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PERMFILE119027
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PERMFILE119027
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Entry Properties
Last modified
8/24/2016 10:14:45 PM
Creation date
11/25/2007 6:21:56 AM
Metadata
Fields
Template:
DRMS Permit Index
Permit No
C1980003
IBM Index Class Name
Permit File
Doc Date
12/17/2002
Section_Exhibit Name
1996 Tab 3 Appendix 3-3 Agreement of Sale
Media Type
D
Archive
No
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all or any portion of the Property disclosed by the <br />• Commitment (as exceptions, requirements, or otherwise) <br />which are not the subject of a notice from Buyer to <br />Seller given within the applicable period of time, shall <br />be deemed accepted by Buyer as Permitted Exceptions. <br />(B) Seller's Richt to Cure. If Buyer notifies <br />Seller of any defect or exception shown by the Commitment <br />which is not accepted and has not been deemed accepted by <br />Buyer as a Permitted Exception, Seller may cure such <br />defect or exception in a manner reasonably acceptable to <br />Buyer; provided that Seller shall not be obligated hereby <br />to cure any such defect or exception or to incur any <br />expense in connection with any such cure. For purposes <br />hereof, a title defect or exception shall be deemed cured <br />if (i) the Title Company deletes the defect or exception <br />from the Commitment or (ii) the Title Company undertakes <br />in writing to issue an endorsement to the Owner's Policy <br />obligating the Title Company, within the limits of the <br />Owner's Policy, to protect Buyer against any loss or <br />damage incurred on account of such defect or exception; <br />provided, however, that such defect or exception is not <br />material and/or will not have a material adverse impact <br />upon Buyer's intended usage of the Property. <br />LJ <br />(C) Buver's Ricxht to Terminate. If each of the <br />defects and exceptions objected to by Buyer has not been <br />cured on or before the earlier of (i) the 30th day after <br />the date that Seller receives the written notice from <br />Buyer objecting to such matters or (ii) the date on which <br />Buyer receives written notice from Seller stating that <br />Seller will not attempt to cure any of the matters <br />previously objected to by Buyer (which period of time is <br />referred to herein as the "Cure Period"), Buyer may, by <br />written notice given to Seller within five (5) days after <br />the last day of the Cure Period (the "Notice Date"), <br />either (i) terminate this Agreement or (ii) waive its <br />objection to such defects and exceptions and accept the <br />same as Permitted Exceptions. If Buyer does not notify <br />Seller of its decision to terminate or waive on or before <br />the Notice Date, Buyer shall be deemed to have waived its <br />objection to such defects and exceptions and to have <br />accepted the same as Permitted Exceptions. If Buyer <br />terminates this Agreement pursuant to this Paragraph 5, <br />the Deposit shall be returned to Buyer and both parties <br />shall thereupon be relieved of all further obligations <br />hereunder, except for any obligations of Buyer arising <br />under any of Paragraphs e, 17, 18, 19, and 20, all of <br />which shall continue in full force and effect. <br />6. Additional Documents. Seller shall deliver to <br />Buyer, within 10 days after the execution of this Agreement, copies <br />of all of the Agricultural Leases and copies of the other documents <br />and materials relating to the Property listed on Exhibit D attached <br />-4- <br />
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