Purchaser Permitted Exceptions. During the Due Diligence Period, Purchaser shall review title to the Property as disclosed in the Title Commitment and Survey, and Purchaser may deliver to Seller any objections Purchaser has to the Title Commitment and Seller shall, within ten (10) days following such notice, advise Purchaser of Seller’s intent to remedy any such objections. In the event Seller advises Purchaser that Seller is not willing to remedy any of the objections, then Purchaser may (i) terminate this Agreement by giving written notice to Seller and Escrow Agent prior to expiration of the Due Diligence Period; or (ii) proceed to Closing and in such case, said objections shall become part of the Permitted Exceptions (as hereinafter defined). If Purchaser is dissatisfied with the status of the Property’s title for any reason prior to the end of the Due Diligence Period, Purchaser may terminate this Agreement and Escrow Agent shall immediately, without further instructions or directions from any party hereto, return the Escrow Deposit to Purchaser. Seller shall convey the Property to Purchaser subject only to the Permitted Exceptions and free and clear of any monetary liens and encumbrances, which monetary liens Seller shall cause to be released at Closing. Notwithstanding any language herein to the contrary, if any monetary lien (including, but not limited to, mechanic’s liens or liens for delinquent unpaid taxes and assessments) is not released by Seller prior to Closing, then a portion of the Purchase Price shall be applied by Escrow Agent as necessary to release the monetary lien to Purchaser’s reasonable satisfaction, and the Purchase Price proceeds payable to Seller shall be reduced accordingly. The term “Permitted Exceptions” means: (i) standard exceptions contained in the title insurance policy form, (ii) the specific title exceptions (exceptions that are shown on Schedule “B,” Part 2 of the Title Commitment) that the Title Company has not agreed to insure over or remove from the Title Commitment and that Seller is unwilling to remove as provided above; (iii) items which would be disclosed by an accurate ALTA survey of the Property; and (iv) real estate taxes not yet due and payable. In the event the Title Company amends or updates the Title Commitment after expiration of the Due Diligence Period but before the Closing Date, (each, a “Title Report Update”) and such Title Report Update discloses a new title exception not previously known to Purchaser and which was not created o.