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plans, unrecorded developer agreements, environmental reports, surveys and prior title insurance policies, title commitments, and title exceptions pertaining thereto, if any. 4.6 Confidentiality. Prior to the Closing Date (and at all times if this Agreement shall be terminated for any reason), Buyer shall keep confidential all financial, environmental and other information pertaining to the Property that is not recorded in the public records (including, without limitation, any summaries or descriptions of such information prepared by Buyer or its Representatives) (collectively, the "Confidential Information") and shall not disclose any of such Confidential Information to any person or entity, except that Buyer may disclose the Confidential Information (i) as and to the extent required by applicable law, regulation or legal process and (ii) to Buyer's directors, officers, employees, agents, attorneys and consultants (collectively, the "Representatives") who need to know the Confidential Information for the purpose of evaluating the potential purchase of the Property by Buyer. Buyer agrees that the Confidential Information will be used solely for the purpose of evaluating the potential purchase of the Property by Buyer. 5. Evidence of Title. 5.1 Delivery of Title Commitment. Within thirty (30) calendar days of the Effective Date, and subsequent to receipt of a copy of the prior deed to the Property in Seller's possession more particularly described below in this Paragraph, Buyer shall obtain a Title Commitment, at Buyer's cost, and shall deliver a copy of the Title Commitment to Seller's attorney within three (3) days of receipt. Within five (5) business days of execution of this Agreement by Seller, Seller shall be obligated to provide to Buyer a copy of the deed in its possession that conveyed title to the subject real prope11y to Seller. 5.2 Marketable Title. Seller shall convey marketable title to the Property, subject to the Permitted Exceptions. Marketable Title shall be determined according to the Title Standards adopted by authority of The Florida Bar and in accordance with law. Buyer shall have fifteen (15) days from the date of receiving the Title Commitment to examine same. If title is found to have defects which render title unmarketable, Buyer shall notify Seller in writing within such fifteen-day period of any such title defects which are objectionable to Buyer (the "Title Objections"). Time is of the essence for Buyer to notify Seller of any Title Objections. The Buyer's notice of Title Objections shall include a statement of how the defects should be cured. Seller has until the Closing Date to remove all Title Objections. If any Title Objections are not removed on or prior to the Closing Date, Buyer shall have the option of either accepting title in its existing condition, or of terminating this Agreement by delivering to Seller a written notice of termination at the Closing. Upon such a termination ofthis Agreement, neither Buyer nor Seller shall have further rights or obligations hereunder except for those that expressly survive termination of this Agreement except that the Escrow Funds shall be refunded to Buyer under these circumstances, provided that Buyer had timely exercised the Option in the manner required under this Agreement. Seller agrees that if title is found to be unmarketable, Seller will use diligent efforts to COt1'ect all Title Objections that are timely objected to by Buyer, within the time provided therefore, and subject to the limitations that Seller shall not be required to bring any action or proceeding or to incur any expense in excess of five percent (5%) of the Purchase Price in the aggregate to cure any such Title Objections. Mazacco - Option Agreement 7 SIB