Completion of the Property. Purchasers Initial:
Completion of the Property. Seller shall construct and complete the Unit and have such improvements ready so as to permit normal occupancy with all necessary and customary utilities, within a period of twenty-four (24) months from the date that this Agreement is executed by Purchaser; provided, however, that said 24-month period shall be extended for any period during which completion has been delayed by matters and/or conditions which would be legally supportable in the State of Hawaii as an impossibility of performance for reasons beyond the control of the Seller. If there is a breach of this covenant, Purchaser shall have all rights at law and in equity, including the right to sue for specific performance, damages, and/or any and all other equitable or legal relief, and nothing in this Agreement or any other document shall be interpreted to in any way limit this right. The terms of this Section 14.1 shall control in the event of any conflict or discrepancy with any other terms or provisions of this Agreement or any other Project Documents including any other term or provision that could be interpreted or construed to in any way limit or affect the obligation of Seller under this Section, the intent being that the Seller’s obligation to build as set forth in this Section controls and no other term or provision is intended to limit such obligation. Purchaser acknowledges that Seller intends to utilize the statutory exemption from the registration requirements of the Interstate Land Sales Practices Act set forth at 15 U.S.C. 1702 and commonly known as the “completed lot” exemption. Xxxxxxxxx agrees that the use of the exemption will result in costs savings enabling Seller to pass the savings on to the Purchaser and in more certainty as to the timing for commencement and completion of construction and delivery of the Property to Purchaser.
Completion of the Property. It is the Intention of the parties that this sale qualifies for the exemption provided by 15 U.S.C. Section 1702(a) (2). And nothing herein contained shall be construed or operate, as to any obligations of Seller or rights of Purchaser, in a manner which would render said exemption inapplicable. Purchaser and Seller acknowledge their intention that the sale of the Property be exempt from the Interstate Land Sales Full Disclosure Act. Accordingly, Purchaser and Seller authorize any court which interprets this Contract to consider it most liberally so that such exemption is available. Notwithstanding anything in this Contract to the contrary, Seller shall be obligated to complete the Property no later than 24 months after the date of issuance of building permits, except for delays caused by acts of God or other matters that qualify under impossibility of performance principles recognized under the laws of the State of Virginia in which case the completion date shall be delayed by an amount of time equivalent to the delay caused by acts of God or impossibility of performance matters. Seller will use reasonable efforts to keep Purchaser informed of its construction schedule but cannot guarantee any specific completion date or construction schedule except as set forth in this Contract. Seller is not responsible for inconvenience, loss, expense or other consequences to Purchaser resulting from delays in construction completion provided that the Property Is completed within the time period set forth in this Section. Seller is not responsible for delays in the installation or service delays of telephone, cable television, mail or similar services at, or after Closing provided that all necessary ;md customary utilities are extended to the Property within the time period set forth in this Section.
Completion of the Property. 8.1 The Lessee cannot have any claims against the Contractor whatsoever regarding the completion of the building of the Property. The above said shall not reduce the Contractor’s duty pursuant to that stipulated in Section 10 below.
Completion of the Property
