Laserfiche WebLink
I <br /> Buyer is a party; such documents are valid and binding obligations of Buyer, and are enforceable in accordance <br /> with their tens s. The representations,warranties and indemnity contained in this Section 11 will survive for aperiod <br /> of 12 months after the Closing. Buyer will indemnify Seller,its successors and assigns,against,and will hold Seller, <br /> its successors and assigns, harmless fi•om,any expenses or damages,including reasonable attorneys'fees,that Seller <br /> incurs because of the breach of any of the above representations and warranties, whether such breach is discovered <br /> before or after Closing. Consummation of this Agreement by Seller with knowledge of any such breach by Buyer <br /> will not constitute a waiver or release by Seller of any claims due to such breach. <br /> 12. Conditions to Closing, Buyer's obligation to proceed to Closing under this Agreement is subject to the <br /> following conditions precedent; <br /> 12.1 Seller will have performed and satisfied each and all of Seller's obligations under this Agreement; <br /> 12,2 Each and all of Seller's representations set forth in this Agreement will be true and correct on the <br /> Contract Date and on the Closing Date; <br /> 12.3 Buyer will have received, prior to expiration of the Contingency Period, a Tenant Estoppel <br /> Certificate in the form attached hereto as Exhibit H,from all Tenants or occupants under each Lease; <br /> 12.4 There will be no material adverse change between the Contract Date and the Closing Date in the <br /> Property or in Seller's obligations with respect thereto; <br /> 12.5 Buyer will have delivered the Notice to Proceed to Seller on or prior to the Contingency Date; <br /> 12.6 Seller will deliver title to Buyer in a condition that enables the Title Company to deliver the Title Policy <br /> in accordance with Section 1.1.49;and <br /> 12.7 Buyer will have successfully settled any relocation claim and obtained a fully-signed settlement <br /> agreement acceptable to Buyer from any Tenant or occupant deemed necessary by Buyer in Buyer's sole discretion <br /> prior to the expiration of the Contingency Period. <br /> In the event any of the foregoing conditions are not satisfied on the Closing Date or the applicable date as <br /> noted,Buyer will have no obligation to proceed to Closing and,unless Buyer delivers written notice to Seller that <br /> Buyer has waived any unsatisfied condition and will proceed to Closing, this Agreement, upon notice from Buyer <br /> to Seller,will cease and terminate, and the Earnest Money will be returned and paid to Buyer, Notwithstanding the <br /> foregoing, nothing contained herein will waive or diminish any right or remedy Buyer may have for Seller's default <br /> or breach of this Agreement. <br /> 13. Name of Building. Seller will relinquish and transfer to Buyer on the Closing Date,all rights to designate the <br /> name of the Building and agrees that,as between Buyer and Seller,Buyer will have the right,but not the obligation, <br /> to continue the use of the present name. <br /> 14. Damage, If, prior to the Closing, all or any part of the Property is substantially damaged by fire, <br /> casualty,the elements or any other cause,Seller will immediately give notice to Buyer of such fact and,at Buyer's <br /> option(to be exercised witivn 30 days after Seller's notice),this Agreement will terminate,in which event neither <br /> party will have any further obligations under this Agreement, and the Earnest Money will be refunded to Buyer.If <br /> Buyer fails to elect to terminate this Agreement despite such damage, or if the Property is not substantially <br /> damaged,Seller will promptly repair such damage or destruction and return the Property to its condition prior to <br /> such damage;or at Buyer's option,Seller will assign to Buyer all of Seller's rights to receive the proceeds of all <br /> insurance related to such damage, the transaction will close,and the Purchase Price will remain the same, If such <br /> Page 22 of 38 <br />