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<br />Contingencies are for the sole benefit of Buyer and may only be waived or deemed satisfied in
<br />writing at Buyer's election and in Buyer's sole and absolute discretion.
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<br />6.1, Due Diligence Inspections.
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<br />6,1.1. Preliminary Title Report, Within fifteen (15) days of the Effective Date,
<br />Seller shall deliver to Buyer a preliminary title report for the Real Property ("Title Report")
<br />issued by First American Title Company, 2 First American Way, Santa Ana, California 92707,
<br />Attention: Alberto Alvarado, Phone: (714) 800-4909, Fax: (714) 800-4909, E-mail:
<br />aalvarado@firstam.com ("Title Company"), and copies of all underlying recorded instruments of
<br />record shown as exceptions and described on the Title Report ("Exception Documents").
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<br />6,1,2, ALTAlACSM Survey, As soon as reasonably practicable following the
<br />Effective Date, Buyer shall have the right to obtain, at its sole cost and expense, a certified
<br />survey of the Real Property ("Survey") prepared by a licensed land surveyor in accordance with
<br />the 1999 Minimum Standard Detail Requirements for AL TAlACSM Land Title Surveys, as
<br />adopted by the American Land Title Association, American Congress on Surveying and
<br />Mapping, and the National Society of Professional Surveyors.
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<br />6,1,3, Other Due Diligence Inspections, As soon as reasonably practicable
<br />following the Effective Date, Buyer shall have the right, at its sole cost and expense, to conduct
<br />any and all other investigations, inspections, and examinations relating to the condition of the
<br />Real Property and the suitability of the Real Property for Buyer's purposes, including but not
<br />limited to, assessment of environmental, soil, seismic, surface, and subsurface conditions for
<br />the presence of Hazardous Substances (as defined below); and performing architectural,
<br />engineering, development, and/or economic feasibility studies (collectively, "Other Due
<br />Diligence Inspections"). Buyer shall conduct such Other Due Diligence Inspections in such
<br />manner as to minimize any interference with the Seller's current uses and occupancies of the
<br />Real Property.
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<br />6.1.4. Access to Real Property and Records. To facilitate Buyer's due
<br />diligence inspections of the Real Property, Seller shall cooperate in good faith to provide Buyer
<br />and its agents, representatives, and consultants with reasonable access to the Real Property,
<br />and to any records pertaining to the Real Property in Seller's possession or control. Buyer shall
<br />endeavor to notify Seller at least twenty-four (24) hours prior to entry upon the Real Property by
<br />Buyer or its agents, representatives, or consultants, or request for access to Seller's records.
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<br />6,1.5. Disapproved Conditions, Following Buyer's receipt and review of the
<br />Title Report, all of the Exception Documents, and the Survey, and Buyer's satisfactory
<br />completion of all Other Due Diligence Inspections, Buyer shall have the right, but not the
<br />obligation, to deliver a written notice to Seller ("Buyer's Inspection Notice") identifying Buyer's
<br />disapproval of (i) any title conditions reflected in the Title Report and/or Exception Documents;
<br />(ii) any title conditions or other matters shown on the Survey; and (iii) any other conditions or
<br />matters arising from the Other Due Diligence Inspections (collectively, "Disapproved
<br />Conditions").
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<br />6,1.6. Seller's Cure Notice. By no later than 5:00 p.m. of the twentieth (20th)
<br />business day following Seller's receipt of Buyer's Inspection Notice, Seller shall deliver a written
<br />notice to Buyer ("Seller's Cure Notice"), identifying Seller's proposed cure, if any, of any of the
<br />Disapproved Conditions.
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<br />(Rev.07f21fOS)
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<br />557986.11
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