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ARTICLE V - SPECIAL CONDITIONS
<br /> Seller has made a limited number of representations and warranties to Buyer in this Contract.
<br /> In consideration of Buyer waiving additional conditions, representations or warranties from Seller,
<br /> Seller and Buyer hereby agree as follows:
<br /> 5 . 1 . Condition Precedent. Sellers obligation to close under this Contract shall be subject
<br /> to the satisfaction of the following conditions precedent enumerated below. In the event any one of
<br /> these conditions is not satisfied for any reason whatsoever, then this Contract shall terminate , and
<br /> Buyer and Seller shall be fully relieved from all further rights and responsibilities under this contract .
<br /> (A) The complete execution of this Contract by Seller and Buyer and the approval
<br /> of this Contract by Seller (the School Board) at a public meeting, pursuant to § 1013 . 14, Fla.
<br /> Stat.
<br /> (B) No action, suit, proceeding, or official investigation shall have been threatened,
<br /> announced, or commenced by any person or federal, state or local government authority or
<br /> agency that seeks to enjoin, assess civil or criminal penalties against, or obtain anyjudgment,
<br /> order, or consent decree, with respect to either party hereto, in connection with their
<br /> respective representations and obligations under this Contract.
<br /> 5 .2. Inspection Period . Buyer shall have until the date of Closing (herein the "Inspection
<br /> Period ") in which to conduct an investigation of the Property, including, by way of illustration and not
<br /> in limitation and subject to Section 4. 17: inspections as to the physical condition of the Property,
<br /> investigate the availability of utilities, status of zoning or ability to rezone, zoning codes, building
<br /> codes, physical condition and any other condition or characteristic of the Property which Buyer may
<br /> deem necessary or relevant to Buyer in purchasing the Property . Should Buyer for any reason become
<br /> dissatisfied or concerned with the result of any such investigation, search, inquiry or report as
<br /> contemplated hereby, then Buyer may, prior to the expiration of the Inspection Period, terminate this
<br /> Contract by written notice thereof to Seller. Notwithstanding anything to the contrary contained
<br /> herein, if Buyer has not terminated this Contract by written notice delivered to Seller prior to Closing,
<br /> then the Deposit (if any) shall be applicable to the Purchase Price but non-refundable, other than
<br /> pursuant to Section 5 . 1 hereof, except in the event of a default by Seller hereunder.
<br /> 5 .3 . Delivery of Materials . Within five (5) days after the Effective Date of this Contract,
<br /> Seller shall deliver to Buyer copies of all existing studies, tests, environmental audits, soil borings
<br /> results, surveys, site plans, reports, plans, permits, petitions, warranties, applications, certificates,
<br /> reservations, agreements, development orders, approvals, maps, aerials and related materials in its
<br /> possession relating to the Property.
<br /> 5 .4. Intended Use of the Property . The parties acknowledge that Buyer intends to use the
<br /> Property for stormwater retention and right-of-way improvements. Buyer reserves the right to make
<br /> modifications to the Intended Use as Buyer reasonably deems appropriate .
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