Common use of Condition of Properties Clause in Contracts

Condition of Properties. To the best of Seller's knowledge, (i) the Improvements (including, without limitation, all heating, ventilating, air conditioning, electrical, elevator, plumbing and all other building systems (the "Building Systems"), roofs, exterior walls, windows and all other structural elements of the Properties (the "Structural Elements") are structurally sound and have been constructed in a good and workmanlike manner, are free from material defects, and there are no subsurface soil conditions adversely affecting the Properties; (ii) any parking on the Properties is sufficient for its current uses and satisfies all legal requirements, (iii) all streets and driveways necessary for access and utilization of the Properties are complete and available for use, (iv) the Properties include all easements necessary for their current use and there are no off-site facilities or rights needed for their operation or use; (v) all utilities servicing the Properties are adequate for the use and operation of the Properties as currently intended; (vi) the Properties are not located in any wetlands and no geological faults traverse the Properties, and (vii) the Properties are free from infestation by pests. Seller has not received any written notice of unsatisfied requests for repairs, restorations or improvements from any person, entity or authority (including, but not limited to, tenants, insurers, lenders or governmental agencies) with respect to the Properties. Seller has not received any written notice of complaints from adjoining property owners with respect to the Properties. In the event any such requests or complaints are received by Seller between the date of this Agreement and Closing, copies thereof shall be furnished to Purchaser, and if the cost to correct the matters referred to therein exceeds $25,000 then Purchaser may terminate this Agreement if Seller elects not to correct such matters.

Condition of Properties. To the best of Seller's knowledge, (i) the Improvements (including, without limitation, all heating, ventilating, air conditioning, electrical, elevator, plumbing and all other building systems (the "Building Systems"), roofs, exterior walls, windows and all other structural elements of the Properties (the "Structural Elements") are structurally sound and have been constructed in a good and workmanlike manner, are free from material defects, and there are no subsurface soil conditions adversely affecting the Properties; (ii) any parking on the Properties is sufficient for its current uses and satisfies all legal requirements, (iii) all streets and driveways necessary for access and utilization of the Properties are complete and available for use, (iv) the Properties include all easements necessary for their its current use and there are no off-site facilities or rights needed for their its operation or use; (v) all utilities servicing the Properties are adequate for the use and operation of the Properties as currently intended; (vi) the Properties are not located in any wetlands and no geological faults traverse the Properties, and (vii) the Properties are free from infestation by pests. Seller has not received any written notice of unsatisfied requests for repairs, restorations or improvements from any person, entity or authority (including, but not limited to, tenants, insurers, lenders or governmental agencies) with respect to the Properties. Seller has not received any written notice of complaints from adjoining property owners with respect to the Properties. In the event any such requests or complaints are received by Seller between the date of this Agreement and Closing, copies thereof shall be furnished to Purchaser, and if the cost to correct the matters referred to therein exceeds $25,000 then Purchaser may terminate this Agreement if Seller elects not to correct such matters.