2009-048-ORD REZONE 1200 BLOCK OF 47TH ST SE

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Commeror Convect • Unimproved Propony C*nccm,np 4?TH :rSTREGY, PART NUA (2) InspadlonR, Sludles_ or AsseSSments' (a) Within to days after the effective dale, Buyer, at Buyer's expense, may complete or cause to be completed Inspections, studies, or assessments of the Property. Inspection, &Ludios, or aeFessmenis may include, but are not limited to' (I) physical property Inspections; (11) economic fcaslblllry studios; (iii) envlronmentai sssos.;monls; and (Iv) engineering studies (b) Buyer must: (i) employ only trained and qualified Inspectors and asaessom; (11) notify Seller, In advance. or when the Inspectors or assessors will bo on the Property: (ill) abide by any reasonable entry rules or requirements that Seller may roquirv; (Iv) not Interfere with existing operations or occupants of the Property; and (v) restore the Property to its original condition U Altered due to Inspections, studies, or assessments that Buyer complolos or causes to be completed (c) Except for those matters that arlae from the negligence of Seller or Sellers agents, Buyer is responsible for any claim, liability, encumbrance, cause of action, and expcnso resulting from Buyers Inspections, studies, or assessments. Including any property damage or personal Injury. Buyer will Indemnify, hold harmleae, and defend Seller and Sellers agente against any claim involving a matter for which Buyer is rospor sibic under this paragraph. This paragraph survives torminatlon of this contract. (3) FJ;aslbllhv Porlod pnd RlgU_U LJCDDj=j Buyer may terminate this contract for any reason within ro days after the effective dale by pm%nding Seller with written notice of termination. If Buyer does not terminate wfthm the time required, Buyer accepts the Property in its present "as Is' condition with any repair& Seller is obligated to complete under this contract. (Check only one box). QJ (a) If Buyer larmtnates under this Paragraph 78(3), the ea host money will be refunded be Buyer loss $ r xoo oo that Seller will retain ss Independent considerallon for Buyers right to torminato. Buyer has tendered tho independent consideration to Sailor upon payment of the full amount specified In Paragraph 5 to the escrow agent The Independent consideration Is to be crodded to the sates price only upon closing of the sale ❑ (b) Buyer has paid Seller S as independent conwdergtion for Buyer& right to terminate by tendering such amount directly to Seller or Seller's agent_ If Buyer terminates under this Paragraph 7B(3), the earnest money will be refunded to Buyer and Seller will retain the Independent considorelion. The independent consideration O will ❑ will not be credited to the sales prlce upon closing of the sale. (A) Peturn or Propgrly information: If this contract termnnoion for any reason, Buyer will, not later then 10 days after the termination date: (1) return to Seller all those Itoms described In Paragraph 70(1) that Seller delivered to Buyer and all copies that Buyer mado or thorn Items; and (II) deliver copies of all Inspoction and assessment reports (excluding economic foasibillly studies) related to the Property that Buyar complotod or caused to be completed. This Paragraph 79(4) survives termination of thl-. contract. (5) Contracts Affeglina Operations: After Buyers right to terminate under 70(3) expires, Seller may not enter Into, amoud. or terminate any other contract that affects the operations of the Property without Buyer's prior writlen approval. (T'AH.i Bad Hllipl.d to, Id-1111caltnn by Buys, _ Sailor repo 5 of 13 L�..r r++�Ir<7.1��r` •�A r-- r r.1 w�a..4, Ire r. N�.• ►� .., .... 1. 1.a+ ,rr, Y..1 r , �..., r..rllrr�,1 ✓..11.1 � , �.. �r ..rwK�../�rr...rranr,l.4r^rr,r ,�.r.r. wti�r..r•w....r1.Yr p.yly.r��.r.,rL �c 1A, ��Arr