Laserfiche WebLink
closing; and (ii) the "Premises" shall thereafter be defined to mean the Premises less the <br />portion taken by eminent domain or condemnation. In no event shall the Purchase Price be <br />increased by the amount of any such proceeds. <br />18. CASUALTY. If, prior to the closing, the Premises or the Improvements are <br />materially damaged or destroyed, Buyer, at its sole discretion, shall have the right to <br />terminate this Agreement upon written notice to Seller without liability on its part by so <br />notifying Seller and the Earnest Money (with any accrued interest) shall be refunded to <br />Buyer. If the Premises or Improvements are not materially damaged or destroyed or Buyer <br />does not exercise its right of termination, Seller shall proceed forthwith to repair the damage <br />to the Premises and Improvements and any and all proceeds arising out of such damage or <br />destruction, if the same be insured, shall be held in trust by Seller for the benefit of such <br />repair. In no event shall the Purchase Price be increased by the amount of any such proceeds. <br />The words "materially damaged or destroyed" for the purposes of this Section 19 shall mean <br />the Premises incurs damage in excess of $50,000.00 and said damage cannot be repaired on <br />or prior to closing. <br />19. AS IS PURCHASE. Buyer acknowledges that the Premises being purchased by <br />Buyer, together with the other improvements, fixtures, appliances and other items of <br />Personal Property that will remain with the Premises are not new, and are being purchased <br />"AS IS." Buyer has the right and duty to inspect the Premises and Personal Property being <br />purchased with the Premises, or have them inspected by a person of Buyer's choice, at <br />Buyer' s expense. It is understood by the Buyer that the Buyer accepts the Premises and <br />Personal Property "AS IS" without any Representations or Warranties by the Seller except <br />as expressly stated in this Agreement. Except as expressly provided in this Agreement, the <br />Seller shall have no further responsibility or liability with respect to the condition of the <br />Premises or Personal Property being sold with the Premises. This provision shall survive <br />the delivery of the General Warranty Deed at Closing. <br />20. DISCLOSURE. This paragraph intentionally omitted. <br />21. INVENTORY. This paragraph intentionally omitted. <br />22. PATRIOT ACT. Buyer is not named, and is not acting, directly or indirectly, for <br />or on behalf of any person, group, entity, or nation named by the Uniting and <br />Strengthening America by Providing Appropriate Tools Required to Intercept and <br />Obstruct Terrorism Act of 2001, Pub L 107-56, 115 Stat 272 ("USA Patriot Act"), <br />Executive Order # 13224 or any other Executive Order or the United States Treasury <br />Department as a terrorist, "Specially Designated Nation and Blocked Person," or other <br />banned or blocked person, entity, nation, or transaction pursuant to any law, order, rule or <br />regulation that is enforced or administered by the Office of Foreign Assets Control. <br />Buyer is not engaged in this transaction, directly or indirectly on behalf of, or instigating <br />or facilitating this transaction, directly or indirectly on behalf of, any such person, group <br />entity, or nation. <br />Buyer's full, legal, and complete name(s) is Westco Properties, LLC. Buyer is not known <br />as, and does not employ any other names or aliases. Buyer shall deliver to Seller such <br />proof of identity that Seller may reasonably require. <br />Page 7of16 <br />