Title: Each property is to be conveyed by a good and sufficient Quitclaim Deed running to the buyer, which deed shall convey a good and clear record and marketable title, free from encumbrances, except:
a. Provisions of existing building and zoning laws and regulations.
b. Existing rights and obligations in party walls and agreements.
c. Such taxes and water & sewer charges attributable to the premises assessed from and     after May 19, 2001.
d. Any liens for municipal betterment's.
e. Rights of tenants & other parties in possession.
f. Easements, restrictions & agreements of record.

Closing: The successful bidder must sign all documents and contracts at the conclusion of the auction and will be required to make an appointment with the closing agent to pay the balance of the purchase price and receive the deed on or before July 19, 2001. The deed is to be delivered and the consideration paid at the office of Property Acquisition & Disposition, 10 Prospect Street, Hartford, or at such other place as the parties may agree to in writing, at a time to be set by the parties which shall be no more than sixty (60) days after the date of the auction with respect to all properties scheduled in the auction, unless extended by the Seller in accordance with the Purchase and Sales Agreement. Time is of the essence with respect to the closing. A copy of the Purchase and Sales Agreement to be signed the day of the auction in available for review in the Bidder's Informational Package. The terms and conditions of the Purchase and Sales Agreement are incorporated herein by reference and in the event of an inconsistency between the Purchase and Sales Agreement with the Terms and Conditions, the Purchase and Sales Agreement shall govern.

Default: If the high bidder or high bidders default by failing to pay the purchase price in full within the time specified in the Purchase and Sale Agreement, or if a high bidder otherwise breaches the terms of sale, the Seller, in addition to all other remedies allowed by law or equity, may retain the full Deposit as damages. In addition, the property may be resold in any manner to any party, and any deficiency, together with all expenses and costs of resale (including attorney's fees) shall be paid by the defaulting high bidder. In addition, and at the Seller's sole and exclusive option, Seller may have the rights under any executed Purchase and Sale Agreement assigned to the Seller, or Seller's Nominee, without any other or further action by the defaulting high bidder.

Limitation of SELLER'S Liability: Buyer waives any and all rights to any action against the Seller for specific performance, and Buyer further agrees not to record any agreement, notice or instrument in any public record which could create a lien, cloud or encumbrance on the title to the property in any manner whatsoever. In no event shall the Seller's liability for any breach of the Purchase and Sale Agreement or default, exceed the refund or any amounts paid as a deposit by the Buyer to the Seller. A refund of the Buyer's deposit shall constitute the Buyer's sole and exclusive remedy as against the Seller, at law or in equity.