CCP 06-16-1997 - Laserfiche WebLink

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I' I I' I (4) Purchaser shall have satisfied itself as to the environmCDtal condition of the Land, based on environmental testing pursuant to this Section 1 0 and any environmental reports furnished to the Purchaser by the Seller pursuant to this Section 10. I (B) If purchaser shall detennine that it is not possible to develop the Property as intended by Purehaser, then Purchaser may tenninate this Agreement by giving notice (the I "r ermination Notice") of its election to do so to Seller on or before the expiration of the Inspection Period. The T ennination Notice shall set forth the reasons for the tenninalion of this Agreement in reasonable specificity. Upon such a termination, the Earnest Money shall be I retumed to Purchaser. If the Termination Notice is not given on or before the expiration of the Inspection Period (as the same may extended as herein provided) then Purchaser shall be conclusively presumed to have irrevocably waived the right to tenninate under this Section 10 I and to have accepted the Property in its "as is" condition and the Seller shall have no liability to the Purchaser on account of any conditions existing on the Land. I 11. REAL ESTATE TAXES AND ASSESSMENTS. All general real estate taxes and installments of special assessments levied or assessed .. against the Property (collectively, "Taxes") shall be paid by Seller if the same are due and payable as of the Closing Date and by Purchaser if due and payable thereafter. All Taxes for the tax fiscal year in which the Closing Date occurs shall be apportioned between Purchaser and I Seller on and as of the Closing Date, with Purchaser bearing only the expense of that proportion of such Taxes that the number of days in the proration period following and including the Closing Date bears to 365. If the amount ofTaxes to be borne by the parties as above provided is I not ascertainable on the Closing Date, the total thereof paid for the preceding tax fiscal period shall be used for pUIposes of such proration, and within thirty (30) days after the amount of such Taxes becomes known, the parties shall recOIl1pute such proration and adjust the difference. I 12. CONDITIONS PRECEDENT. I (A) This Agreement and all obligations of Seller hereunder are expressly conditioned on the following conditions precedent being in effect or complied with on and as of the Closing Date, and Purchaser covenants that it will use diligent, good faith efforts to cause such conditions I to be in effect or complied with: (1) Purchaser's representations and warranties set forth in Section 8 shall I remain true and. correct in all material respects. (2) Purchaser shall have executed and delivered. or c~"s'ild to be executed. and I delivered. to Seller and/or the Title Company, as herein provided, all documents, instruments and infonnation required to be delivered. by Purchaser. it (3) purchaser shall be in compliance with all of its other obligations under this Agreement and the Contract. I 7 80'd 6v(ll. lZ6 <:t9 '~'d '3~I3a ~ ^~ vt:tt l.66t-<:t-Nflf -