For each parcel of real estate to be conveyed seller shall furnish a complete original abstract of title, continued at least to date that this offer is accepted, or an owner's title policy in the amount of the total purchase price. The abstract or title policy shall show or insure good and merchantable title in fee simple, free and clear of all liens and incumbrances, excepting (1) those specifically set forth in this contract; (2) restrictions, conditions and utility easements created or reserved as a part of a general plan in and for the subdivision or subdivisions in which the properties are located; and (3) zoning ordinances and all legal highways. If title insurance is furnished, the policy or policies shall be issued by a solvent title insurance company authorized to do business in _________. If buyer desires or requires a survey, buyer shall pay cost of it.

If the title to all or part of the parcels to be conveyed is defective or unmerchantable, or if any part of property is subject to liens, incumbrances, easements, conditions or restrictions other than those excepted in this contract, or in event of any encroachment, seller shall have a reasonable time, not to exceed _________ days, after written notice of the fact, to remedy or remove any such defect, lien, incumbrance, easement, condition, restriction or encroachment. If seller is unable to remedy or remove, or to secure title insurance against such defect, lien, incumbrance, easement, condition, restriction or encroachment within the _________-day period, the amount of deposit, if any, shall be returned to buyer promptly.