Real Estate Purchase And Sale Agreement (Non-Residential) (Page 5 of 9) in pdf

Purchaser Waiver Required. If Seller has reserved the right to terminate this Agreement in

the event Purchaser does not waive the financing contingency, then at any time after

expiration of the required date for Purchaser’s waiver and until Seller receives Purchaser’s

Notice of Waiver, Seller may give Notice terminating this Agreement. Thereafter, Purchaser

may not reinstate this Agreement by attempting to give later Notice of Waiver.

5. Investigation. Purchaser agrees that no information provided from or on behalf of Seller

related to marketing the Property, in any advertising or in any other communication,

constitutes a representation of fact, and Purchaser is to independently verify all such

information. Accuracy of the information from Seller to be verified by Purchaser in this

paragraph shall be a material condition for purposes of this Section 5. Purchaser’s

investigation of these matters shall be at Purchaser’s sole expense. Purchaser may only use

this investigation to object to errors in the information to be verified by Purchaser under this

Section 5. Purchaser’s investigation of the Property shall be deemed satisfied unless

Purchaser gives written Notice identifying such undisclosed material conditions and electing

to terminate this Agreement within the Investigation period provided in Section V.

Inspection Period.

6. Inspection. Purchaser acknowledges having been advised that Purchaser shall perform the

Purchaser’s due diligence regarding the property, at the Purchaser’s own expense, including

but not limited to physical survey of the property, environmental review and/or survey of the

property, etc.

Purchaser’s agreement is conditioned upon Purchaser’s due diligence and

approval thereof. This contingency shall be conclusively deemed satisfied unless within the

inspection period provided in Section V. Inspection Period, the Seller receives a full and

complete copy of the report and/or other information generated by the Purchaser’s due

diligence and a Notice of Termination of this Agreement from Purchaser identifying the

conditions discovered during the Purchaser’s due diligence to which Purchaser objects.

If Purchaser elects to terminate this Agreement pursuant to this section, any earnest money

shall be immediately released to Purchaser.

7. Disclosure Statement. Buyer waives the right to receive a seller disclosure statement

(“Form 17-Commercial”) if required by RCW 64.06. However, if Seller would otherwise be

required to provide Buyer with a Form 17-Commercial and if the answer to any of the

questions in the section of the Form 17-Commercial entitled “Environmental” would be

“yes,” then Buyer does not waive the receipt of the “Environmental” section of the Form 17-

Commercial which shall be provided by Seller.

8. Title and Title Insurance.

a. Title. Unless otherwise specified in this Agreement, title to the Property shall be

marketable at Closing. Rights, reservations, covenants, conditions and restrictions,

Real Estate Purchase and Sale Agreement

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Real Estate Purchase And Sale Agreement (Non-Residential) Page 5