AG 2004 08 16 - Laserfiche WebLink

Home Browse Search

(g) Buyer/Seller Cooperation. Buyer and Seller must agree on any development and/or planning and zoning matters required to be resolved with regard to the Property and the surrounding property owned by the Seller, including without limitation, buffer zones required by the City of Concord planning and zoning ordinances. Section 7. Environmental: Seller represents and warrants, without investigation, that it has no actual knowledge of the presence or disposal on the Property of hazardous or toxic waste or substances. Seller further states that, without investigation, it has no actual knowledge of any contamination of the Property from such substances as may have been disposed of or stored on neighboring tracts owned by Seller. Buyer understands and acknowledges that it is Buyer's sole and exclusive responsibility to obtain any environmental inspections of the Property deemed necessary or prudent by the Buyer prior to the end of the Examination Period and that Seller assumes no responsibility for obtaining same. Section 8. Risk of Loss/Damage/Repair: Until the Closing, the risk of loss or damage to the Property, except as otherwise provided herein, shall be borne by Seller. Except as to maintaining the Property in its same condition, Seller shall have no responsibility for the repair of the Property, including any improvements. Section 9. Earnest Money Disbursement: In the event this offer is not accepted, or in the event of a breach of this Agreement by Seller, then the Earnest Money shall be returned to Buyer and shall constitute the sole and exclusive remedy for Seller's breach hereunder. In the event this offer is accepted and Buyer breaches this Agreement, then the Earnest Money and all accumulated interest shall be forfeited to-Seller and shall constitute the sole and, except as specifically otherwise set forth herein, exclusive Seller's remedy for such breach. NOTE: In the event of a dispute between Seller and Buyer over the return or forfeiture of Earnest Money held in escrow by a licensed real estate broker, the broker is required by state law to retain said Earnest Money in its trust or escrow account until it has obtained a written release from the parties consenting to its disposition or until disbursement is ordered by a court of competent jurisdiction. Section 10. Closing: The Closing shall consist of the execution and delivery by Seller to Buyer of a General Warranty Deed subject to restrictions set forth herein and other documents customarily executed by a seller and buyer in similar transactions, including without limitation, an owner's affidavit, lien waiver forms and a non-foreign affidavit and the payment by Buyer to Seller of the Purchase Price in accordance with the terms of the Purchase Price. At Closing, the Earnest Money shall be applied as part of the Purchase Price or as otherwise provided herein. The Closing shall be held at the office of Buyer's attorney or such other place as the parties hereto may mutually agree. Possession shall be delivered at Closing, unless otherwise agreed herein. Section 11. Notices: Unless otherwise provided herein, all notices and other communications which may be or are required to be given or made by any party to the other in connection herewith shall be in writing and shall be deemed to have been properly given and received on the date delivered in person or deposited in the United States mail, registered or certified, return receipt requested, to the addresses set out in Section l(g) as to Seller and in Section l(h) as to Buyer, or at such other addresses as specified by written notice delivered in accordance herewith.