9080-19 18100 Detroit Purchase - Laserfiche WebLink

Home Browse Search

damages, suits, liabilities, costs, and expenses arising out of the Inspections conducted by Purchaser or its agents and shall deliver to Seller a certificate of insurance reasonably acceptable to Seller, naming Seller as an additional insured party, prior to Purchaser or its agents entering onto the Premises. Purchaser warrants and represents to restore the Premises to its original condition prior to the Inspection. If the Inspection reveals defects in the property, which are unacceptable to Purchaser or if Purchaser determines that the property is unsuitable for its purpose, Purchaser may, as its sole remedy, terminate this Contract by providing Seller with written notice of its desire to so terminate within ninety (90) days after the last execution of this Contract ( "Contingency Period "). If Purchaser so timely terminates this Contract prior to the expiration of the Contingency Period, the Earnest Money and documents deposited in escrow shall be returned to the party depositing them and this Contract shall be null and void. Purchaser covenants to act in good faith and use due diligence to satisfy the conditions set forth above. If Purchaser fails to timely terminate this Contract prior to the expiration of the Contingency Period, this Contract shall remain in full force and effect and Purchaser shall be deemed to have waived its rights to so terminate. Purchaser agrees to pay all costs in connection with any and all of its due diligence in connection with this transaction, including but not limited to the examination, opinion and insurance of title that may have been ordered by Purchaser. If Purchaser terminates this Contract, Purchaser shall furnish to Seller, at no cost or expense to Seller, copies of all surveys, reports, data, inspections, tests and analyses contained in the Inspection or for the benefit of Purchaser within ten (10) days after Seller's receipt of notice of such termination. Within Ten (10) business days from the date of fully executing this Contract, Seller shall provide Purchaser with a title insurance commitment, existing Environment survey, land survey, appraisal, topography study, site plans, building plans, all material related to utilities for the property, if any, possessed by Seller. 6.2 Seller. Seller's obligation to close this transaction is contingent upon Seller obtaining to its satisfaction and at its sole expense, (i) the execution at closing of a mutual cross- access and parking easement; (ii) all necessary governmental approval including site plan approval for the Donatos Pizza site plan remaining and consisting of parcels 311 -17 -011 and 311 -17 -012. 7. INSURANCE: Purchaser shall name Seller as an additional insured party on its existing policies of insurance covering claims, demands, damages, suits, liabilities, costs, and expenses arising out of injuries to persons or damage to property, including the Premises, suffered or incurred by Seller directly or indirectly, as a result of, the entry onto the Premises by Purchaser, Purchaser's agents, contractors, employees, and licensees; and shall deliver to Seller a certificate of insurance reasonably acceptable to Seller..