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Boo81 9 L'Alk :,566 <br />ESCROW AND TITLE <br />Section 2. 01. On January 11, 1973, escrow was opened to complete <br />sale of said property pursuant to this contract at Redlands Branch, Security <br />Pacific National Bank, Redlands, California. <br />Section 2.02. Within 10 days after the date of this contract, the <br />Seller shall cause to be prepared by First American Title Company and <br />delivered to Buyer a preliminary report of the title to said property. Any <br />items, exceptions, or conditions shown on said preliminary report of title <br />not objected to by Buyer in a writing delivered to such title company and Seller <br />within 5 days after receipt of such preliminary report by Buyer shall be deemed <br />accepted by Buyer and Buyer shall thereafter have no right to complain of <br />title being conveyed or insured pursuant to this contract subject to any such <br />item, exception, or condition. <br />Section 2. 03. Conditions of Escrow. The close of escrow described <br />in Section 2. 01 of this contract and Buyer's obligation to purchase said - <br />property pursuant to the terms of this contract are expressly conditioned on: <br />(a) Marketable Title. Conveyance shall be made to Buyer of good and <br />marketable title by grant deed to said property, deposited in escrow by Seller <br />and delivered prior to the close of escrow to Buyer and as evidenced by stand- <br />ard form C. L. T. A. title insurance policy in the full purchase price issued <br />by First American Title Company subject only to such liens, encumbrances, <br />and other matters as may appear on the preliminary report of title described <br />in Section 2. 02 of this contract and not have been objected to by Buyer as <br />provided in such section. <br />-2- <br />