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2009_1019_Packet
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2009_1019_Packet
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1/9/2012 3:23:31 PM
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10/15/2009 3:47:30 PM
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Attachment C <br />by Buyer, and that as a result, any subtenant who takes possession after the closing will not be <br />considered as a displaced person for the purposes of obtaining relocation benefits, and that any <br />subtenant who takes occupancy after the closing will not be entitled to relocation benefits stemming <br />from or relating to Buyer's acquisition of the property. Seller shall not be liable for any relocation <br />benefits stemming from or relating to Buyer's acquisition of the property. <br />4. Buyer Contingencies. The obligations of Buyer under this Agreement are contingent <br />upon each of the following: <br />a. Representation and Warranties. The representations and warranties of Seller <br />contained in this Agreement must be accurate in all material respects now and on <br />the Closing Date as if made on the Closing Date. <br />b. Title. Title shall have been found marketable, or been made marketable, in <br />accordance with the requirements and terms of Section 7 below. <br />c. Performance of Seller's Obligations. Seller shall have performed all of the <br />obligations required to be performed by Seller under this Agreement as and when <br />required by this Agreement. <br />d. Condition of Property. Buyer shall be reasonably satisfied with the physical and <br />environmental condition of the Property within thirty (30) days of the Effective <br />Date. <br />e. Subdivision Approval. All subdivision approvals shall have been obtained by <br />Buyer, at Buyer's sole cost and expense, given the fact the Property is part of a <br />larger tax parcel. Buyer will undertake its best efforts to obtain such approve on <br />or before December 21, 2009. <br />If any contingency set forth above has not been satisfied on or before the Closing Date or such <br />earlier date set forth above, then this Agreement may be terminated, at Buyer's option, by written <br />notice from Buyer to Seller. Upon such termination, the Earnest Money shall be refunded to <br />Buyer, and upon such return, neither party will have any further rights or obligations regarding <br />this Agreement or the Property. All the contingencies set forth in this Section are for the sole <br />and exclusive benefit of the Buyer and the Buyer shall have the right to waive any contingency <br />by written notice to Seller. <br />5. Closing: The closing of the purchase and sale contemplated by this Agreement shall <br />occur on a"Closing Date" which shall take place within ten (10) days of the satisfaction of the <br />contingencies, but not later than December 31, 2009. The closing shall take place at a mutually <br />agreeable time and place. Seller shall retain possession of the Property on the Closing Date <br />pursuant to the Lease. At the closing Buyer shall pay the balance of the Purchase Price to Seller <br />and the following closing documents shall be executed and delivered. <br />a. A warranty deed conveying the Property to Buyer, free and clear of all <br />encumbrances, except the following "Permitted Encumbrances": <br />Page 2 <br />
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