Common use of Consent Agreement Clause in Contracts

Consent Agreement. Pre-1978 – Not Certified . The provisions of this Section 15.2 apply to those properties identified on the Seller Information Schedule as “Pre 1978, Not Certified.” Using reasonable and customary efforts, the applicable Seller shall (a) perform any testing (the “Testing”) required at its Property with respect to lead-based paint in accordance with the requirements of the Consent Agreement (the “Consent Agreement”) by and among the United States Environmental Protection Agency (executed December 19, 2001), the United States Department of Housing and Urban Development (executed January 2, 2002), and AIMCO (executed December 18, 2001), and (b) if required under the Consent Agreement, as determined by such Seller and its counsel in their sole and absolute discretion, remediate or xxxxx (the “Remediation”) any lead-based paint condition at such Property prior to the Closing using reasonable and customary efforts. In the event that such Seller does not complete such Testing or Remediation, if any is required under the Consent Agreement, prior to the Closing, such Seller shall initiate, continue or complete such Testing or Remediation, if any is required under the Consent Agreement, promptly after Closing. Purchaser shall provide such Seller with full and unimpeded access to its Property, including, without limitation, access to all units located thereon, for the purposes of completing such Testing or Remediation, if any is required under the Consent Agreement, and Purchaser shall fully cooperate with such Seller regarding, and allow such Seller to perform, such Testing or Remediation, if any is required under the Consent Agreement, as determined by such Seller and its counsel in their sole and absolute discretion, including, without limitation, allowing any alterations to such Property, to comply with the Consent Agreement, until such time as such Testing or Remediation, if any is required under the Consent Agreement, has been completed. Seller shall provide 24 hours’ notice to Purchaser in the event that access to a unit is required to perform such Testing or Remediation, if any is required under the Consent Agreement; provided, however, such Seller’s obligations hereunder after Closing shall be contingent on Purchaser’s compliance herewith, and such Seller shall be relieved of all liability and obligations regarding such Testing or Remediation or otherwise under the Consent Agreement, if any is required under the Consent Agreement, as a result of any failure by Purchaser to comply with this Section 15.2. Purchaser acknowledges and agrees that (1) after Closing, the Purchaser and the applicable Property shall be subject to the Consent Agreement and the provisions contained herein related thereto; (2) after Closing, Purchaser agrees to undertake the obligations required by the Consent Agreement; (3) such Seller will need necessary access to the applicable Property to comply with the requirements of the Consent Agreement; (4) Purchaser will provide such access to such Property after Closing so that such Seller can comply with the requirements of the Consent Agreement; and (5) Purchaser shall not be deemed to be a third party beneficiary to the Consent Agreement. By execution hereof, Purchaser further acknowledges receipt of notice in writing of the existence of the Consent Agreement and receipt of a copy thereof.

Consent Agreement. Pre-1978 – Not Certified . The provisions of this Section 15.2 apply to those properties identified on the Seller Information Schedule as “Pre 1978, Not Certified.” Using reasonable and customary efforts, the applicable Seller shall (ai) perform any testing (the “"Testing”") required at its the Property with respect to lead-based paint in accordance with the requirements of the Consent Agreement (the “"Consent Agreement”") by and among the United States Environmental Protection Agency (executed December 19, 2001)Agency, the United States Department of Housing and Urban Development (executed January 2, 2002)Development, and AIMCO Apartment Investment and Management Company (executed December 18, 2001"AIMCO"), and (bii) if required under the Consent Agreement, as determined by such Seller and its counsel in their sole and absolute discretion, remediate or xxxxx (the “"Remediation”") any lead-based paint condition at such the Property prior to the Closing using reasonable and customary efforts. In the event that such Seller does not complete such Testing or Remediation, if any is required under the Consent Agreement, prior to the Closing, such Seller shall initiate, continue or complete such Testing or Remediation, if any is required under the Consent Agreement, promptly after Closing. Purchaser Buyer shall provide such Seller with full and unimpeded access to its the Property, including, without limitation, access to all units located thereon, for the purposes of completing such Testing or Remediation, if any is required under the Consent Agreement, and Purchaser Buyer shall fully cooperate with such Seller regarding, regarding and allow such Seller to perform, perform such Testing or Remediation, if any is required under the Consent Agreement, as determined by such Seller and its counsel in their sole and absolute discretion, including, without limitation, allowing any alterations to such the Property, to comply with the Consent Agreement, until such time as such Testing or Remediation, if any is required under the Consent Agreement, has been completed. Seller shall provide 24 hours’ ' notice to Purchaser Buyer in the event that access to a unit is required to perform such Testing or Remediation, if any is required under the Consent Agreement; provided, however, such Seller’s 's obligations hereunder after Closing shall be contingent on Purchaser’s Buyer's compliance herewith, and such Seller shall be relieved of all liability and obligations regarding such Testing or Remediation or otherwise under the Consent Agreement, if any is required under the Consent Agreement, as a result of any failure by Purchaser Buyer to comply with this Section 15.219(a). Purchaser Buyer acknowledges and agrees that (1) after Closing, the Purchaser Buyer and the applicable Property shall be subject to the Consent Agreement and the provisions contained herein related thereto; (2) after Closing, Purchaser Buyer agrees to undertake the obligations required by the Consent Agreement; (3) such that Seller will need necessary access to the applicable Property to comply with the requirements of the Consent Agreement; (4) Purchaser that Buyer will provide such access to such the Property after Closing so that such Seller can comply with the requirements of the Consent Agreement; and (5) Purchaser that Buyer shall not be deemed to be a third party beneficiary to the Consent Agreement. By execution hereof, Purchaser Buyer further acknowledges receipt of notice in writing of the existence of the Consent Agreement and receipt of a copy thereof. The provisions of this Section 19(a) shall survive the termination of this Agreement, and if not so terminated, the Closing and delivery of the Deed to Buyer.