3.2 due diligence period. Buyer shall, subject to the limitations and conditions set forth in Section.1 above, have until Twenty-One (21) calendar days following the Effective date (the due diligence period) to physically inspect the Property, review the economic data, underwrite the tenants and review the leases, conduct appraisals, perform. Unless buyer terminates or is deemed to have terminated this Agreement on or prior to the expiration of the due diligence period, as provided in Section.5, below, then buyer shall, within One (1) Business day following the end of the due diligence period, deliver to Escrow. 3.3 Items to be Provided by seller. Prior to the Effective date, seller shall have delivered to buyer accurate and complete copies of all of the information set forth on Exhibit c attached hereto and incorporated herein (Property Information). In addition to the foregoing deliveries, seller shall make available to buyer, at Sellers address set forth in Section.7 below, for inspection and copying the originals of any of the Property Information and any and all other documents, instruments, studies, reports, maps, files. Buyer shall not be required to assume any service or other contracts of Seller at Closing, and any and all Property contracts of Seller (if any) shall, unless otherwise requested by buyer, be terminated by seller, at Sellers expense, as of the Closing Date. 3.5 buyers Possible early termination. Buyer shall have the right to approve or disapprove, in buyers sole and absolute discretion, the Property, the Property Information, the Preliminary report, any supplemental Report, the survey, the ucc searches or any other matter whatsoever dissertation regarding the Property.
Buyer shall promptly pay when due any third party costs associated with the foregoing. Buyer further agrees to keep the Property free from all mechanics lien claims associated with the foregoing. Buyer shall, at buyers sole cost, repair any damage to the Property resulting from the inspections, and, to the extent buyer or buyers contractors alter, modify, disturb or change the condition of the Property as part of the 4 inspections or otherwise, dissertation buyer shall,. Buyer hereby agrees to indemnify and hold Seller (and Sellers agents, advisors, partners, members, managers, owners, officers and directors, as the case may be) harmless from any physical damages arising out of all inspections and investigations by buyer or its agents or independent contractors. Notwithstanding any other provision in this Agreement to the contrary, this indemnification shall survive the termination of or Closing under this Agreement. Prior to entry upon the real Property and before conducting any activity on the real Property, buyer or buyers contractor shall provide seller with an insurance certificate evidencing that buyer and/or buyers contractor is maintaining the following insurance:. Commercial general liability insurance including, but not limited to, coverage for products/completed operations, premises/operations, contractual and personal/advertising injury liabilities with combined single limits of not less than 2,000,000.00 per occurrence for bodily injury and property damage, containing an endorsement insuring against damage to the Property. Any contractor hired to perform environmental tests to the Property shall maintain errors and omissions or professional liability insurance covering injury or damage arising out of the rendering or failing to render professional services with limits of at least 2,000,000.00 per claim. All insurance maintained under this Section.1 shall be procured from insurance companies reasonably satisfactory to seller and rated a-vii or better by the current edition of Bests Insurance reports published by the.
Title to the Property shall be conveyed to buyer subject only to the following matters: (a) current, non-delinquent real estate taxes and assessments, (B) the matters set forth in the Preliminary report and any supplemental Report and permitted as part of the required Title condition, (c) the lease. Article 3 inspection and due diligence period.1 Access. From and after the Effective date through the Closing, buyer, personally or through its authorized agent or representatives (including without limitation any prospective lender to buyer, or such prospective lenders agents or representatives shall be entitled, upon no less than two (2) Business days advance written. Buyer shall have the right to conduct a phase i environmental site assessment and, with Sellers prior written consent (to be given or withheld in Sellers sole and absolute discretion) a phase ii environmental site assessment (including soils borings, soil sampling and, if relevant, ground. Buyers activities at the Property shall be conducted in such a manner so as not to unreasonably interfere with the occupancy of Tenants or their employees, licensees or invitees. Buyer shall have the right to conduct Tenant interviews with Sellers prior consent, not to be unreasonably withheld, but with buyer to be accompanied by a seller representative if required by seller. Notwithstanding anything to the contrary contained in this Agreement, seller shall provide, at Sellers sole expense, a natural hazard zone disclosure prepared by a provider reasonably acceptable to buyer.
Assigning an, agreement of Purchase and Sale rem
Article 2 title and survey.1 Title and Survey. No later than three (3) Business days after the Effective date, buyer shall, at buyers cost and expense, obtain a preliminary title report or commitment (the Preliminary report) from Lawyers Title company (the title company together with legible copies of all recorded encumbrances and exceptions. Buyer shall, at its option and at its expense, (i) conduct ucc searches covering Seller and the Property (the ucc searches) and (ii) order an as built survey of the real Property by a licensed surveyor or registered professional engineer (the survey). 2.2 review of the Preliminary report, survey and ucc searches; Objection; Approval or Termination. On or before the last day of the due diligence period, with respect to the Preliminary report or Survey or ucc searches or within three (3) Business days after delivery of any supplement to the Preliminary title report (Supplemental Report buyer shall deliver to seller. Buyer may make its determination of the required Title condition in its sole discretion.
Buyers failure to give the title Objection Notice shall be deemed to constitute buyers approval of all matters disclosed in the Preliminary report, supplemental Report, survey and ucc searches. If buyer delivers the title Objection Notice, seller shall have five (5) Business days from the receipt of buyers notice to provide buyer with written notice of Sellers election to remove or 3 otherwise cure to buyers satisfaction any objections prior to or at the Closing. If Seller delivers or is deemed to have delivered notice of election not to cure a disapproved item, then buyer may either (i) elect to terminate this Agreement, or (ii) waive in writing its prior disapproval of such item and accept title subject to such previously disapproved. If Seller fails to timely deliver the seller Response notice within such five (5) Business day period, then Seller shall be deemed to have elected not to cure the disapproved matters set forth in buyers Title Objection Notice. If buyer fails to deliver its notice of election to terminate this Agreement or waive its prior disapproval as provide in clauses (i) and (ii) above within such five (5) Business day period, buyer shall be deemed to have waived its disapproval. If this Agreement is terminated thesis pursuant to this Section.2, the provisions of Section.6 shall apply. 2.3 Required Title condition.
1.4 Deposit And Escrow. 1.4.1 Within one (1) Business day after the Effective date, buyer shall deliver to Escrow Agent at the following address: 2398 East Camelback road, suite 650, Phoenix, az 85016, Attention:. . Irma hickman, a good faith deposit in the amount of One hundred Twenty-five thousand Dollars (125,000.00) (said amount, inclusive of interest earned thereon, is referred to herein as the deposit). The deposit shall be held in an insured, interest-bearing account with interest accruing for the benefit of buyer. Buyers Federal Tax Identification Number may be listed after its signature.
The Escrow Agent shall not be responsible for any loss, diminution in value or failure to achieve a greater profit as a result of such investments. Escrow Agent assumes no responsibility for, nor shall said Escrow Agent be held liable for, any loss occurring which arises from (i) failure of the depository institution, (ii) the fact that some banking instruments, including without limitation repurchase agreements and letters of credit are not covered. The Escrow Agent is not a trustee for any party for any purpose, and is merely acting as a depository and in a ministerial capacity hereunder with the limited duties herein prescribed. The Escrow Agent may conclusively rely upon and act in accordance with any certificate, instructions, notice, letter, e-mail, facsimile, other written instrument believed to be genuine and to have been signed or communicated by the proper party or parties. The seller and buyer shall indemnify, save, defend, keep and hold harmless the Escrow Agent from any and all loss, damage, cost, charge, liability, cost of litigation, or other expense, including without limitation attorneys fees and court costs, arising out of its obligations and duties. 1.4.2 The deposit shall be applied to the purchase Price if the Closing (as defined in Section.5.1 below) occurs. After the expiration of the due diligence period, the deposit shall be nonrefundable to buyer unless a closing fails to occur due to sellers breach or default under this Agreement, a failure of a representation or warranty by seller to be true and correct. In the event buyer shall elect to terminate this Agreement during the due diligence period, the deposit shall be returned to buyer as provided in Section.6 below. 1.5.1 The closing (Closing) shall take place through an escrow opened with Escrow Agent on the day which is Thirty (30) days after the expiration of the due diligence period (the Closing Date).
Standard, agreement for the sale
Exhibit B hereto (collectively, as same may be amended, the short leases, and each a lease, and each tenant under a lease,. Tenant and including Sellers rights to any tenant deposit held by seller (collectively, the tenant Deposits) pursuant to the leases; and.1.4 All of Sellers right, title and interest, if any, in all intangible assets of any nature relating to the land or the. 1.1.5 The land and Improvements are hereinafter sometimes referred to collectively as the real Property, and the real Property, leases, tenant Deposits and Intangible Property are hereinafter sometimes referred to collectively as the Property. 1.2, purchase and Sale. Buyer agrees to purchase from Seller, and Seller agrees to sell to buyer, all of Sellers right, title and interest in and to the Property, on the terms and conditions set help forth in this Agreement. The purchase price for the Property (the purchase Price) shall be Thirteen Million five hundred Thousand Dollars (13,500,000.00). The purchase Price shall be paid to seller by buyer on the Closing Date (as defined in Section.5.1 below plus or minus all adjustments or credits as set forth herein, by wire transfer of immediately available federal funds.
purchase Agreement, exhibit.1, real estate purchase agreement. And escrow instructions, hesperia main street, llc, a california limited liability company, as Seller and, tnp acquisitions, llc, a delaware limited liability company, as buyer, real estate purchase agreement and escrow instructions. This real estate purchase agreement and escrow instructions (this Agreement) is entered into as of this 29th day of April, 2011 (the Effective date by and between hesperia. Main street, llc, a california limited liability company (Seller tnp acquisitions, llc, a delaware limited liability company (buyer and Lawyers Title company (Escrow Agent). Recitals, whereas, seller owns real property and improvements commonly known as the topaz marketplace, located at 14101, 14135, and 14177 main Street, hesperia, california 92345, and improved with an approximate 53,259 square foot retail shopping complex, altogether as more particularly described. Exhibit A (the Property and, whereas, seller desires to sell to buyer, and buyer desires to purchase from Seller, the Property on the terms and conditions contained in this Agreement; agreement, now, therefore, in consideration of the promises and mutual agreements contained herein, and other. Property to be sold. Subject to the terms and provisions hereof, seller agrees to sell to buyer, and buyer agrees to purchase from Seller, upon the terms and conditions of this Agreement:.1.1 All of the land described and/or shown. Exhibit A attached hereto, together with all privileges, rights, easements and appurtenances belonging to such land, including without limitation, all right, title and interest (if any) of Seller in and to any streets, alleys, passages, and other rights-of-way or appurtenances included in, adjacent to or used.
Double-click in the dialog box on the cra that you want to assign. Result, you have assigned the rental agreement to a cra. Hold Harmless Agreement real Estate best Of lovely collateral Assignment Form Florida template for Resume Objective narratorapp. Skip to content hold harmless agreement real estate best of lovely collateral assignment form florida template for resume objective. Template monster help dissertation for resume objective definition repossession hold harmless agreement whole real estate, template definition in cpp 5 real estate hold harmless agreement purchase maker app, template definition powerpoint hold harmless agreement form sample 8 free documents in word facebook for google slides synonym. Related Post, contract Agreement Letter Format, blank Income Statement Form. Free doctors Note template download, daily to do list Calendar Template.
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Changing a rental Agreement: Assigning a collectiv (is-re - real Estate management). Changing a rental Agreement: Assigning a collective rental Agreement. Prerequisites, rental agreements to be assigned to a collective rental agreement must have the same main contractual partner (role 600 - tenant with customer account). Procedure, choose, rental agreement, change, rA master data. You branch to the initial world screen. Enter the rental agreement to which you want to assign an existing cra. To assign an existing cra choose. Edit, assign, assign collective agreement.