Assumed Existing Loan. Seller represents and warrants that the Assumed Existing Loan is the only loans secured by the Property which will remain in effect on and after the Closing Date and that the information contained on Exhibit I is true, correct and complete. At Closing, Buyer shall assume the Assumed Existing Loan encumbering the Property (the “Assumed Existing Loan”). In all other cases, Seller shall pay-off or defease any remaining loans at the Closing. Seller shall cooperate with Buyer (without incurring any expense other than with respect to any legal fees which may be incurred by Seller for Seller’s attorneys) in Buyer’s efforts related to the assumption of the Assumed Existing Loan. Buyer shall make application to the Lender no later than the end of the Review Period and if the Contract is not terminated prior to the end of the Review Period, Buyer shall use its commercially reasonable efforts to complete the assumption of the Assumed Existing Loan on or before the Closing Date, including any extensions. All costs associated with the assumption of the Assumed Existing Loan shall be borne by Buyer.