It is admitted by the parties for the purpose of this transaction that the building which has been erected on the property by seller and is being transferred to purchaser is defective in the sense that the roof of the building contains a number of leaks which causes water to enter the building profusely during heavy rains. Seller also recognizes seller's liability to completely repair these defects to the satisfaction of purchaser. Seller binds itself to repair these defects so as to effectually stop any and all such leaks at once, the work to commence within _________ days of the date this sale is closed and to be completed within _________ days of the closing of this sale. In the event seller does not so commence and complete the repair of the defects within the time specified, purchaser shall have the right to do so at the expense of seller, these repairs to be at the expense of seller. In the event purchaser is required to make these repairs in lieu of seller and in accordance with this agreement then and in that event the surety bond of $_____ which is by this agreement given by seller to purchaser is to protect and hold purchaser free and harmless from any and all expenses, damages, etc., in connection with the repairs.