Common use of TREATMENTS, REPAIRS, REPLACEMENTS AND REVIEWS Clause in Contracts

TREATMENTS, REPAIRS, REPLACEMENTS AND REVIEWS. Buyer, within 24-hours after expiration of the time period referenced in 7A, shall deliver to Seller, in care of the Listing Broker, a copy of all written reports obtained by Buyer, if any, pertaining to the Property and Buyer shall select one of the following: a. If, in the sole opinion of the Buyer, result of investigations, inspections or reviews are unsatisfactory, the Buyer may cancel the Contract by delivering written notice of cancellation to Seller and receive refund of Xxxxxxx Money. b. Buyer may deliver to Seller a written list of those items to be treated, repaired or replaced (including repairs caused by termites and other wood destroying organisms) that are not in normal working order (defined as the system or component functions without defect for the primary purpose and manner for which it was installed. Defect means a condition, malfunction or problem, which is not decorative, that will have a materially adverse effect on the value of a system or component). i. Seller shall have days (5 days if blank) after receipt of written list from Listing Broker, to obtain cost estimates. Seller agrees to pay up to $ (“Repair Cap”) of costs of Treatment, Repair, and/or Replacement. If Seller obtains cost estimates which exceed Repair Cap, Seller shall notify Buyer, in writing with estimates, within two days after receipt of cost estimates. If the amount of repairs exceed the amount of the Repair Cap, Buyer and Seller shall have days (3 days if blank) thereafter to negotiate the payment of costs in excess of Repair Cap. If a written agreement is reached, Seller shall complete all agreed Treatment, Repairs and/or Replacements prior to the Closing Date. If an agreement is not reached within the time specified in this provision, the Contract shall become null and void and Xxxxxxx Money returned to Buyer. ii. If Seller fails to obtain cost estimates within the stated time, Buyer shall then have days (5 days if blank) to: a) Enter upon the Property to obtain cost estimates and require Seller to be responsible for all Treatments, Repairs and Replacements as noted on Buyer’s “Notice of Treatments, Repairs and Replacements” Form up to the Repair Cap. b) If the amount of repairs exceed the amount of the Repair Cap, Buyer and Seller shall have days (3 days if blank) thereafter to negotiate the payment of costs in excess of Repair Cap. If a written agreement is reached, Seller shall complete all agreed Treatments, Repairs, and Replacements prior to the Closing Date. If an agreement is not reached within the time specified in this provision, the Contract shall become null and void and Xxxxxxx Money returned to Buyer.

TREATMENTS, REPAIRS, REPLACEMENTS AND REVIEWS. Buyer or Buyer’s Broker, if applicable, within 24-24 hours after expiration of the time period referenced in 7A, shall deliver to Seller, in care of the Listing Seller’s Broker, if applicable, a copy of all written reports obtained by BuyerXxxxx, if any, pertaining to the Property and Buyer shall select one of the following: a. If, in the sole opinion of the Buyer, result results of investigationsInvestigations, inspections Inspections or reviews Reviews are unsatisfactory, the Buyer may cancel the Contract by delivering written notice of cancellation to Seller Seller, in care of Seller’s Broker, if applicable, and receive refund of Xxxxxxx Money. b. Buyer may deliver Buyer, upon completion of all Investigations, Inspections and Reviews, waives Buyer’s right to Seller cancel as provided in Paragraph 7, subparagraph C2a above, by delivering to Seller, in care of Seller’s Broker, if applicable, a written list on a Notice of Treatments, Repairs, and Replacements form (TRR form) of those items to be treated, repaired or replaced (including repairs caused by termites and other wood destroying organismsinsects) that are not in normal working order (defined as the system or component functions without defect for the primary purpose and manner for which it was installed. Defect means a condition, malfunction or problem, which is not decorative, that will have a materially adverse effect on the value of a system or component). i. Seller shall have days (5 days if blank) after receipt of written list the completed TRR form from Listing Seller’s Broker, if applicable, to obtain cost costs estimates. Seller agrees to pay up to $ (“Repair Cap”) of costs of Treatment, Repair, and/or ReplacementTRR’s. If Seller Seller, or Seller’s Broker, if applicable, obtains cost estimates which exceed Repair Cap, Seller Seller, or Seller’s Broker, if applicable, shall notify Buyer or Buyer’s Broker, if applicable, in writing with estimateswriting, within two days after receipt of cost estimates. If the amount of repairs the TRR’s exceed the amount of the Repair Cap, Buyer and Seller shall have days (3 days if blank) thereafter to negotiate the payment of costs in excess of Repair Cap. If a written agreement is reached, Seller shall complete all agreed Treatment, Repairs and/or Replacements TRR’s prior to the Closing Date. If an agreement is not reached within the time specified in this provision, the Contract shall become null and void and Xxxxxxx Money returned to Buyer. ii. If Seller fails to obtain cost estimates within the stated time, Buyer shall then have days (5 days if blank) to: a) Enter upon the Property to obtain cost costs estimates and require Seller to be responsible for all Treatments, Repairs and Replacements TRR’s as noted on BuyerXxxxx’s “Notice of TreatmentsTRR form, Repairs and Replacements” Form up to the Repair Cap.; and, b) If the amount of repairs the TRR’s exceed the amount of the Repair Cap, Buyer and Seller shall have days (3 days if blank) thereafter to negotiate the payment of costs in excess of Repair Cap. If a written agreement is reached, Seller shall complete all agreed Treatments, Repairs, and Replacements TRR’s prior to the Closing Date. If an agreement is not reached within the time specified in this provision, the Contract shall become null and void and Xxxxxxx Money returned to Buyer.

TREATMENTS, REPAIRS, REPLACEMENTS AND REVIEWS. Buyer or Buyer’s Broker, if applicable, within 24-24 hours after expiration of the time period referenced in 7AParagraph 7A of the Contract, shall deliver to Seller, in care of the Listing Seller’s Broker, if applicable, a copy of all written reports obtained by BuyerXxxxx, if any, pertaining to the Property and Buyer shall select one of the following: a. If, in the sole opinion of the Buyer, result results of investigationsInvestigations, inspections Inspections or reviews are unsatisfactory, the Buyer may cancel the Contract by delivering written notice of cancellation to Seller Seller, in care of Seller’s Broker, if applicable, and receive refund of Xxxxxxx Money. b. Buyer may deliver Buyer, upon completion of all Investigations, Inspections and reviews, waives Buyer’s right to Seller cancel as provided in 7C2a above, by delivering to Seller, in care of Seller’s Broker, if applicable, a written list on a Notice of Treatments, repairs, and replacements form (Trr form) of those items to be treated, repaired or replaced (including repairs caused by termites and other wood destroying organismsinsects) that are not in normal working order (defined as the system or component functions without defect for the primary purpose and manner for which it was installed. Defect means a condition, malfunction or problem, which is not decorative, that will have a materially adverse effect on the value of a system or component). i. Seller shall have days (5 days if blank) after receipt of written list the completed Trr form from Listing Seller’s Broker, if applicable, to obtain cost costs estimates. Seller agrees to pay up to $ (“Repair repair Cap”) of costs of Treatment, Repair, and/or ReplacementTrr’s. If Seller Seller, or Seller’s Broker, if applicable, obtains cost estimates which exceed Repair repair Cap, Seller Seller, or Seller’s Broker, if applicable, shall notify Buyer or Buyer’s Broker, if applicable, in writing with estimateswriting, within two days after receipt of cost estimates. If the amount of repairs the Trr’s exceed the amount of the Repair repair Cap, Buyer and Seller shall have days (3 days if blank) thereafter to negotiate the payment of costs in excess of Repair repair Cap. If a written agreement is reached, Seller shall complete all agreed Treatment, Repairs and/or Replacements Trr’s prior to the Closing Date. If an agreement is not reached within the time specified in this provision, the Contract shall become null and void and Xxxxxxx Money returned to Buyer. ii. If Seller fails to obtain cost estimates within the stated time, Buyer shall then have days (5 days if blank) to: a) Enter upon the Property to obtain cost costs estimates and require Seller to be responsible for all Treatments, Repairs and Replacements Trr’s as noted on BuyerXxxxx’s “Notice of TreatmentsTrr form, Repairs and Replacements” Form up to the Repair repair Cap.; and, b) If the amount of repairs the Trr’s exceed the amount of the Repair repair Cap, Buyer and Seller shall have days (3 days if blank) thereafter to negotiate the payment of costs in excess of Repair repair Cap. If a written agreement is reached, Seller shall complete all agreed Treatments, Repairs, and Replacements Trr’s prior to the Closing Date. If an agreement is not reached within the time specified in this provision, the Contract shall become null and void and Xxxxxxx Money returned to Buyer.