Common use of Inspections and Investigations Clause in Contracts

Inspections and Investigations. Beginning on the date of last execution of this Agreement by COUNTY and PURCHASER and for forty-five (45) calendar days thereafter (the "Due Diligence Period"), PURCHASER, at its sole expense, shall have the right to perform such inspections and investigations on or with respect to the Property as PURCHASER shall deem to be reasonably necessary or desirable in order to determine the existence of any facts or conditions with respect to the Property that could adversely affect its suitability for the intended use of the Property, or impose any unintended liability on PURCHASER as the owner thereof under any law. Such inspections and investigations may address, without limitation, the following matters: (i) the availability of utilities and of permits, licenses, variances, and other governmental approvals necessary for the development and use of the Property; (ii) the physical characteristics of the Property; and (iii) the compliance of the Property with environmental, zoning, subdivision, or other laws. If PURCHASER shall reasonably determine, in its sole discretion, that any facts or conditions exist with respect to the Property that render the Property unsuitable for its intended use or that could impose unintended liability on PURCHASER as the owner thereof, then, on or before the expiration of the Due Diligence Period, PURCHASER may deliver written notice to COUNTY either: (a) electing to terminate this Agreement with no further liability to either party, and COUNTY shall return the Deposit to PURCHASER; or (b) describing the conditions of the Property that render the Property unsuitable for its intended use or which can impose unintended liability on PURCHASER, in which case, upon receipt of such notice, the County Administrator may elect either: (1) to terminate this Agreement with no further liability to either party and COUNTY shall return the Deposit to PURCHASER; or (2) within thirty (30) calendar days after receipt of PURCHASER's notice, cure such conditions to PURCHASER's reasonable satisfaction.

Inspections and Investigations. Beginning on the date of last execution of this Agreement by COUNTY and PURCHASER and for forty-five (45) calendar days thereafter (the "“Due Diligence Period"”), PURCHASER, at its sole expense, shall have the right to perform such inspections and investigations on or with respect to the Property as PURCHASER shall deem to be reasonably necessary or desirable in order to determine the existence of any facts or conditions with respect to the Property that could adversely affect its suitability for the intended use of the Property, or impose any unintended liability on PURCHASER as the owner thereof under any law. Such inspections and investigations may address, without limitation, the following matters: (i) the availability of utilities and of permits, licenses, variances, and other governmental approvals necessary for the development and use of the Property; (ii) the physical characteristics of the Property; and (iii) the compliance of the Property with environmental, zoning, subdivision, or other laws. If PURCHASER shall reasonably determine, in its sole discretion, that any facts or conditions exist with respect to the Property that render the Property unsuitable for its intended use or that could impose unintended liability on PURCHASER as the owner thereof, then, on or before the expiration of the Due Diligence Period, PURCHASER may deliver written notice to COUNTY either: (a) electing to terminate this Agreement with no further liability to either party, and COUNTY shall return the Deposit to PURCHASER; or (b) describing the conditions of the Property that render the Property unsuitable for its intended use or which can impose unintended liability on PURCHASER, in which case, upon receipt of such notice, the County Administrator may elect either: (1) to terminate this Agreement with no further liability to either party and COUNTY shall return the Deposit to PURCHASER; or (2) within thirty (30) calendar days after receipt of PURCHASER's notice, cure such conditions to PURCHASER's reasonable satisfaction.