Common use of Inspection and Examination Clause in Contracts

Inspection and Examination. Buyer and Buyer’s Agents have been given the right to (i) perform non-invasive physical tests (except that, upon Sellers’ prior written consent, which consent may be withheld in Sellers’ sole and absolute discretion, Buyer may perform minor intrusive testing to determine the presence of asbestos-containing materials, termites and other wood destroying insects, provided that all damage resulting therefrom is promptly repaired by Buyer at its sole expense (the “Repair Obligation”)); (ii) conduct any and all necessary engineering, environmental and other inspections at the Property and examine and evaluate the Review Materials and all other relevant agreements and documents within the possession of Sellers or subject to their control, as Buyer may reasonably request; and (iii) contact governmental agencies concerning the Financial Agreement and any incentives available under the Grow N.J. Program and obtain governmental records and documents on the Property. Buyer is satisfied, in its sole discretion with the results of its investigation and evaluation of the Property, and, accordingly, Buyer accepts the Property. Buyer shall have the ongoing right to continue its investigation and evaluation of the Property, but Buyer shall not have the right to terminate this Agreement as a result of any further investigations or evaluation. The following provisions shall apply to Buyer’s prior investigation and evaluation of the Property and any future investigation and evaluation. No soil and/or ground water sampling shall be performed unless and until the location, scope and methodology of such sampling and the environmental consultant selected by Buyer to perform such sampling have all been approved by Sellers. Prior to conducting any such sampling, Buyer shall have a utility xxxx-out performed for the Property. Copies of all environmental and engineering reports prepared by or on behalf of Buyer with respect to the Property shall be provided promptly to Sellers upon request (the “Report Obligation”). With respect to Buyer’s right to inspect the Property, Buyer agrees that (i) Sellers shall receive at least forty-eight (48) hours’ prior written notice of each inspection, (ii) each inspection shall be performed during normal business hours or at such other times as Sellers and Buyer shall mutually agree and shall be subject to any special limitations on access to certain areas of the Property arising under the Occupancy Leases, (iii) Buyer and Buyer’s Agents shall not unreasonably interfere with the tenants, subtenants, guests, employees, occupants of the Property and the operation thereof, and (iv) Buyer and Buyer’s Agents shall fully comply with all applicable Laws and Regulations (hereinafter defined) of all governmental authorities having jurisdiction with respect to Buyer’s investigations on the Property and all its other activities undertaken in connection therewith; and (v) Buyer shall not permit any mechanics’ liens to be filed against the Property or any part thereof relating to the inspections performed on behalf of Buyer. Buyer or Buyer’s Agents shall not perform any such inspection or examination unless accompanied by Sellers or a representative of the Property Manager. The Repair Obligation and the Report Obligation shall survive the termination of this Agreement. Prior to any entry by Buyer or Buyer’s Agents on the Property to conduct the inspections and tests described above, Buyer shall obtain and maintain, at Buyer’s sole cost and expense, and shall deliver to Sellers evidence thereof (including, without limitation, a copy of a certificate evidencing each such insurance policy): (1) commercial general liability insurance, from an insurer reasonably acceptable to Sellers, in the amount of TWO MILLION and 00/100 Dollars ($2,000,000.00) combined single limit for personal injury and property damage per occurrence, such policy to name each of Sellers, CSP Operating Partnership, LP and Property Manager as an additional insured party, which insurance shall provide coverage against any claim for personal liability or property damage resulting from the inspections, tests, access to the Property or other activities of Buyer and Buyer’s Agents in connection with the performance of its due diligence; (2) property insurance insuring Buyer’s equipment against all perils; and (3) workers’ compensation insurance in amounts required by law. Buyer’s commercial general liability insurance shall be written on an occurrence basis, shall include a contractual liability endorsement that insures the Repair Obligation and Buyer’s indemnity obligations hereunder, and shall contain a waiver of subrogation provision consistent with the terms of this Section. Buyer hereby represents and warrants that it carries the insurance required under this Section. Sellers from time to time may establish reasonable rules of conduct for Buyer and Buyer’s agents in furtherance of the terms of this Section 6.1. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN THIS AGREEMENT, BUYER HEREBY WAIVES ANY AND ALL RIGHTS OF RECOVERY, CLAIM, ACTION OR CAUSE OF ACTION AGAINST SELLERS, THEIR AGENTS, EMPLOYEES, OFFICERS, DIRECTORS, PARTNERS, MEMBERS, SERVANTS OR SHAREHOLDERS FOR ANY LOSS OR DAMAGE TO BUYER’S PROPERTY BY REASON OF FIRE, THE ELEMENTS, OR ANY OTHER CAUSE WHICH IS COVERED OR COULD BE COVERED BY STANDARD “ALL-RISKS” PROPERTY INSURANCE, REGARDLESS OF CAUSE OR ORIGIN, INCLUDING NEGLIGENCE OF SELLERS, THEIR AGENTS, EMPLOYEES, OFFICERS, DIRECTORS, PARTNERS, MEMBERS, SERVANTS OR SHAREHOLDERS.

Inspection and Examination. During the period extending to and -------------------------- including the date that is sixty (60) days after the date hereof (the "Due Diligence Period"), Buyer and Buyer’s Agents have been 's agents will be given the right to (i) perform non-invasive nondestructive physical tests (except that, upon Sellers’ prior written consent, which consent may be withheld in Sellers’ sole and absolute discretion, that Buyer may perform minor intrusive testing to determine the presence of asbestos-containing materials, termites and other wood destroying insects), provided that all damage resulting therefrom is promptly repaired by Buyer at its sole expense (the “Repair Obligation”)); and (ii) conduct any and all necessary engineering, environmental and other inspections at the Property including test borings to the concrete slab of the Building and examine and evaluate the Review Materials and all other relevant agreements and documents within the possession of Sellers Seller or subject to their its control, as Buyer may reasonably request; and (iii) contact governmental agencies concerning the Financial Agreement and any incentives available under the Grow N.J. Program and obtain governmental records and documents on the Property. , provided that all damage resulting therefrom is promptly repaired by Buyer is satisfied, in at its sole discretion with the results of its investigation and evaluation of the Property, and, accordingly, Buyer accepts the Property. Buyer shall have the ongoing right to continue its investigation and evaluation of the Property, but Buyer shall not have the right to terminate this Agreement as a result of any further investigations or evaluation. The following provisions shall apply to Buyer’s prior investigation and evaluation of the Property and any future investigation and evaluationexpense. No soil and/or ground water sampling shall be performed unless and until the location, scope and methodology of such sampling and the environmental consultant selected by Buyer to perform such sampling have all been approved by SellersSeller, which approval shall not be unreasonably withheld or delayed. Prior to conducting any such sampling, Buyer shall have a utility xxxxmark-out performed for the Property. Copies Seller acknowledges that Buyer sxxxx have the right to perform testing of all environmental and engineering reports prepared by any underground or above ground storage tanks on behalf or beneath the Property, and, if necessary, perform soil sampling of Buyer with respect to the Property shall be provided promptly to Sellers upon request (the “Report Obligation”)adjoining areas in connection therewith. With respect to Buyer’s 's right to inspect the Property, Buyer agrees that (i) Sellers Seller shall receive at least not less than forty-eight (48) hours’ hours prior written notice of each inspection, (ii) each inspection shall be performed during normal business hours or at such other times as Sellers Seller and Buyer shall mutually agree and shall be subject to any special limitations on access to certain areas of the Property arising under the Occupancy Leases, (iii) Buyer and Buyer’s Agents 's agents shall not unreasonably interfere with use all reasonable efforts to minimize any disruption to the tenants, subtenants, guests, employees, occupants of the Property and the operation thereof, and (iv) Buyer and Buyer’s Agents shall fully comply with all applicable Laws and Regulations (hereinafter defined) of all governmental authorities having jurisdiction with respect to Buyer’s investigations on the Property and all its other activities undertaken in connection therewith; and (v) Buyer shall not permit any mechanics’ liens to be filed against the Property or any part thereof relating to the inspections performed on behalf of Buyer. Buyer or Buyer’s Agents 's agents shall not perform any such inspection or examination unless accompanied by Sellers Seller or a representative its designee. Buyer's repair obligation set forth in the first sentence of the Property Manager. The Repair Obligation and the Report Obligation this Section shall survive the termination of this Agreement. Prior to any entry by Buyer or Buyer’s Agents on the Property to conduct the inspections and tests described above, Buyer shall obtain and maintain, at Buyer’s sole cost and expense, and shall deliver to Sellers evidence thereof (including, without limitation, a copy of a certificate evidencing each such insurance policy): (1) commercial general liability insurance, from an insurer reasonably acceptable to Sellers, in the amount of TWO MILLION and 00/100 Dollars ($2,000,000.00) combined single limit for personal injury and property damage per occurrence, such policy to name each of Sellers, CSP Operating Partnership, LP and Property Manager as an additional insured party, which insurance shall provide coverage against any claim for personal liability or property damage resulting from the inspections, tests, access to the Property or other activities of Buyer and Buyer’s Agents in connection with the performance of its due diligence; (2) property insurance insuring Buyer’s equipment against all perils; and (3) workers’ compensation insurance in amounts required by law. Buyer’s commercial general liability insurance shall be written on an occurrence basis, shall include a contractual liability endorsement that insures the Repair Obligation and Buyer’s indemnity obligations hereunder, and shall contain a waiver of subrogation provision consistent with the terms of this Section. Buyer hereby represents and warrants that it carries the insurance required under this Section. Sellers from time to time may establish reasonable rules of conduct for Buyer and Buyer’s agents in furtherance of the terms of this Section 6.1. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN THIS AGREEMENT, BUYER HEREBY WAIVES ANY AND ALL RIGHTS OF RECOVERY, CLAIM, ACTION OR CAUSE OF ACTION AGAINST SELLERS, THEIR AGENTS, EMPLOYEES, OFFICERS, DIRECTORS, PARTNERS, MEMBERS, SERVANTS OR SHAREHOLDERS FOR ANY LOSS OR DAMAGE TO BUYER’S PROPERTY BY REASON OF FIRE, THE ELEMENTS, OR ANY OTHER CAUSE WHICH IS COVERED OR COULD BE COVERED BY STANDARD “ALL-RISKS” PROPERTY INSURANCE, REGARDLESS OF CAUSE OR ORIGIN, INCLUDING NEGLIGENCE OF SELLERS, THEIR AGENTS, EMPLOYEES, OFFICERS, DIRECTORS, PARTNERS, MEMBERS, SERVANTS OR SHAREHOLDERS.

Inspection and Examination. During the period extending to and including July 15, 1998 (the "Due Diligence Period"), Buyer and Buyer’s 's Agents have been will be given the right to (i) perform non-invasive nondestructive physical tests (except that, upon Sellers’ prior written consent, which consent may be withheld in Sellers’ sole and absolute discretion, that Buyer may perform minor intrusive testing to determine the presence of asbestos-containing materials, termites and other wood destroying insects, provided that all damage resulting therefrom is promptly repaired by Buyer at its sole expense (the “Repair Obligation”)); expense) and (ii) conduct any and all necessary engineering, environmental and other inspections at the Property and examine and evaluate the Review Materials and all other relevant agreements and documents within the possession of Sellers Seller or subject to their its control, as Buyer may reasonably request; and (iii) contact governmental agencies concerning the Financial Agreement and any incentives available under the Grow N.J. Program and obtain governmental records and documents on the Property. Buyer is satisfied, in its sole discretion with the results of its investigation and evaluation of the Property, and, accordingly, Buyer accepts the Property. Buyer shall have the ongoing right to continue its investigation and evaluation of the Property, but Buyer shall not have the right to terminate this Agreement as a result of any further investigations or evaluation. The following provisions shall apply to Buyer’s prior investigation and evaluation of the Property and any future investigation and evaluation. No soil and/or ground water sampling shall be performed unless and until the location, scope and methodology of such sampling and the environmental consultant selected by Buyer to perform such sampling have all been approved by SellersSeller, which approval shall not be unreasonably withheld or delayed. Prior to conducting any such sampling, Buyer shall have a utility xxxxmxxx-out performed for the Property. Copies of all environmental and engineering reports prepared by or on behalf of Buyer with respect to the Property shall be provided promptly to Sellers upon request (the “Report Obligation”)Seller. With respect to Buyer’s 's right to inspect the Property, Buyer agrees that (i) Sellers Seller shall receive at least not less than forty-eight (48) hours’ hours prior written notice of each inspection, (ii) each inspection shall be performed during normal business hours or at such other times as Sellers Seller and Buyer shall mutually agree and shall be subject to any special limitations on access to certain areas of the Property arising under the Occupancy Leases, (iii) Buyer and Buyer’s 's Agents shall not unreasonably interfere with use all reasonable efforts to minimize any disruption to the tenants, subtenants, guests, employees, occupants of the Property and the operation thereof. Seller or its designee shall have the right, and (iv) Buyer and Buyer’s Agents shall fully comply with all applicable Laws and Regulations (hereinafter defined) of all governmental authorities having jurisdiction with respect but not the obligation, to Buyer’s investigations on the Property and all its other activities undertaken in connection therewith; and (v) Buyer shall not permit any mechanics’ liens to be filed against the Property or any part thereof relating to the inspections performed on behalf of Buyer. accompany Buyer or Buyer’s 's Agents shall not perform any during each such inspection or examination unless accompanied by Sellers or a representative examination. Buyer's repair obligation set forth in the first sentence of this Section and its obligation to provide environmental and engineering reports set forth in the Property Manager. The Repair Obligation and the Report Obligation fourth sentence of this Section shall survive the termination of this Agreement. Prior to any entry by Buyer or Buyer’s Agents on the Property to conduct the inspections and tests described above, Buyer shall obtain and maintain, at Buyer’s sole cost and expense, and shall deliver to Sellers evidence thereof (including, without limitation, a copy of a certificate evidencing each such insurance policy): (1) commercial general liability insurance, from an insurer reasonably acceptable to Sellers, in the amount of TWO MILLION and 00/100 Dollars ($2,000,000.00) combined single limit for personal injury and property damage per occurrence, such policy to name each of Sellers, CSP Operating Partnership, LP and Property Manager as an additional insured party, which insurance shall provide coverage against any claim for personal liability or property damage resulting from the inspections, tests, access to the Property or other activities of Buyer and Buyer’s Agents in connection with the performance of its due diligence; (2) property insurance insuring Buyer’s equipment against all perils; and (3) workers’ compensation insurance in amounts required by law. Buyer’s commercial general liability insurance shall be written on an occurrence basis, shall include a contractual liability endorsement that insures the Repair Obligation and Buyer’s indemnity obligations hereunder, and shall contain a waiver of subrogation provision consistent with the terms of this Section. Buyer hereby represents and warrants that it carries the insurance required under this Section. Sellers from time to time may establish reasonable rules of conduct for Buyer and Buyer’s agents in furtherance of the terms of this Section 6.1. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN THIS AGREEMENT, BUYER HEREBY WAIVES ANY AND ALL RIGHTS OF RECOVERY, CLAIM, ACTION OR CAUSE OF ACTION AGAINST SELLERS, THEIR AGENTS, EMPLOYEES, OFFICERS, DIRECTORS, PARTNERS, MEMBERS, SERVANTS OR SHAREHOLDERS FOR ANY LOSS OR DAMAGE TO BUYER’S PROPERTY BY REASON OF FIRE, THE ELEMENTS, OR ANY OTHER CAUSE WHICH IS COVERED OR COULD BE COVERED BY STANDARD “ALL-RISKS” PROPERTY INSURANCE, REGARDLESS OF CAUSE OR ORIGIN, INCLUDING NEGLIGENCE OF SELLERS, THEIR AGENTS, EMPLOYEES, OFFICERS, DIRECTORS, PARTNERS, MEMBERS, SERVANTS OR SHAREHOLDERS.

Inspection and Examination. During the term of this Agreement, Buyer and Buyer’s Agents have been will be given the right to (i) perform non-invasive nondestructive and noninvasive physical tests (except that, upon Sellers’ prior written consent, which consent may be withheld in Sellers’ sole and absolute discretion, that Buyer may perform minor intrusive testing to determine the presence of asbestos-containing materials, termites and other wood destroying insects, provided that all damage resulting therefrom is promptly repaired by Buyer at its sole expense (the “Repair Obligation”)); , (ii) conduct any and all necessary engineering, environmental and other inspections at the Property (which may not be destructive or invasive), and (iii) examine and evaluate the Review Materials and all other relevant agreements and documents within the possession of Sellers Seller or subject to their controlits control relating to the operation of the Property, as Buyer may reasonably request; provided in no event may any inspections or testing be invasive or destructive unless such inspections or testing have been approved in advance in writing by Seller, which approval may be granted or withheld in Seller’s sole and (iii) contact governmental agencies concerning the Financial Agreement and any incentives available under the Grow N.J. Program and obtain governmental records and documents on the Property. Buyer is satisfied, in its sole discretion with the results of its investigation and evaluation of the Property, and, accordingly, Buyer accepts the Property. Buyer shall have the ongoing right to continue its investigation and evaluation of the Property, but Buyer shall not have the right to terminate this Agreement as a result of any further investigations or evaluation. The following provisions shall apply to Buyer’s prior investigation and evaluation of the Property and any future investigation and evaluationabsolute discretion. No soil and/or ground water sampling shall be performed unless and until the location, scope and methodology of such sampling and the environmental consultant selected by Buyer to perform such sampling have all been approved by SellersSeller, which approval may be granted or withheld in Seller’s sole and absolute discretion. Prior to conducting any such sampling, Buyer shall have a utility xxxx-out performed for the Property. Copies of all environmental and engineering reports prepared by or on behalf of Buyer with respect to the Property shall be provided promptly to Sellers Seller upon request (the “Report Obligation”). With respect to Buyer’s right to inspect the Property, Buyer agrees that (i) Sellers Seller shall receive at least forty-eight (48) hours’ prior written notice of each inspection, (ii) each inspection shall be performed during normal business hours or at such other times as Sellers Seller and Buyer shall mutually agree and shall be subject to any special limitations on access to certain areas of the Property arising under the Occupancy Leases, Existing Leases and (iii) Buyer and Buyer’s Agents shall not unreasonably interfere with use all reasonable efforts to minimize any disruption to the tenants, subtenants, guests, employees, occupants of the Property and the operation thereof, and (iv) Buyer and Buyer’s Agents shall fully comply with all applicable Laws and Regulations (hereinafter defined) of all governmental authorities having jurisdiction with respect to Buyer’s investigations on the Property and all its other activities undertaken in connection therewith; and (v) Buyer shall not permit any mechanics’ liens to be filed against the Property or any part thereof relating to the inspections performed on behalf of Buyer. Buyer or Buyer’s Agents shall not perform any such inspection or examination unless accompanied by Sellers or a representative of the Property ManagerSeller. The Repair Obligation and the Report Obligation shall survive the termination of this Agreement. Prior to any entry by Buyer or Buyer’s Agents on the Property to conduct the inspections and tests described above, Buyer shall obtain and maintain, at Buyer’s sole cost and expense, and shall deliver to Sellers Seller evidence thereof (includingthereof, without limitation, a copy of a certificate evidencing each such insurance policy): (1) commercial general liability insurance, from an insurer reasonably acceptable to SellersSeller, in the amount of TWO MILLION and 00/100 Dollars ($2,000,000.00) combined single limit for personal injury and property damage per occurrence, such policy to name each of Sellers, CSP Operating Partnership, LP and Property Manager Seller as an additional insured party, which insurance shall provide coverage against any claim for personal liability or property damage resulting from the inspections, tests, access to the Property or other activities of such inspections and tests by Buyer and Buyer’s Agents in connection with the performance of its due diligence; (2) property insurance insuring Buyer’s equipment against all perils; and (3) workers’ compensation insurance in amounts required by law. Buyer’s commercial general liability insurance shall be written on an occurrence basis, shall include a contractual liability endorsement that insures the Repair Obligation and Buyer’s indemnity obligations hereunder, and shall contain a waiver of subrogation provision consistent with the terms of this Section. Buyer hereby represents and warrants that it carries the insurance required under this Section. Sellers from time to time may establish reasonable rules of conduct for Buyer and Buyer’s agents in furtherance of the terms of this Section 6.1. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN THIS AGREEMENT, BUYER HEREBY WAIVES ANY AND ALL RIGHTS OF RECOVERY, CLAIM, ACTION OR CAUSE OF ACTION AGAINST SELLERS, THEIR AGENTS, EMPLOYEES, OFFICERS, DIRECTORS, PARTNERS, MEMBERS, SERVANTS OR SHAREHOLDERS FOR ANY LOSS OR DAMAGE TO BUYER’S PROPERTY BY REASON OF FIRE, THE ELEMENTS, OR ANY OTHER CAUSE WHICH IS COVERED OR COULD BE COVERED BY STANDARD “ALL-RISKS” PROPERTY INSURANCE, REGARDLESS OF CAUSE OR ORIGIN, INCLUDING NEGLIGENCE OF SELLERS, THEIR AGENTS, EMPLOYEES, OFFICERS, DIRECTORS, PARTNERS, MEMBERS, SERVANTS OR SHAREHOLDERSAgents.

Inspection and Examination. Buyer and Buyer’s Agents have been given the right to (i) perform non-invasive physical tests (except that, upon Sellers’ prior written consent, which consent may be withheld in Sellers’ sole and absolute discretion, Buyer may perform minor intrusive testing to determine the presence of asbestos-containing materials, termites and other wood destroying insects, provided that all damage resulting therefrom is promptly repaired by Buyer at its sole expense (the “Repair Obligation”)); (ii) conduct any and all necessary engineering, environmental and other inspections at the Property and examine and evaluate the Review Materials and all other relevant agreements and documents within the possession of Sellers or subject to their control, as Buyer may reasonably request; and (iii) contact governmental agencies concerning the Financial Agreement and any incentives available under the Grow N.J. Program and obtain governmental records and documents on the Property. Buyer is satisfied, in its sole discretion with the results of its investigation and evaluation of the Property, and, accordingly, Buyer accepts the Property. Buyer shall have the ongoing right to continue its investigation and evaluation of the Property, but Buyer shall not have the right to terminate this Agreement as a result of any further investigations or evaluation. The following provisions shall apply to Buyer’s prior investigation and evaluation of the Property and any future investigation and evaluation. No soil and/or ground water sampling shall be performed unless and until the location, scope and methodology of such sampling and the environmental consultant selected by Buyer to perform such sampling have all been approved by Sellers. Prior to conducting any such sampling, Buyer shall have a utility xxxx-out performed for the Property. Copies of all environmental and engineering reports prepared by or on behalf of Buyer with respect to the Property shall be provided promptly to Sellers upon request (the “Report Obligation”). With respect to Buyer’s right to inspect the Property, Buyer agrees that (i) Sellers shall receive at least forty-eight (48) hours’ prior written notice of each inspection, (ii) each inspection shall be performed during normal business hours or at such other times as Sellers and Buyer shall mutually agree and shall be subject to any special limitations on access to certain areas of the Property arising under the Occupancy LeasesLease, (iii) Buyer and Buyer’s Agents shall not unreasonably interfere with the tenantstenant, subtenants, guests, employees, occupants of the Property and the operation thereof, and (iv) Buyer and Buyer’s Agents shall fully comply with all applicable Laws and Regulations (hereinafter defined) of all governmental authorities having jurisdiction with respect to Buyer’s investigations on the Property and all its other activities undertaken in connection therewith; and (v) Buyer shall not permit any mechanics’ liens to be filed against the Property or any part thereof relating to the inspections performed on behalf of Buyer. Buyer or Buyer’s Agents shall not perform any such inspection or examination unless accompanied by Sellers or a representative of the Property Manager. The Repair Obligation and the Report Obligation shall survive the termination of this Agreement. Prior to any entry by Buyer or Buyer’s Agents on the Property to conduct the inspections and tests described above, Buyer shall obtain and maintain, at Buyer’s sole cost and expense, and shall deliver to Sellers evidence thereof (including, without limitation, a copy of a certificate evidencing each such insurance policy): (1) commercial general liability insurance, from an insurer reasonably acceptable to Sellers, in the amount of TWO MILLION and 00/100 Dollars ($2,000,000.00) combined single limit for personal injury and property damage per occurrence, such policy to name each of Sellers, CSP Operating Partnership, LP and Property Manager as an additional insured party, which insurance shall provide coverage against any claim for personal liability or property damage resulting from the inspections, tests, access to the Property or other activities of Buyer and Buyer’s Agents in connection with the performance of its due diligence; (2) property insurance insuring Buyer’s equipment against all perils; and (3) workers’ compensation insurance in amounts required by law. Buyer’s commercial general liability insurance shall be written on an occurrence basis, shall include a contractual liability endorsement that insures the Repair Obligation and Buyer’s indemnity obligations hereunder, and shall contain a waiver of subrogation provision consistent with the terms of this Section. Buyer hereby represents and warrants that it carries the insurance required under this Section. Sellers from time to time may establish reasonable rules of conduct for Buyer and Buyer’s agents in furtherance of the terms of this Section 6.1. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN THIS AGREEMENT, BUYER HEREBY WAIVES ANY AND ALL RIGHTS OF RECOVERY, CLAIM, ACTION OR CAUSE OF ACTION AGAINST SELLERS, THEIR AGENTS, EMPLOYEES, OFFICERS, DIRECTORS, PARTNERS, MEMBERS, SERVANTS OR SHAREHOLDERS FOR ANY LOSS OR DAMAGE TO BUYER’S PROPERTY BY REASON OF FIRE, THE ELEMENTS, OR ANY OTHER CAUSE WHICH IS COVERED OR COULD BE COVERED BY STANDARD “ALL-RISKS” PROPERTY INSURANCE, REGARDLESS OF CAUSE OR ORIGIN, INCLUDING NEGLIGENCE OF SELLERS, THEIR AGENTS, EMPLOYEES, OFFICERS, DIRECTORS, PARTNERS, MEMBERS, SERVANTS OR SHAREHOLDERS.

Inspection and Examination. From the date hereof until Closing, Buyer and Buyer’s Agents have been will be given the right to (i) perform non-invasive physical tests (except that, upon Sellers’ Seller’s prior written consent, which consent may be withheld in Sellers’ Seller’s sole and absolute discretion, Buyer may perform minor intrusive testing to determine the presence of asbestos-containing materials, termites and other wood destroying insects, provided that all damage resulting therefrom is promptly repaired by Buyer at its sole expense (the “Repair Obligation”)); ) and (ii) conduct any and all necessary engineering, environmental and other inspections at the Property and examine and evaluate the Review Materials and all other relevant agreements and documents within the possession of Sellers Seller or subject to their its control, as Buyer may reasonably request; and (iii) contact governmental agencies concerning the Financial Agreement and any incentives available under the Grow N.J. Program and obtain governmental records and documents on the Property. Buyer is satisfied, in its sole discretion with the results of its investigation and evaluation of the Property, and, accordingly, Buyer accepts the Property. Buyer shall have the ongoing right to continue its investigation and evaluation of the Property, but Buyer shall not have the right to terminate this Agreement as a result of any further investigations or evaluation. The following provisions shall apply to Buyer’s prior investigation and evaluation of the Property and any future investigation and evaluation. No soil and/or ground water sampling shall be performed unless and until the location, scope and methodology of such sampling and the environmental consultant selected by Buyer to perform such sampling have all been approved by SellersSeller. Prior to conducting any such sampling, Buyer shall have a utility xxxx-out performed for the Property. Copies of all environmental and engineering reports prepared by or on behalf of Buyer with respect to the Property shall be provided promptly to Sellers Seller upon request (the “Report Obligation”); provided that Buyer shall have no liability with respect to the accuracy, contents or completeness thereof and, further, Buyer shall not be obligated to provide Seller with Buyer’s or Buyer’s attorneys’ internal analysis or work product. With respect to Buyer’s right to inspect the Property, Buyer agrees that (i) Sellers Seller shall receive at least fortytwenty-eight four (4824) hours’ prior written notice of each inspection, (ii) each inspection shall be performed during normal business hours or at such other times as Sellers Seller and Buyer shall mutually agree and shall be subject to any special limitations on access to certain areas of the Property arising under the Occupancy LeasesLease, (iii) Buyer and Buyer’s Agents shall not unreasonably interfere with the tenantsTenant, subtenants, guests, employees, occupants of the Property and the operation thereof, and (iv) Buyer and Buyer’s Agents shall fully comply with all applicable Laws and Regulations (hereinafter defined) of all governmental authorities having jurisdiction with respect to Buyer’s investigations on the Property and all its other activities undertaken in connection therewith; and (v) Buyer shall not permit any mechanics’ liens to be filed against the Property or any part thereof relating to resulting from the inspections performed on behalf of Buyer. Buyer or Buyer’s Agents shall not perform any such inspection or examination unless accompanied by Sellers Seller or a representative of the Property Manager. The Repair Obligation and the Report Obligation shall survive the termination of this Agreement. Prior to any entry by Buyer or Buyer’s Agents on the Property to conduct the inspections and tests described above, Buyer shall obtain and maintain, at Buyer’s sole cost and expense, and shall deliver to Sellers Seller evidence thereof (including, without limitation, a copy of a certificate evidencing each such insurance policy): (1) commercial general liability insurance, from an insurer reasonably acceptable to SellersSeller, in the amount of TWO MILLION and 00/100 Dollars ($2,000,000.00) combined single limit for personal injury and property damage per occurrence, such policy to name each of SellersSeller, CSP GPT Operating Partnership, LP and Property Manager as an additional insured party, which insurance shall provide coverage against any claim for personal liability or property damage resulting from the inspections, tests, access to the Property or other activities of Buyer and Buyer’s Agents in connection with the performance of its due diligence; (2) property insurance insuring Buyer’s equipment against all perils; and (3) workers’ compensation insurance in amounts required by law. Buyer’s commercial general liability insurance shall be written on an occurrence basis, shall include a contractual liability endorsement that insures the Repair Obligation and Buyer’s indemnity obligations hereunder, and shall contain a waiver of subrogation provision consistent with the terms of this Section. Buyer hereby represents and warrants that it carries the insurance required under this Section. Sellers Seller from time to time may establish reasonable rules of conduct for Buyer and Buyer’s agents in furtherance of the terms of this Section 6.1. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN THIS AGREEMENT, (I) BUYER HEREBY WAIVES ANY AND ALL RIGHTS OF RECOVERY, CLAIM, ACTION OR CAUSE OF ACTION AGAINST SELLERSSELLER, THEIR ITS AGENTS, EMPLOYEES, OFFICERS, DIRECTORS, PARTNERS, MEMBERS, SERVANTS OR SHAREHOLDERS FOR ANY LOSS OR DAMAGE TO BUYER’S PROPERTY BY REASON OF FIRE, THE ELEMENTS, OR ANY OTHER CAUSE WHICH IS COVERED OR COULD BE COVERED BY STANDARD “ALL-RISKS” PROPERTY INSURANCE, REGARDLESS OF CAUSE OR ORIGIN, INCLUDING NEGLIGENCE OF SELLERSSELLER, THEIR ITS AGENTS, EMPLOYEES, OFFICERS, DIRECTORS, PARTNERS, MEMBERS, SERVANTS OR SHAREHOLDERS, AND (II) WITHOUT IN ANY WAY LIMITING OR SUBROGATING ANY RECOVERY UNDER THE INSURANCE COVERAGE SPECIFIED IN SECTION 6.1, SELLER HEREBY WAIVES ANY AND ALL RIGHTS OF RECOVERY, CLAIM, ACTION OR CAUSE OF ACTION AGAINST BUYER, ITS AGENTS, EMPLOYEES, OFFICERS, DIRECTORS, PARTNERS, MEMBERS, SERVANTS OR SHAREHOLDERS FOR ANY LOSS OR DAMAGE TO SELLER’S PROPERTY BY REASON OF FIRE, THE ELEMENTS, OR ANY OTHER CAUSE WHICH IS COVERED OR COULD BE COVERED BY STANDARD “ALL-RISKS” PROPERTY INSURANCE, REGARDLESS OF CAUSE OR ORIGIN, INCLUDING NEGLIGENCE OF BUYER, ITS AGENTS, EMPLOYEES, OFFICERS, DIRECTORS, PARTNERS, MEMBERS, SERVANTS OR SHAREHOLDERS.