Laserfiche WebLink
INSPECTION INDEMNITY INSURABILITY DUE DILIGENCE AND SOURCE OF WATER. <br />Seller conveys Property to Buyer in an "as is" condition, "where is" and "with all faults." Colorado law <br />requires that Seller disclose to Buyer any latent defects actually known by Seller_ Disclosure of latent <br />defects must be in writing. Buyer, acting in good faith, has the right to have inspections (by one or more <br />third parties, personally or both) of the Property and Inclusions (Inspection), at Buyer's expense. <br />If an Inspection Objection is received by Seller, on or before Closing and if Buyer and Seller have not <br />agreed in writing to a settlement thereof on or before Closing this Contract will terminate unless Seller <br />receives Buyer's written withdrawal of the inspection Objection before Closing. <br />Buyer, except as otherwise provided in this Contract or other written agreement between the parties, is <br />responsible for payment for all inspections, tests, surveys, engineering reports, or other reports <br />performed at Buyer's request (Work) and must pay for any damage that occurs to the Property and <br />Inclusions as a result of such Work. Buyer must not permit claims or liens of any kind against the <br />Property for Work performed on the Property. Buyer agrees to indemnify, protect and hold Seller <br />harmless from and against any liability, damage, cost or expense incurred by Seller and caused by any <br />such Work, claim, or lien. This indemnity includes Seller's right to recover all costs and expenses <br />incurred by Seller to defend against any such liability, damage, cost or expense, or to enforce this <br />section, including Seller's reasonable attorney fees, legal fees and expenses. The provisions of this <br />section survive the termination of this Contract. <br />Seller agrees to deliver copses of the following <br />Any and all existing documentation and reports regarding Phase I and U environmental reports, letters, <br />test results, advisories, and similar documents respective to the existence or nonexistence of asbestos, <br />PCB transformers, or other toxic hazardous or contaminated substances, and/or underground storage <br />tanks and/or radon gas_ If no reports are in Seller's possession or known to Seller, Seiler warrants that <br />no such reports are in Seiler's possession or known to Seller; <br />All permits, licenses and other building or use authorizations issued by any governmental authority with <br />jurisdiction over the Property and written notice of any violation of any such permits, licenses or use <br />authorizations, if any. <br />Buyer has the Right to Terminate on or before Closing based on any unsatisfactory zoning and any use <br />restrictions imposed by any governmental agency with jurisdiction over the Property, in Buyer's sole <br />subjective discretion. Buyer has the right to obtain environmental inspections of the Property including <br />Phase 1 and Phase 11 Environmental Site Assessments, as applicable. Buyer has the Right to Terminate on <br />or before Closing based on any unsatisfactory results of Environmental inspection, in Buyer's sole <br />subjective discretion. <br />CLOSING DOCUMENTS INSTRUCTIONS AND CLOSING. <br />Seller and Buyer will cooperate with the Closing Company to enable the Closing CompanY to prepare <br />and deliver documents required for Closing to Buyer and Seller and their designees. Seller will furnish <br />5 J�i" <br />