HOME INSPECTION CONTINGENCY Sample Clauses

HOME INSPECTION CONTINGENCY. This Agreement is contingent upon a written determination, at Purchaser’s Expense, by a New York State Licensed Engineer, Architect or Home Inspector, that the premises are free from any substantial structural, mechanical, heating, electrical, plumbing, roof covering, water, septic or sewer defect. The term “substantial” shall be defined as any individual defect which will reasonably cost over $1000 to correct, excluding any item previously disclosed in writing by the Seller to the Purchaser. Purchaser shall complete said inspection no later than full calendar days from acceptance of this Agreement. This Contingency shall be deemed waived unless Purchaser shall give written notice of cancellation of this Agreement to Seller or Seller’s Agent no later than full calendar days from acceptance of this Agreement (the “Notice Cancellation Date”) stating the existence of a substantial structural, mechanical, heating, electrical, plumbing, roof covering, water, septic or sewer defect and supplies written confirmation thereof by a copy of the inspection report or letter from the inspector. If the Purchaser gives such notice of cancellation, then this Agreement shall be deemed cancelled, null and void and all deposit monies shall be returned to Purchaser. As an alternative to giving notice of cancellation by the Notice Cancellation Date, Purchaser may extend the Notice Cancellation Date for five (5) full calendar days by giving notice of extension thereof to Seller or Seller’s Agent no later than the Notice Cancellation Date.
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HOME INSPECTION CONTINGENCY. This Agreement is contingent upon a written determination, at Purchaser’s Expense, by a New York State Licensed Engineer or other qualified person, that the premises are free from any substantial structural, mechanical, heating, electrical, plumbing, roof covering, water, septic or sewer defect. The term “substantial” shall be defined as any individual defect, which will reasonably cost over $1,000.00 to correct, excluding any item previously disclosed in writing by the Seller to the Purchaser. Purchaser shall complete said inspection no later than 14 full calendar days from acceptance of this Agreement. This Contingency shall be deemed waived unless Purchaser shall notify Seller or Seller’s Agent in writing no later than 21 full calendar days from receipt of the Closing Date Notice (see section 16, infra), and further supplies written confirmation by a copy of the inspection report, or letter from the inspector. If the Purchaser so notifies, then this Agreement shall be deemed cancelled, null and void, and all deposit monies shall be returned to the Purchaser. Alternatively, Purchaser may defer said cancellation for a period of five (5) full calendar days in order to provide the parties an opportunity to otherwise agree in writing.
Sample 1
HOME INSPECTION CONTINGENCY. This Contract is contingent upon the Buyer obtaining, at Buyer’s expense, a written determination by a New York State registered architect, licensed engineer or a duly licensed home inspector, within days after acceptance, exclusive of that date, that the premises are free from any substantial structural, mechanical, electrical, plumbing, roof covering or sewer defects. Should the Buyer not obtain written determination within said period, this contingency is waived. Seller agrees to cooperate with buyer to provide all necessary access to the Premises for the timely completion of the Home Inspection. Any individual defect costing more than $500.00 to correct shall be considered substantial within the terms of this contingency. In the event of a claim of a substantial defect(s) by Buyer as a result of such inspection, upon request of the Seller, Buyer shall forward to Seller a written copy of the inspection report within two (2) business days of seller’s request. Thereafter, either party may terminate this Contract unless the parties agree, by separate written addendum within 5 business days of seller’s receipt of notice of substantial defects agree that:
Sample 1
HOME INSPECTION CONTINGENCY. Within days following full execution of this contract by all parties, Purchaser shall have the option to have the property inspected and/ or tested by and inspector or inspectors of Purchaser’s choice at Purchaser’s cost and expense. Without the express consent of Seller, no inspection or test shall be conducted which would result in physical damage to the property. If the results of any inspection are unacceptable to the Purchaser for any reason whatsoever, Purchaser shall notify Seller or Seller’s attorney in writing. (The results need not be disclosed.) In such case, the Purchaser may cancel this contract.
Sample 1

Related to HOME INSPECTION CONTINGENCY

  • INSPECTION CONTINGENCY The obligations of the Buyer as set forth in this Agreement are contingent upon Buyer’s inspection of the Property. The Buyer shall have the right to conduct an inspection of the Property within days of the Effective Date. The choice and appointment of the inspector shall be the sole discretion of the Buyer who shall also solely bear the costs of the same. The time and date of the inspection shall be at the option of the Buyer but must be at a reasonable time and notice. In the event that upon completion of the inspection, the Buyer is not satisfied with the state of the Property, the Buyer shall notify the Seller of the unsatisfactory conditions and request the Seller to remedy the same. The Seller shall have days after receiving such notice to remedy the same. In the event that the Seller refuses to allow access to the Property to accommodate the inspection or fails to remedy the unsatisfactory conditions stated in the notice, the Buyer may, in the Buyer’s sole discretion, accept the Property as it is and proceed with the purchase under this Agreement, or terminate this Agreement and recover the Xxxxxxx Money, costs incurred in relation to this Agreement and .

  • Construction Contingency The proposed GMP Change Order shall include, as a separately identified item, a Construction Contingency sum in an initial amount (subject to increase or decrease) against which Design-Builder can draw at its election for the purposes set forth in Section 4 Part 4. The initial Construction Contingency sum shall include the contingency amounts stated in all accepted Component Change Orders.

  • Mortgage Contingency (Delete if inapplicable) The obligations of Purchaser hereunder are conditioned upon issuance on or before , , (the “Commit- ment Date”) of a written commitment from any Institutional Lender pursuant to which such Institutional Lender agrees to make a first mortgage loan, other than a VA, FHA or other governmentally insured loan, to Purchaser, at Purchaser’s sole cost and expense, of $ or such lesser sum as Purchaser shall be willing to accept, at the prevailing fixed rate of interest not to exceed or initial adjustable rate of interest not to exceed for a term of at least years and on other customary commitment terms, whether or not conditional upon any factors other than an appraisal satisfactory to the Institutional Lender. Purchaser shall (a) make prompt application to an Institutional Lender for such mortgage loan, (b) furnish accurate and complete information regarding Purchaser and members of Purchaser’s family, as required, (c) pay all fees, points and charges required in connection with such application and loan, (d) pursue such application with diligence, (e) cooperate in good faith with such Institutional Lender to obtain such commitment and (1) promptly give Notice to Seller of the name and address of each Institutional Lender to which Purchaser has made such application. Purchaser shall comply with all requirements of such commitment (or of any other commitment accepted by Purchaser) and shall furnish Seller with a copy thereof promptly after receipt thereof. If such commitment is not issued on or before the Commitment Date, then, unless Purchaser has accepted a commitment that does not comply with the requirements set forth above, Purchaser may cancel this contract by giving Notice to Seller within 5 business days after the Commitment Date, in which case this contract shall be deemed cancelled and thereafter neither party shall have any further rights against, or obligations or liabilities to, the other by reason of this contract, except that the Downpayment shall be promptly refunded to Purchaser and except as set forth in paragraph 27. If Purchaser fails to give notice of cancellation or if Purchaser shall accept a commitment that does not comply with the terms set forth above, then Purchaser shall be deemed to have waived Purchaser’ s right to cancel this contract and to receive a refund of the Downpayment by reason of the contingency contained in this paragraph.

  • Environmental Inspection at End of Agreement Term A. At Authority’s discretion, at least one hundred and twenty (120) days before the expiration or early termination of the Term as provided herein, Company will conduct an environmental inspection and examination of the Company Premises. At its discretion, Authority may complete environmental reviews to determine if recognized environmental conditions exist that could warrant soil and groundwater sampling. If warranted by the findings of Company or Authority’s inspection or if requested by Authority, a compliance audit or site assessment will be performed within the aforementioned time period by a qualified professional acceptable to Authority who will report the findings to Authority. The cost for professional consulting or engineering services required for such audit will be at the expense of Company. If a site assessment is conducted, Company agrees to pay all associated laboratory and testing fees incurred to test and analyze samples collected during the site assessment process. The Authority may also choose to conduct the compliance audit or site assessment. If the results of the assessment indicate that the Company Premises have been impacted by the release of Hazardous Substances, Company will immediately take such action as is necessary and will provide a substantial guaranty in a form and content acceptable to Authority that Company will clean up the contamination at its own expense, at no expense to Authority, and in accordance with Applicable Laws to the extent that it is obligated to do so by virtue of the foregoing provisions of this Article.

  • FUNDING CONTINGENCY If Congress makes any change in law that will affect the amount of funds authorized to be paid under this Agreement, the affected provisions in this Agreement will be automatically revised to reflect such change in funding. Under no circumstance may a payment be made under this Agreement that is in excess of the amount authorized by law at the time such amount may be owed.

  • BUDGET CONTINGENCY If the Budget Act of the current year covered under this Grant Agreement does not appropriate sufficient funds for this program, this Grant Agreement shall be of no force and effect. This provision shall be construed as a condition precedent to the obligation of the State to make any payments under this Grant Agreement. In this event, the State shall have no liability to pay any funds whatsoever to the Grantee or to furnish any other considerations under this Grant Agreement and the Grantee shall not be obligated to perform any provisions of this Grant Agreement. Nothing in this Grant Agreement shall be construed to provide the Grantee with a right of priority for payment over any other Grantee. If funding for any fiscal year after the current year covered by this Grant Agreement is reduced or deleted by the Budget Act, by Executive Order, or by order of the Department of Finance, the State shall have the option to either cancel this Grant Agreement with no liability occurring to the State, or offer a Grant Agreement amendment to the Grantee to reflect the reduced amount.

  • MOVE-IN INSPECTION Before, at the time of the Tenant accepting possession, or shortly thereafter, the Landlord and Tenant: (check one) ☐ - Agree to inspect the Premises and write any present damages or needed repairs on a move-in checklist. ☐ - Shall not inspect the Premises or complete a move-in checklist.

  • FINANCING CONTINGENCY The Buyer’s obligations herein are contingent on the Buyer’s obtaining financing to pay the balance on the Purchase Price. The Buyer must present to the Seller a binding commitment for financing the purchase of the Property within days from the Effective date. The terms of the financing must be acceptable to and approved by the Buyer who shall not unreasonably withhold such approval. In the event that the Buyer fails to obtain financing within the time allotted, this Agreement shall automatically terminated and all funds paid by the Buyer shall be returned to the Buyer after deducting all reasonable costs incurred by the Seller in good faith in relation this Agreement.

  • Document Inspection In accordance with section 216.1366, F.S., the Department is authorized to inspect the: (a) financial records, papers, and documents of the Contractor that are directly related to the performance of the Contract or the expenditure of state funds; and (b) programmatic records, papers, and documents of the Contractor which the Department determines are necessary to monitor the performance of the Contract or to ensure that the terms of the Contract are being met. The Contractor shall provide such records, papers, and documents requested by the Department within 10 Business Days after the request is made.

  • Construction Management Landlord or its Affiliate or agent shall supervise the Work, make disbursements required to be made to the contractor, and act as a liaison between the contractor and Tenant and coordinate the relationship between the Work, the Building and the Building’s Systems. In consideration for Landlord’s construction supervision services, Tenant shall pay to Landlord a construction supervision fee equal to three percent (3%) of Tenant’s Costs specified in Section 7.

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