AG 2016 07 18 - Laserfiche WebLink

Home Browse Search

then Buyer shall, on or before the expiration of the Feasibility Period, have the option to either: (a) terminate this Contract by delivering a termination notice to Seller, upon which termination Buyer shall be entitled to receive a full refund of the Earnest Money, with neither party having any further obligations in connection with this Contract; or (b) proceed toward Closing and take title to the Property subject to the Objections that Seller does not agree to cure, which Objections shall thereafter constitute Permitted Exceptions under this Contract. d. Seller shall have until the Closing Date to satisfy all Objections that Seller has agreed to cure (and other than those waived by Buyer pursuant to subparagraphs (b) and (c) of this Section 7 , if any) and, if Seller fails to so satisfy any such Objections, then, at the option of Buyer, and as its sole and exclusive alternatives and remedies, Buyer may either: (1) terminate this Contract in which event the Earnest Money shall be refunded to Buyer promptly upon request, all rights and obligations of the parties under this Contract shall expire, and this Contract shall become null and void; or (ii) waive such satisfaction and performance and elect to consummate the purchase and sale of the Property, in which event all unsatisfied objections shall constitute Permitted Exceptions under this Contract. 8. Survey. A survey of the Property has been prepared by Robert D. Bartlett, P.L.S., of ESP Associates, P.A., dated August 27, 2015, and revised on September 1 and September 9, 2015 (the "Survey "). The legal description set forth on the Survey shall be used as the legal description of the Property for purposes of this Contract and shall automatically replace Exhibit "A" to this Contract (it being understood that the description of the Property reflected on Exhibit "A" as of the Effective Date is for informational purposes to identify the Property and shall be substituted with the legal description of the Property as set forth in the Survey). 9. Broker and Commission All negotiations relative to this Contract and the purchase and sale of the Property as contemplated by and provided for in this Contract have been conducted by and between Seller and Buyer without the intervention of any person or other party as agent or broker, with the exception of Glen Tucker of RE/MAX Leading Edge Realty Group, LLC, on behalf of Seller ( "Seller's Broker "). It shall be the obligation of the Seller to pay Seller's Broker a real estate commission in such amounts and upon such terms as agreed upon between Seller and Seller's Broker pursuant to a separate agreement. Seller and Buyer warrant and represent to each other that other than with reward to Seller's Broker Seller and Buyer have not entered into any agreement or arrangement and have not received services from any broker or broker's employees or independent contractors, and there are and will be no broker's commissions or fees payable in connection with this Contract or the purchase and sale of the Property by reason of their respective dealings, negotiations or communications. 10. Access to Property Seller covenants that Buyer and Buyer's agents, employees and independent contractors ( "Buyer's Designees ") shall have the right and privilege to enter upon the entirety of the Property at any time following the Effective Date and prior to Closing to conduct any tests or inspections Buyer deems appropriate ( "Buyer's Activities "), all at Buyer's sole cost and expense. Buyer shall indemnify, defend and hold Seller harmless from and against any liens, claims, losses, damages and liabilities resulting from Buyer's exercising the right and privilege to go upon the Property as provided herein; provided however that the foregoing indemnity and defense obligations do not apply to (a) any loss, liability cost or expense to the extent arising from or related to any act or omission of Seller or its employees, agents, consultants, contractors or invitees; (b) any adverse condition or defect on or affecting the Property not caused by Buyer or its employees, agents, consultants, or contractors but discovered or impacted during their inspections including, without limitation, the pre- existing presence or discovery of any matter such as, but not limited to, any Page 4 of 17 Attachment number 8 \n G -2 Page 134