Purchaser’s Termination Period Sample Clauses

Purchaser’s Termination Period. If the purchase of the home is not completed by the Outside Closing Date, then the Purchaser can terminate the transaction during a period of 30 days thereafter (the “Purchaser’s Termination Period”), which period, unless extended by mutual agreement, will end on: the day of , 20 . If the Purchaser terminates the transaction during the Purchaser’s Termination Period, then the Purchaser is entitled to delayed closing compensation and to a full refund of all monies paid plus interest (see sections 7, 10 and 11 of the Addendum). Acknowledged this day of , 20 . VENDOR: PURCHASER: _ _ _ _ This addendum, including the accompanying Statement of Critical Dates (the “Addendum”), forms part of the agreement of purchase and sale (the “Purchase Agreement”) between the Vendor and the Purchaser relating to the Property. This Addendum is to be used for a transaction where the home purchase is in substance a purchase of freehold land and residential dwelling. This Addendum contains important provisions that are part of the delayed closing warranty provided by the Vendor in accordance with the Ontario New Home Warranties Plan Act (the “ONHWP Act”). If there are any differences between the provisions in the Addendum and the Purchase Agreement, then the Addendum provisions shall prevail. PRIOR TO SIGNING THE PURCHASE AGREEMENT OR ANY AMENDMENT TO IT, THE PURCHASER SHOULD SEEK ADVICE FROM A LAWYER WITH RESPECT TO THE PURCHASE AGREEMENT OR AMENDING AGREEMENT, THE ADDENDUM AND THE DELAYED CLOSING WARRANTY. ▇▇▇▇▇▇ recommends that Purchasers register on ▇▇▇▇▇▇’s MyHome on-line portal and visit Tarion’s website – Full Name(s) HCRA Licence Number Address Phone City Province Postal Code Fax Email* Full Name(s) WEB COPY Address City Province Postal Code Phone Fax Email* Municipal Address City Province Postal Code Short Legal Description Number of Homes in the Freehold Project (if applicable – see Schedule A) The Vendor confirms that: (a) The Property is within a plan of subdivision or a proposed plan of subdivision. If yes, the plan of subdivision is registered. If the plan of subdivision is not registered, approval of the draft plan of subdivision has been given. (b) The Vendor has received confirmation from the relevant government authorities that there is sufficient: (i) water capacity; and (ii) sewage capacity to service the Property. ⭘ Yes ⭘ No ⭘ Yes ⭘ No ⭘ Yes ⭘ No ⭘ Yes ⭘ No If yes, the nature of the confirmation is as follows: _ _ _ If the availability of water and sewage cap...