AG 2002 05 13 (Recessed) - Laserfiche WebLink

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consequential damages, to Purchaser arising from contamination of the Property by hazardous substances during Seller's period of ownership of the Propert. y. Purchaser may obtain at its expense a report from a reputable environmental consultant of Purchaser's choice as to whether the Property has been or is being used for the handling, storage, transportation, or disposal of hazardous or toxic materials. If the report indicates such past or present use, handling, storage, 'transportation, or disposal or any presence of hazardous waste products or substances, Purchaser may, at its option, declare this Agreement null and void, and .the earnest money and all accrued interest on the earnest money shall be returned immediately in its entirety to Purchaser, and the parties hereto shall have no furthe( rights, obligations, or liabilities to each' other hereunder. The above described report and analysis must be completed within one hundred twenty (120) days from the Date of Execution of this · Agreement by the Purchaser, and the Seller shall be notified in writing by Purchaser of his acceptance or rejection of said report. (9) There are adequate utility services (including electricity, telephone, water, sewer, and gas) on the Property or at the Property lines in such quantities and with such pressures as will allow Purchaser to develop the property for its Intended Use. Seller will not cause or permit any action to be taken that will cause any of the foregoing representations or warranties to be untrue as of the Closing of this Agreement. These representations and warranties will survive the Closing. Selle,~ agrees at Closing to execute an affidavit stating that the said representations and warranties remain true and correct and that they w survive the Closing. (f) Terminatiofl. Purchaser or its assignee may terminate this Agreement upon written notice to Seller by reg stered mail return receipt requested if: (1) Seller cannot convey good, indefeasible, fee simple marketable and insurable title, free and clear of all claims, liens, easements, leases, encumbrances, restrictions or restrictive covenants, except those referred to in Paragraph 4(a) above; or (2) Seller cannot deliver exclusive possession of all the Property. (3) The representations of Seller in Paragraph 4(e) are not true and correct as of the date of Closing. (4) Seller has failed, despite its best efforts, to comply with and otherwise perform each of the covenants and obligations of Seller set forth in this Agreement. (5) There is 'pending or presently ongoing claims, Proceedings or litigation involving the Property which Seller, despite its best efforts, can not resolve in a manner satisfactory to Purchaser. If Purchaser shall terminate this Agreement for one or more of the reasons hereinabove set forth, Escrow Agent'shall immediately refund to Purchaser all earnest money paid by Purchaser hereunder, i~rcc~, and this Agreement shall be null and void and neither party shall have any further obligation or liability to the other with respect to the Property. 5. Notic~.s. All notices and other communications shall be in writing and shall be sent by registered or certified mail, return receipt requested, postage prepaid, as follows: