Common use of DEFECT OR IRREGULARITY Clause in Contracts

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 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 non-compliance with any declaration of the Seller contained herein, the Seller shall, within twenty-­‐one 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 non-compliance at his own expense; or (ii) that he is unable to will not remedy it. In the event that the Seller is unable to does not remedy the said defect, the Buyer may, within five (5) consecutive days following receipt of such the Seller’s notice, notify the Seller in writing: (i) that he is purchasing the property with the said defect, irregularity or non-­‐compliancenon-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 If the Buyer fail fails to notify the Seller within the above-­‐mentioned this five (5) day 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 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 non-compliance with any declaration of the Seller contained herein, the Seller shall, within twenty-­‐one 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 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-­‐compliancenon-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 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.