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<br />2. In the event the VILLAGE elects to purchase said real <br />property, it shall signify such election within the nine (9) months <br />specified above by adopting a resolution within said time, declaring <br /> <br />that said option shall be executed, and by certifying copy of said <br /> <br />resoluti on and mailing to the McOONOUGHS at their address at <br /> <br />2261 St. Clair Avenue, Saint Paul, Ramsey County, Minnesota. <br /> <br />3. In the event the VILLAGE adopts a resolution stating <br /> <br />that it is exercising its right under the option to purchase said real <br />property, and certifies and mails copy of said resolution to the McDONOUGHS <br />as provided above, then the McDONOUGHS shall deliver to the VILLAGE <br />an Abstract or Abstracts of Title to the premises, and the VILLAGE shall <br /> <br /> <br />have twenty (20) days after the delivery of said Abstract or Abstracts <br /> <br /> <br />within which time to examine title and advise the McDONOUGHS with <br /> <br /> <br />respect to such examination. <br /> <br />4. If the title to said premises shall be found unmarketable <br /> <br /> <br />and can be made marketable within ninety (90) days after the report is <br /> <br /> <br />submitted to the McDONOUGHS, the VILlAGE shall be allowed fifteen (15) <br /> <br /> <br />days after it has been notified in writing of the correcting of such title <br /> <br /> <br />to complete the purchase. Ifl however., title is not marketable and <br /> <br /> <br />cannot be made marketable within ninety (90) days after submitt'ing said <br /> <br /> <br />report, then the sum of One Thousand Dollars ($1,000.00) shall be returned <br /> <br /> <br />to the VILLAGE and this agreement shall be in all things void, at the <br /> <br />election of the VILLAGE. <br /> <br /> <br />5. In the event the VILLAGE elects within the time aforesaid <br /> <br />to purchase said real property and the title thereto is" upon examination, <br /> <br /> <br />found to be marketable in the McDONOUGHS, or if found to be unmarketable, <br /> <br /> <br />thAn i!'; made marketable within the prescribed period of ninety (90) days, <br />