Common use of Temporary and Final Certificates of Occupancy Clause in Contracts

Temporary and Final Certificates of Occupancy. Buyer hereby accepts that Seller may only be able to provide a temporary/conditional certificate of occupancy as opposed to a final certificate of occupancy or its equivalent (each a “Certificate of Occupancy”) prior to Closing, and in such event, Seller shall have one year from Closing to provide Buyer a final Certificate of Occupancy or its equivalent issued by the applicable governing authorities. If (x) a Certificate of Occupancy (which may be conditional or temporary) has not been issued for the Unit on or before the latter of: (1) 24 months after the issuance of a building permit; or (2) 30 months after MEC, and (y) the failure to obtain such Certificate of Occupancy is not the result of the occurrence of an event set forth in Section 6.2 of this Addendum; then Buyer may issue to Seller a written Notice to Terminate. If a Certificate of Occupancy (which may be conditional or temporary) has not been issued for the Unit within 30 days of such Notice to Terminate, then unless Buyer has withdrawn the Notice to Terminate in writing within such 30 day period, the Contract will terminate at the expiration of such 30 days and all Xxxxxxx Money, without interest, shall be returned to Buyer together with the sum of $100.00 as Buyer’s sole and exclusive remedy, notwithstanding any other provision of the Contract to the contrary. Buyer shall not be entitled to seek specific performance under this Contract, nor will Buyer be entitled to receive special, exemplary, consequential, incidental, or punitive damage.

Temporary and Final Certificates of Occupancy. Buyer hereby accepts that Seller may only be able to provide a temporary/conditional certificate of occupancy as opposed to a final certificate of occupancy or its equivalent (each a “Certificate of Occupancy”) prior to Closing, and in such event, Seller shall have one year from Closing to provide Buyer a final Certificate of Occupancy or its equivalent issued by the applicable governing authorities. If (x) a Certificate of Occupancy (which may be conditional or temporary) has not been issued for the Unit on or before the latter of: (1) 24 months after the issuance of a building permit; or (2) 30 months after MEC, and (y3) the failure to obtain such Certificate of Occupancy is not the result of the occurrence of an event set forth in Section 6.2 of this Addendum; then Buyer may issue to Seller a written Notice to Terminate. If a Certificate of Occupancy (which may be conditional or temporary) has not been issued for the Unit within 30 days of such Notice to Terminate, then unless Buyer has withdrawn the Notice to Terminate in writing within such 30 day period, the Contract will terminate at the expiration of such 30 days and all Xxxxxxx Money, without interest, shall be returned to Buyer together with the sum of $100.00 as Buyer’s sole and exclusive remedy, notwithstanding any other provision of the Contract to the contrary. Buyer shall not be entitled to seek specific performance under this Contract, nor will Buyer be entitled to receive special, exemplary, consequential, incidental, or punitive damage.

Temporary and Final Certificates of Occupancy. Buyer hereby accepts that Seller may only be able to provide a temporary/conditional certificate of occupancy as opposed to a final certificate of occupancy or its equivalent (each a “Certificate of Occupancy”) prior to Closing, and in such event, Seller shall have one year from Closing to provide Buyer a final Certificate of Occupancy or its equivalent issued by the applicable governing authorities. If (x) a Certificate of Occupancy (which may be conditional or temporary) has not been issued for the Unit on or before the latter of: (1) 24 months after the issuance of a building permit; or (2) 30 months after MEC, and (y) the failure to obtain such Certificate of Occupancy is not the result of the occurrence of an event set forth in Section 6.2 of this Addendum; then Buyer may issue to Seller a written Notice to Terminate. If a Certificate of Occupancy (which may be conditional or temporary) has not been issued for the Unit within 30 days of such Notice to Terminate, then unless Buyer has withdrawn the Notice to Terminate in writing within such 30 day period, the Contract will terminate at the expiration of such 30 days and all Xxxxxxx Money, without interest, shall be returned to Buyer together with the sum of $100.00 as Buyer’s sole and exclusive remedy, notwithstanding any other provision of the Contract to the contrary. Buyer shall not be entitled to seek specific performance under this Contract, nor will Buyer be entitled to receive special, exemplary, consequential, incidental, or punitive damage.