Additional Inspection for Title, Zoning and Survey Only. Purchaser will have the additional right to terminate this Agreement at any time after the last day of the Inspection Period and prior to 5:00 p.m. on August 15, 2006 (the “Extended Review Period”) should Purchaser be dissatisfied with the status of the Property’s zoning compliance, the title commitment and/or the ALTA survey obtained by Purchaser for the Property. If, during the Extended Review Period, Purchaser determines in good faith that a zoning, title and/or survey problem or issue exists which, in Purchaser’s reasonable opinion, materially affects the Property, then Purchaser may notify Seller in writing prior to the expiration of the Extended Review Period that it wishes to terminate this Agreement pursuant to this Section 4.3 (which notice will specify the particular title, zoning and/or survey problem or issue identified by Purchaser), in which event: (i) the Deposit shall be returned to Purchaser; (ii) this Agreement shall be automatically terminated; and (iii) the parties shall be relieved of any further obligation and responsibility under this Agreement, subject only to the Purchaser’s obligations under Section 4.1 above. It is expressly recognized and agreed by the parties that if Purchaser fails to notify Seller in writing prior to the end of the Extended Review Period that Purchaser elects to terminate this Agreement pursuant to this Section 4.3, then Purchaser shall be deemed to have waived its additional termination right under this Section 4.3, and, subject to the satisfaction of certain other contingencies more fully described in Article 5 below and the terms of Article 10 and Section 11.2 below, the entire Deposit shall thereupon be deemed at risk and non-refundable to Purchaser.
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Samples: Purchase and Sale Agreement (Columbia Equity Trust, Inc.), Purchase and Sale Agreement (Columbia Equity Trust, Inc.), Purchase and Sale Agreement (Columbia Equity Trust, Inc.)
