Common use of Square Footage Clause in Contracts

Square Footage. Statements of approximate square footages of the Residence may be made in the Plans and Specifications. Purchaser acknowledges, however, that square footage calculations may be made in a variety of manners, and as long as the Residence is constructed substantially in accordance with the Plans and Specifications, Purchaser will have no right to rescind this Agreement, nor will Purchaser be entitled to any claim for breach of this Agreement or adjustment of the Purchase Price, on account of alleged discrepancies in square footage calculations. For example, the architectural method measures square footage from the outside edge of the exterior walls to the mid-point of the interior walls and is often used as the measurement in architectural plans. Another method, typically used in condominium maps and recorded condominium declarations, varies from the architectural method and measures square footage from the inside edge of the exterior walls to the inside edge of the interior walls. PURCHASER HEREBY ACKNOWLEDGES THAT PURCHASER HAS REVIEWED AND ACCEPTED THE PLANS AND SPECIFICATIONS AND HAS INDEPENDENTLY VERIFIED THE SQUARE FOOTAGES CONTAINED THEREIN.

Appears in 5 contracts

Samples: Agreement, Agreement, Agreement

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