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survive termination of the Agreement, or (ii) accept title subject to existing defects and
<br />proceed to closing. Any title defects not objected to by Buyer and any title defects that
<br />are not cured by Seller or Buyer, but accepted by Buyer, shall be deemed to be "Permitted
<br />Exceptions".
<br />4.3 The special warranty deed shall contain language limiting the use of the Property to
<br />the Intended Use and such language shall be deemed a Permitted Exception.
<br />5. INSPECTIONS.
<br />5.1 Inspections. Buyer, its agents, employees, and representatives shall have
<br />ninety (90) days after the Effective Date to perform any and all inspections of the Land as the
<br />Buyer deems necessary (the "Inspection Period"). During the Inspection Period, Buyer shall,
<br />at its sole cost and expense, determine that utility services including, water, wastewater,
<br />electric, telephone and all other utilities are available in the proper size and capacity to serve
<br />the existing facilities and installed to the property lines. At all times during the Inspection Period,
<br />Buyer and its agents shall be provided with reasonable access during normal business hours
<br />to the Land for purposes of on-site inspection, upon reasonable prior Notice (a minimum of
<br />twenty-four (24) hours) to Seller. The scope of the inspection contemplated herein shall be
<br />determined by Buyer as deemed appropriate under the circumstances and for this Property.
<br />This Agreement is contingent upon Buyer, at Buyer's sole cost and expense, obtaining and
<br />accepting a Phase I Environmental Audit satisfactory to Buyer and, if deemed necessary from
<br />the results of the Phase I Environmental Audit, and agreed to by Seller, a Phase II
<br />Environmental Audit for which it will be granted an additional thirty (30) day extension to the
<br />Inspection Period.
<br />5.2 Termination. Buyer, at any time during the Inspection Period and in its sole
<br />discretion and for any reason whatsoever, shall be entitled to terminate this Agreement. In
<br />such event, Buyer shall provide a written cancellation notice by mail, email or facsimile to
<br />Seller and/or Seller's counsel and receive the immediate refund of all deposit monies paid
<br />to date. Upon such termination, the Escrow Agent shall be authorized to deliver the deposit
<br />monies, together with any interest earned, if any, as directed by the Buyer, and the parties shall
<br />have no further rights or obligations pursuant to this Agreement. In such event, Escrow Agent
<br />shall be entitled to rely solely upon Buyer's instructions, and Seller shall not be entitled to
<br />object to the disbursement of the Escrow Deposit.
<br />5.3 Deliveries. Within five (5) days from the Effective Date, Seller shall provide Buyer
<br />with any and all relevant information relating to the Property which is in the Seller's
<br />possession, custody or control, including but not limited to all surveys, building plans,
<br />topographical maps, soil borings reports, agreements, environmental reports, leases, property
<br />tax bills, regulations and/or other governmental or quasi -governmental matters affecting the
<br />Property. If requested by Seller, even following termination of this Agreement, Buyer shall
<br />make available to Seller, at no cost and without any representation or warranty, copies of
<br />all soil tests, engineering studies, environmental assessments, site elevations, surveys,
<br />traffic studies, and other non-proprietary data, information, and materials furnished by
<br />Buyer in connection with the zoning, platting, and site planning of the Property, unless
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