1999-05-26 - Laserfiche WebLink

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(d) Lease Approval, Buyer shall find the leases by tenants to be acceptable and/or obtaining Estoppel Certificates from the tenants in a form acceptable to Buyer. (e) Testing, Buyer shall have determined, on or before the Contingency Date. that it is satisfied with the results of and matters disclosed by soil tests, engineering inspections, hazardous waste and environmental reviews of the Property, all such tests, inspections and reviews to be obtained at Buyer's sole cost and expense. except that if a Phase II Environmental onmental Survey is necessary, it shall be paid for by Seller. (f) Document Review. Buyer shall have detenmined, on or before the Contingency Date, that it is satisfied with its review and analysis of the Leases, Contracts, Permits, Warranties, Plans, Records and Permitted Encumbrances. (g) Financing. Buyer shall have received on or before the Closing Date [a Commitment acceptable to Buyer for] the proceeds of financing necessary and sufficient is Buyer's opinion to implement Buyer's plans for and complete the purchase of the Property. The "Contingency Date" shall be June 25, 1999. if any such contingency has not been satisfied on or before the stated date, then this Agreement may be terminated, at Buyer's option, by written notice from Buyer to Seller. Such notice of termination may be given at any time on or before the Closing Date. Upon such termination, the Earnest Money and any interest accrued thereon shall be released to Buyer and upon such return, neither parry will have any further rights or obligations regarding this Agreement or the Property. All the contingencies set forth in this Agreement are specifically stated and agreed to be for the sole and exclusive benefit of the Buyer and the Buyer shall have the right to unilaterally waive any contingency by written notice to Seller 4. Closing. The closing of the purchase and sale contemplated by this Agreement shall occur on July 1, 1999 (the "Closing Date "). The Closing shall take place at a mutually agreeable location, Seller agrees to deliver possession of the Property to Buyer on the Closing Date, subject to the rights of tenants under the Leases in their capacity as tenants. A. 8.eller's Closing Documents. On the Closing Date, Seller shall execute and/or deliver to Buyer the foliowing (collectively "Seller's Closing Documents "): (1) Deed. A Warranty Deed, in form reasonably satisfactory to Buyer, conveying the Real Property to Buyer, free and clear of all encumbrances, except the Permitted Encumbrances hereafter defined. (2) Bill of Sale. A Warranty Bill of Sale, in form reasonably' satisfactory to Buyer, conveying the Personal Property to Buyer, free and clear of all encumbrances.