Loan Payoff. Seller and Buyer shall direct Escrowee (i) to pay off the loan evidenced and/or secured by the Loan Documents, in accordance with the payoff letter(s) deposited by Seller, with the funds deposited by Buyer pursuant to Section 11.3(e) above, and (ii) to satisfy or remove from the Title Policy the lien of the Loan Documents.
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Sources: Contribution Agreement (Presidio Golf Trust), Contribution Agreement (Presidio Golf Trust)
Loan Payoff. Seller and Buyer shall direct Escrowee (i) to pay off all of the loan evidenced and/or secured by the Loan Documents, in accordance with the payoff letter(s) deposited by Seller, with the funds deposited by Buyer pursuant to Section 11.3(e) above, and (ii) to satisfy or remove from the Title Policy the lien of the Loan Documents.
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