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I <br /> z o� <br /> 4 . Title. Seller shall convey the property to Buyer or <br /> Buyer' s nominee by good and sufficient warranty deed, free and <br /> clear of all liens and encumbrances, except applicable zoning <br /> ordinances, and other governmental restrictions or limitations <br /> affecting or restricting said property, and taxes and <br /> assessments, both general and special , for the year of closing <br /> and thereafter. <br /> Seller agrees to furnish Buyer, at Seller ' s. expense, an <br /> owner' s policy of Title Insurance from an established title <br /> insurance company in the full amount of the purchase price <br /> guaranteeing or insuring, as the case may be, record title to be <br /> good in the Buyer or his nominee as of the date of transfer of <br /> title, subject only to those matters permitted pursuant to this <br /> Contract. <br /> 5 . Conditions of Closing. The Buyer shall be obligated to <br /> purchase the property only in the event the "Libby Landfill Site" <br /> becomes operational , whether by. the Buyer or any other person or <br /> entity. If the landfill is not operational by June 1 , 1992 , the <br /> purchase price shall increase by 10 percent per year (or a pro- <br /> rated fraction thereof) for each month or year after June 1, <br /> 1992 , until the purchase price is due. The purpose of the <br /> increase in price is to recognize the time value of money and <br /> that if the seller is required to wait more than 3 1/2 years for <br /> payment, the purchase price should increase. <br /> If after 10 years the "Libby Landfill Site" is not <br /> operational , the Seller or Buyer shall have the option to <br /> terminate this contract by written notice to the other. No <br /> payments made prior to the termination shall be refunded. <br /> 6 . Use of Property After Transfer. The Seller shall have <br /> use of all untilled land for a period of three years after the <br /> transfer of title. Part of the property is presently rented and <br /> planted in corn. The Seller shall not have the use of that land <br /> after the calendar year of the date of the transfer of title. <br /> The Seller shall be responsible for real estate taxes and <br /> shall be entitled to collect rents on the tillable property for <br /> the calendar year of the date of the transfer of title. <br /> After the calendar year of the date of the transfer of <br /> title, the Buyer shall collect rents on the tillable land and pay <br /> all real estate taxes on all the property. <br /> • <br />