />