12/19/2017 - Laserfiche WebLink

Home Browse Search

affiliates' respective officers', directors', partners', members', beneficial owners', and controlling entities' involvement in any pending or threatened litigation affecting the Seller or any of Seller's affiliates. 6. Contingencies/Right to Cancel: (a) Buyer shall have 0 (if left blank then 15) days after the Effective Date (the'Uspection Period") to conduct a building inspection, radon au and water test, sewage disposal system test, asbestos test, lead paint test, and domestic water test (if private water supply), all paid by Buyer. If Buyer determines, in Buyer's sole discretion, that the Property is not acceptable to Buyer, Buyer.may terminate this Agreement by delivering written notice of such election to Seller prior to expiration of the Inspection Period. If Buyer timely terminates this Agreement, the Deposit paid shall be returned to Buyer, thereupon, Buyer and Seller shall be released of all furtherobiigations under this, Agreement; however, Buyer shall be responsible for prompt payment for such Inspections, for repair of. damage to, and restoration of, the Property resulting from such Inspections, and shall provide Seller with paid receipts for all work done on the Property (the preceding provision shall survive termination of this Agreement). unless Buyer exercises the right to terminate granted herein, Buyeraccepts the physical condition of the Property and. any violation of governmental, building, environmental, and safety codes, restrictions, or requirements, and Buyer shall be responsible for any and all repairs and improvements required by Buyer's lender. (b) Notwithstanding paragraph 6(a) above, Buyer acknowledges full satisfaction with the physical condition of the Property and that Seller has made no representation, promise, or warranty of any kind on which Buyer has relied relating to the physical condition or history of the Property, and Buyer covenants and agrees that Buyer will accept the Property in its present condition. Seller disclaims all warranties of fitness for a particular purpose or of merchantability or habitability, } either expressed or implied. Buyer agrees to take the Property "AS IS". (c) 'There is no financing contingency, and Buyer will pay cash at Closing, unless the information required to be completed in this paragraph 6(c) regarding financing is fully completed, in which case, this Agreement is contingent upon Buyer receiving a commitment for financing for up to cos°la of the Purchase Price based on$uyer`s creditworthiness and the type of real estate being purchased (the "Financing Contingency"). If Buyer is unable to obtain financing, Buyer must notify Seller in writing and provide proof that financing has been denied within N A days after the Effective Date of this Agreement; otherwise, the Financing Contingency willbe considered waived, and the Financing Contingency will not be grounds for Buyer to terminate this Agreement. Buyer shall make its loan application for financing within 5 days after the Effective Date and use good faith and diligent effort to obtain a written loan commitment and close this Agreement, Buyer shall keep Seller fully informed about the status of the loan application and . Page 2 of 10 FL Confidential '%% i