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02/09/23
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02/09/23
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occupancy from Seller (the "Condition"), for an ALDI branded select assortment retail <br />grocery store at the Property on or prior to Insert date 24 months after Closing date (the <br />"Condition Satisfaction Deadline"), and such failure continues for a period of 30 days <br />after Buyer's receipt of written notice from Seller. Seller agrees that Seller shall not <br />unreasonably withhold, condition, deny, or delay said required certificate of occupancy <br />and that a failure of satisfaction of the Condition on or prior to the Condition Satisfaction <br />Deadline that is due to or attributable to (a) any such delay by Seller shall not entitle Seller <br />to its remedy set forth in this Agreement, and/or (b) Seller's failure to timely complete <br />Seller's Site Obligations as set forth in the Purchase Agreement. <br />3. If Buyer has failed, subject to Force Majeure (defined below), casualty, condemnation, or <br />other circumstances out of the reasonable control of Buyer, to satisfy the Condition on or <br />prior to the Condition Satisfaction Deadline, and such failure continues beyond the notice <br />and cure period, then at any time thereafter until the Condition is satisfied, at the written <br />request of the Seller, Buyer shall convey to Seller in exchange for payment by Seller to <br />Buyer (in immediately available funds) of seven hundred twenty-five thousand dollars <br />($725,000) or the actual purchase price paid by the Buyer, the Property. If Seller so elects <br />to re-enter and retake the Property as provided herein, Buyer shall, within 30 days after <br />receipt of Seller's written notice, deliver to Seller a limited warranty deed, subject to all <br />matters of records other than for monetary liens for which Buyer is responsible, as well as <br />any other reasonable ancillary documents reasonably necessary to transfer fee title to the <br />Property to Seller. All applicable deed tax required to be paid by the transfer to the Seller <br />will be paid by Buyer. <br />4. This document constitutes the entire Agreement between the parties with respect to the <br />subject matter hereof. Any modifications or amendments to this Agreement must be in <br />writing and signed by both parties. <br />5. This Agreement may be executed in counterparts, each of which when executed and <br />delivered shall be deemed an original, but such counterparts together shall constitute but <br />one and the same document. <br />6. This Agreement shall automatically terminate and be of no further force or effect upon the <br />date that Buyer satisfies the Condition, and Seller agrees to immediately execute and <br />deliver to Buyer, in recordable form, a document removing this Agreement of record. If <br />Seller fails to deliver said termination within 5 business days after receipt of written request <br />from Buyer (which may be by email), then Buyer may unilaterally record a termination of <br />this Agreement of record and Seller agrees that such termination shall conclusively be <br />deemed effective, and may be relied upon by title companies and future purchasers of the <br />Property. <br />7. If Buyer is delayed or hindered in or prevented from satisfying the Condition by Force <br />Majeure, the Condition Satisfaction Deadline shall be extended for the period of the delay. <br />The term "Force Majeure" means a delay beyond the reasonable control of the delayed <br />party caused by labor strikes, lock outs, industry wide inability to procure materials, <br />extraordinary restrictive governmental laws or regulations (such as gas rationing),delays <br />caused by any governmental or quasi -governmental entity, delays caused by utility service <br />26 <br />B: <br />S: <br />
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