Effect of COVID-19 or other Emergency. Purchaser understands and agrees that any deadline contained in this Agreement for Purchaser to object under or to terminate this Agreement are strict and absolute (including, without limitation, Purchaser’s right to terminate prior to the Termination Deadline pursuant to the second paragraph of this Agreement) and such deadline will not be extended or deemed extended due to any Purchaser inability to perform its review due to a Service Provider Delay or a Quarantine (each as defined in this Section below) or otherwise—Purchaser must timely object under this Agreement or must timely terminate this Agreement on or before the actual deadline date set forth in this Agreement and, if Purchaser elects not to so object or terminate, Purchaser’s corresponding right to object or terminate will be deemed wholly waived by Purchaser and thereafter void. PURCHASER UNDERSTANDS AND AGREES THAT THE STRICT NATURE OF THE DEADLINES HEREUNDER IS A VALID AND PROPER ALLOCATION OF RISK, ACKNOWLEDGING THAT PURCHASER’S UNILATERAL RIGHT TO OBJECT OR TERMINATE ON OR BEFORE THE APPLICABLE DEADLINE, EVEN IF PURCHASER IS UNABLE TO COMPLETE ITS REVIEW, IS SUFFICIENT PROTECTION OF PURCHASER’S RIGHTS. In the event, due to COVID‐19 or other health or safety emergency, that (a) a Service Provider Delay or a Quarantine occurs, and (b) such Service Provider Delay or Quarantine renders performance by either Purchaser or Seller of its Closing obligations under this Agreement legally “impossible” under Colorado law, the date of Closing shall be extended during the period of such impossibility of performance and Closing shall occur three (3) days after the date that the Service Provider Delay or Quarantine, as applicable, has ended. It is understood and agreed that the foregoing extension of Closing is not intended to permit an extension in the event that the emergency situation makes performance of a party’s Closing obligations merely more expensive or difficult or in the event that a party merely desires to take precautionary measures. For example, current Colorado law permits electronic signatures, electronic notary acknowledgments and electronic public record filings so as to accomplish a fully electronic, remote Closing and most lenders are offering fully remote loan closings and/or curbside closing services and, as such, the unavailability of face-to-face business dealings shall not effect an extension of Closing.
Effect of COVID-19 or other Emergency. In the event, due to COVID‐19 or other health or safety emergency, that (a) a Service Provider Delay or a Quarantine occurs, and (b) such Service Provider Delay or Quarantine renders performance by either Purchaser or Seller of its Closing obligations under this Agreement legally “impossible” under Colorado law, the date of Closing shall be extended during the period of such impossibility of performance and Closing shall occur three (3) days after the date that the Service Provider Delay or Quarantine, as applicable, has ended. It is understood and agreed that the foregoing extension of Closing is not intended to permit an extension in the event that the emergency situation makes performance of a party’s Closing obligations merely more expensive or difficult or in the event that a party merely desires to take precautionary measures. For example, current Colorado law permits electronic signatures, electronic notary acknowledgments and electronic public record filings so as to accomplish a fully electronic, remote Closing and most lenders are offering fully remote loan closings and/or curbside closing services and, as such, the unavailability of face-to-face business dealings shall not effect an extension of Closing.
