Common use of Purchasers Contingencies Clause in Contracts

Purchasers Contingencies. a. Within ten (10) days following the Effective Date Seller shall provide copies of the following documents to Purchaser (all of which shall remain confidential and reviewed only by Purchaser, its accountants, attorneys, and lenders): (i) A legal description of the Property. (ii) A current rent roll dated within thirty (30) days of the Effective Date. (iii) Copies of all tenant leases affecting the Property. 2 (iv) Copies of all current ad valorem tax bills and a list of utility bills pertaining to one (1) year prior to the Effective Date, along with paid receipts, if any. (v) A copy of the most recent existing survey in Seller's possession. (vi) Copies of all third party agreements pertaining to the property such as service contracts, personal property financing statements, equipment leases, etc. (vii) A copy of Seller's most recent insurance policy or binder covering the Property (the same may be within a master policy). (viii) A copy of the most recent environmental report for the Property, together with any written notices received by Seller pertaining to any environmental matters. (ix) A description of any capital improvements made to the property or contemplated during the term of this Agreement. (x) Marketing materials or Property brochures relating to the Property, if any. (xi) Copies of any site plans, plot plans or floor plans in Seller's possession or control, if any. If within fifteen (15) business days following the receipt by Purchaser of the aforementioned documents ("Document Review Period") Purchaser notifies Seller, in writing, that it is dissatisfied in its sole discretion with any aspect of such documents or reports, then Purchaser may elect to terminate this Agreement in which event Purchaser shall receive an immediate refund of the Deposit in full in complete termination of the rights and obligations of the parties hereunder. (b) Purchaser shall be permitted to conduct an updated survey of the Property during a period of time beginning on the date Purchaser receives the legal description of the Property and ending thirty (30) days thereafter. Any objections based on a survey of the Property shall be made within ten (10) days after its receipt by Purchaser. Seller shall then have a period of ten (10) days after receiving such objections, together with a copy of said survey, to advise Purchaser as to whether Seller intends to resolve any objections raised by Purchaser. If Seller cannot or shall elect not to resolve such objections, then Purchaser may elect to terminate this Agreement in which event Purchaser shall receive an immediate refund of the Deposit in full and complete termination of the rights and obligations of the parties hereunder. The foregoing notwithstanding, Purchaser's objections to its survey will be limited only to any material discrepancies between the survey and the most current survey provided by Seller. (c) The parties acknowledge and agree that Purchaser intends to obtain (i) a current appraisal of the Property by an appraiser of its choosing, (ii) a current Phase I environmental study and report concerning the Property conducted by a company satisfactory to Purchaser's lender and (iii) a physical inspection of the Property, including, without limitation, the roof, walls, plumbing, HVAC, mechanical and electrical systems (collectively, the "Reports."). Seller agrees to cooperate with Purchaser so that Purchaser may obtain the Reports as expeditiously as possible. Purchaser agrees to conduct the investigations required for such Reports so as to minimize any interference with Seller's use of the Property and to obtain the Reports as expeditiously as reasonably possible. Purchaser shall have a period of forty-five (45) calendar days following the expiration of the Document Review Period to complete the reports and any other investigations Purchaser may desire (the "Investigation Period"). If Purchaser notifies Seller in writing during the Investigation Period that it is dissatisfied, in Purchaser's sole discretion with the Property, then Purchaser may elect to terminate this Agreement by delivery of notice to Seller in which event Purchaser shall receive an immediate refund of the Deposit in full and complete termination of the rights and obligations of the parties hereunder. If no notice of dissatisfaction is given as aforesaid, the Purchaser's Investigation and right to terminate shall be deemed waived. (d) This Agreement is contingent upon Buyer obtaining a mortgage commitment reasonably satisfactory to Buyer within sixty (60) days after execution of this Agreement (the "Financing Contingency Period"). Buyer shall apply promptly for such commitment and shall pursue same with good faith and due diligence. If Buyer is unable to obtain such commitment within the time period set forth above, either party may thereupon terminate this Agreement and the Deposit shall be returned to Buyer.

Purchasers Contingencies. a. Within ten Purchaser’s obligations under this Agreement are expressly contingent on the following: (10a) days following all of Seller’s representations and warranties shall be true and correct as of the Effective Closing Date in all material respects, (b) Seller shall provide copies have complied with all terms and conditions of this Agreement, (c) the Property shall be in substantially the same condition as at the expiration of the following documents Inspection Period, damage by casualty and reasonable wear and tear excepted, (d) Seller shall have delivered to Purchaser (all prior to Closing estoppel certificates acceptable to Purchaser in the form of which shall remain confidential and reviewed only by Purchaser, its accountants, attorneys, and lenders): (i) A legal description Exhibit H attached hereto consisting of 100% of the Property. leased rentable square footage of the Property (iicollectively, the “Estoppel Threshold”) A current rent roll and dated within no earlier than thirty (30) days of the Effective Date. (iii) Copies of all tenant leases affecting the Property. 2 (iv) Copies of all current ad valorem tax bills and a list of utility bills pertaining to one (1) year prior to the Effective Date, along with paid receipts, if any. (v) A copy of the most recent existing survey in Seller's possession. (vi) Copies of all third party agreements pertaining to the property such as service contracts, personal property financing statements, equipment leases, etc. (vii) A copy of Seller's most recent insurance policy or binder covering the Property Closing (the same may be within a master policy“Tenant Estoppels”). , (viiie) A copy of the most recent environmental report for the PropertySeller shall have delivered to Purchaser prior to Closing subordination, together with any written notices received by Seller pertaining to any environmental matters. nondisturbance and attornment agreements (ix“SNDAs”) A description of any capital improvements made to the property or contemplated during the term of this Agreement. (x) Marketing materials or Property brochures relating to the Property, if any. (xi) Copies of any site plans, plot plans or floor plans in Seller's possession or control, if any. If within fifteen (15) business days following the receipt by Purchaser of the aforementioned documents ("Document Review Period") Purchaser notifies Seller, in writing, that it is dissatisfied in its sole discretion with any aspect of such documents or reports, then Purchaser may elect to terminate this Agreement in which event Purchaser shall receive an immediate refund of the Deposit in full in complete termination of the rights and obligations of the parties hereunder. (b) Purchaser shall be permitted to conduct an updated survey from each Tenant of the Property during from which a period of time beginning on the date Purchaser receives the legal description of the Property and ending thirty (30) days thereafter. Any objections based on a survey of the Property shall be made within ten (10) days after its receipt by Purchaser. Seller shall then have a period of ten (10) days after receiving such objections, together with a copy of said survey, Tenant Estoppel is required pursuant to advise Purchaser as to whether Seller intends to resolve any objections raised by Purchaser. If Seller cannot or shall elect not to resolve such objections, then Purchaser may elect to terminate this Agreement being in which event Purchaser shall receive an immediate refund of the Deposit in full and complete termination of the rights and obligations of the parties hereunder. The foregoing notwithstanding, Purchaser's objections to its survey will be limited only to any material discrepancies between the survey and the most current survey provided by Seller. (c) The parties acknowledge and agree that Purchaser intends to obtain (i) a current appraisal of the Property by an appraiser of its choosing, (ii) a current Phase I environmental study and report concerning the Property conducted by a company form reasonably satisfactory to Purchaser's lender Purchaser and its lender(s), and (iiif) a physical inspection of the Property, including, without limitationat Closing, the roof, walls, plumbing, HVAC, mechanical and electrical systems Title Company shall have delivered the Title Policy or irrevocably committed itself in writing to deliver it (collectively, the "Reports."“Purchaser’s Contingencies”). Seller agrees to cooperate with Purchaser so that Purchaser may obtain the Reports If Purchaser’s Contingencies as expeditiously as possible. Purchaser agrees to conduct the investigations required defined above or otherwise expressly provided for such Reports so as to minimize any interference with Seller's use of the Property and to obtain the Reports as expeditiously as reasonably possible. in this Agreement are not fully satisfied, Purchaser shall have a period of forty-five (45) calendar days following the expiration of the Document Review Period to complete the reports and any other investigations Purchaser may desire (the "Investigation Period"). If Purchaser notifies Seller in writing during the Investigation Period that it is dissatisfied, in Purchaser's sole discretion with the Property, then Purchaser may elect right to terminate this Agreement by delivery of written notice to Seller in which event Purchaser case neither party hereto shall receive an immediate refund of the Deposit in full and complete termination of the have any further rights or obligations under this Agreement whatsoever, except for such rights and obligations that, by the express terms hereof, survive any termination of the parties hereunderthis Agreement. If no notice of dissatisfaction is given as aforesaid, the Purchaser's Investigation and right to terminate Purchaser shall be deemed waived. (d) This Agreement is contingent upon Buyer obtaining a mortgage commitment reasonably satisfactory to Buyer within sixty (60) days after execution of this Agreement (the "Financing Contingency Period"). Buyer shall apply promptly for such commitment and shall pursue same with good faith and due diligence. If Buyer is unable to obtain such commitment within the time period set forth above, either party may thereupon terminate this Agreement and as provided in the Deposit preceding sentence, then Purchaser shall be returned entitled hereunder to Buyerreceive from the Title Company a refund of all of the Xxxxxxx Money.

Purchasers Contingencies. a. Within ten (10) days following The purchase of this Property shall be contingent upon the Effective Date Seller shall provide copies Purchaser's written approval of the following documents following, in addition to Purchaser (all conditions and/or contingencies listed elsewhere herein: a. The Purchaser's approval of which shall remain confidential and reviewed only by Purchaser, its accountants, attorneysthe Preliminary Title Report, and lenders):all documents described within the Preliminary Title Report, issued by Chicago Title concerning the property. (i) A legal description b. Purchaser shall have the right, at Purchaser's expense, to select a licensed, qualified professional(s), to make "inspections" including tests, surveys, other studies, inspections and investigations of the Property. (ii) A current rent roll dated within thirty (30) days of the Effective Date. (iii) Copies of subject property, including but not limited to all tenant leases affecting the Property. 2 (iv) Copies of all current ad valorem tax bills surveys and a list of utility bills pertaining engineering as to one (1) year prior to the Effective Datesoils conditions, along with paid receiptssewer, if any. (v) A copy of the most recent existing survey in Seller's possession. (vi) Copies of all third party agreements pertaining water, electric, phone, gas and cable accessibility, flood plain studies, height restrictions, airport noise, pollution studies and arterial location studies, hydrology reports, tortoise migration reports, other environmental hazards such as below ground gas tanks and other substances, products and geological conditions, access to the property such as service contracts, personal property financing statements, equipment leases, etc. and financing. The above contingencies in Paragraph 9(a) and (viib) A copy of Sellerare solely for the Purchaser's most recent insurance policy or binder covering the Property (the same may be within a master policy). (viii) A copy benefit. Each of the most recent environmental report for above listed contingencies must be approved or disapproved, in writing, by the Property, together with any written notices received by Seller pertaining to any environmental matters. (ix) A description of any capital improvements made to the property Purchaser on or contemplated during the term of this Agreement. (x) Marketing materials or Property brochures relating to the Property, if any. (xi) Copies of any site plans, plot plans or floor plans in Seller's possession or control, if any. If within before fifteen (15) business days following from the receipt by of said documents, or access is given to the property, whichever comes later. Should Purchaser of not approve, for any reason whatsoever, the aforementioned documents ("Document Review Period") above contingencies, the Purchaser notifies Seller, in writing, that it is dissatisfied in its sole discretion with any aspect of such documents or reports, then Purchaser may elect shall have the right to terminate this Agreement in which and cancel escrow. In the event the Purchaser shall receive an immediate refund terminates this agreement due to Purchaser's disapproval of any of the Deposit in full in complete termination of the rights and obligations of the parties hereunder. (b) above items, any deposits made by Purchaser shall be permitted immediately returned to conduct an updated survey of the Property during a period of time beginning on the date Purchaser receives the legal description of the Property less any escrow costs incurred and ending thirty (30) days thereafter. Any objections based on a survey of the Property shall be made within ten (10) days after its receipt by Purchaser. Seller shall then have a period of ten (10) days after receiving such objections, together with a copy of said survey, to advise Purchaser as to whether Seller intends to resolve any objections raised by Purchaser. If Seller cannot or shall elect not to resolve such objections, then Purchaser may elect to terminate this Agreement in which event Purchaser shall receive an immediate refund of have no further obligations under this agreement and/or liability to the Deposit in full and complete termination of the rights and obligations of the parties hereunder. The foregoing notwithstanding, Purchaser's objections to its survey will be limited only to any material discrepancies between the survey and the most current survey provided by Seller. (c) The parties acknowledge and agree that Purchaser intends to obtain (i) a current appraisal of the Property by an appraiser of its choosing, (ii) a current Phase I environmental study and report concerning the Property conducted by a company satisfactory to Purchaser's lender and (iii) a physical inspection of the Property, including, without limitation, the roof, walls, plumbing, HVAC, mechanical and electrical systems (collectively, the "Reports."). Seller agrees to cooperate with Purchaser so that Purchaser may obtain the Reports as expeditiously as possible. Purchaser agrees to conduct the investigations required for such Reports so as to minimize any interference with Seller's use of the Property and to obtain the Reports as expeditiously as reasonably possible. Purchaser shall have a period of forty-five (45) calendar days following be solely responsible for all costs involved in satisfying the expiration of above stated contingencies. In the Document Review Period to complete event the reports and any other investigations Purchaser may desire (the "Investigation Period"). If Purchaser notifies Seller in writing during the Investigation Period that it is dissatisfied, in Purchaser's sole discretion with the Property, then Purchaser may elect to terminate this Agreement by delivery of notice to Seller in which event Purchaser shall receive an immediate refund of the Deposit in full and complete termination of the rights and obligations of the parties hereunder. If no notice of dissatisfaction is given as aforesaidapproves said contingencies, the Purchaser's Investigation and right to terminate shall be deemed waived. (d) This Agreement is contingent upon Buyer obtaining a mortgage commitment reasonably satisfactory to Buyer within sixty (60) days after execution of this Agreement (the "Financing Contingency Period"). Buyer xxxxxxx money deposit shall apply promptly for such commitment and shall pursue same with good faith and due diligence. If Buyer is unable to obtain such commitment within toward the time period set forth above, either party may thereupon terminate this Agreement and the Deposit shall be returned to Buyerpurchase price at close of escrow.

Purchasers Contingencies. a. Within (a) This Agreement shall be subject to and contingent upon Purchaser’s satisfaction with (i) title to the Property, (ii) the condition of the Property, and (iii) the feasibility of purchasing the Property (individually a “Purchaser Contingency” and collectively, the “Purchaser Contingencies”). To facilitate Purchaser’s review of such matters, within ten (10) days following after the Effective Date Date, Seller shall provide copies deliver one copy of the following documents to Purchaser (all of which shall remain confidential and reviewed only by Purchaser, its accountants, attorneys, and lenders): (i) A legal description of the Property. (ii) A current rent roll dated within thirty (30) days of the Effective Date. (iii) Copies of all tenant leases affecting the Property. 2 (iv) Copies of all current ad valorem tax bills and a list of utility bills pertaining to one (1) year prior to the Effective Date, along with paid receipts, if any. (v) A copy of the most recent existing survey in Seller's possession. (vi) Copies of all third party agreements pertaining to the property such as service contracts, personal property financing statements, equipment leases, etc. (vii) A copy of Seller's most recent insurance policy or binder covering the Property (the same may be within a master policy). (viii) A copy of the most recent environmental report for the Property, together with any written notices received by Seller pertaining to any environmental matters. (ix) A description of any capital improvements made to the property or contemplated during the term of this Agreement. (x) Marketing materials or Property brochures relating respect to the Property, if any. (xi) Copies of any site plans, plot plans or floor plans to the extent that they are in Seller's ’s possession (the “Due Diligence Materials”): (a) the latest annual property tax bills for the Property (or control, if any. If within fifteen (15) business days following the receipt by Purchaser of the aforementioned documents ("Document Review Period") Purchaser notifies Seller, in writing, that it is dissatisfied in its sole discretion with any aspect of such documents or reports, then Purchaser Seller may elect to terminate satisfy this Agreement in which event Purchaser shall receive an immediate refund requirement by delivery of a Preliminary Title Report stating the property tax account number and property tax amount for the Property); (b) any existing written environmental studies or reports on the Property, and any written materials concerning any environmental contamination or clean up on the Property that took place during the period of Seller’s ownership; (c) the architectural, mechanical, electrical, sprinkler, and civil drawings and specifications and “as built” plans for the improvements on the Property; (d) any soils reports, geological studies, and any seismic studies concerning the Property; and (e) a copy of the Deposit in full in complete termination certificate of occupancy for the rights building(s), structures and obligations of other improvements on the parties hereunderProperty. (b) Purchaser shall be permitted to conduct an updated survey notify Seller in writing of the Property during a period failure of time beginning on the date any Purchaser receives the legal description of the Property and ending thirty (30) days thereafter. Any objections based on a survey of the Property shall be made within ten (10) days after its receipt by Purchaser. Seller shall then have a period of ten (10) days after receiving such objections, together with a copy of said survey, to advise Purchaser as to whether Seller intends to resolve any objections raised by Purchaser. If Seller canContingency not or shall elect not to resolve such objections, then Purchaser may elect to terminate this Agreement in which event Purchaser shall receive an immediate refund of the Deposit in full and complete termination of the rights and obligations of the parties hereunder. The foregoing notwithstanding, Purchaser's objections to its survey will be limited only to any material discrepancies between the survey and the most current survey provided by Seller. (c) The parties acknowledge and agree that Purchaser intends to obtain (i) a current appraisal of the Property by an appraiser of its choosing, (ii) a current Phase I environmental study and report concerning the Property conducted by a company satisfactory to Purchaser's lender and (iii) a physical inspection of the Property, including, without limitation, the roof, walls, plumbing, HVAC, mechanical and electrical systems (collectively, the "Reports."). Seller agrees to cooperate with Purchaser so that Purchaser may obtain the Reports as expeditiously as possible. Purchaser agrees to conduct the investigations required for such Reports so as to minimize any interference with Seller's use of the Property and to obtain the Reports as expeditiously as reasonably possible. Purchaser shall have a period of later than forty-five (45) calendar days following after the expiration of Effective Date (this time period is sometimes referred to as the Document Review Period to complete the reports and any other investigations Purchaser may desire (the "Investigation “Due Diligence Period"”). If Purchaser notifies Purchaser’s failure to notify Seller in writing during the Investigation Period that it is dissatisfied, in Purchaser's sole discretion with the Property, then Purchaser may elect to terminate this Agreement by delivery of notice to Seller in which event Purchaser shall receive an immediate refund of the Deposit in full and complete termination failure of the rights and obligations of the parties hereunder. If no notice of dissatisfaction is given as aforesaid, the Purchaser's Investigation and right to terminate any Purchaser Contingency within such Due Diligence Period shall be conclusively deemed waiveda waiver of such Purchaser Contingency. (d) This Agreement is contingent upon Buyer obtaining a mortgage commitment reasonably satisfactory to Buyer within sixty (60) days after execution of this Agreement (the "Financing Contingency Period"). Buyer shall apply promptly for such commitment and shall pursue same with good faith and due diligence. If Buyer is unable to obtain such commitment within the time period set forth above, either party may thereupon terminate this Agreement and the Deposit shall be returned to Buyer.