Common use of Estimated Completion Date Clause in Contracts

Estimated Completion Date. Without guaranteeing a completion date, it is estimated that completion of the Unit shall be approximately in up to 2 years, (“Estimated Completion Date”). Purchaser acknowledges and agrees that the Estimated Completion Date is a projection only and that Seller will not be responsible or liable for any damages or losses resulting from any delays. ▇▇▇▇▇▇▇▇▇ agrees to close on the Unit immediately following the completion of the Unit whether earlier or later than the projected Estimated Completion Date set forth herein. The Unit shall be deemed complete if it has met the definition of Completion Date as set forth in Section 4 below. The Estimated Completion Date is subject to delays caused by acts of God, pandemics and/or viral outbreaks, or any delays which are recognized in Florida as beyond Seller’s control, thus creating an impossibility of performance. This Contract is exempt from the statutory registration and disclosure requirements of the Interstate Land Sales Full Disclosure Act because the Unit is a condominium unit. Purchaser acknowledges and agrees that the use of the exemption allows Seller to save time and money by, among other things, allowing greater flexibility in when to market and construct units, when and how to finance the project and when to contract for labor and materials than if it was required to comply with a regulatory application and review process. Purchaser acknowledges and agrees that the foregoing is a legitimate business purpose which saves Seller the time and money of a regulatory application and review. This Contract has _ has not been entered into after the Completion Date as described in Section 4 below. (Initial applicable provision). If this Contract is execute after the Completion Date, notwithstanding anything to the contrary herein, no Deposit funds shall be placed into escrow.