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3 . TITLE: Within ten days from the date of execution of <br /> this contract by both Buyer and Seller, Seller shall , at <br /> Seller ' s sole cost and expense, furnish to Buyer a binder of <br /> title insurance (title commitment) issued by a title company <br /> acceptable to Buyer setting forth the current state of title to <br /> the property together with a full and true copy of each easement <br /> and other document referred to in the exceptions portion of the <br /> title binder . Buyer shall then have ten days from the date of <br /> delivery to examine the title binder and title documents and <br /> give notice to Seller in writing of Buyer ' s objection to any <br /> exceptions appearing therein. In the event Buyer should object <br /> to any exception, Seller shall then have until ten days before <br /> the closing date specified herein in which to satisfy Buyer ' s <br /> objections to any such exception. If Seller is unable to cure <br /> or otherwise obtain the release of any such exceptions to the <br /> satisfaction of Buyer, then Buyer shall have the option to ( 1) <br /> waive any such exception and proceed with this transaction; or <br /> (2) terminate this contract . In the event of a termination of <br /> this contract by Buyer pursuant to the options provided in this <br /> paragraph, Buyer shall be entitled to a return of the $50,000 in <br /> earnest money, but shall not be entitled to reimbursement or <br /> recovery of any other sums, expenses , costs , fees, advances , or <br /> other expenditures of any kind which may have been made or <br /> incurred by Buyer in connection with this transaction. In the <br /> event Buyer fails to give written notice of objection to any <br /> L <br /> -3- <br />