Property Condition and Inspection. The Property is being offered for sale in its existing “As-Is, Where-Is” condition subject to the terms of a Purchase and Sale Agreement. The Buyer/Investor may not rely upon any disclosures, representations or warranties other than those provided in the Purchase and Sale Agreement. We invite you and your experts (e.g., inspectors, contractors, engineers, roofers) to inspect the property, with a minimum of 48 hours written Notice. Written Proof of Funds or bank letter showing financing preapproval required prior to any showings. No exceptions. Those inspecting the Property assume all risk associated with any inspection. Current Tenants may not be disturbed AT ANY TIME. DOCUMENTS AVAILABLE: Documents include copies of real estate tax bills, copy of 2005 Survey and other applicable information. Seller, Seller’s Broker and all representatives employed by Broker will not be liable for any inaccuracy contained in any reports furnished to buyers originating from third party experts. REQUIREMENTS OF THE SUCCESSFUL BUYER/INVESTOR: Written Proof of Funds or bank letter showing financing preapproval required along with an initial down payment of 5% of the total Purchase Price by cashiers or certified check or wire transfer within three (3) business days following Sellers acceptance. The amount must be provided via certified funds made payable to the Escrow Agent as described in Purchase and Sale Agreement CLOSING DATE: The Closing Date will be a minimum of 60 days from Seller’s Acceptance. POSSESSION: Possession will be delivered either at Closing or subject to the terms of the Purchase and Sale Agreement.
Property Condition and Inspection. A. Subject to the terms of this Section 8.1, 550/330 Seller agrees that Purchaser, its agents, contractors and consultants may, on reasonable prior notice to 550/330 Seller and the lessor under the Mamaroneck Ground Leases, the 330 Ground Lease, and any affected 550/330 Tenant, as appropriate, and in accordance with the terms of the Mamaroneck Ground Leases, the 330 Ground Lease, and any applicable 550/330 Space Leases, for a period ending thirty (30) days after the date hereof (the "Inspection Period"), enter the 550/330 Property to conduct, at Purchaser's sole cost and expense, (i) an engineering inspection of the 550/330 Property to determine whether the physical properties and structures are reasonably sound and in good working order, (ii) to prepare (A) an update of the Mamaroneck Survey or of the 330 Survey, (B) a new survey for the Mamaroneck Property, or (C) a new survey of the 330 Property (such update, such new survey, or such survey being referred to herein as a "Current Survey"), and (iii) to complete a Phase I environmental survey with respect to the 550/330 Real Estate; provided, however, that such Phase I survey shall (A) be prepared by a nationally recognized environmental consulting firm acceptable to 550/330 Seller, (B) be conducted in accordance with the protocol established by the American Society for Testing and Materials, Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process, E 1527-94, and (C) not involve any intrusive testing or sampling of the soil, groundwater, or other environmental media. A copy of any reports and surveys produced by Purchaser, its agents, contractors and consultants in connection herewith shall be provided to 550/330 Seller within ten (10) business days after their completion. Until the Closing has occurred, Purchaser shall keep confidential the results of any such inspection or survey that Purchaser performs or causes to be performed during the Inspection Period, except to the extent disclosure is otherwise required by law and except for disclosure to Purchaser's attorneys and other consultants. Nothing contained in this Section 8.1 (x) grants to Purchaser any right to terminate this Agreement, or (y) limits the provisions of Section 9.2 hereof.
