Completion/Closing Date definition
Completion/Closing Date. Seller shall provide written notice to Buyer approximately twenty (20) days prior to the anticipated date on which a Certificate of Occupancy (which may be conditional or temporary) is expected to be available. Upon such notice, Buyer shall promptly initiate any further actions necessary to prepare for Closing. Closing shall take place within five (5) days of the issuance of the Certificate of Occupancy (which may be conditional or temporary) at a time and place designated by Seller. Buyer acknowledges such Closing may be required prior to the final completion of all punch list items on the Residence. Prior to Closing, at a time designated by Seller, the parties shall inspect the Residence and prepare a punch list (the Punch List) of items remaining to be completed or repaired within 120 days following Closing subject to any special order items. The existence of the Punch List and items thereon shall not affect Buyer’s obligation to close and to pay the full Purchase Price at Closing. At Closing, Buyer shall pay the full balance of the Purchase Price, and the parties shall execute such documents and take such actions as are reasonably necessary to carry out the terms of this Contract. Closing shall be deemed acceptance of the Residence as constructed except as set forth on the Punch List. After Closing, Seller shall exercise reasonable diligence to complete the Punch List. In the event Seller, without any obligation to do so and in its sole discretion, extends the Closing Date to accommodate Buyer or Buyer’s lender, the Purchase Price shall be increased by one percent (1%) per month (pro rated on a daily basis) for each day of delay.
Examples of Completion/Closing Date in a sentence
Subject to the terms governing the return of the ▇▇▇▇▇▇▇ Money Deposit set forth in Sections 9 (Completion/Closing Date), Section 11.3 (Right to Cure), Section 11.5 (Common Interest Community), Section 14.1.2 (If Seller is in Default), and Section 18 (Termination by Seller), the ▇▇▇▇▇▇▇ Money Deposit is subject to one of the two paragraphs below: Dirt Lot.
Subject to the terms governing the return of the ▇▇▇▇▇▇▇ Money Deposit set forth in Sections 9 (Completion/Closing Date), Section 11.3 (Right to Cure), Section 11.5 (Common Interest Community), Section 14.1.2 (If Seller is in Default), and Section 18 (Termination by Seller), the ▇▇▇▇▇▇▇ Money Deposit is subject to one of the two paragraphs below: Spec Home.