Laserfiche WebLink
objections and to accept title to the Premises and proceed to purchase the Premises pursuant to <br />the terms of this Contract. If the Purchaser gives Seller notice of a title objection within said <br />thirty (30) day period which renders title unmarketable, in accordance with the provisions of this <br />Contract, then Seller shall have a period of thirty (30) days, or such additional reasonable period <br />of time as is necessary to correct such defect and the date of Closing shall be extended for such <br />reasonable period of time as is necessary for Seller to correct said defect. In the event Seller fails <br />or refuses to correct such defect, within said period, the Purchaser may, at its option, terminate <br />this Contract and Seller shall promptly return the Deposit. <br />11. Inspection. Seller agrees to permit Purchaser to enter the Premises at reasonable times to <br />survey or inspect the Premises, or to make environmental audits and such other studies as the <br />Purchaser may deem necessary or advisable to determine the acceptability of the Premises for <br />use by the Purchaser. The right to enter the Premises shall be at the sole risk and expense of the <br />Purchase, and the Purchaser agrees to indemnify, defend, and hold Seller harmless from any and <br />all personal injury, including death, loss, liability, claims, and expense whatsoever (including <br />reasonable attorneys' fees) arising out of the acts of Purchaser, or its agents, servants, employees <br />or designees on the Premises, except where caused by the gross negligence of the Seller, its <br />agents, servants and employees. If the Purchaser, in its sole discretion, determines within thirty <br />(30) days of the date of this Contract that the Premises is unacceptable for its use due to an <br />unsatisfactory site condition, the Purchaser may terminate this Contract by giving Seller written <br />notice thereof within five (5) days after the conclusion of such thirty (30) day period and Seller <br />shall promptly refund the sum of $28,000 to Purchaser. In the event the Purchaser fails to so <br />notify the Seller, or if it closes the acquisition of the Premises, Purchaser shall be deemed to have <br />waived any objection hereunder. <br />12. Purchaser's Environmental Due Diligence. Purchaser may, at its option, conduct an <br />environmental assessment of the Premises. The cost of such environmental assessment shall be <br />borne solely by Purchaser. Purchaser shall complete the environmental assessment within thirty <br />(30) days of the date of this Contract. Purchaser and Purchaser's agents and contractors shall be <br />entitled to access to the Premises at reasonable times to undertake an assessment of the Premises. <br />Purchaser shall promptly provide Seller with a copy of any such environmental assessment, and <br />any other written documents associated therewith. Purchaser agrees to indemnify and hold Seller <br />harmless from any and all loss, liability, claims and expense (including reasonable attorneys, <br />fees) arising out of the acts of Purchaser or its agents and contractors on the Premises. Purchaser <br />further agrees to reimburse Seller for any physical damage caused by Purchaser or its agents or <br />contractors while on the Premises. If Purchaser, in its sole discretion, determines within said <br />thirty (30) day period that the environmental assessment of the Premises is unacceptable, then <br />Purchaser may terminate this Contract by giving Seller written notice thereof within five (5) days <br />after the conclusion of such thirty (30) day period and Seller shall return the earnest money to <br />Purchaser. Purchaser hereby agrees that Purchaser shall keep confidential the results of the <br />above reference environmental assessment. Purchaser agrees that the results of any <br />Doc #192515.v2 Dale: 7/11/03 2:23 PM <br />TR -69 A14-5-54 12/16 <br />