2007-07-11 Set Agenda & Handouts

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Seller agrees that the above listed building extras shall be supported by contractor bids or quotes identifying the price. Upon completion, Seller shall provide copies of all paid invoices showing that the above identified work has been completed and paid for in full. Seller shall provide Buyer with all lien waivers in connection with the construction of the improvements to the Property . 10. Permits and/or Licenses. Seller shall be responsible for securing all necessary permits and/or licenses required to construct the improvements on the Property and Seller shall be solely responsible for payment of costs associated in securing such permits and/or licenses. 11. Inspection and Approval of Improvements to Property. Seller agrees to complete all improvements to the Property pursuant to the satisfaction and approval of the Buyer. Seller understands that all improvements are subject to inspection and approval by the City Building Inspector and must comply with all city, state and federal building rules and regulations. Seller agrees that all goods and materials used to complete the improvements to the Property shall be new. 12. Completion of Improvements to Property. Seller agrees that all improvements to . the Property as set forth in Section 9 of this Agreement shall be completed no later than November 1, 2007. No extension of time shall be allowed unless agreed upon in writing between the Parties. If all improvements are not completed by this date, the Buyer, at its discretion, can arrange for the remainder of the improvements to be completed by independently selected contractors and the costs for the completion of the remaining improvements will be deducted from any amounts owed the Seller at the time of Closing. Seller agrees to provide a two year structural warranty and a one year mechanical and electrical warranty for the improvements on the Property.