MATERIAL CHANGE: Prior to the Closing Date, Seller agrees to prevent any material adverse change in the title or condition of the Property. BUYER’S WORK PRODUCT: As consideration for entering into the Purchase Agreement, if the agreement is cancelled prior to the Closing Date, all of Buyer’s work product pertaining to the subject property shall be turned over to Seller. Buyer’s work product includes but is not limited to surveys, due diligence reports, title reports, preliminary site plans, and a development pro forma. In addition to the conditions already set forth, Buyer shall BUYER’S CONDITIONS OF PURCHASE: have the option of cancelling this contract prior to Closing if any of the following conditions are not met: Clean Title: The property shall have a clean title. Satisfactory Due Diligence: Due diligence, as described in the attached due diligence checklist, shall be satisfactory. The property shall have all necessary entitlements, including but not Entitlements: limited to right-of-way vacations. Seller agrees to cooperate with Buyer to attain necessary entitlements. Property and Construction Financing: is able to secure a combination of cash and new loans in order to purchase and construct Buyer’s project. TRANSFERABILITY: This agreement may be transferred to any entity in Buyer is a Principal. THIS IS A LEGALLY BINDING WHEN SIGNED BY BOTH BUYER AND SELLER, IF NOT UNDERSTOOD, SEEK LEGAL ADVICE. ________________________________________ Buyer Date ________________________________________ Seller Date
MATERIAL CHANGE: Prior to the Closing Date, Seller agrees to prevent any material adverse change in the title or condition of the Property. BUYER’S WORK PRODUCT: As consideration for entering into the Purchase Agreement, if the agreement is cancelled prior to the Closing Date, all of Buyer’s work product pertaining to the subject property shall be turned over to Seller. Buyer’s work product includes but is not limited to surveys, due diligence reports, title reports, preliminary site plans, and a development pro forma. BUYER’S CONDITIONS OF PURCHASE: In addition to the conditions already set forth, Buyer shall have the option of cancelling this contract prior to Closing if any of the following conditions are not met: Clean Title: The property shall have a clean title. Satisfactory Due Diligence: Due diligence, as described in the attached due diligence checklist, shall be satisfactory. Entitlements: The property shall have all necessary entitlements, including but not limited to right-of-way vacations. Seller agrees to cooperate with Buyer to attain necessary entitlements. Property and Construction Financing: is able to secure a combination of cash and new loans in order to purchase and construct Buyer’s project. TRANSFERABILITY: This agreement may be transferred to any entity in Buyer is a Principal. THIS IS A LEGALLY BINDING WHEN SIGNED BY BOTH BUYER AND SELLER, IF NOT UNDERSTOOD, SEEK LEGAL ADVICE. ________________________________________ Buyer Date ________________________________________ Seller Date
Contract_Offer-and-Acceptance.docx