DEFECT OR IRREGULARITY Sample Clauses
POPULAR SAMPLE Copied 1 times
DEFECT OR IRREGULARITY. Should the parties be notified, prior to the execution of the deed of sale, of any defect or irregularity affecting the titles, or in the case of non-‐compliance with any declaration of the Seller contained herein, the Seller shall, within twenty-‐one (21) consecutive days following receipt of written notice to that effect, notify the Buyer in writing: (i) that he has remedied the said defect, irregularity or non-‐compliance at his own expense; or (ii) that he is unable to remedy it. In the event that the Seller is unable to remedy the said defect, the Buyer may, within five (5) consecutive days following receipt of such notice, notify the Seller in writing: (i) that he is purchasing the property with the said defect, irregularity or non-‐compliance, in which case the Seller’s warranty shall be reduced accordingly; or (ii) that he renders this offer to purchase null and void, in which case the fees, expenses and disbursements incurred by each party shall be borne by each party respectively. Should the Buyer fail to notify the Seller within the above-‐mentioned time period, this offer to purchase shall become null and void, in which case the fees, expenses and disbursements incurred by each party shall be borne by each party respectively.
DEFECT OR IRREGULARITY. Should the BUYER or the SELLER be notified, before the signing of the deed of sale, of any defect or irregularity whatsoever affecting the declarations and obligations of the SELLER contained herein, the SELLER shall, within twenty-one (21) days following receipt of a written notice to that effect, notify the BUYER, in writing, that he either has remedied that defect or irregularity at his expense or that he will not remedy to it.
a) that he is purchasing the IMMOVABLE with the alleged defects or irregularities; therefore, the SELLER’s declarations and obligations shall be reduced accordingly;
b) that he renders this promise to purchase null and void; therefore, the fees, expenses and costs reasonably incurred until that time by any of the parties shall be borne only by the SELLER. Where the BUYER has not availed himself of the provisions of paragraphs a) or b) above within the specified period of time, this promise to purchase shall be null and void, in which case each party shall bear the fees, expenses and costs incurred by them respectively.