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SA 2017-001
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SA 2017-001
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EXHIBIT A TO EXHIBIT 4 <br />(i) If the Independent Consideration Amount is not paid by Buyer to Seller <br />by the time set forth therefor in Section 3(b) of this Agreement, then Seller may terminate this <br />Agreement by giving notice thereof toBuyer. <br />(ii) If any of Buyer's Contingencies are not to be met by the Closing <br />Contingency Date, Buyer may, by written notice to Seller, terminate this Agreement. <br />If this Agreement is terminated, then (except to the extent expressly allocated to one <br />party hereto by this Agreement) any escrow, title or other cancellation fees shall be paid by Buyer, <br />unless Seller is in default hereunder, in which case Seller shall pay all such fees. If the Agreement has <br />not been terminated pursuant to (i) or (ii) of this Section 6(b) and Buyer has neither terminated this <br />Agreement in writing ("Termination Notice") on or before 5:00 p.m. on the Monday preceding the <br />scheduled Closing ("Termination Notice Deadline"), and/or Buyer has approved in writing all of <br />Buyer's Contingencies, then all such Buyer's Contingencies shall be deemed to have been satisfied and <br />this Agreement shall continue pursuant to its terms. If Buyer has approved in writing the items set forth <br />in Sections 6(a)(i)-(xi) inclusive, prior to the Termination Notice Deadline, such Buyer's Contingencies <br />shall be deemed to have been satisfied. <br />(c) Seller's Cure Right. Buyer shall notify Seller, in Buyer's Termination Notice, <br />of Buyer's disapproval or conditional approval of any Title Documents. Seller shall then have the right, <br />but not the obligation, to (i) remove from title any disapproved or conditionally approved Exception(s) <br />(or cure such other title matters that are the basis of Buyer's disapproval or conditional approval of the <br />Title ,Documents) within five (5) business days after Seller's receipt of Buyer's Termination Notice, or <br />(ii) provide assurances reasonably satisfactory to Buyer that such Exception(s) will be removed (or other <br />matters cured) on or before the Closing. With respect to any such Exception, it shall be sufficient for <br />purposes hereof for Seller to commit in writing, within the applicable period, to remove such Exception <br />at or before the Closing. Seller's failure to remove such Exception after committing to do so shall be a <br />default hereunder. An Exception shall be deemed removed or cured if Seller furnishes Buyer with <br />evidence that the Title Company will issue the Buyer's Title Policy, as defined herein, at the Closing <br />deleting such Exception or providing an endorsement (at Seller's expense) reasonably satisfactory to <br />Buyer concerning such Exception. If Seller cannot or does not remove or agree to remove any of the <br />disapproved Exception(s) (or cure other matters) within such five (5) business day period, Buyer shall <br />have three (3) business days after the expiration of such five -(5) business day period to give Seller <br />written notice that Buyer elects to proceed with the purchase of the Real Property subject to the <br />disapproved Title Document(s), it being understood that Buyer shall have no further recourse against <br />Seller for such disapproved Title Exception(s). For the avoidance of doubt, if Buyer fails to give such <br />notice within such three (3) business day period, Buyer will be deemed to have elected to terminate <br />this Agreement. <br />7. ,Seller's Conditions Precedent and Termination Right. The Closing and Seller's <br />obligations with respect to the transaction contemplated by this Agreement are subject to the timely <br />satisfaction or written waiver of the following condition precedent ("Seller's Contingencies"), which <br />are for Seller's benefit only: <br />(a) Completion of Title Review. Seller shall have received written confirmation <br />from Buyer on or before the Soil and Title Contingency Date that Buyer has completed its review of <br />title and that the condition of title is satisfactory and Buyer has approved a pro forma title policy. <br />
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