2012 006 Ordinance - Laserfiche WebLink

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may request in its sole discretion. Seller shall provide an affidavit or otherwise satisfy the requirements of Title Company relating to the deletion of the so-called "standard printed exceptions". (d} During the Inspection Period, Buyer shall have the right to obtain, at Buyer's, sole cost and expense, a survey drawing and legal description of the Property prepared by a surveyor registered and licensed in Ohio (the "Survey"). The Survey shall be an ALTA/ACSM land title survey prepared in accordance with "Minimum Standard Detail Requirements for ALTA/ACSM Land Title Surveys", which shall include such Table A items as specified by Buyer, and shall be certified to Buyer, Title Company, and any other person Buyer may designate. The legal description set forth in the Survey shall be attached to the Deed (as defined in Section 7) as an exhibit. Upon Buyer's receipt of such Survey: i. Buyer shall review the Survey in conjunction with the Title Commitment and shall notify Seller in writing within thirty {30) days of receipt of the Survey of any objection(s) thereto {the "Survey Objections"). ii Seller shall have the right but not the obligation to cure the Survey Objections within ten (10) days after Seller's receipt of Buyer's notice. If the Survey Objections are not cured, Buyer shall have the option to (i) accept the Property subject to the Survey Objections, or (ii) terminate this Agreementby giving written notice to Seller of such,termination, in which event all funds and documents previously paid, deposited or advanced by Buyer shall be immediatelyreturned to Buyer, bath Parties shall thereafter be released from all further obligations under this Agreement and neither Party shall have any further liability to the other Party hereto. iii. The failure of Buyer to notify Seller of objection(s) to the Survey within the time period set forth in subsection (d}i, above, shall constitute an acceptance thereof by Buyer. (e) During the Inspection Period, Seller may review the condition of the Residential Property, including but not limited to the review of a title commitment and survey, all obtained and reviewed by Seller, at Seller's sole cost and expense. 4. Inspection of the Property and the Residential Property. {a) During the Inspection Period, Buyer and its authorized representatives shall have the right to enter upon the Property following the execution of this Agreement to make test borings, drainage tests, surveys, engineering and architectural studies, inspections of well and septic systems and for other purposes commensurate with ascertaining the suitability of the Property for Buyer's purposes, including for the purpose of conducting aPhase Iand/or Phase II environmental audit of the Property (the "Environmental Audit"). Buyer agrees to pay the total cost of the Environmental Audit. Seller shall cooperate with Buyer and its authorized representatives in providing information and access to the Property necessary to complete the Environmental Audit. Buyer agrees to be responsible for any and all damages to the Froperty or 3 474370 v_OS 1122504.0011