Common use of BUYER'S INSPECTION PERIOD Clause in Contracts

BUYER'S INSPECTION PERIOD. BUYER shall have until the later of (i) forty-five (45) days after the Effective Date, or (ii) twenty (20) days after the date the SELLER has furnished the BUYER with all of the Data set forth below ("BUYER's Inspection Period"), during which time BUYER shall have the right to perform such due diligence evaluations as BUYER may reasonably require in connection with its evaluation of the Property, including, but not limited to, environmental, soils, flood plain, legal, financial and engineering studies (the "Data"), all at BUYER's sole cost and expense. BUYER hereby indemnifies and agrees to hold harmless and defend SELLER from and against any and all losses or claims for property damage or personal injury or any liability under any environmental or other law arising out of BUYER's inspections and BUYER and/or any contractor of BUYER shall, prior to entry on the Real Property hereunder, obtain casualty/liability insurance in an amount satisfactory to SELLER, or to add SELLER to existing policies as a named insured, and provide SELLER with a certificate of insurance evidencing that SELLER is insured against any such loss. In the event that any inspection by BUYER or any consultant engaged by BUYER in connection with BUYER's due diligence results in any damage or disturbance to the Property or any other damage or disturbance, BUYER shall cause such consultant, or undertake itself, at no cost to SELLER, to repair promptly such damage and restore such Property to the condition it was in immediately prior to such inspection. If BUYER approves of the Data, BUYER shall deliver written notice to SELLER indicating BUYER's approval of the Data (the "Data Approval Notice") prior to the expiration of the Inspection Period. If BUYER fails to deliver the Data Approval Notice as aforesaid, the Data shall be deemed unsatisfactory to BUYER and this Agreement shall automatically terminate, in which event, Escrow Agent shall immediately return the Deposit, plus any accrued interest, to BUYER and the parties shall be released from any further obligations hereunder. In connection with BUYER's due diligence evaluations of the Property, SELLER agrees to furnish the following information to BUYER on the Effective Date (unless otherwise provided herein): 1. Current Rent Roll; 2. Monthly Financial Statements for the previous thirty-six (36) months; 3. Community Prospectus or comparable State required documents, if any; 4. Mobile Home Inventory List (None); 5. Previous Title Insurance Policy, if any; 6. Prior Survey, if any; 7. Liability Listing (contingent and non-contingent), if any; 8. Lists of all current and previous legal action (None); 9. Existing Environmental Phase I Report, if any; 10. True Copies of paid real estate and personal property tax bills for the previous three (3) years; 11. True Copies of Rental Increase Notices for previous three (3) years (None available; however, SELLER shall furnish BUYER an affidavit setting forth the rental increases for that period or verified rent rolls for those periods); 12. A statement confirming the number of occupied spaces, developed but unoccupied spaces, and undeveloped spaces and the net operating income ("NOI") for the year 1998 and NOI to date through the 30th of the month prior to the Acceptance Date; and 13. All leases and any amendments, certificates or incentive agreements pertaining thereto, will be available at the Property during the Inspection Period for review and copying by BUYER at its expense. The Inspection Period shall be extended one (1) day for each day after the Effective Date (unless otherwise provided herein) SELLER fails to provide the foregoing to BUYER. SELLER agrees to provide BUYER with all of the items set forth above for BUYER's review so that the only items left during the BUYER's Inspection Period shall be the remaining due diligence items pertaining to: the condition of the Property; zoning; code compliance; updated survey; updated title; termite report; and environmental report. SELLER acknowledges that if the residents of any of the mobile home parks elect to purchase their mobile home park through a statutory recognized residents' association, this Agreement shall be enforceable as to the remaining mobile home parks and should any statutory recognized residents' association elect to purchase their mobile home park, but then fails to close for any reason, this Agreement shall be deemed a back-up contract and the terms and conditions of this paragraph shall control upon the termination of the residents' contract.

BUYER'S INSPECTION PERIOD. BUYER shall have until the later of (i) forty-five (45) days after the Effective Date, or (ii) twenty (20) days after the date the SELLER has furnished the BUYER with all of the Data set forth below ("BUYER's Inspection Period"), during which time BUYER shall have the right to perform such due diligence evaluations as BUYER may reasonably require in connection with its evaluation of the Property, including, but not limited to, environmental, soils, flood plain, legal, financial and engineering studies (the "Data"), all at BUYER's sole cost and expense. BUYER hereby indemnifies and agrees to hold harmless and defend SELLER from and against any and all losses or claims for property damage or personal injury or any liability under any environmental or other law arising out of BUYER's inspections and BUYER and/or any contractor of BUYER shall, prior to entry on the Real Property hereunder, obtain casualty/liability insurance in an amount satisfactory to SELLER, or to add SELLER to existing policies as a named insured, and provide SELLER with a certificate of insurance evidencing that SELLER is insured against any such loss. In the event that any inspection by BUYER or any consultant engaged by BUYER in connection with BUYER's due diligence results in any damage or disturbance to the Property or any other damage or disturbance, BUYER shall cause such consultant, or undertake itself, at no cost to SELLER, to repair promptly such damage and restore such Property to the condition it was in immediately prior to such inspection. If BUYER approves of the Data, BUYER shall deliver written notice to SELLER indicating BUYER's approval of the Data (the "Data Approval Notice") prior to the expiration of the Inspection Period. If BUYER fails to deliver the Data Approval Notice as aforesaid, the Data shall be deemed unsatisfactory to BUYER and this Agreement shall automatically terminate, in which event, Escrow Agent shall immediately return the Deposit, plus any accrued interest, to BUYER and the parties shall be released from any further obligations hereunder. In connection with BUYER's due diligence evaluations of the Property, SELLER agrees to furnish the following information to BUYER on the Effective Date (unless otherwise provided herein): 1. Current Rent Roll; 2. Monthly Financial Statements for the previous thirty-thirty- six (36) months; 3. Community Prospectus or comparable State required documents, if any; 4. Mobile Home Inventory List (None); 5. Previous Title Insurance Policy, if any; 6. Prior Survey, if any; ; 7. Liability Listing (contingent and non-contingent), if any; 8. Lists of all current and previous legal action (None); 9. Existing Environmental Phase I Report, if any; 10. True Copies of paid real estate and personal property tax bills for the previous three (3) years; ; 11. True Copies of Rental Increase Notices for previous three (3) years (None available; however, SELLER shall furnish BUYER an affidavit setting forth the rental increases for that period or verified rent rolls for those periods); 12. A statement confirming the number of occupied spaces, developed but unoccupied spaces, and undeveloped spaces and the net operating income ("NOI") for the year 1998 and NOI to date through the 30th of the month prior to the Acceptance Date; and 13. All leases and any amendments, certificates certificates, or incentive agreements pertaining thereto, will be available at the Property during the Inspection Period for review and copying by BUYER at its expense. . The Inspection Period shall be extended one (1) day for each day after the Effective Date (unless otherwise provided herein) SELLER fails to provide the foregoing to BUYER. SELLER agrees to provide BUYER with all of the items set forth above for BUYER's review so that the only items left during the BUYER's Inspection Period shall be the remaining due diligence items pertaining to: the condition of the Property; zoning; code compliance; updated survey; updated title; termite report; and environmental report. SELLER acknowledges that if the residents of any of the mobile home parks elect to purchase their mobile home park through a statutory recognized residents' association, this Agreement shall be enforceable as to the remaining mobile home parks and should any statutory recognized residents' association elect to purchase their mobile home park, but then fails to close for any reason, this Agreement shall be deemed a back-up contract and the terms and conditions of this paragraph shall control upon the termination of the residents' contract.

BUYER'S INSPECTION PERIOD. BUYER shall have until the later of (i) forty-five (45) days after the Effective DateApril 15, or (ii) twenty (20) days after the date the SELLER has furnished the BUYER with all of the Data set forth below 1999 ("BUYER's Inspection Period"), during which time BUYER shall have the right to perform such due diligence evaluations as BUYER may reasonably require in connection with its evaluation of the Property, including, but not limited to, environmental, soils, flood plain, legal, financial and engineering studies (the "Data"), all at BUYER's sole cost and expense. BUYER hereby indemnifies and agrees to hold harmless and defend SELLER from and against any and all losses or claims for property damage or personal injury or any liability under any environmental or other law arising out of BUYER's inspections and BUYER and/or any contractor of BUYER shall, prior to entry on the Real Property hereunder, obtain casualty/liability insurance in an amount satisfactory to SELLER, or to add SELLER to existing policies as a named insured, and provide SELLER with a certificate of insurance evidencing that SELLER is insured against any such loss. In the event that any inspection by BUYER or any consultant engaged by BUYER in connection with BUYER's due diligence results in any damage or disturbance to the Property or any other damage or disturbance, BUYER shall cause such consultant, or undertake itself, at no cost to SELLER, to repair promptly such damage and restore such Property to the condition it was in immediately prior to such inspection. If BUYER approves of the Data, BUYER shall deliver written notice to SELLER indicating BUYER's approval of the Data (the "Data Approval Notice") prior to the expiration of the Inspection Period. If BUYER fails to deliver the Data Approval Notice as aforesaid, the Data shall be deemed unsatisfactory to BUYER and this Agreement shall automatically terminate, in which event, Escrow Agent shall immediately return the Deposit, plus any accrued interest, to BUYER and the parties shall be released from any further obligations hereunder. In connection with BUYER's due diligence evaluations of the Property, SELLER agrees to furnish the following information to BUYER on within five (5) days of the Effective Date (unless otherwise provided herein): 1. Current Rent Roll; 2. Monthly Financial Statements for the previous thirty-thirty- six (36) months; 3. Community Prospectus or comparable Statement of Policy, Rules and Regulations, form of Rental Agreement and other State required documents, if any; 4. Mobile Home Inventory List (None)List; 5. Previous Title Insurance Policy, if any; 6. Prior SurveySurvey or Development Plans, if any; reasonably available; 7. Liability Listing (contingent and non-contingent), if anyexcluding accounts payable in the ordinary course of business and the unsecured liability for the telephone installation (at Closing, SELLER shall represent and warrant that the Property is unencumbered other than current real estate taxes and the Permitted Exceptions); 8. Lists of all current and previous legal action (None)action; 9. Existing Environmental Phase I Report, Report (if any); 10. True Copies of paid real estate and personal property tax bills for the previous three (3) years; 11. True Copies of Rental Increase Notices for previous three (3) years (None available; however, SELLER shall furnish BUYER an affidavit setting forth the rental increases for that period or verified rent rolls for those periods); 12. A statement confirming the number of occupied spaces, developed but unoccupied spaces, and undeveloped spaces and the net operating income ("NOI") for the year 1998 and NOI to date through the 30th of the month prior to the Acceptance Date; and 13. All leases and any amendments, certificates or incentive agreements pertaining thereto, will be available at the Property during the Inspection Period for review and copying by BUYER at its expense. The Inspection Period shall be extended one (1) day for each day after the Effective Date (unless otherwise provided herein) SELLER fails to provide the foregoing to BUYER. SELLER agrees to provide BUYER with all of the items set forth above for BUYER's review so that the only items left during the BUYER's Inspection Period shall be the remaining due diligence items pertaining to: the condition of the Property; zoning; code compliance; updated survey; updated title; termite report; and environmental report. SELLER acknowledges that if the residents of any of the mobile home parks elect to purchase their mobile home park through a statutory recognized residents' association, this Agreement shall be enforceable as to the remaining mobile home parks and should any statutory recognized residents' association elect to purchase their mobile home park, but then fails to close for any reason, this Agreement shall be deemed a back-up contract and the terms and conditions of this paragraph shall control upon the termination of the residents' contractyears.

BUYER'S INSPECTION PERIOD. BUYER shall have until the later of a thirty (i30) forty-five day period (45"BUYER'S Inspection Period") days after the Effective Date, or (ii) twenty (20) days after commencing from the date the SELLER has furnished mailed the BUYER with all notice to the officers of the Data set forth below homeowners association ("BUYER's Inspection PeriodHOA") contemplated by Section 723.071(1)(c), Florida Statutes(the "Statutory Compliance") during which time BUYER shall have the right to perform such due diligence evaluations as BUYER may reasonably require in connection with its evaluation of the Property, including, but not limited to, environmental, soils, flood plain, legal, financial and engineering studies (the "Data"), all at BUYER's 'S sole cost and expense. BUYER hereby indemnifies and agrees to hold harmless and defend SELLER from and against any and all losses or claims for property damage or personal injury or any liability under any environmental or other law arising out of BUYER's inspections and BUYER and/or any contractor of BUYER shall, prior to entry on the Real Property hereunder, obtain casualty/liability insurance in an amount satisfactory to SELLER, or to add SELLER to existing policies as a named insured, and provide SELLER with a certificate of insurance evidencing that SELLER is insured against any such loss. In the event that any inspection by BUYER or any consultant engaged by BUYER in connection with BUYER's 'S due diligence results in any damage or disturbance to the Property or any other damage or disturbance, BUYER shall cause such consultant, or undertake itself, at no cost to SELLER, to repair promptly such damage and restore such Property to the condition it was in immediately prior to such inspectioninspection within 15 days after the damage occurs. If BUYER approves of the Data, BUYER shall deliver written notice to SELLER indicating BUYER's 'S approval of the Data (the "Data Approval Notice") prior to the expiration of the Inspection Period. If BUYER fails to deliver the Data Approval Notice as aforesaid, the Data shall be deemed unsatisfactory to BUYER and this Agreement shall automatically terminate, in which event, event Escrow Agent shall immediately return the Deposit, plus any accrued interest, to BUYER and the parties shall be released from any further obligations hereunder. In connection with BUYER's 'S due diligence evaluations of the Property, SELLER agrees to furnish the following information to BUYER on the Effective Date (unless otherwise provided herein): 1. Current Rent Roll; 2. Monthly Financial Statements for the previous thirty-six (36) months; 3. Community Prospectus or comparable State required documents, if any; 4. Mobile Home Inventory List (None)List; 5. Previous Title Insurance Policy, if any; ; 6. Prior Survey, if any; ; 7. Liability Listing (contingent and non-contingent), if any; 8. Lists of all current and previous legal action (None)lawsuits; 98. Existing Environmental Phase I Report, Report (if any); 109. True Copies of paid real estate and personal property tax bills for the previous three (3) years; 11. True 10.True Copies of Rental Increase Notices for previous three (3) years (None available; however, SELLER shall furnish BUYER an affidavit setting forth the rental increases for that period or verified rent rolls for those periods); 12. A statement confirming the number of occupied spaces, developed but unoccupied spaces, and undeveloped spaces and the net operating income ("NOI") for the year 1998 and NOI to date through the 30th of the month prior to the Acceptance Date; and 13. All leases and any amendments, certificates or incentive agreements pertaining thereto, will be available at the Property during the Inspection Period for review and copying by BUYER at its expenseyears. The Inspection Period shall be extended one (1) day for each day after the Effective Date (unless otherwise provided herein) SELLER fails to provide the foregoing to BUYER. SELLER agrees to provide BUYER with all of Should the items set forth above for BUYER's review so that the only items left during the BUYER's Inspection Period shall be the remaining due diligence items pertaining to: the condition of the Property; zoning; code compliance; updated survey; updated title; termite report; and environmental report. SELLER acknowledges that if the residents of HOA or any of the mobile home parks elect to purchase their mobile home park through a statutory recognized residents' association, this Agreement shall be enforceable as to the remaining mobile home parks and should any statutory other statutorily recognized residents' association elect to purchase their mobile home parkthe Property, but then fails to close for any reason, this Agreement shall be deemed a back-up contract and the terms and conditions of this paragraph shall control upon the termination of the residents' contract. BUYER'S right under this Agreement to conduct inspections and tests shall be subject to the following conditions and restrictions: A. If BUYER timely terminates this Agreement pursuant to this paragraph 8, all plans, correspondence, surveys, drawings, reports, audits and other materials obtained by or on behalf of BUYER with respect to the Property shall promptly be delivered to SELLER, without cost to SELLER, and shall become SELLER'S property. B. The right of entry granted hereby shall be subject to the rights of all tenants and occupants of the Property. BUYER and its employees, contractors, architects, engineers, agents and representatives shall take reasonable precautions so that BUYER'S inspections concerning the Property and operations thereon, and entries on the Property on BUYER'S behalf, shall cause minimum disruption to any parties in possession of the Property. Without limiting the foregoing, BUYER agrees to make no contact or communication with any tenant that in SELLER'S reasonable opinion may in any manner or for any reason interfere with, disrupt, or otherwise harm relations between SELLER and the tenant; and without prejudice to all other remedies available to SELLER, SELLER may, if it reasonably concludes that BUYER has violated this restriction, prohibit or restrict contacts or communications between BUYER (or its employees, agents, representatives, or other persons acting on behalf of or at the request of BUYER) and a tenant. Provided, however, BUYER shall be entitled to contact members of the Board of the Homeowners Association for the Property. In order that SELLER may protect its rights under, and enforce the requirements of, this provision, BUYER shall contact no tenant without first obtaining SELLER'S written consent to do so. C. BUYER, as a condition to its exercise of its right of entry, agrees to indemnify, defend and hold harmless SELLER from all fines, penalties, liens, losses, costs, claims, damages, liabilities and expenses, including reasonable attorneys fees and other costs and expenses incurred, sustained by, or asserted against SELLER arising from the exercise by BUYER, or any of its agents, of this right of entry. The foregoing indemnification provision shall survive the closing or the termination of this Agreement (for whatever reason). D. At all times before the closing, BUYER agrees to hold in strict confidence and not to disclose, or cause or allowed to be disclosed, to any person who is not an employee of BUYER without the prior written consent of SELLER, all information and documents including this Agreement in any way related to the Property or to the transactions contemplated by this Agreement, except as may be required by applicable law or as otherwise contemplated in this Agreement, and except to BUYER'S representatives, proposed lenders and elected officials of pertinent governmental authorities, legal and financial advisors, and other consultants, to the extent necessary for BUYER'S analysis of the Property or performance of this Agreement. Without limiting the foregoing confidentiality requirements, BUYER agrees that BUYER may use the Data concerning the Property provided or made available to BUYER pursuant to this Agreement only for the transactions contemplated in this Agreement and for no other purpose.

BUYER'S INSPECTION PERIOD. BUYER shall have until the later of a thirty (i30) forty-five (45) days after the Effective Date, or (ii) twenty (20) days after the date the SELLER has furnished the BUYER with all of the Data set forth below day period ("BUYER's Inspection Period")) commencing from the Effective Date , during which time BUYER shall have the right to perform such due diligence evaluations as BUYER may reasonably require in connection with its evaluation of the Property, including, but not limited to, environmental, soils, flood plain, legal, financial and engineering studies (the "Data")studies, all at BUYER's sole cost and expense. BUYER hereby indemnifies and agrees to hold harmless and defend SELLER from and against any and all losses or claims for property damage or personal injury or any liability under any environmental or other law arising out of BUYER's inspections and BUYER and/or any contractor of BUYER shall, prior to entry on the Real Property hereunder, obtain casualty/liability insurance in an amount satisfactory to SELLER, or to add SELLER to existing policies as a named insured, and provide SELLER with a certificate of insurance evidencing that SELLER is insured against any such loss. In the event that any inspection by BUYER or any consultant engaged by BUYER in connection with BUYER's due diligence results in any damage or disturbance to the Property or any other damage or disturbancedisturbance which any resident requires SELLER to repair, BUYER shall cause such consultant, or undertake itself, at no cost to SELLER, to repair promptly such damage and restore such Property to the condition it was in immediately prior to such inspection. If BUYER approves BUYER, in BUYER's reasonable judgment, believes the results of the Dataits due diligence investigation to be unsatisfactory, BUYER shall deliver may elect to terminate this Agreement of Sale by written notice to SELLER indicating delivered not later than the last day of BUYER's approval of the Data (the "Data Approval Notice") prior to the expiration of the Inspection Period. In such event, the Initial Deposit will be refunded to BUYER by Escrow Agent. If BUYER fails to deliver the Data Approval Notice notice of termination, as aforesaid, the Data BUYER shall be deemed unsatisfactory to BUYER and have irrevocably waived its right to terminate this Agreement of Sale pursuant to this paragraph 8, and shall automatically terminate, in which event, be obligated to pay to the Escrow Agent shall immediately return the Deposit, plus any accrued interest, to BUYER and the parties Additional Deposit described in paragraph 3(b). BUYER's Inspection Period shall be released from any further obligations hereunder. In connection extended one (1) day for each day SELLER fails to provide BUYER with BUYER's due diligence evaluations of the Property, SELLER agrees to furnish the following information to BUYER on the Effective Date (unless otherwise provided herein):following: 1. Current Rent Roll; 2. Monthly Financial Statements for the previous thirty-six (36) months; 3. Community Prospectus or comparable State required documents, if any; 4. Mobile Home Inventory List (None); 5. Previous Title Insurance Policy, if any; 65. Prior Survey, if any; 76. Liability Listing (contingent and non-contingent), if any; 87. Lists of all current and previous legal action (None)action; 98. Existing Environmental Phase I Report, Report (if any); 109. True Copies of paid real estate and personal property tax bills for the previous three (3) years; 1110. True Copies of Rental Increase Notices for previous three (3) years (None available; however, SELLER shall furnish BUYER an affidavit setting forth the rental increases for that period or verified rent rolls for those periods); 12. A statement confirming the number of occupied spaces, developed but unoccupied spaces, and undeveloped spaces and the net operating income ("NOI") for the year 1998 and NOI to date through the 30th of the month prior to the Acceptance Date; and 13. All leases and any amendments, certificates or incentive agreements pertaining thereto, will be available at the Property during the Inspection Period for review and copying by BUYER at its expense. The Inspection Period shall be extended one (1) day for each day after the Effective Date (unless otherwise provided herein) SELLER fails to provide the foregoing to BUYERyears. SELLER agrees to provide BUYER with all of the items set forth above for BUYER's review as soon as possible, but in no event later than ten (10) days after the Effective Date, so that the only items left during the BUYER's Inspection Period shall be the remaining due diligence items pertaining to: the condition of the Property; zoning; code compliance; updated survey; updated title; termite report; and environmental report. SELLER acknowledges that if the residents of any of the mobile home parks elect to purchase their mobile home park through a statutory recognized residents' association, this Agreement shall be enforceable as to the remaining mobile home parks and should any statutory recognized residents' association elect to purchase their mobile home park, but then fails to close for any reason, this Agreement shall be deemed a back-up contract and the terms and conditions of this paragraph shall control upon the termination of the residents' contractcontract and shall remain in full force and effect except the Closing shall be postponed. If such residents fail to close on their transaction, BUYER shall purchase the Real Property. If such residents close their transaction, this Agreement shall automatically terminate, in which event all parties shall be released from any further obligations hereunder except BUYER shall be entitled to an immediate refund of the Deposit plus accrued interest, if any, and SELLER shall reimburse BUYER for its reasonable expenses incurred in connection with this Agreement, including, but not limited to, attorneys fees and fees of third party consultants up to a maximum of $50,000.00.

BUYER'S INSPECTION PERIOD. BUYER shall have until the later of (i) forty-five (45) days after the Effective Date, or (ii) twenty (20) days after the date the SELLER has furnished the BUYER with all of the Data set forth below Closing Date ("BUYER's Inspection Period")) commencing from the Effective Date, during which time BUYER shall have the right to perform such due diligence evaluations as BUYER may reasonably require in connection with its evaluation of the Property, including, but not limited to, environmental, soils, flood plain, legal, financial and engineering studies (the "Data")studies, all at BUYER's sole cost and expense. BUYER hereby indemnifies and agrees to hold harmless and defend SELLER from and against any and all losses or claims for property damage or personal injury or any liability under any environmental or other law arising out of BUYER's inspections and BUYER and/or any contractor of BUYER shall, prior to entry on the Real Property hereunder, obtain casualty/liability insurance in an amount satisfactory to SELLER, or to add SELLER to existing policies as a named insured, and provide SELLER with a certificate of insurance evidencing that SELLER is insured against any such loss. In the event that any inspection by BUYER or any consultant engaged by BUYER in connection with BUYER's due diligence results in any damage or disturbance to the Property or any other damage or disturbancedisturbance which Tenant requires SELLER to repair, BUYER shall cause such consultant, or undertake itself, at no cost to SELLER, to repair promptly such damage and restore such Property to the condition it was in immediately prior to such inspection. If BUYER approves BUYER, in BUYER's reasonable judgment, believes the results of the Dataits due diligence investigation to be unsatisfactory, BUYER shall deliver may elect to terminate this Agreement of Sale by written notice to SELLER indicating delivered not later than the last day of BUYER's approval of the Data (the "Data Approval Notice") prior to the expiration of the Inspection Period. In such event, the Deposit will be refunded to BUYER by Escrow Agent. If BUYER fails to deliver the Data Approval Notice notice of termination, as aforesaid, the Data BUYER shall be deemed unsatisfactory to BUYER and have irrevocably waived its right to terminate this Agreement of Sale pursuant to this paragraph 8, and shall automatically terminate, in which event, be obligated to pay to the Escrow Agent shall immediately return the Deposit, plus any accrued interest, to BUYER and the parties Deposit described in paragraph 3(b). BUYER's Inspection Period shall be released from any further obligations hereunder. In connection extended one (1) day for each day SELLER fails to provide BUYER with BUYER's due diligence evaluations of the Property, SELLER agrees to furnish the following information to BUYER on the Effective Date (unless otherwise provided herein):following: 1. Current Rent Roll; 2. Monthly Financial Statements for the previous thirty-thirty- six (36) months; 3. Community Prospectus or comparable State required documents, if any; 4. Mobile Home Inventory List (None)List; 5. Previous Title Insurance Policy, if any; 6. Prior Survey, if any; 7. Liability Listing (contingent and non-contingent), if any; 8. Lists of all current and previous legal action (None); 9. Existing Environmental Phase I Report, if any; 10. True Copies of paid real estate and personal property tax bills for the previous three (3) years; 11. True Copies of Rental Increase Notices for previous three (3) years (None available; however, SELLER shall furnish BUYER an affidavit setting forth the rental increases for that period or verified rent rolls for those periods); 12. A statement confirming the number of occupied spaces, developed but unoccupied spaces, and undeveloped spaces and the net operating income ("NOI") for the year 1998 and NOI to date through the 30th of the month prior to the Acceptance Date; and 13. All leases and any amendments, certificates or incentive agreements pertaining thereto, will be available at the Property during the Inspection Period for review and copying by BUYER at its expense. The Inspection Period shall be extended one (1) day for each day after the Effective Date (unless otherwise provided herein) SELLER fails to provide the foregoing to BUYER. SELLER agrees to provide BUYER with all of the items set forth above for BUYER's review so that the only items left during the BUYER's Inspection Period shall be the remaining due diligence items pertaining to: the condition of the Property; zoning; code compliance; updated survey; updated title; termite report; and environmental report. SELLER acknowledges that if the residents of any of the mobile home parks elect to purchase their mobile home park through a statutory recognized residents' association, this Agreement shall be enforceable as to the remaining mobile home parks and should any statutory recognized residents' association elect to purchase their mobile home park, but then fails to close for any reason, this Agreement shall be deemed a back-up contract and the terms and conditions of this paragraph shall control upon the termination of the residents' contract.