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02/17/99 11: 39 RYAN COMPANIES ~ 6124902931 512 631 5969 NO.460 P007/011 .' 62/17/1999 16:69 512-631-5969 PAGE 6G OTHER TERMS AND CONDmONS 9. Title Defects--I!, within the ten (10) day period following Seller's notice to Buyer that Seller's deed is ready fer delivery. Buyer notifies Seller that Buyer has requested evidence of title to the Property, Buyer shall furnish to SeUer at Buyer's expense such evidence of title within thirty (30) days of said notice aom Buyer in the form of an abstract of title or a tide conunitment, and a written Statcment specifying the matters or dc:fl:ct9 other than said pennitted exceptions and reservations and other than such usua1 exceptions contained in Owner's policies and the matters to which this sa1e Ls subjeet by the tenns hereof, the time of payment of the balance of tile purchase price: shan be extended for a period of sixty (60) days after the receipt of said evidence of titJe and statement. If Seller is unabJe or unwiUing to CW'e such matter or defects within said sixty (60) day period, and Buyer is unwilling to accept the deed subject to such matter or defects then either party lnay terminate this Agreement by serving written Dotice of termination upon the other party within fifteen (15) days thereafter and all further rights and liabilities under this Agreement shall cease and terminate except that Seller shaH return the deposit to Buyer and Seller shall reimburse Buyer for me aCTUal amount paid by Buyer~ if any. to an abstractor for an abstract of title or to a title company for a title:: I'q)ort (but not for title insl1r3.Dce). provided [hat said abstract or title report shall be delivered and assigned to Seller. Otherwisc. Buyer shallrcmit to SelJer. or Seller's assignee. the purchase price within ten (10) days or at closing, whichever is earlier. 10. Real Estate Commissions-If any real estate broker or agent can establish a valid claim for co1DJ11issioD or other compensation as a result of Buyer having used their services in connection with the purchase of the Propcrty. aU such commission or other compensanon shall be paid by Buyer. Seller shaH not be liable for any real estate commissions or finders fees to any parry with respect to the sale of the Property, except a commission to Catellus Management Corporation ("Broker") pursuant to a separate agreement On and prior to the Date of this Agreement. Broker has advised, a:nd hereby advises. Buyer. by this writing and by other means, and Buyer hereby acla10wledges that Buyer has been so advised, thaI the Broker is acting as the agent of the SeUer. with the duty to represent Seller's interest. and Broker j~ not the agent of the Buyer. If a policy of title insurance is to be obtained, Buyer should obtain a commitment for title insurance which should be examined prior to closing by an attomey of Buyer's choice. Prior to the execution of this Agree:men~ Broker has advised and hereby advises the pri.ncipaJs of this transaction, that this Agreement is binding on them. and the principals hereby Kknowledge that they have been so advised. 1 J. Liens of Seller's Mortgages-Seller shall deliver to Buyer. who shaII place of r~ord, good and sufficient relcases of the liens of Seller's mortgages. where required under the terms of any mongage on the Property, within one hundred eighty (180) days after the first meeting of Sellet's Board of Directors held after the conveyance contemplated herem. In the event Seller shall be unable to obtain said releases for any reason. Seller shall have the right to ter.minate this Agr-eement upon serving written notice of termination upon Buyer withm fifteen (15) days thereafter, and both parties shall thereupon be released and discharged from an liabilities and obligations hereunder. except that Seller shaH repay to Buyer any and aU sums therefore paid by Buyer to Seller upon a reconveyance of title to the Property to Seller free and clear of defects or objectiot15 to the same extent as ifno conveyance had been made to Buyer hereunder. 12, Other Liens--Any judgmerll against Seller which may appeal' of record as a lien against the Property shall be settled and satisfied by Seller if and when it is judicially determined to be valid. and Seller hereby 3