AG 2000 07 24 - Laserfiche WebLink

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o environmentally acceptable to Purchaser in Purchaser's sole discretion and (b) Purchaser obtaining all required permits, zoning and governmental approvals to develop the Property for Purchaser's intended use. Each condition must be waived or satisfied in writing by Purchaser before Purchaser shall be obligated to consummate this transaction. Purchaser shall have the right to unilaterally waive any of the contingencies contained in this Contract and proceed to Closing. In the event the Purchaser has not provided the Seller with written notice that it has either satisfied or waived the contingencies in this Contract prior to the expiration of the Contingency Period, the contingencies shall be deemed to have been automatically exercised, the Contract shall terminate, the Deposit shall be returned to the Purchaser, and the Purchaser and Seller shall have no other rights or obligations to the other pursuant to this Contract. The closing (the "Closing" and "Acceptance Date") shall take place at the offices of the Seller's attorney or such other location as shall be mutually agreed to by Purchaser and Seller on or before February 15, 2001; provided however, if the Cabarrus County Board of Education's hew offices are not completed by February 15, 2001~ Purchaser shall have the option of (a) either extending the closing date until such time as the Cabarrus County Board of Education's new offices are complete or (b) closing on the acquisition of the Property and allowing the Seller to remain in possession post-closing, on a rent free basis. If the Seller remains in possession post-closing, Purchaser and Seller shall execute a post closing occupancy agreement which will provide, among other things, that Seller shall maintain its insurance on the Property at levels acceptable to Purchaser. There shall be prorated and adjusted, as of 12:00 midnight prior to the delivery of the deed, non-delinquent taxes and assessments appearing on current tax bills computed on a fiscal year basis and water and sewer charges and such other items as are customarily adjusted in transactions of this nature. At Closing, Seller shall deliver to Purchaser a full warranty deed with lien covenant, in recordable form, conveying good and marketable title in fee simPle, free and clear of all encumbrances except the Permitted Exceptions or as otherwise stated in this Agreement. Seller shall pay all transfer tax fees and any rollback taxes. Purchaser shall pay for recording the deed. At Closing, Seller shall deliver to Purchaser and Purchaser shall deliver to Seller such other documents as Purchaser, Seller and/or the Title Company shall reasonably require. Before Closing, Purchaser shall have the right to inspect the Property. In connection therewith, Purchaser or its agents shall have the right to do test borings and other tests with respect to the Property as well as place signage on said Property. Seller agrees to immediately upon the execution of this Agreement to send Purchaser copies of all correspondence, environmental reports or other materials in Seller's possession relating to environmental or soil matters at the Property. ~-}