Property Investigation. During the Due Diligence Period, Buyer or Buyer’s agents or representatives, at Buyer’s expense, shall be entitled to conduct all desired tests, surveys, appraisals, investigations, examinations and inspections of the Property as Buyer deems appropriate, including but NOT limited to the following:
(i) Inspections: Inspections to determine the condition of any improvements on the Property, the presence of unusual drainage conditions or evidence of excessive moisture adversely affecting any improvements on the Property, the presence of asbestos or existing environmental contamination, evidence of wood-destroying insects or damage therefrom, and the presence and level of radon gas on the Property. Property is sold “AS IS”
(ii) Review of Documents: Review of the Declaration of Restrictive Covenants, Bylaws, Articles of Incorporation, Rules and Regulations, and other governing documents of any applicable owners’ association and/or subdivision. If the Property is subject to regulation by an owners’ association, it is recommended that Buyer review the completed Residential Property and Owners' Association Disclosure Statement provided by Seller prior to signing this offer. It is also recommended that the Buyer determine if the owners’ association charges fees for confirming owners’ association information and restrictive covenant compliance.
(iii) Insurance: Investigation of the availability and cost of insurance for the Property.
Property Investigation. Each Party shall have the right, at its expense, to inspect and investigate the Property being acquired pursuant to the terms and conditions of this paragraph. Each Party shall have the right to enter the Property being acquired at reasonable times and in a reasonable manner for the purpose of investigating the Property. After making such investigation, the investigating Party shall restore the Property to its condition prior to such investigation. The investigating Party shall indemnify, defend, and hold harmless the Property owner from any claims, loss, or damage in connection with such investigation.
Property Investigation. Buyer shall, at its own cost and expense, make its own independent investigation respecting the Property and all other aspects of this transaction, and will rely thereon and on the advice of its consultants in electing to complete the purchase of the Property and, by proceeding with this transaction will be deemed to have determined that the same are satisfactory to Buyer. Without limitation of the foregoing, Buyer represents and warrants to Seller that Buyer shall make such independent investigations as Buyer deems necessary or appropriate concerning the suitability of the Property and the physical condition of all improvements.
Property Investigation. Notwithstanding the provisions of Paragraph 3 of this Article, the Lender may, whenever it deems necessary, investigate the Borrower’s documents, books, and property and business status, and request the submission of documents or materials, in which case the Borrower must cooperate with the Lender’s investigation.
Property Investigation. During the Evaluation Period, Developer and its consultants shall have the right to investigate title and to make such investigations, studies, and tests with respect to the Property as Developer deems necessary or appropriate (individually and together, “Due Diligence”). If Developer exercises its rights of entry under the provisions of this Paragraph 9, then:
Property Investigation. (a) Continuing Access to Property. Upon the opening of Escrow, ----------------------------- BUYER shall have the right, at BUYER's sole expense and risk and subject to SELLER's reasonable security restrictions and the rights of tenants and occupants at the Property ("Tenant"), to have its representatives, employees, contractors and agents ("BUYER's Representatives") enter upon the Real Property, at reasonable times after giving at least twenty-four (24) hours' oral or written notice to SELLER, to conduct any and all tests, inspections and studies as BUYER may deem necessary and desirable, provided that (i) such activities shall not impair the current use, operation and maintenance of the Real Property, (ii) at SELLER's option, any such entry shall be in the company of SELLER's representative, (iii) BUYER shall be responsible for any damage caused thereby to any person, property or to the Property, and (iv) all such investigation shall be subject to the later provisions hereof. Notwithstanding the foregoing, BUYER may not perform any invasive testing on the Real Property without SELLER's prior written consent, which consent may be withheld in SELLER's sole and absolute discretion. In no event shall BUYER or any of BUYER's representatives conduct any activities pursuant to this Section, or otherwise, which would in any way disturb any tenant, or communicate with any tenant without SELLER's express written consent and SELLER may have a representative present during any such communication. BUYER agrees to indemnify, defend and hold harmless SELLER from any and all losses, damages, costs, liabilities and expenses, including, without limitation, attorneys' fees, disbursements and court costs reasonably and actually incurred by SELLER, due to any act or omission of BUYER or BUYER's agents, representatives, contractors or subcontractors during any of their entries on the Property either prior to or after the execution of this Agreement; provided, however, that such indemnity shall not include consequential damages (including, but not limited to, lost profits on the loss of value due to the discovery of environmental contamination). BUYER shall cause to be maintained commercial general liability insurance covering each such entry, which insurance may be obtained by BUYER or the contractor or other party making such entry. Such insurance shall provide coverage for such entry in the amount of not less than $2,000,000 for injury or death to any number of persons in a...
Property Investigation. During the Evaluation Period, Developer and its consultants shall have the right to investigate title and to make such investigations, studies, and tests with respect to the Property as Developer deems necessary or appropriate. If Developer exercises its rights of entry under the provisions of this Paragraph 8, then:
a. Restoration & Liens. Developer shall not damage the Property in any way while conducting its studies and inspections. Promptly following any investigation or study Developer shall restore as nearly as practicable the Property to its condition immediately before such activity. Developer shall not permit liens or encumbrances to be placed against the Property for expenses incurred arising out of any work done or studies undertaken by Developer or at Developer’s direction.
Property Investigation. Buyer or Buyer’s agents or representatives, at Buyer’s expense, shall be entitled to conduct all desired tests, surveys, appraisals, investigations, examinations and inspections of the Property as Buyer deems appropriate, including but NOT limited to the following:
(i) Soil And Environmental: Reports to determine whether the soil is suitable for Buyer’s intended use and whether there is any environmental contamination, law, rule or regulation that may prohibit, restrict or limit Buyer’s intended use.
(ii) Septic/Sewer System: Any applicable investigation(s) to determine: (1) the condition of an existing sewage system, (2) the costs and expenses to install a sewage system approved by an existing Improvement Permit, (3) the availability and expense to connect to a public or community sewer system, and/or (4) whether an Improvement Permit or written evaluation may be obtained from the County Health Department for a suitable ground absorption sewage system.
Property Investigation. Seller shall afford Buyer and Xxxxx’s representatives a continuing right to investigate the Property and conduct such inspections, studies, surveying, testing, design of improvements and other actions as Buyer deems, in its sole and absolute discretion, reasonable or necessary on the Property, commencing on the Effective Date and on the expiration of the Inspection Period unless the Inspection Period is extended in writing by the Parties. Buyer may disclose any Due Diligence Review Materials and other information it receives from Seller to third parties with a bona fide need to know, including, without limitation, any potential lenders, any potential investors and Buyer’s agents, consultants, auditors, investors and attorneys, and as required by applicable law, subpoena or in connection with any litigation. If Buyer determines, in Buyer’s sole and absolute discretion, that the Property is not suitable for Buyer’s purchase and use for any reason or no reason, Buyer may, at any time prior to the expiration of the Inspection Period, elect by giving written notice to Seller and Escrow Agent of Buyer’s election to terminate this Agreement, whereupon the Xxxxxxx Money Deposit (less the Released Amount [defined below]) shall be returned immediately to Buyer and any and all rights and obligations of Xxxxx and Seller hereunder shall terminate (other than any such obligations which, by their express terms, survive any termination of this Agreement). Notwithstanding the foregoing, in the event Buyer determines in its sole discretion that the Property is unsuitable for Buyer based on a curable, physical condition of the Property, Xxxxx agrees to give Seller written notice of such condition and a reasonable period not to exceed ten (10) days to cure such condition. Seller’s failure to elect by written notice to Buyer that it will cure such condition within the 10-day period shall be deemed Seller’s refusal to cure. The Inspection Period shall be extended through the date that is five (5) Business Days after the date Seller elects to cure or not to cure the condition, or after Seller cures the objected to physical condition of the Property (not to exceed fifteen (15) days, after which period Buyer shall have the option to approve or disapprove the Property in its sole discretion, however Seller’s curing of any curable, physical condition of the Property to Buyer’s reasonable satisfaction shall reinstate this Agreement and Xxxxx’s obligation to go forward with the purcha...
Property Investigation
