Common use of Amendment of Documents Clause in Contracts

Amendment of Documents. The documents described in Section 5, as well as the plat(s) for the Condominium, may be modified by Seller prior to closing. Subject to the terms of this Section 6, in the event of a modification of any of these documents prior to closing that materially and adversely affects Purchaser, Seller shall give Purchaser notice of such modification and Purchaser shall have the right to terminate this Agreement by notice to Seller and Escrow Agent given during the period ending 10 days after Seller’s notice to Purchaser. In the event of such termination, Purchaser’s sole remedy shall be the return of the amount it previously paid to Escrow Agent, plus any interest earned on such amount. If Purchaser fails to terminate this Agreement during such 10-day period, Purchaser shall be deemed to have accepted such modifications. This Agreement shall not be affected by, nor shall the consent of or notice to Purchaser be required with respect to (i) modifications of these documents not materially and adversely affecting Purchaser, (ii) minor variations in Unit size from those shown on marketing materials, (iii) the design, plan, or appearance of other units within the Condominium, (iv) reasonable changes to these documents required by governmental authorities, lenders, or title insurance companies, or (v) any changes to conform to or utilize the provisions of any amendments to the Oregon Condominium Act or revisions to applicable federal or state law, Xxxxxx Xxx guidelines or Xxxxxx Xxx, Federal Housing Authority or Veterans Affairs regulations prior to closing.

Amendment of Documents. The documents described in Section 5, as well as the plat(s) plat for the Condominium, may be modified by Seller prior to closing. Subject to the terms of this Section 6, in the event of a modification of any of these documents prior to closing that materially and adversely affects Purchaser, Seller shall give Purchaser notice of such modification and Purchaser shall have the right to terminate this Agreement by notice to Seller and Escrow Agent given during the period ending 10 days after Seller’s notice to Purchaser. In the event of such termination, Purchaser’s sole remedy shall be the return of the amount it previously paid to Escrow Agent, plus any interest earned on such amount. If Purchaser fails to terminate this Agreement during such 10-day period, Purchaser shall be deemed to have accepted such modifications. This Agreement shall not be affected by, nor shall the consent of or notice to Purchaser be required with respect to (i) modifications of these documents not materially and adversely affecting Purchaser, (ii) minor variations in Unit size from those shown on marketing materials, (iii) the design, plan, or appearance of other units within the Condominium, (iv) reasonable changes to these documents required by governmental authorities, lenders, or title insurance companies, or (v) any changes to conform to or utilize the provisions of any amendments to the Oregon Condominium Act or revisions to applicable federal or state law, Xxxxxx Xxx guidelines or Xxxxxx Xxx, Federal Housing Authority or Veterans Affairs regulations prior to closing.