Common use of Certificate of Completion and Possession Clause in Contracts

Certificate of Completion and Possession. 6.3.1 The Purchaser agrees to meet the Vendor’s representative prior to the Closing Date to inspect and to list all items remaining uncompleted at the time of such inspection and mutually agreed deficiencies in the dwelling, on the Vendor’s certificate, which certificate shall be executed by both the Purchaser and the Vendor’s representative forthwith after such inspection, and shall constitute the Vendor’s only undertaking with respect to incomplete or deficient work or in respect of any aspect of the construction of the dwelling (the "Pre-delivery Inspection Form"). The Purchaser further agrees that the Vendor shall have the right to enter upon the Property after the Closing Date, if necessary, in order to complete such items as are included in the Pre-delivery Inspection Form. Such work shall be completed by the Vendor within a reasonable time after the Closing Date, having regard to weather conditions and the availability of supplies and labour. The Purchaser acknowledges and agrees that no further request for completion or correction of items may be maintained by the Purchaser, and this shall serve as a good and sufficient release of the Vendor in that regard. 6.3.2 It is understood and agreed that in no event shall the Purchaser be entitled to obtain possession of the Property unless and until the Purchaser has inspected the dwelling, and completed and executed the Pre-delivery Inspection Form. Failure by the Purchaser to complete an inspection of the dwelling and to complete and execute the Pre-delivery Inspection Form prior to the Closing Date, shall constitute default by the Purchaser hereunder and the Vendor may at its option, (and without prejudice to any other rights which the Vendor may have on the Purchaser’s default), terminate this Agreement and retain the deposit(s) paid by the Purchaser as liquidated damages and not as penalty.

Certificate of Completion and Possession. 6.3.1 The Purchaser agrees to meet the Vendor’s representative prior to the Closing Date to inspect and to list all items remaining uncompleted at the time of such inspection and mutually agreed deficiencies in the dwelling, on the Vendor’s certificate, which certificate shall be executed by both the Purchaser and the Vendor’s representative forthwith after such inspection, and shall constitute the Vendor’s only undertaking with respect to incomplete or deficient work or in respect of any aspect of the construction of the dwelling (the "Pre-delivery Inspection Form")dwelling. The Purchaser further agrees that the Vendor shall have the right to enter upon the Property property after the Closing DateClosing, if necessary, in order to complete such items as are included in the Pre-delivery Inspection FormCompletion Certificate. Such work shall be completed by the Vendor within a reasonable time after the Closing DateClosing, having regard to weather conditions and the availability of supplies and labour. The Purchaser acknowledges and agrees that no further request for completion or correction of items may be maintained by the Purchaser, and this shall serve as a good and sufficient release of the Vendor in that regard. 6.3.2 It is understood and agreed that in no event shall the Purchaser be entitled to obtain possession of the Property property unless and until the Purchaser has inspected the dwellingproperty, and completed and executed the Pre-delivery Inspection FormCompletion Certificate. Failure by the Purchaser to complete an inspection of the dwelling property and to complete and execute the Pre-delivery Inspection Form Completion Certificate prior to the Closing DateClosing, shall constitute default by the Purchaser hereunder and the Vendor may at its option, (and without prejudice to any other rights which the Vendor may have on the Purchaser’s default), terminate this Agreement and retain the deposit(s) paid by the Purchaser as liquidated damages and not as penalty.

Certificate of Completion and Possession. 6.3.1 The Purchaser agrees to meet the Vendor’s representative prior to the Closing Date to inspect and to list all items remaining uncompleted at the time of such inspection and mutually agreed deficiencies in the dwelling, on the Vendor’s certificate, which certificate shall be executed by both the Purchaser and the Vendor’s representative forthwith after such inspection, and shall constitute the Vendor’s only undertaking with respect to incomplete or deficient work or in respect of any aspect of the construction of the dwelling (the "Pre-delivery Inspection Form"). The Purchaser further agrees that the Vendor shall have the right to enter upon the Property after the Closing Date, if necessary, in order to complete such items as are included in the Pre-delivery Inspection Form. Such work shall be completed by the Vendor within a reasonable time after the Closing Date, having regard to weather conditions and the availability of supplies and labour. The Purchaser acknowledges and agrees that no further request for completion or correction of items may be maintained by the Purchaser, and this shall serve as a good and sufficient release of the Vendor in that regard. 6.3.2 It is understood and agreed that in no event shall the Purchaser be entitled to obtain possession of the Property unless and until the Purchaser has inspected the dwelling, and completed and executed the Pre-delivery Inspection Form. Failure by the Purchaser to complete an inspection of the dwelling and to complete and execute the Pre-delivery Inspection Form prior to the Closing Date, shall constitute default by the Purchaser hereunder and the Vendor may at its option, (and without prejudice to any other rights which the Vendor may have on the Purchaser’s default), terminate this Agreement and retain the deposit(s) paid by the Purchaser as liquidated damages and not as penalty. 6.3.3 The Vendor covenants and agrees to issue the TARION Certificate of Completion and Possession / Warranty Certificate (“CCP”) in favour of the Purchaser. The Vendor further covenants to deliver a copy of the TARION Home Owner Information Package to the Purchaser at or before the inspection referred to in Section 6.3.1 above. The Purchaser acknowledges that the CCP will be issued by the Vendor prior to or on the Closing Date and issuance of the CCP shall not be a condition of closing. The CCP, administered by TARION shall constitute the Vendor’s only warranty, express or implied, in respect of any aspect of construction of the dwelling and further shall be the full extent of the Vendor's liability for defects in materials or workmanship or damage, loss or injury of any sort, delay or otherwise with respect to the dwelling, the Property and the relationship between the Purchaser and the Vendor, whether arising in tort or in contract. The Purchaser is urged to review the CCP, particularly its exclusions, and to be aware that the Vendor is not liable for loss or damage to any landscaping, furnishing or improvement by the Purchaser caused either by any defect for which the Vendor is responsible or by the remedying of such defect.

Certificate of Completion and Possession. 6.3.1 The Purchaser agrees to meet the Vendor’s representative prior to the Closing Date to inspect and to list all items remaining uncompleted at the time of such inspection and mutually agreed deficiencies in the dwelling, on the Vendor’s certificate, which certificate shall be executed by both the Purchaser and the Vendor’s representative forthwith after such inspection, and shall constitute the Vendor’s only undertaking with respect to incomplete or deficient work or in respect of any aspect of the construction of the dwelling (the "Pre-delivery Inspection Form"). The Purchaser further agrees that the Vendor shall have the right to enter upon the Property after the Closing Date, if necessary, in order to complete such items as are included in the Pre-delivery Inspection Form. Such work shall be completed by the Vendor within a reasonable time after the Closing Date, having regard to weather conditions and the availability of supplies and labour. The Purchaser acknowledges and agrees that no further request for completion or correction of items may be maintained by the Purchaser, and this shall serve as a good and sufficient release of the Vendor in that regard.. DRAFT 6.3.2 It is understood and agreed that in no event shall the Purchaser be entitled to obtain possession of the Property unless and until the Purchaser has inspected the dwelling, and completed and executed the Pre-delivery Inspection Form. Failure by the Purchaser to complete an inspection of the dwelling and to complete and execute the Pre-delivery Inspection Form prior to the Closing Date, shall constitute default by the Purchaser hereunder and the Vendor may at its option, (and without prejudice to any other rights which the Vendor may have on the Purchaser’s default), terminate this Agreement and retain the deposit(s) paid by the Purchaser as liquidated damages and not as penalty.