Real Property Title Issues. Following the execution of this Agreement, the Buyer Parties will order or have ordered commitments (the “Commitments”) for such Title Insurance Policies (the “Policies”) from Chicago Title Insurance Company (the “Title Company”) and/or surveys (“Surveys”) from Xxxx Group with respect to such parcels of Real Property which the Buyer Parties shall deem necessary. Seller shall prior to Closing, and at its sole cost and expense, undertake all actions set forth on Schedule 5.11 (the “Title Actions”). With respect to those parcels of Real Property identified on Schedule 5.11 for which Commitments have not been obtained as of the date of this Agreement, Buyer shall use its best efforts to promptly obtain the results of Commitments and/or Surveys prior to Closing. Upon receipt of the results of such Commitments and/or Surveys, the Parties hereto shall use their best efforts to reach a mutually agreeable description of actions which the Seller shall take at its sole cost and expense to correct and address any title defects or issues identified by Commitments and/or Surveys (“Title Defect Corrections”). Upon such mutual agreement on the Title Defect Actions, such actions comprising the Title Defect Corrections shall become part of the Title Actions and shall be listed on Schedule 5.11. If the Parties are unable to mutually agree on the Title Defect Corrections, then the Buyer Parties shall have the option, in their sole discretion, to either: (a) waive the condition to Closing set forth in Section 7.1(s), or (b) terminate this Agreement. If Seller fails to perform all Title Actions prior to Closing, the Buyer Parties may perform such actions after Closing and all such actions undertaken by Buyer shall be at Seller’s sole cost and expense.
