ARISING
19
OUT OF OR WITH RESPECT TO (I) THE CONDITION OF THE PROPERTY, EITHER PATENT OR
LATENT, (II) PURCHASER'S ABILITY, OR INABILITY, TO OBTAIN OR MAINTAIN TEMPORARY
OR FINAL CERTIFICATES OF OCCUPANCY OR OTHER LICENSES FOR THE USE OR OPERATION OF
THE IMPROVEMENTS, AND/OR CERTIFICATES OF COMPLIANCE FOR THE IMPROVEMENTS,
(III) THE ACTUAL OR POTENTIAL INCOME, OR PROFITS, TO BE DERIVED FROM THE REAL
PROPERTY, (IV) THE REAL ESTATE, OR OTHER, TAXES OR SPECIAL ASSESSMENTS, NOW OR
HEREAFTER PAYABLE ON ACCOUNT OF, OR WITH RESPECT TO, THE REAL PROPERTY,
(V) PURCHASER'S ABILITY OR INABILITY TO DEMOLISH THE IMPROVEMENTS OR OTHERWISE
DEVELOP THE REAL PROPERTY, (VI) THE ENVIRONMENTAL CONDITION OF THE REAL
PROPERTY, OR (VII) ANY OTHER MATTER RELATING TO THE PROPERTY.
20.
GENERAL PROVISIONS.
(A)
TERMINATION.
UPON THE TERMINATION OF THIS AGREEMENT PURSUANT TO
SECTIONS 8(C), 9, 10(C), 15(A)(II), 15(B) AND 17(A), (I) THE EARNEST MONEY
DEPOSIT AND ALL INTEREST THEREON SHALL BE RETURNED TO PURCHASER, AND THEREAFTER
NEITHER PARTY SHALL HAVE ANY FURTHER LIABILITY OR OBLIGATION TO THE OTHER EXCEPT
FOR THOSE THAT ARE PROVIDED IN THIS AGREEMENT TO SURVIVE TERMINATION HEREOF, AND
(II) PURCHASER SHALL PROMPTLY RETURN TO SELLER ANY DOCUMENTS (ORIGINALS AND
COPIES) RECEIVED FROM SELLER.
(B)
ENTIRE AGREEMENT.
THIS AGREEMENT AND EXHIBITS HERETO CONSTITUTE
THE ENTIRE AGREEMENT OF SELLER AND PURCHASER WITH RESPECT TO SALE OF THE
PROPERTY AND SUPERSEDE ALL PRIOR OR CONTEMPORANEOUS WRITTEN OR ORAL AGREEMENTS,
WHETHER EXPRESS OR IMPLIED.
(C)
AMENDMENTS.
THIS AGREEMENT MAY BE AMENDED ONLY BY A WRITTEN
AGREEMENT EXECUTED AND DELIVERED BY SELLER AND PURCHASER.
(D)
WAIVERS.
NO WAIVER OF ANY PROVISION OR CONDITION OF, OR DEFAULT
UNDER, THIS AGREEMENT BY ANY PARTY SHALL BE VALID UNLESS IN WRITING SIGNED BY
SUCH PARTY.
NO SUCH WAIVER SHALL BE TAKEN AS A WAIVER OF ANY OTHER OR SIMILAR
PROVISION OR OF ANY FUTURE EVENT, ACT, OR DEFAULT.
(E)
TIME.
TIME IS OF THE ESSENCE OF THIS AGREEMENT.
IN THE
COMPUTATION OF ANY PERIOD OF TIME PROVIDED FOR IN THIS AGREEMENT OR BY LAW, THE
DAY OF THE ACT OR EVENT FROM WHICH THE PERIOD OF TIME RUNS SHALL BE EXCLUDED,
AND THE LAST DAY OF SUCH PERIOD SHALL BE INCLUDED, UNLESS IT IS NOT A BUSINESS
DAY, IN WHICH CASE IT SHALL RUN TO THE NEXT DAY WHICH IS BUSINESS DAY.
FOR THE
PURPOSE OF THIS AGREEMENT, THE TERM "BUSINESS DAY" MEANS ANY DAY OTHER THAN
(A) SATURDAY, (B) SUNDAY, OR (C) ANY OTHER DAY WHEN FEDERALLY INSURED BANKS IN
CHICAGO, ILLINOIS ARE REQUIRED OR AUTHORIZED TO BE CLOSED.
ALL TIMES OF THE DAY
SET FORTH HEREIN SHALL BE CENTRAL STANDARD TIME.
(F)
UNENFORCEABILITY.
IN THE EVENT THAT ANY PROVISION OF THIS
AGREEMENT SHALL BE UNENFORCEABLE IN WHOLE OR IN PART, SUCH PROVISION SHALL BE
LIMITED TO THE EXTENT NECESSARY TO RENDER THE SAME VALID, OR SHALL BE EXCISED
FROM THIS AGREEMENT, AS CIRCUMSTANCES REQUIRE, AND THIS AGREEMENT SHALL BE
CONSTRUED AS IF SAID PROVISION HAD BEEN INCORPORATED HEREIN AS SO LIMITED, OR AS
IF SAID PROVISION HAS NOT