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10. <br /> <br />11. <br /> <br />develop the Property for Purchaser's intended use. Each condition must be <br />waived or satisfied in writing by Purchaser before Purchaser shall be obligated to <br />consummate this transaction. Purchaser shall have the r~ght to unilaterally waive <br />any of the contingencies contained in this Contract and proceed to Closing. In the <br />event the Purchaser has not provided the Seller with written notice that it has <br />either satisfied or waived the contingencies in this Contract prior to the expiration <br />of the Contingency Period, the contingencies shall be deemed to have been <br />automatically exemised, the Contract shall terminate, and the Purchaser and Seller <br />shall have no other rights or obligations to the other pursuant to this Contract. <br /> <br />The closing (the "Closing" and "Acceptance Date") shall take place at the offices <br />of the Seller's attorney or such other location as shall be mutually agreed to by <br />Purchaser and Seller on or before4q~ 15, 2~Q0.~ ~>[ ~.~.~ <br /> <br />There shall be prorated and adjusted, as of'12:00 midnight prior to the delivery of <br />the deed, non-delinquent taxes and assessments appearing on current tak bills <br />computed on a fiscal year basis and water and sewer charges and such other items <br />as are customarily adjusted in transactions of this nature. <br /> <br />At Closing, Seller shalI deliver to Purchaser a full warranty deed with lien <br />covenant, in recordable form, conveying good and marketable title in fee simple, <br />free and clear of ali ehcumbrances except the Permitted Exceptions or as <br />otherwise stated in this Agreement. Seller shall pay all transfer tax fees and any <br />rollback taxes. Purchaser shall pay for recording the deed. At Closing, Seller <br />shall deliver to Purchaser and Purchaser shall deliver to Seller such other <br />documents as Purchaser, Seller and/or the Title Company shall reasonabl? require. <br /> <br />Before Closing, Purchaser shall have the right to inspect the Property. 'In <br />connection therewith, Purchaser or its agents shall have the right to do test borings <br />and other tests with respect to the Property as well as place signage on said <br />Property. Seller agrees to immediately upon the execution of this Agreement to <br />send Purchaser copies of all correspondence, environmental reports or other <br />materials in Seller's possession relating to environmental or soil matters at the <br />Property. <br /> <br />Seller represents and warrants that (a) neither Seller nor any past owner, user or <br />occupant of the Property has conducted activities with respect to the Property <br />which have resulted in the generation, storage or release on the Property of any <br />toxic or "hazardous substances" (as that term has been defined from time to time <br />in any applicable federal, state or local law, rule or regulation), (b) that Purchaser <br />shall have possession and occupancy of the Property from and after Closing and <br />subject only to the Permitted Exceptions and (c) there are no Agreements or leases <br />effecting the Property. These representation and warranties shall survive Closing. <br /> <br />In the event Purchaser defaults in its obligation to close the purchase of the <br />Property and seller is not in default, the Deposit Payments shall be retained by <br /> <br /> <br />