Common use of Inspection/Walk-Through Clause in Contracts

Inspection/Walk-Through. a. Inspection/Walk-Through. Beginning on the Effective Date and ending at 5:00 p.m., Colorado time, on the date that is fourteen (14) days after Effective Date (the “Inspection Period”), Purchaser shall have the opportunity to participate in one inspection and walk-through of the Unit (“Walk-Through”) with Seller's representative in order to compile a list of inspection deficiencies that the parties mutually agree need correction, which are apparent at the time of inspection (“Walk-Through List”), which Walk-Through List shall be signed by both Purchaser (or Purchaser’s designee) and Seller. Seller agrees to make its representative available during such fourteen (14) day period for a Walk-Through but Purchaser understands and agrees that it is Purchaser’s responsibility to request and schedule a Walk- Through. If a Walk-Through is timely conducted and if Purchaser and Seller are unable to agree in writing to a Walk-Through List, Purchaser shall have the right to terminate this Agreement before the expiration of the Inspection Period by written notice to Seller. If Purchaser fails to request and schedule a Walk-Through to be conducted before the expiration of the Inspection Period, or if Purchaser declines or refuses to complete the Walk-Through or have Purchaser’s designee do so on Purchaser’s behalf at the scheduled time, Purchaser shall be deemed to have waived Purchaser’s right to terminate this Agreement as provided in the immediately preceding sentence and shall be deemed to have fully accepted the condition of the Unit, subject to Section 7 below (Limited Warranty). The Inspection Period shall not be extended for any reason as set forth in Section 14.b below. In no event will any failure by Purchaser to timely request and schedule a Walk-Through be the basis for a delay in the Closing. If Purchaser fails to timely schedule a Walk- Through, Purchaser may still request and schedule a Walk-Through with Seller’s representative before Closing and a Walk-Through List of inspection deficiencies that Seller agrees need correction will be compiled; however, Purchaser shall have no termination right with respect to such Walk-Through. Seller will complete the items on the Walk-Through List at Seller’s expense within sixty (60) working days after the date of preparation of the Walk-Through List, subject to Excusable Delay. Purchaser’s refusal to close this transaction due to the need for reasonable further work (to be noted on the Walk-Through List with respect to the Unit) shall constitute a default by Purchaser under this Contract.

Inspection/Walk-Through. a. Inspection/Walk-Through. Beginning on the Effective Date and ending at 5:00 p.m., Colorado time, on the date that is fourteen (14) days after Effective Date (the “Inspection Period”), Purchaser shall have the opportunity to participate in one inspection and walk-through of the Unit (“Walk-Through”) with Seller's representative in order to compile a list of inspection deficiencies that the parties mutually agree need correction, which are apparent at the time of inspection (“Walk-Through List”), which Walk-Through List shall be signed by both Purchaser (or Purchaser’s designee) and Seller. Seller agrees to make its representative available during such fourteen (14) day period for a Walk-Through but Purchaser understands and agrees that it is Purchaser’s responsibility to request and schedule a Walk- Through. If a Walk-Through is timely conducted and if Purchaser and Seller are unable to agree in writing to a Walk-Through List, Purchaser shall have the right to terminate this Agreement before the expiration of the Inspection Period by written notice to Seller. If Purchaser fails to request and schedule a Walk-Through to be conducted before the expiration of the Inspection Period, or if Purchaser declines or refuses to complete the Walk-Through or have Purchaser’s designee do so on Purchaser’s behalf at the scheduled time, Purchaser shall be deemed to have waived Purchaser’s right to terminate this Agreement as provided in the immediately preceding sentence and shall be deemed to have fully accepted the condition of the Unit, subject to Section 7 below (Limited Warranty). The Inspection Period shall not be extended for any reason as set forth in Section 14.b below. In no event will any failure by Purchaser to timely request and schedule a Walk-Through be the basis for a delay in the Closing. If Purchaser fails to timely schedule a Walk- Through, Purchaser may still request and schedule a Walk-Through with Seller’s representative before Closing and a Walk-Through List of inspection deficiencies that Seller agrees need correction will be compiled; however, Purchaser shall have no termination right with respect to such Walk-Through. Seller will complete the items on the Walk-Through List at Seller’s expense within sixty (60) working days after the date of preparation of the Walk-Through List, subject to Excusable Delay. Purchaser understands that paving, exterior cement work, landscaping, final exterior finish and some components of the Project may not be completed at the time of Closing and that Seller will complete such paving, exterior cement work, landscaping and final exterior finish work as soon as practicable thereafter. Purchaser’s refusal to close this transaction due to the need for reasonable further work (to be noted on the Walk-Through List with respect to the Unit) shall constitute a default by Purchaser under this Contract.

Inspection/Walk-Through. a. Inspection/Walk-Through. Beginning on the Effective Date and ending at 5:00 p.m., Colorado time, on the date that is fourteen (14) days after Effective Date (the “Inspection Period”), Purchaser shall have the opportunity agrees to participate in one inspection and walk-through of the Unit (“"Walk-Through”") with Seller's representative in order to compile a list of inspection deficiencies that the parties mutually agree need correction, which are apparent at the time of inspection (“"Walk-Through List”"), which Walk-Through List shall be signed by both Purchaser (or Purchaser’s designee) and Seller. Seller agrees to make its representative available during such fourteen (14) day period for a Walk-Through but Purchaser understands and agrees that it is Purchaser’s responsibility to request and schedule a Walk- Through. If a Walk-Through is timely conducted and if Purchaser and Seller are unable to agree in writing to a Walk-Through List, Purchaser shall have the right to terminate this Agreement before the expiration of the Inspection Review Period by written notice to SellerObjection Deadline as provided in Section 4.a above. If Purchaser fails to request and schedule a Walk-Through to be conducted before the expiration of within the Inspection Period, or if Purchaser declines or refuses to complete the Walk-Through or have Purchaser’s 's designee do so on Purchaser’s 's behalf at the scheduled time, Seller may either designate a qualified third party, who is not an agent or employee of Seller, to complete the inspection on Purchaser's behalf before the expiration of the Inspection Period or, at Seller's election, Seller may consider such failure by Purchaser shall to be deemed a waiver of Purchaser's right to have waived participate in a Walk- Through and Purchaser’s right to terminate this Agreement as provided in the immediately preceding sentence and shall be deemed to have fully accepted acceptance of the condition of the Unit, subject to Section 7 below (Limited Warranty). The Inspection Period shall not be extended for any reason as set forth in Section 14.b below. In no event will any failure by Purchaser to timely request and schedule difficulty in scheduling a Walk-Through with Purchaser be the basis for a delay in the Closing. If Purchaser fails to timely schedule a Walk- Through, Purchaser may still request and schedule a Walk-Through with Seller’s representative before Closing and a Walk-Through List of inspection deficiencies that Seller agrees need correction will be compiled; however, Purchaser shall have no termination right with respect to such Walk-Through. Seller will complete the items on the Walk-Through List at Seller’s 's expense within sixty (60) working days after the date of preparation of the Walk-Through List, subject to Excusable Delay. Purchaser understands that paving, exterior cement work, landscaping, final exterior finish and some components of the Hotel may not be completed at the time of Closing and that Seller will complete such paving, exterior cement work, landscaping and final exterior finish work as soon as practicable thereafter. Purchaser’s refusal to close this transaction due to the need for reasonable further work (to be noted on the Walk-Through List with respect to the Unit) shall constitute a default by Purchaser under this Contract.