Common use of Examination of Property Clause in Contracts

Examination of Property. (a) Upon making prior arrangements with the Seller, Buyer, its agents or employees may enter upon the Property for the purposes of inspecting the Property, conducting environmental, soil, engineering, structural and other tests as Buyer may deem necessary. Buyer shall restore the affected portion of the Property to its condition prior to the performance of such studies or inspections. Xxxxx agrees to indemnify, defend and hold the Seller harmless for, from and against any liability and/or damages caused by Xxxxx in exercising the foregoing license (unless arising from Seller’s gross negligence or willful misconduct), including, but not limited to any and all costs, expenses and attorneys; fees, through all mediation, arbitration, trial and appellate proceedings, and agrees that this obligation to indemnify shall survive any termination of this Agreement and the Closing. All expenses incurred in connection with the exercise of such license by Buyer shall be the responsibility of Buyer. (b) Notwithstanding any provisions to the contrary, Buyer may terminate this Agreement for any reason, by either delivering written notice of such termination to Seller on or before last day of the Feasibility Period. The period between the Opening Date and the date that is thirty (30) days thereafter shall be the “Feasibility Period.” If Buyer elects to terminate this Agreement on or before the expiration of the Feasibility Period, the Down Payment shall be returned to Buyer and neither party shall have any further rights or obligations hereunder except for those rights and obligations that survive termination of this Agreement or the Close of Escrow as provided in this Agreement.

Examination of Property. (a) Upon making prior arrangements with the Seller, Buyer, its agents or employees may enter upon the Property for the purposes of inspecting the Property, conducting environmental, soil, engineering, structural and other tests as Buyer may deem necessary. Buyer shall restore the affected portion of the Property to its condition prior to the performance of such studies or inspections. Xxxxx Buyer agrees to indemnify, defend and hold the Seller harmless for, from and against any liability and/or damages caused by Xxxxx Buyer in exercising the foregoing license (unless arising from Seller’s gross negligence or willful misconduct), including, but not limited to any and all costs, expenses and attorneys; fees, through all mediation, arbitration, trial and appellate proceedings, and agrees that this obligation to indemnify shall survive any termination of this Agreement and the ClosingClose of Escrow. All expenses incurred in connection with the exercise of such license by Buyer shall be the responsibility of Buyer. Prior to entry upon the Property, Buyer shall deliver to Seller a currently effective certificate of commercial general liability insurance with a minimum combined single limit of $1,000,000 and a minimum aggregate limit of $2,000,000. Seller shall be named an additional insured under such insurance policy and such policy shall not be cancellable without thirty days’ notice to Seller and shall be underwritten by an insurer reasonably acceptable to Seller. (b) Notwithstanding any provisions to the contrary, Buyer may terminate this Agreement for any reason, by either delivering written notice of such termination to Seller and Title Company on or before last day of the Feasibility Period. The period between the Opening Date of Escrow and the date that is thirty ninety (3090) days thereafter shall be the “Feasibility Period.” If Buyer elects to terminate this Agreement on or before pursuant to this Section 6.02(b) the expiration Title Company shall deliver the Xxxxxxx Money, less the sum of the Feasibility Period$5,000, the Down Payment shall to be returned paid to Seller as fair consideration for this Agreement (“Fair Consideration”) to Buyer without further notice to or from Seller and neither party shall have any further rights or obligations hereunder except for those rights and obligations that survive the termination of this Agreement or the Close of Escrow as provided in this Agreement.

Examination of Property. (a) Upon making prior arrangements with the Seller, Buyer, its agents or employees may enter upon the Property for the purposes of inspecting the Property, conducting environmental, soil, engineering, structural and other tests as Buyer may deem necessary. Buyer shall restore the affected portion of the Property to its condition prior to the performance of such studies or inspections. Xxxxx agrees to indemnify, defend and hold the Seller harmless for, from and against any liability and/or damages caused by Xxxxx in exercising the foregoing license (unless arising from Seller’s gross negligence or willful misconduct), including, but not limited to any and all costs, expenses and attorneys; attorney’s fees, through all mediation, arbitration, trial and appellate proceedings, and agrees that this obligation to indemnify shall survive any termination of this Agreement and the ClosingClose of Escrow. All expenses incurred in connection with the exercise of such license by Buyer shall be the responsibility of Buyer. (b) Notwithstanding any provisions to the contrary, Buyer may terminate this Agreement for any reason, by either delivering written notice of such termination to Seller and Title Company on or before last day of the Feasibility Period. The period between the Opening Date of Escrow and the date that is thirty sixty (3060) days thereafter shall be the “Feasibility Period.” If Buyer elects to terminate this Agreement on or before pursuant to this Section 6.02(b) the expiration of Title Company shall immediately deliver the Feasibility Period, the Down Payment shall be returned Xxxxxxx Money to Buyer without further notice to Seller and neither party shall have any further rights or obligations hereunder hereunder, except for those rights and obligations that survive the termination of this Agreement or the Close of Escrow as provided in this Agreement.

Examination of Property. (a) Upon making prior arrangements with the Seller, Buyer, its agents or employees may enter upon the Property for the purposes of inspecting the Property, conducting environmental, soil, engineering, structural and other tests as Buyer may deem necessary. If any such studies or inspections involve boring or other invasive examinations, Buyer shall restore the affected portion of the Property to its condition prior to the performance of such studies or inspections. Xxxxx Buyer agrees to indemnify, defend indemnify and hold the Seller harmless for, from and against any liability and/or damages caused by Xxxxx Buyer in exercising the foregoing license (unless arising from Seller’s gross negligence or willful misconduct), including, but not limited to any and all costs, expenses and attorneys; fees, through all mediation, arbitration, trial and appellate proceedings, and agrees that this obligation obligations to indemnify shall survive any termination of this Agreement and the ClosingClose of Escrow. All expenses incurred in connection with the exercise of such license by Buyer shall be the responsibility of Buyer. (b) Notwithstanding any provisions herein to the contrary, should Buyer determine, in its sole discretion, that the Property is not suitable for Buyer’s use for any reasons whatsoever, Buyer may terminate this Agreement for any reason, by either delivering written notice of such termination to Seller and Title Company on or before last day of the Feasibility Period5:00p.m. M.S.T. on December 22, 2008. The period between the Opening Date of Escrow and the last date that on which Buyer may terminate this Agreement in accordance with the provisions of this Section 6.02(b) is thirty herein called feasibility period (30) days thereafter shall be the “Feasibility Period.” ”), and the last date of the Feasibility Period is called the termination date (“Termination Date”). If Buyer elects to terminate this Agreement on or before the expiration of the Feasibility Periodpursuant to this Section 6.02(b), the Down Payment Title Company shall be returned deliver the Xxxxxxx Money to Buyer without further notice to or from Seller and neither party shall thereafter have any further rights or obligations hereunder except for those rights and obligations that survive termination of this Agreement or the Close of Escrow as provided in this Agreementhereunder.

Examination of Property. (a) Upon making prior arrangements with the Seller, Buyer, its agents or employees may enter upon the Property for the purposes of inspecting the Property, conducting environmental, soil, engineering, structural and other tests as Buyer may deem necessary. Buyer shall restore the affected portion of the Property to its condition prior to the performance of such studies or inspections. Xxxxx agrees to indemnify, defend and hold the Seller harmless for, from and against any liability and/or damages caused by Xxxxx in exercising the foregoing license (unless arising from Seller’s gross negligence or willful misconduct), including, but not limited to any and all costs, expenses and attorneys; fees, through all mediation, arbitration, trial and appellate proceedings, and agrees that this obligation to indemnify shall survive any termination of this Agreement and the Closing. Notwithstanding the foregoing, Buyer shall not be liable merely for the discovery of a pre-existing condition at the Property. All expenses incurred in connection with the exercise of such license by Buyer shall be the responsibility of Buyer. (b) The period between the Opening of Escrow and the date that is sixty (60) days thereafter shall be the feasibility period (“Feasibility Period”). Notwithstanding any provisions to the contrary, Buyer may terminate this Agreement for any reason, by either delivering written notice of such termination to Seller on or before last day of the Feasibility Period. The period between the Opening Date and the date that is thirty (30) days thereafter shall be the “Feasibility Period.” If Buyer elects to terminate this Agreement on or before the expiration of the Feasibility Period, the Down Payment shall be returned to Buyer and neither party shall have any further rights or obligations hereunder except for those rights and obligations that survive termination of this Agreement or the Close of Escrow as provided in this Agreement.

Examination of Property. (a) Upon making giving prior arrangements with notice to the Seller, Buyer, its agents or employees may enter upon the Property for the purposes of inspecting the Property, conducting environmental, soil, engineering, structural and other tests as Buyer may deem necessary. Buyer shall restore the affected portion of the Property to its condition prior to the performance of such studies or inspections. Xxxxx Buyer agrees to indemnify, defend and hold the Seller harmless for, from and against any liability and/or damages caused by Xxxxx Buyer in exercising the foregoing license (unless arising from Seller’s gross negligence or willful misconduct), including, but not limited to any and all costs, expenses and attorneys; fees, through all mediation, arbitration, trial and appellate proceedings, and agrees that this obligation to indemnify shall survive any termination of this Agreement and the ClosingClose of Escrow. All expenses incurred in connection with the exercise of such license by Buyer shall be the responsibility of Buyer. (b) Notwithstanding any provisions herein to the contrary, Buyer may terminate this Agreement Agreement, for any reason, by either delivering written notice of such termination to the Seller and Title Company on or before last the sixtieth (60th) day following the later of (x) the Feasibility PeriodOpening of Escrow and (y) Seller’s notice to the Buyer that it has delivered all Property Information. The period between the Opening Date of Escrow and the last date that on which Buyer may terminate this Agreement in accordance with the provisions of this Section 6.02(b) is thirty herein called feasibility period (30) days thereafter shall be the “Feasibility Period.” ”). If Buyer elects to terminate this Agreement on or before the expiration of the Feasibility Periodpursuant to this Section 6.02(b), the Down Payment Title Company shall be returned deliver the Xxxxxxx Money to Buyer without further notice to or from the Seller and neither party shall thereafter have any further rights or obligations hereunder except for those rights and obligations that survive termination of this Agreement or the Close of Escrow as provided in this Agreement. Buyer may extend the Feasibility Period, at its sole discretion, for up to three (3) additional periods of thirty (30) days each by providing prior written notice to Seller, along with an extension fee of Ten Thousand and 00/100 ($10,000.00) (each, an “Extension Fee”) per each thirty (30) day extension. The Extension Fee(s) will be credited toward the Purchase Price if the transaction contemplated hereby is consummated in accordance with the terms and provisions hereof. If the transaction is not so consummated for any reason which entitles the Seller to payment of the Xxxxxxx Money, then any Extension Fee paid or owed by Buyer (because it exercised an extension option but did not pay the Extension Fee) shall be delivered to Seller by the Title Company without further notice to or from the Buyer. If this Agreement is terminated for reasons which entitle the Buyer to a refund of the Xxxxxxx Money, then all amounts theretofore paid on account of Extension Fees shall also be refunded to the Buyer.

Examination of Property. (a) Upon making prior arrangements with the Seller, Buyer, its agents or employees may enter upon the Property for the purposes of inspecting the Property, conducting environmental, soil, engineering, structural and other tests as Buyer may deem necessary. Buyer shall restore the affected portion of the Property to its condition prior to the performance of such studies or inspections. Xxxxx Buyer agrees to indemnify, defend and hold the Seller harmless for, from and against any liability and/or damages caused by Xxxxx Buyer in exercising the foregoing license (unless arising from Seller’s gross negligence or willful misconduct), including, but not limited to any and all costs, expenses and attorneys; fees, through all mediation, arbitration, trial and appellate proceedings, and agrees that this obligation to indemnify shall survive any termination of this Agreement and the ClosingClose of Escrow. All expenses incurred in connection with the exercise of such license by Buyer shall be the responsibility of Buyer. (b) Notwithstanding any provisions to the contrary, Buyer may terminate this Agreement for any reason, by either delivering written notice of such termination to Seller and Title Company on or before last day of the Feasibility Period. The period between the Opening Date of Escrow and the date that is thirty sixty (3060) days thereafter shall be the “Feasibility Period.” If Buyer elects to terminate this Agreement on pursuant to this Section 6.02 the Title Company shall deliver the Deposit and Xxxxxxx Money to be paid to Seller as fair consideration for this Agreement (“Fair Consideration”) without further notice to or before the expiration of the Feasibility Period, the Down Payment shall be returned to Buyer from Seller and neither party shall have any further rights or obligations hereunder hereunder, except for those rights and obligations that survive termination of this Agreement or the Close of Escrow as otherwise provided in this Agreement.