Common use of Rough-Grading Clause in Contracts

Rough-Grading. Buyer understands that, although rough grading of the Property to create level pads has been completed, such work was performed by Seller's predecessor-in-interest. Seller has not performed any grading or any construction of improvements on the Property. Seller has provided Buyer with a Certificate from Rick ▇▇▇ineering certifying that the Property has been graded in conformance with the approved Grading Plans, as described in Section 5.1(1), which work was completed prior to Seller's acquisition of the Property. Seller makes no representations or warranties as to the quality of the soils present on the Property. Except for Seller's Improvements described in Section 7.2, Seller has no obligation to perform any further work or to construct any improvements to the Property. If a grading defect is discovered on the Property after Closing, Seller shall, upon Buyer's request, assign to Buyer any cause of action which Seller may possess with respect to the Property against any contractors who may be liable for the defect.

Appears in 2 contracts

Sources: Purchase and Sale Agreement (Neurocrine Biosciences Inc), Purchase and Sale Agreement (Neurocrine Biosciences Inc)