Common use of Property Documents Clause in Contracts

Property Documents. Prior to the execution of this Agreement, Seller has delivered to Buyer certain documents. After the Opening of Escrow, Buyer shall have the right to review at Seller’s offices in Costa Mesa or Perris during normal business hours upon reasonable advance notice, and to make copies of, all non-proprietary, non-confidential written materials and documents pertaining to the Property that are in Seller’s possession and control and which have not previously been delivered to Optionee, including, but not limited to, plans, drawings and specifications, environmental studies and reports, soils reports, geotechnical, engineering and architectural studies, surveys, maps, licenses, permits and approvals respecting the Property, (all such documents, together with those previously delivered by Seller to Buyer concerning the Property, the “Property Documents”). Buyer shall have until the end of the Property Inspection Period (as defined in Section 1(b)) to review the Property Documents and perform a feasibility study with respect to the Property which may include reasonable market and engineering studies, leasing and financial investigations, soils tests, drainage studies, confirmation that all utilities including water, electric, gas, sewer and telephone are available to the Property, environmental investigations, confirmation of zoning, and/or such other tests, studies or investigations with respect to the Property as Buyer deems appropriate. Seller shall allow reasonable access to the Property to Buyer and persons reasonably designated by Buyer, and shall afford them the opportunity to inspect and perform any tests upon the Property that Buyer deems necessary or appropriate to determine whether the Property is suitable for Buyer’s purposes; provided, however, that Buyer may not perform any invasive or subsurface testing on the Property without Seller’s prior written consent, which consent may be withheld in Seller’s reasonable discretion. Buyer shall promptly after receipt deliver to Seller a copy of all reports, assessments, tests, studies, surveys and appraisals obtained by Buyer with respect to the Property prior to the Closing. If Buyer, after conducting such inspections, investigations, and tests, determines that the Property or any part thereof or the Property Documents, are not in Buyer’s sole discretion satisfactory for any reason, then Buyer may elect, at any time on or prior to the end of the Property Inspection Period, to terminate this Agreement by written notice to Seller and Escrow Agent. Notwithstanding anything else contained herein to the contrary, if Buyer has not provided Seller with a written notice of approval of the Property or Property Documents prior to the end of the Property Inspection Period, the Property and Property Documents shall be deemed disapproved by Buyer and Seller’s shall be deemed to have elected to terminate this Agreement and receive a return of all Xxxxxxx Money paid. The provisions of this Section 5(d) shall survive the Close of Escrow or any termination or cancellation of this Agreement.

Property Documents. Prior to the Within three (3) business days following execution of this Agreement, Seller has delivered to Buyer certain documents. After the Opening of EscrowSELLER shall, Buyer shall have the right to review at Seller’s offices in Costa Mesa or Perris during normal business hours upon reasonable advance noticeits sole expense, and to make copies ofthe extent in its possession or control, all non-proprietary, non-confidential written materials and documents pertaining deliver or cause to the Property that are in Seller’s possession and control and which have not previously been be delivered to OptioneeBUYER (i) true and complete copies of all parking leases or agreements, includingservice contracts, but not limited tocontracts, plans, drawings and specifications, environmental studies and reports, soils reports, geotechnical, engineering and architectural studies, surveys, maps, licenses, permits and approvals respecting the Property, (all such documents, together or any other agreements associated with those previously delivered by Seller to Buyer concerning the Property, the “Property Documents”). Buyer shall have until the end or affecting any portion of the Property Inspection (the “Contracts”); and (ii) a true and complete copy of the certificate of property insurance and report of insurance claims associated with the Property in the last twelve (12) months. Additionally, during the Review Period (as defined below), SELLER agrees to, disclose all known documents and reports in Section 1(b)) its possession or control, use reasonable efforts to review the Property Documents further provide BUYER with any additional documents and perform a feasibility study with respect to the Property which may include reasonable market and engineering studiesreports in its possession, leasing and financial investigations, soils tests, drainage studies, confirmation that all utilities including water, electric, gas, sewer and telephone are available custody or control relating to the Property, including but not limited to operating agreements, floor plans, surveys, appraisals, title reports, property tax or special assessment related documents, liens, inspections, financials, revenues, geological and environmental investigationsreports and feasibility studies, confirmation of zoningarchitectural drawings and reports, and/or such other testsstructural engineering analysis and reports, studies building maintenance and repair records, equipment purchases, repairs and improvement records. In providing the materials above to BUYER, SELLER makes no representation or investigations warranties, express, written, oral, statutory, or implied, with respect to the Property as Buyer deems appropriate. Seller shall allow reasonable access to the Property to Buyer and persons reasonably designated by Buyersuch materials, and all such representations and warranties are hereby expressly excluded and disclaimed. All materials are provided for informational purposes only and BUYER shall afford them the opportunity not in any way be entitled to inspect and perform any tests rely upon the Property that Buyer deems necessary completeness or appropriate to determine whether accuracy of the Property is suitable for Buyer’s purposes; provided, however, that Buyer may not perform any invasive or subsurface testing materials and will instead in all instances rely exclusively on the Property without Seller’s prior written consent, which consent may be withheld in Seller’s reasonable discretion. Buyer shall promptly after receipt deliver to Seller a copy of all reports, assessments, tests, studies, surveys its own inspections and appraisals obtained by Buyer materials with respect to all matters which it deems relevant to its decision to acquire the Property Property. All Contracts shall be assigned to and assumed Xxxxxxxx Park/XxxxXxxxx Purchase and Sale Agreement May 15, 2020 Page 5 of 34 by BUYER at Closing unless BUYER notifies SELLER, prior to the expiration of the Review Period (as defined below), that it desires to terminate certain Contracts at Closing. If Buyer, after conducting such inspections, investigations, and tests, determines that the Property or any part thereof or the Property Documents, are not in Buyer’s sole discretion satisfactory for any reason, then Buyer may elect, at any time on or prior to the end of the Property Inspection Period, to terminate this Agreement by written notice to Seller and Escrow Agent. Notwithstanding anything else contained herein to the contrary, if Buyer has not provided Seller with a written notice of approval of the Property or Property Documents prior to the end of the Property Inspection Period, the Property and Property Documents SELLER shall be deemed disapproved by Buyer and Seller’s shall be deemed to have elected to terminate this Agreement and receive a return responsible for the payment of all Xxxxxxx Money paid. The provisions of this Section 5(d) shall survive the Close of Escrow any cancellation fees or penalties in connection with any termination or cancellation of this AgreementContracts that are terminated at Closing.

Property Documents. Prior Lender may request any of the following documents with respect to each property which may serve as collateral for the Project Loan, in form and substance acceptable to Lender: i. Any copies of easements, covenants and restrictions affecting the property to be recorded by Borrower at or prior to the execution closing date; ii. A current, binding commitment from the title company to issue the title policy in the amount of this Agreementthe Project Loan, Seller has delivered insuring Lender that the Deed of Trust constitutes a valid first priority lien upon that property, subject only to Buyer certain documentssuch title exceptions as Lender shall approve in its sole discretion, which such endorsements as Lender shall reasonably require and otherwise in such form and substance as shall be acceptable to Lender; iii. After A Phase I Environmental audit report addressed to Lender and, if reasonably deemed necessary or appropriate by Lender based on its review of the Opening Phase I, a Phase II Environmental report prepared by a registered engineer approved by Lender; iv. A current ALTA Survey of Escrowthe property, Buyer shall have prepared by a land surveyor registered under the right to review at Seller’s offices laws of the subject state, certified in Costa Mesa or Perris during normal business hours upon reasonable advance noticefavor of Lender, and otherwise in a form reasonably acceptable to make Lender; v. True, correct and complete copies of, of a soils/geotechnical report for the property prepared by an engineer and copies of all non-proprietary, non-confidential written materials and documents pertaining agreements which are material to the Property Project; vi. Evidence that sufficient utilities are or will be available for construction of the Improvements and the operation of the Improvements for their intended purposes; vii. Appropriate written evidence that the property is and upon construction of the Improvements will be in Seller’s possession full compliance with all zoning, subdivision, land use and control other laws, statutes, ordinances, codes and which have not previously been delivered to Optionee, including, but not limited to, plans, governmental rules and regulations; viii. Preliminary drawings and specificationsspecifications for the Improvements in form and substance satisfactory to Lender; ix. Lease between tenant and Borrower for specific funded project, environmental studies and reports, soils reports, geotechnical, engineering and architectural studies, surveys, maps, licenses, permits and approvals respecting the Property, (all such documents, together with those previously delivered by Seller to Buyer concerning the Property, the “Property Documents”)ix. Buyer shall have until the end of the Property Inspection Period (as defined in Section 1(b)) to review the Property Documents and perform a feasibility study Such other documents with respect to the Property which may include reasonable market and engineering studies, leasing and financial investigations, soils tests, drainage studies, confirmation that all utilities including water, electric, gas, sewer and telephone property as are available required pursuant to the Property, environmental investigations, confirmation of zoning, and/or such other tests, studies or investigations with respect to the Property as Buyer deems appropriate. Seller shall allow reasonable access to the Property to Buyer and persons reasonably designated by Buyer, and shall afford them the opportunity to inspect and perform any tests upon the Property that Buyer deems necessary or appropriate to determine whether the Property is suitable for Buyer’s purposes; provided, however, that Buyer may not perform any invasive or subsurface testing on the Property without Seller’s prior written consent, which consent may be withheld in Seller’s reasonable discretion. Buyer shall promptly after receipt deliver to Seller a copy of all reports, assessments, tests, studies, surveys and appraisals obtained by Buyer with respect to the Property prior to the Closing. If Buyer, after conducting such inspections, investigations, and tests, determines that the Property or any part thereof or the Property Documents, are not in Buyer’s sole discretion satisfactory for any reason, then Buyer may elect, at any time on or prior to the end of the Property Inspection Period, to terminate this Agreement by written notice to Seller and Escrow Agent. Notwithstanding anything else contained herein to the contrary, if Buyer has not provided Seller with a written notice of approval of the Property or Property Documents prior to the end of the Property Inspection Period, the Property and Property Documents as Lender shall be deemed disapproved by Buyer and Seller’s shall be deemed to have elected to terminate this Agreement and receive a return of all Xxxxxxx Money paid. The provisions of this Section 5(d) shall survive the Close of Escrow or any termination or cancellation of this Agreementotherwise reasonably require.

Property Documents. Prior to the execution of this Agreement, Purchaser hereby acknowledges that Seller has delivered to Buyer certain documents. After Purchaser the Opening Rent Roll and true and correct copies of Escrowdocuments set forth on Schedule 2 and Seller, Buyer within five (5) days of the Effective Date, shall have the right to review at Seller’s offices in Costa Mesa or Perris during normal business hours upon reasonable advance notice, and to make deliver copies of, of all other non-proprietary, non-confidential written materials and proprietary documents pertaining relating to the Property that Land and the Improvements, to the extent such documents exist and are in Seller’s possession and control and which have not previously been delivered to Optionee, including, but not limited to, plans, drawings and specifications, environmental studies and reports, soils reports, geotechnical, engineering and architectural studies, surveys, maps, licenses, permits and approvals respecting the Property, (all such documents, together with those previously delivered by Seller to Buyer concerning the Property, the “Property Documents”). Buyer Seller may provide such copies to Purchaser in electronic format. Purchaser acknowledges and agrees that Seller’s Property Documents will be provided by Seller to accommodate and facilitate Purchaser’s investigations relating to the Land and the Property and that, except as expressly set forth herein, Seller makes no representations and warranties of any kind regarding the accuracy or thoroughness of the information contained in Seller’s Property Documents and Purchaser shall not be entitled to rely on the Property Documents. Purchaser must perform its own due diligence investigation of the Properties. Subject to the terms and conditions below, Purchaser shall have until 5:00 p.m. Arizona time on September 30, 2011 (the end of the “Property Inspection Period (as defined in Section 1(b)Period”) to review the Property Documents and perform a feasibility study or studies with respect to the Property which may include reasonable market and engineering studies, leasing and financial investigations, soils soil tests, drainage studies, confirmation that all utilities including water, electric, gas, sewer and telephone are available to the Property, environmental investigations, confirmation of zoning, and/or such other tests, studies or investigations with respect to the Property as Buyer Purchaser deems appropriateappropriate in its sole and absolute discretion. Subject to the rights of tenants of the Property under their respective leases and with reasonable advance notice to Seller, Seller shall allow cause reasonable access to the Property to Buyer be available to Purchaser and the persons reasonably so designated by Buyerit during the regular business hours of the respective Property, and shall afford them the opportunity to inspect and perform any tests upon the Property that Buyer Purchaser deems necessary or appropriate to determine whether the Property is suitable for BuyerPurchaser’s purposes; provided, howeverin Purchaser’s sole and absolute discretion. At Seller’s request, that Buyer may not perform Seller and/or the involved tenant or its designees shall be entitled to accompany Purchaser during any invasive or subsurface testing on such inspection. Purchaser shall have the Property without right to conduct a Phase I environmental site assessment and, with Seller’s prior written consent, to be given or withheld in Seller’s sole discretion, a Phase II environmental site assessment (including soils borings, soil sampling and, if relevant, ground water testing, and invasive sampling of building materials with respect to the Premises). Purchaser’s activities at the Property shall be conducted in such a manner so as not to unreasonably interfere with the occupancy of tenants or their employees, licensees or invitees. Notwithstanding the foregoing, Purchaser shall not conduct any intrusive testing of any of the Properties without the prior written consent of Seller, which consent may be withheld in Seller’s reasonable its sole discretion. Buyer shall promptly after receipt deliver to Seller a copy of all reports, assessments, tests, studies, surveys and appraisals obtained by Buyer with respect to the Property prior to the Closing. If BuyerPurchaser, after conducting such inspections, investigations, and tests, determines that the Property or any part thereof or the Property Documents, or any other aspect of the Property whatsoever, are not not, in BuyerPurchaser’s sole discretion and absolute discretion, satisfactory for any reason, or no reason at all, then Buyer Purchaser may elect, at any time on or prior to the end date of expiration of the Property Inspection Period, to terminate cancel this Agreement and the Escrow by written notice to Seller and Escrow Agent, in which case Purchaser shall receive a prompt return of the Deposit and Purchaser and Seller shall have no further obligations to each other under this Agreement except for those obligations hereunder which expressly survive such termination. Upon termination by Purchaser, Purchaser shall have no obligation to deliver any third-party documents obtained by or for Purchaser with respect to its investigations of the Property. Notwithstanding anything else contained herein to the contrary, if Buyer Purchaser has not provided Seller with a written notice of approval disapproval of the Property or Property Documents prior to the end of the Property Inspection Period, the Property and Property Documents shall be automatically deemed disapproved approved by Buyer Purchaser as of the end of the Property Inspection Period. When Purchaser gives Seller written notice of approval of its due diligence or is deemed to have given Seller notice of such approval, the Deposit shall be non-refundable to Purchaser, except in the case of a breach by Seller. If Purchaser cancels this Agreement as provided in this Section 3.3, then (i) Escrow Agent shall return to Seller all documents Seller deposited with Escrow Agent in connection with the Escrow; (ii) Escrow Agent shall return to Purchaser all documents Purchaser deposited with Escrow Agent in connection with the Escrow; and Seller’s (iii) Escrow Agent shall return the Deposit to Purchaser. Upon such event, this Agreement and the Escrow shall be deemed null and void and neither party shall have any further rights or obligations to have elected to terminate this Agreement and receive a return of all Xxxxxxx Money paid. The the other hereunder or on account hereof, except for those which by the provisions of this Agreement are expressly stated to survive or occur at termination of this Agreement. Purchaser or Purchaser’s representatives, agents and/or consultants shall keep in full force and effect general liability insurance from an insurance company and in form and substance reasonably approved by Seller, naming Seller as an additional insured during Purchaser’s or Purchaser’s agents, representatives and/or consultants entries and inspections of the Property, as follows: A. Commercial general liability insurance with combined single limits of not less than $1,000,000.00 per occurrence for bodily injury and property damage. B. Any contractor hired to perform environmental tests to the Property shall maintain errors and omissions or professional liability insurance covering injury or damage arising out of the rendering or failing to render professional services with limits of at least $2,000,000.00 per claim. C. All insurance maintained under this Section 5(d) 3.3 shall be procured from insurance companies reasonably satisfactory to Seller. Any damage, disturbance or other disruption of the Improvements or the Land or other portion of the Property caused by Purchaser or its employees, contractors or agents shall be promptly repaired and/or placed in the condition existing prior to disturbance thereof by Purchaser or its employees, contractors and agents upon completion of any activities by such parties on or with respect to the Property. The obligation in the previous sentence shall survive the Close of Escrow or any termination or cancellation of this Agreement.

Property Documents. Prior to the execution of this Agreement, Purchaser acknowledges that Seller has delivered to Buyer certain documents. After Purchaser the Opening Rent Roll and true and correct copies of Escrow, Buyer shall have the right to review at Seller’s offices in Costa Mesa or Perris during normal business hours upon reasonable advance notice, and to make copies of, all non-proprietary, non-confidential written materials and those documents pertaining to the Property that are in Seller’s possession and control and which have not previously been delivered to Optionee, including, but not limited to, plans, drawings and specifications, environmental studies and reports, soils reports, geotechnical, engineering and architectural studies, surveys, maps, licenses, permits and approvals respecting the Property, set forth on Schedule 2 attached hereto (all such documents, together with those previously delivered by Seller to Buyer concerning the Property, the “Property Documents”). Buyer Purchaser acknowledges and agrees that Seller’s Property Documents will be provided by Seller to accommodate and facilitate Purchaser’s investigations relating to the Land and the Property and that, except as expressly set forth herein, Seller makes no representations and warranties of any kind regarding the accuracy or thoroughness of the information contained in Seller’s Property Documents and Purchaser shall not be entitled to rely on the Property Documents. Purchaser must perform its own due diligence investigation of the Property. Subject to the terms and conditions below, Purchaser shall have until 5:00 p.m. California time on January 17, 2013 (the end of the “Property Inspection Period (as defined in Section 1(b)Period”) to review the Property Documents and perform a feasibility study with respect to the Property which may include reasonable market and engineering studies, leasing and financial investigations, soils soil tests, drainage studies, confirmation that all utilities including water, electric, gas, sewer and telephone are available to the Property, environmental investigations, confirmation of zoning, and/or such other tests, studies or investigations with respect to the Property as Buyer Purchaser deems appropriateappropriate in its sole and absolute discretion. Subject to the rights of tenants of the Property under their respective leases and with reasonable advance notice to Seller, Seller shall allow reasonable cause access to the Property to Buyer be available to Purchaser and the persons reasonably so designated by Buyerit within 48 hours of Purchaser’s written request, but during the regular business hours of the respective Property, and shall afford them the opportunity to inspect and perform any tests upon the Property that Buyer Purchaser deems necessary or appropriate to determine whether the Property is suitable for BuyerPurchaser’s purposes; provided, however, that Buyer may not perform any invasive or subsurface testing on the Property without in Purchaser's sole and absolute discretion. At Seller’s request, Seller and/or the involved tenant or its designees shall be entitled to accompany Purchaser during any such inspection or contact with any tenant. Purchaser shall have the right to conduct a Phase I environmental site assessment and, with Seller's prior written consent, which consent may (to be given or withheld in Seller’s reasonable sole and absolute discretion. Buyer shall promptly after receipt deliver to Seller ) a copy Phase II environmental site assessment (including soils borings, soil sampling and, if relevant, ground water testing, and invasive sampling of all reports, assessments, tests, studies, surveys and appraisals obtained by Buyer building materials with respect to the Premises). Purchaser’s activities at the Property shall be conducted in such a manner so as not to unreasonably interfere with the occupancy of tenants or their employees, licensees or invitees. Purchaser shall have the right to conduct tenant interviews with Seller's prior consent, not to be unreasonably withheld, but with Purchaser to be accompanied by a Seller representative if required by Seller. Notwithstanding the Closingforegoing, Purchaser shall not conduct any intrusive testing of the Property without the prior written consent of Seller, not to be unreasonably withheld. If BuyerPurchaser, after conducting such inspections, investigations, and tests, determines that the Property or any part thereof or the Property Documents, or any other aspect of the Property whatsoever, are not not, in BuyerPurchaser’s sole discretion and absolute discretion, satisfactory for any reason, or no reason at all, then Buyer Purchaser may elect, at any time on or prior to the end date of expiration of the Property Inspection Period, to terminate cancel this Agreement and the Escrow by written notice to Seller and Escrow Agent, in which case Purchaser shall receive a prompt return of the Deposit and Purchaser and Seller shall have no further obligations to each other under this Agreement except for those obligations hereunder which expressly survive such termination. Upon termination by Purchaser, but not as a condition precedent to the return of the Deposit to Purchaser, Seller shall have the right to demand from Purchaser and pay the reasonable copying costs for copies of all documents obtained by or for Purchaser with respect to its investigations of the Property (which shall be delivered by Purchaser without any representation or warranty or liability to Purchaser), except for such document which are of an internal and proprietary nature or the dissemination of which has been prohibited by the third-party preparer thereof. Notwithstanding anything else contained herein to the contrary, if Buyer Purchaser has not provided Seller with a written notice of approval disapproval of the Property or Property Documents prior to the end of the Property Inspection Period, the Property and Property Documents shall be deemed disapproved approved by Buyer Purchaser. When Purchaser gives Seller written notice of approval of its due diligence or is deemed to have given Seller notice of such approval, the Deposit shall be non-refundable to Purchaser except for a default by Seller. If Purchaser cancels this Agreement as provided in this Section 3.3, then (i) Escrow Agent shall return to Seller all documents Seller deposited with Escrow Agent in connection with the Escrow; (ii) Escrow Agent shall return to Purchaser all documents Purchaser deposited with Escrow Agent in connection with the Escrow; and Seller’s (iii) Escrow Agent shall return the Deposit to Purchaser. Upon such event, this Agreement and the Escrow shall be deemed null and void and neither party shall have any further rights or obligations to the other hereunder or on account hereof, except for those which by the provisions of this Agreement are expressly stated to survive or occur at termination of this Agreement. If Purchaser does not elect to cancel this Agreement as provided in this Section 3.3, Purchaser shall be deemed to have approved all matters concerning the Property and elected to terminate this Agreement proceed with the acquisition of the Property in accordance with and receive a return of all Xxxxxxx Money paid. The provisions of this Section 5(d) shall survive subject to the Close of Escrow or any termination or cancellation terms and conditions of this Agreement. Purchaser or Purchaser’s representatives, agents and/or consultants shall keep in full force and effect general liability insurance from an insurance company and in form and substance reasonably approved by Seller, naming Seller as an additional insured during Purchaser’s or Purchaser’s agents, representatives and/or consultants entries and inspections of the Property, as follows: A. Commercial general liability insurance with combined single limits of not less than $2,000,000.00 per occurrence for bodily injury and property damage, containing an endorsement insuring against damage to the Property and to or from underground utilities. B. Any contractor hired to perform environmental tests to the Property shall maintain errors and omissions or professional liability insurance covering injury or damage arising out of the rendering or failing to render professional services with limits of at least $2,000,000.00 per claim. C. All insurance maintained under this Section 3.3 shall be procured from insurance companies reasonably satisfactory to Seller. Any damage, disturbance or other disruption of the Improvements or the Land or other portion of the Property caused by Purchaser or its employees, contractors or agents shall be promptly repaired and/or placed in the condition existing prior to disturbance thereof by Purchaser or its employees, contractors and agents upon completion of any activities by such parties on or with respect to the Property.

Property Documents. Prior to the Within ten (10) days of execution of this AgreementContract, Seller has delivered shall furnish to Buyer certain documentsall written documentation pertaining to the "Condition of the Property", as hereafter defined, in Seller's possession INCLUDING, WITHOUT LIMITATION, those delineated below (the "Property Documents") excluding attorney-client communications involving legal advice or other attorney's work product. After The Property Documents are furnished without representation or warranty of any kind as to their accuracy or completeness, and Buyer is specifically not entitled to rely thereon. The following shall be included in the Opening Property Documents: (a) The Tenant Leases; (b) The most recent ad valorem tax statements from all taxing authorities having jurisdiction over the Property. (c) An inventory of Escrowthe Personalty, Buyer shall have if any, together with a list of all personal property attached to, located upon or used in connection with the Property and which is not owned by Seller but which Seller has the right to review at Seller’s offices in Costa Mesa use under lease, rental or Perris during normal business hours upon reasonable advance noticeother agreements, accompanies by true and to make legible copies of, all non-proprietary, non-confidential written materials and documents pertaining to the Property that are in Seller’s possession and control and which have not previously been delivered to Optionee, including, but not limited to, plans, drawings and specifications, environmental studies and reports, soils reports, geotechnical, engineering and architectural studies, surveys, maps, licenses, permits and approvals respecting the Property, of such agreements. (all such documents, together with those previously delivered by Seller to Buyer concerning the Property, the “Property Documents”). Buyer shall have until the end of the Property Inspection Period (as defined in Section 1(b)d) to review the Property Documents and perform a feasibility study with respect to the Property which may include reasonable market and engineering studies, leasing and financial investigations, soils tests, drainage studies, confirmation that all utilities including water, electric, gas, sewer and telephone are available to the Property, environmental investigations, confirmation of zoning, and/or such other tests, studies or investigations with respect to the Property as Buyer deems appropriate. Seller shall allow reasonable access to the Property to Buyer and persons reasonably designated by Buyer, and shall afford them the opportunity to inspect and perform any tests upon the Property that Buyer deems necessary or appropriate to determine whether the Property is suitable for Buyer’s purposes; provided, however, that Buyer may not perform any invasive or subsurface testing on the Property without Seller’s prior written consent, which consent may be withheld in Seller’s reasonable discretion. Buyer shall promptly after receipt deliver to Seller a copy Copies of all reportscontracts of employment, assessmentsmanagement, testsmaintenance, studiesservice, surveys and appraisals obtained by Buyer with respect to the Property prior to the Closing. If Buyer, after conducting such inspections, investigations, and tests, determines that the Property supply or rental outstanding which affect any part thereof or the Property Documents, are not in Buyer’s sole discretion satisfactory for any reason, then Buyer may elect, at any time on or prior to the end of the Property Inspection Period, to terminate this Agreement by written notice to Seller and Escrow Agent. Notwithstanding anything else contained herein to the contrary, if Buyer has not provided Seller with a written notice of approval portion of the Property or Property Documents prior its operation. (e) Site plans, surveys, soil and substrata studies, architectural renderings, plans and specifications, engineering plans and studies, floor plans, landscape plans and other plans, diagrams or studies of any kind, if any, in Seller's possession, which relate to the end Land, the Improvements or the Personalty, together with all documents relating or pertaining to all warranties and guaranties of construction. (f) Copies of all documents and records and any other information in Seller's possession concerning any investigation, study, report, inquiry, lawsuit or proceeding pertaining to the existence of Hazardous Materials affecting the Property Inspection Periodor affecting properties adjacent to the Property. Such documents, records and information include without limitation, environmental audits, environmental risk assessments or site assessments, documentation regarding off-site disposal of Hazardous Materials, spill control plans, and environmental agency and third-party reports and investigations, claims, citations, pleadings, correspondence or other communications excluding correspondence which may contain matters subject to attorney-client privilege. Seller shall have an ongoing obligation to provide to Buyer copies of any such additional documents which come into the Property and Property Documents shall be deemed disapproved by Buyer and possession of Seller subsequent to the date hereof within ten (10) days of any such document, record or information coming into the Seller’s shall be deemed to have elected to terminate this Agreement and receive a return of all Xxxxxxx Money paid. The provisions of this Section 5(d) shall survive the Close of Escrow or any termination or cancellation of this Agreement's possession.

Property Documents. Prior to the execution of this Agreement, Purchaser hereby acknowledges that Seller has delivered to Buyer certain documents. After Purchaser the Opening Rent Roll and true and correct copies of Escrow, Buyer shall have the right to review at Seller’s offices in Costa Mesa or Perris during normal business hours upon reasonable advance notice, and to make copies of, all non-proprietary, non-confidential written materials and documents pertaining set forth on Schedule 2 to the Property that extent such documents exist and are in Seller’s possession and or control and which have not previously been delivered to Optionee, including, but not limited to, plans, drawings and specifications, environmental studies and reports, soils reports, geotechnical, engineering and architectural studies, surveys, maps, licenses, permits and approvals respecting the Property, (all such documents, together with those previously delivered by Seller to Buyer concerning the Property, the “Property Documents”). Buyer Seller agrees to make available to Purchaser any additional documents in Seller’s possession excluding any proprietary, confidential or privileged information, that Purchaser may reasonably request during the term of this Agreement, including, without limitation, any existing property condition reports and environmental reports. Seller may provide such copies to Purchaser in electronic format. Purchaser acknowledges and agrees that Seller’s Property Documents will be provided by Seller to accommodate and facilitate Purchaser’s investigations relating to the Land and the Property and that, except as expressly set forth herein, Seller makes no representations and warranties of any kind regarding the accuracy or thoroughness of the information contained in Seller’s Property Documents and Purchaser shall not be entitled to rely on the Property Documents. Purchaser must perform its own due diligence investigation of the Properties. Subject to the terms and conditions below, Purchaser shall have until 5:00 p.m. Pacific time on November 17, 2011 (the end of the “Property Inspection Period (as defined in Section 1(b)Period”) to review the Property Documents and perform a feasibility study or studies with respect to the Property which may include reasonable market and engineering studies, leasing and financial investigations, soils soil tests, drainage studies, confirmation that all utilities including water, electric, gas, sewer and telephone are available to the Property, environmental investigations, confirmation of zoning, and/or such other tests, studies or investigations with respect to the Property as Buyer Purchaser deems appropriateappropriate in its sole and absolute discretion. Subject to the rights of tenants of the Property under their respective leases and with reasonable advance notice to Seller, Seller shall allow cause reasonable access to the Property to Buyer be available to Purchaser and the persons reasonably so designated by Buyerit during the regular business hours of the respective Property, and shall afford them the opportunity to inspect and perform any tests upon the Property that Buyer Purchaser deems necessary or appropriate to determine whether the Property is suitable for BuyerPurchaser’s purposes; provided, howeverin Purchaser’s sole and absolute discretion. At Seller’s request, that Buyer may not perform Seller and/or the involved tenant or its designees shall be entitled to accompany Purchaser during any invasive or subsurface testing on such inspection. Purchaser shall have the Property without right to conduct a Phase I environmental site assessment and, with Seller’s prior written consent, which consent may (to be given or withheld in Seller’s reasonable discretion. Buyer shall promptly after receipt deliver to Seller ) a copy Phase II environmental site assessment (including soils borings, soil sampling and, if relevant, ground water testing, and invasive sampling of all reports, assessments, tests, studies, surveys and appraisals obtained by Buyer building materials with respect to the Premises). Purchaser’s activities at the Property shall be conducted in such a manner so as not to unreasonably interfere with the occupancy of tenants or their employees, licensees or invitees. Purchaser shall have the right to conduct tenant interviews, but with Purchaser to be accompanied by a Seller representative if requested by Seller. Notwithstanding the foregoing, Purchaser shall not conduct any intrusive testing of any of the Property without the prior written consent of Seller, not to the Closingbe unreasonably withheld. If BuyerPurchaser, after conducting such inspections, investigations, and tests, determines that the Property or any part thereof or the Property Documents, or any other aspect of the Property whatsoever, are not not, in BuyerPurchaser’s sole discretion and absolute discretion, satisfactory for any reason, or no reason at all, then Buyer Purchaser may elect, at any time on or prior to the end date of expiration of the Property Inspection Period, to terminate cancel this Agreement and the Escrow by written notice to Seller, in which case Purchaser shall receive a prompt return of the Initial Deposit and Purchaser and Seller and Escrow Agentshall have no further obligations to each other under this Agreement except for those obligations hereunder which expressly survive such termination. Upon termination by Purchaser, Seller shall have the right to demand from Purchaser all third-party, non-proprietary documents obtained by or for Purchaser with respect to its investigations of the Property, all without representation on warranties whatsoever. Notwithstanding anything else contained herein to the contrary, if Buyer Purchaser has not provided Seller with a written notice of approval disapproval of the Property or Property Documents prior to the end of the Property Inspection Period, the Property and Property Documents shall be automatically deemed disapproved approved by Buyer Purchaser as of the end of the Property Inspection Period and Seller’s Purchaser shall deliver the Second Deposit into Escrow in accordance with Section 2.3(b). When Purchaser gives Seller written notice of approval of its due diligence or is deemed to have given Seller notice of such approval, the Deposit shall be non-refundable to Purchaser, except as otherwise expressly set forth in this Agreement. If Purchaser cancels this Agreement as provided in this Section 3.3, then (i) Escrow Agent shall return to Seller all documents Seller deposited with Escrow Agent in connection with the Escrow; (ii) Escrow Agent shall return to Purchaser all documents Purchaser deposited with Escrow Agent in connection with the Escrow; and (iii) Escrow Agent shall return the Deposit to Purchaser. Upon such event, this Agreement and the Escrow shall be deemed null and void and neither party shall have any further rights or obligations to have elected to terminate this Agreement and receive a return of all Xxxxxxx Money paid. The the other hereunder or on account hereof, except for those which by the provisions of this Agreement are expressly stated to survive or occur at termination of this Agreement. Purchaser or Purchaser’s representatives, agents and/or consultants shall keep in full force and effect general liability insurance from an insurance company and in form and substance reasonably approved by Seller, naming Seller as an additional insured during Purchaser’s or Purchaser’s agents, representatives and/or consultants entries and inspections of the Property, as follows: A. Commercial general liability insurance with combined single limits of not less than $1,000,000.00 per occurrence for bodily injury and property damage. B. Any contractor hired to perform environmental tests to the Property shall maintain errors and omissions or professional liability insurance covering injury or damage arising out of the rendering or failing to render professional services with limits of at least $1,000,000.00 per claim. C. All insurance maintained under this Section 5(d) 3.3 shall be procured from insurance companies licensed to do business in Arizona. Any damage, disturbance or other disruption of the Improvements or the Land or other portion of the Property caused by Purchaser or its employees, contractors or agents shall be promptly repaired and/or placed in the condition existing prior to disturbance thereof by Purchaser or its employees, contractors and agents upon completion of any activities by such parties on or with respect to the Property; provided that Purchaser shall not be obligated to restore any adverse pre-existing condition merely discovered by Purchaser. The obligation in the previous sentence shall survive the Close of Escrow or any termination or cancellation of this Agreement.

Property Documents. Prior to the execution of this Agreement, Purchaser hereby acknowledges that Seller has delivered to Buyer certain documents. After Purchaser the Opening Rent Roll and true and correct copies of Escrow, Buyer shall have the right to review at Seller’s offices in Costa Mesa or Perris during normal business hours upon reasonable advance notice, and to make copies of, all non-proprietary, non-confidential written materials and documents pertaining to the Property that are in Seller’s possession and control and which have not previously been delivered to Optionee, including, but not limited to, plans, drawings and specifications, environmental studies and reports, soils reports, geotechnical, engineering and architectural studies, surveys, maps, licenses, permits and approvals respecting the Property, set forth on Schedule 2 (all such documents, together with those previously delivered by Seller to Buyer concerning the Property, the “Property Documents”). Buyer Seller may provide such copies to Purchaser in electronic format. Purchaser acknowledges and agrees that Seller’s Property Documents will be provided by Seller to accommodate and facilitate Purchaser’s investigations relating to the Land and the Property and that, except as expressly set forth herein, Seller makes no representations and warranties of any kind regarding the accuracy or thoroughness of the information contained in Seller’s Property Documents and Purchaser shall not be entitled to rely on the Property Documents. Purchaser must perform its own due diligence investigation of the Properties. Subject to the terms and conditions below, Purchaser shall have until 5:00 p.m. California time on September 30, 2011 (the end of the “Property Inspection Period (as defined in Section 1(b)Period”) to review the Property Documents and perform a feasibility study with respect to the Property which may include reasonable market and engineering studies, leasing and financial investigations, soils soil tests, drainage studies, confirmation that all utilities including water, electric, gas, sewer and telephone are available to the Property, environmental investigations, confirmation of zoning, and/or such other tests, studies or investigations with respect to the Property as Buyer Purchaser deems appropriateappropriate in its sole and absolute discretion. Subject to the rights of tenants of the Property under their respective leases and with reasonable advance notice to Seller, Seller shall allow reasonable cause access to the Property to Buyer be available to Purchaser and the persons reasonably so designated by Buyerit during the regular business hours of the respective Property, and shall afford them the opportunity to inspect and perform any tests upon the Property that Buyer Purchaser deems necessary or appropriate to determine whether the Property is suitable for BuyerPurchaser’s purposes; provided, howeverin Purchaser’s sole and absolute discretion. At Seller’s request, that Buyer may not perform Seller and/or the involved tenant or its designees shall be entitled to accompany Purchaser during any invasive such inspection or subsurface testing on contact with any tenant. Purchaser shall have the Property without right to conduct a Phase I environmental site assessment and, with Seller’s prior written consent, which consent may (to be given or withheld in Seller’s reasonable sole and absolute discretion. Buyer shall promptly after receipt deliver to Seller ) a copy Phase II environmental site assessment (including soils borings, soil sampling and, if relevant, ground water testing, and invasive sampling of all reports, assessments, tests, studies, surveys and appraisals obtained by Buyer building materials with respect to the Premises). Purchaser’s activities at the Property shall be conducted in such a manner so as not to unreasonably interfere with the occupancy of tenants or their employees, licensees or invitees. Purchaser shall have the right to conduct tenant interviews with Seller’s prior consent, not to be unreasonably withheld, but with Purchaser to be accompanied by a Seller representative if required by Seller. Notwithstanding the Closingforegoing, Purchaser shall not conduct any intrusive testing of any of the Properties without the prior written consent (deemed or otherwise) of Seller, not to be unreasonably withheld. If BuyerPurchaser, after conducting such inspections, investigations, and tests, determines that the Property or any part thereof or the Property Documents, or any other aspect of the Property whatsoever, are not not, in BuyerPurchaser’s sole discretion and absolute discretion, satisfactory for any reason, or no reason at all, then Buyer Purchaser may elect, at any time on or prior to the end date of expiration of the Property Inspection Period, to terminate cancel this Agreement and the Escrow by written notice to Seller and Escrow Agent, in which case Purchaser shall receive a prompt return of the Deposit and Purchaser and Seller shall have no further obligations to each other under this Agreement except for those obligations hereunder which expressly survive such termination. Upon termination by Purchaser, but not as a condition precedent to the return of the Deposit to Purchaser, Seller shall have the right to demand from Purchaser and pay the reasonable copying costs for copies of all documents obtained by or for Purchaser with respect to its investigations of the Property, except for such document which are of an internal and proprietary nature or the dissemination of which has been prohibited by the third-party preparer thereof. Notwithstanding anything else contained herein to the contrary, if Buyer Purchaser has not provided Seller with a written notice of approval disapproval of the Property or Property Documents prior to the end of the Property Inspection Period, the Property and Property Documents shall be deemed disapproved approved by Buyer Purchaser. When Purchaser gives Seller written notice of approval of its due diligence or is deemed to have given Seller notice of such approval, the Deposit shall be non-refundable to Purchaser except for a default by Seller (or a casualty or condemnation event, which shall be governed by other provisions of this Agreement). If Purchaser cancels this Agreement as provided in this Section 3.3, then (i) Escrow Agent shall return to Seller all documents Seller deposited with Escrow Agent in connection with the Escrow; (ii) Escrow Agent shall return to Purchaser all documents Purchaser deposited with Escrow Agent in connection with the Escrow; and Seller’s (iii) Escrow Agent shall return the Deposit to Purchaser. Upon such event, this Agreement and the Escrow shall be deemed null and void and neither party shall have any further rights or obligations to the other hereunder or on account hereof, except for those which by the provisions of this Agreement are expressly stated to survive or occur at termination of this Agreement. If Purchaser does not elect to cancel this Agreement as provided in this Section 3.3, Purchaser shall be deemed to have approved all matters concerning the Property and elected to terminate this Agreement proceed with the acquisition of the Property in accordance with and receive a return of all Xxxxxxx Money paid. The provisions of this Section 5(d) shall survive subject to the Close of Escrow or any termination or cancellation terms and conditions of this Agreement. Purchaser or Purchaser’s representatives, agents and/or consultants shall keep in full force and effect general liability insurance from an insurance company and in form and substance reasonably approved by Seller, naming Seller as an additional insured during Purchaser’s or Purchaser’s agents, representatives and/or consultants entries and inspections of the Property, as follows: A. Commercial general liability insurance with combined single limits of not less than $2,000,000.00 per occurrence for bodily injury and property damage, containing an endorsement insuring against damage to the Property and to or from underground utilities. B. Any contractor hired to perform environmental tests to the Property shall maintain errors and omissions or professional liability insurance covering injury or damage arising out of the rendering or failing to render professional services with limits of at least $2,000,000.00 per claim. C. All insurance maintained under this Section 3.3 shall be procured from insurance companies reasonably satisfactory to Seller. D. Notwithstanding the foregoing, Purchaser has previously provided Seller with a Certificate of Insurance evidencing Purchaser’s coverages by Federal Insurance Company which certificate identifies Seller as an additional insured. Seller hereby approves the coverages and insurance company denoted in said Certificate of Insurance. Any damage, disturbance or other disruption of the Improvements or the Land or other portion of the Property caused by Purchaser or its employees, contractors or agents shall be promptly repaired and/or placed in the condition existing prior to disturbance thereof by Purchaser or its employees, contractors and agents upon completion of any activities by such parties on or with respect to the Property.

Property Documents. Prior Seller shall, within five (5) days after the Effective Date, deliver to Buyer true and correct copies of documents set forth on Exhibit “F” (the “Property Documents”) to the execution of this Agreement, Seller has delivered to Buyer certain documents. After the Opening of Escrow, Buyer shall have the right to review at Seller’s offices in Costa Mesa or Perris during normal business hours upon reasonable advance notice, extent such documents exist and to make copies of, all non-proprietary, non-confidential written materials and documents pertaining to the Property that are in Seller’s possession or under Seller’s control. Buyer acknowledges and control and which have not previously been delivered to Optionee, including, but not limited to, plans, drawings and specifications, environmental studies and reports, soils reports, geotechnical, engineering and architectural studies, surveys, maps, licenses, permits and approvals respecting the Property, (all such documents, together with those previously delivered agrees that Seller’s Property Documents will be provided by Seller to Buyer concerning accommodate and facilitate Buyer’s investigations relating to the PropertyLand and the Property and that, except as expressly set forth herein, Seller makes no representations and warranties of any kind regarding the “accuracy or thoroughness of the information contained in Seller’s Property Documents”). Seller’s obligation pursuant to this paragraph 5(b) is solely to provide current and existing documents. Buyer shall have until the end period ending on the date of expiration of the Property Inspection Period (as defined in Section 1(b)) to review the Property Documents and perform a feasibility study with respect to the Property which may include reasonable market and engineering studies, leasing and financial investigations, soils tests, drainage studies, confirmation that all utilities including water, electric, gas, sewer and telephone are available to the Property, environmental investigations, confirmation of zoning, and/or such other tests, studies or investigations with respect to the Property as Buyer deems appropriate. Subject to the rights of Tenants of the Property under their respective Tenant Leases and with reasonable advance notice to Seller and to any applicable Tenant, Seller shall allow reasonable cause access to the Property to be available to Buyer during the Seller’s regular business hours, and the persons reasonably so designated by Buyer, it and shall afford them the opportunity to inspect and perform any tests upon the Property that Buyer deems necessary or appropriate to determine whether the Property is suitable for Buyer’s purposes; provided, however, that Buyer may not perform any invasive or subsurface testing on the Property without . At Seller’s prior written consentrequest, which consent may Seller and/or the involved Tenant or its designees shall be withheld in Seller’s reasonable discretion. entitled to accompany Buyer shall promptly after receipt deliver to Seller a copy of all reports, assessments, tests, studies, surveys and appraisals obtained by Buyer during any such inspection or contact with respect to the Property prior to the Closingany Tenant. If Buyer, after conducting such inspections, investigations, and tests, determines that the Property or any part thereof or the Property Documents, are not not, in Buyer’s sole discretion discretion, satisfactory for any reason, then Buyer may elect, at any time on or prior to the end date of expiration of the Property Inspection Period, to terminate cancel this Agreement and the Escrow by written notice to Seller and Escrow Agent. Notwithstanding anything else contained herein to the contrary, if Buyer has not provided Seller with a written notice of approval of the Property or Property Documents prior to the end of the Property Inspection Period, the Property and Property Documents shall be deemed disapproved by Buyer and Seller’s Buyer shall be deemed to have elected to terminate cancel this Agreement and the Escrow and receive a return of all Xxxxxxx Money paid. The provisions Any damage, disturbance or other disruption of this Section 5(d) the improvements or the Property or other portion of the Property caused by Buyer or its employees, contractors or agents shall survive be promptly repaired and/or placed in the Close condition existing prior to disturbance thereof by Buyer or its employees, contractors and agents upon completion of Escrow any activities by such parties on or any termination or cancellation of this Agreementwith respect to the Property.

Property Documents. Prior to Seller shall, within five (5) days after the execution of this AgreementEffective Date, Seller has delivered deliver to Buyer certain documents. After the Opening true and correct copies of Escrow, Buyer shall have the right to review at Seller’s offices in Costa Mesa or Perris during normal business hours upon reasonable advance notice, and to make copies of, all non-proprietary, non-confidential written materials and documents pertaining to the Property that are in Seller’s possession and control and which have not previously been delivered to Optionee, including, but not limited to, plans, drawings and specifications, environmental studies and reports, soils reports, geotechnical, engineering and architectural studies, surveys, maps, licenses, permits and approvals respecting the Property, set forth on Exhibit “G” (all such documents, together with those previously delivered by Seller to Buyer concerning the Property, the “Property Documents”). Provided Seller timely provided the Property Documents Buyer shall have until the end period of time starting on the Effective Date and ending on the date which is fifteen (15) days thereafter (the “Property Inspection Period (as defined in Section 1(b)Period”) to review the Property Documents and perform a feasibility study with respect to the Property which may include reasonable market and engineering studies, leasing and financial investigations, a physical inspection of the Building soils tests, drainage studies, confirmation that all utilities including water, electric, gas, sewer and telephone are available to the Property, environmental investigations, confirmation of zoning, review of engineering reports and existing Leases and/or such other tests, studies or investigations with respect to the Property as Buyer deems appropriate; provided, however, the Property Inspection Period shall be extended on a day for day basis if the Property Documents are not timely delivered as provided in this Sections 5(d). Seller shall allow reasonable cause access to the Property to be available to Buyer and the persons reasonably so designated by Buyer, it and shall afford them the opportunity to inspect and perform any tests upon the Property that Buyer deems necessary or appropriate to determine whether the Property is suitable for Buyer’s purposes; provided, however, that Buyer may not perform any invasive or subsurface testing on the Property without Seller’s prior written consent, which consent may be withheld in Seller’s reasonable discretion. Buyer shall promptly after receipt deliver to Seller a copy of all reports, assessments, tests, studies, surveys and appraisals obtained by Buyer with respect to the Property prior to the Closing. If Buyer, after conducting such inspections, investigations, and tests, determines that the Property or any part thereof or the Property Documents, are not in Buyer’s sole discretion satisfactory for any reason, then Buyer may elect, at any time on or prior to the end of the Property Inspection Period, to terminate cancel this Agreement by written notice to Seller and Escrow Agent. Notwithstanding anything else contained herein to the contrary, if Buyer has not provided Seller with a written notice of approval of the Property or Property Documents prior to the end of the Property Inspection Period, the Property and Property Documents shall be deemed disapproved by Buyer and Seller’s shall be deemed to have elected to terminate cancel this Agreement and receive a return of all Xxxxxxx Money paid. The provisions of this Section 5(d) shall survive the Close of Escrow or any termination or cancellation of this Agreement.

Property Documents. Prior to the execution of this Agreement, Seller has delivered to Buyer certain documents. After the Opening of Escrow, Buyer shall have the right to review at Seller’s offices in Costa Mesa or Perris during normal business hours upon reasonable advance notice, and to make copies of, all non-proprietary, non-confidential written materials and documents pertaining to the Property that are in Seller’s possession and control and which have not previously been delivered to Optionee, including, but not limited to, plans, drawings and specifications, environmental studies and reports, soils reports, geotechnical, engineering and architectural studies, surveys, maps, licenses, permits and approvals respecting the Property, (all such documents, together with those previously delivered by Seller to Buyer concerning the Property, the “Property Documents”). Buyer shall have until the end Lender may request any of the Property Inspection Period (as defined in Section 1(b)) to review the Property Documents and perform a feasibility study following documents with respect to the Property each property which may include reasonable market serve as collateral for the Project Loan, in form and engineering studiessubstance acceptable to Lender: i. Any copies of easements, leasing covenants and financial investigations, soils tests, drainage studies, confirmation that all utilities including water, electric, gas, sewer and telephone are available restrictions affecting the property to the Property, environmental investigations, confirmation of zoning, and/or such other tests, studies or investigations with respect to the Property as Buyer deems appropriate. Seller shall allow reasonable access to the Property to Buyer and persons reasonably designated be recorded by Buyer, and shall afford them the opportunity to inspect and perform any tests upon the Property that Buyer deems necessary or appropriate to determine whether the Property is suitable for Buyer’s purposes; provided, however, that Buyer may not perform any invasive or subsurface testing on the Property without Seller’s prior written consent, which consent may be withheld in Seller’s reasonable discretion. Buyer shall promptly after receipt deliver to Seller a copy of all reports, assessments, tests, studies, surveys and appraisals obtained by Buyer with respect to the Property prior to the Closing. If Buyer, after conducting such inspections, investigations, and tests, determines that the Property or any part thereof or the Property Documents, are not in Buyer’s sole discretion satisfactory for any reason, then Buyer may elect, Borrower at any time on or prior to the end closing date; ii. A current, binding commitment from the title company to issue the title policy in the amount of the Property Inspection PeriodProject Loan, insuring Lender that the Deed of Trust constitutes a valid first priority lien upon that property, subject only to terminate this Agreement such title exceptions as Lender shall approve in its sole discretion, which such endorsements as Lender shall reasonably require and otherwise in such form and substance as shall be acceptable to Lender; iii. A Phase I Environmental audit report addressed to Lender and, if reasonably deemed necessary or appropriate by written notice Lender based on its review of the Phase I, a Phase II Environmental report prepared by a registered engineer approved by Lender; iv. A current ALTA Survey of the property, prepared by a land surveyor registered under the laws of the subject state, certified in favor of Lender, and otherwise in a form reasonably acceptable to Seller Lender; v. True, correct and Escrow Agent. Notwithstanding anything else contained herein complete copies of a soils/geotechnical report for the property prepared by an engineer and copies of all agreements which are material to the contrary, if Buyer has not provided Seller with a written notice of approval Project; vi. Evidence that sufficient utilities are or will be available for construction of the Property or Property Documents prior to Improvements and the end operation of the Property Inspection PeriodImprovements for their intended purposes; vii. Appropriate written evidence that the property is and upon construction of the Improvements will be in full compliance with all zoning, subdivision, land use and other laws, statutes, ordinances, codes and governmental rules and regulations; viii. Preliminary drawings and specifications for the Property Improvements in form and Property Documents shall be deemed disapproved by Buyer and Seller’s shall be deemed substance satisfactory to have elected to terminate this Agreement and receive a return of all Xxxxxxx Money paid. The provisions of this Section 5(d) shall survive the Close of Escrow or any termination or cancellation of this Agreement.Lender;