THEREBY BECOME "PERMITTED EXCEPTIONS").
3.2
SURVEY.
SELLER WILL PROVIDE TO BUYER A COPY OF THE MOST RECENT
SURVEY DATED SEPTEMBER 21, 2006.
BUYER MAY ORDER AN UPDATED SURVEY
(COLLECTIVELY, THE "SURVEY") FOR THE PROPERTY.
DURING THE DUE DILIGENCE PERIOD,
BUYER HAS THE RIGHT TO PROVIDE WRITTEN NOTICE TO SELLER OF OBJECTIONS TO THE
SURVEY.
BUYER SHALL DELIVER A COPY OF ANY UPDATED SURVEY TO SELLER AND TITLE
COMPANY.
3.3
FEASIBILITY CONDITION.
3.3.1
BUYER SHALL HAVE UNTIL 5:00 P.M. CENTRAL STANDARD TIME, ON THE LAST
DAY OF THE DUE DILIGENCE PERIOD TO CONFIRM, AT BUYER'S SOLE EXPENSE, WHETHER
BUYER DESIRES TO PURCHASE THE PROPERTY.
PRIOR TO OR ON THE LAST DAY OF THE DUE
DILIGENCE PERIOD, BUYER SHALL HAVE THE ABSOLUTE RIGHT TO TERMINATE THIS
AGREEMENT AS HEREINAFTER SET FORTH.
BUYER SHALL HAVE THE RIGHT TO REVIEW AND
INVESTIGATE, IN ADDITION TO ALL OTHER MATTERS REGARDING THE PROPERTY, INCLUDING,
BUT NOT LIMITED TO, ALL OF THE FOLLOWING:
(A)
THE PHYSICAL CONDITION OF THE PROPERTY;
(B)
TITLE TO THE PROPERTY;
(C)
THE AVAILABILITY OF ALL NECESSARY UTILITIES AND GRAVITY SEWERS AND
STORM DRAINS FOR THE PROPERTY;
(D)
LEASES, SERVICE CONTRACTS, TAX BILLS AND OTHER WRITTEN AGREEMENTS
OR NOTICES WHICH AFFECT THE PROPERTY TO THE EXTENT AVAILABLE;
(E)
THE SURVEY;
(F)
THE ENVIRONMENTAL CONDITION OF THE LAND AND THE IMPROVEMENTS,
INCLUDING THE EXISTENCE OF TOXIC WASTE AND HAZARDOUS SUBSTANCES; AND
5
(G)
THE ECONOMIC FEASIBILITY OF BUYER'S INTENDED USE OF THE PROPERTY.
3.3.2
IN CONNECTION WITH BUYER'S DUE DILIGENCE INVESTIGATION, SELLER
SHALL, WITHIN FIVE (5) BUSINESS DAYS OF THE EFFECTIVE DATE, FURNISH OR MAKE
AVAILABLE TO BUYER THE DOCUMENTS AND OTHER ITEMS (THE "PROPERTY INFORMATION")
LISTED ON EXHIBIT K ATTACHED HERETO AND MADE A PART HEREOF, TO THE EXTENT ANY OF
SUCH DOCUMENTS ARE IN SELLER'S POSSESSION.
3.3.3
BUYER HAS ADVISED SELLER THAT BUYER MUST CAUSE TO BE PREPARED UP TO
THREE (3) YEARS OF AUDITED FINANCIAL STATEMENTS IN RESPECT OF THE PROPERTY IN
COMPLIANCE WITH THE POLICIES OF BUYER AND CERTAIN LAWS AND REGULATIONS,
INCLUDING, WITHOUT LIMITATION, SECURITIES AND EXCHANGE COMMISSION REGULATION
S-X. SELLER AGREES TO USE REASONABLE EFFORTS TO COOPERATE, AT NO COST OR EXPENSE
TO SELLER, WITH BUYER'S AUDITORS IN THE PREPARATION OF SUCH AUDITED FINANCIAL
STATEMENTS (IT BEING UNDERSTOOD AND AGREED THAT THE FOREGOING COVENANT SHALL
SURVIVE THE CLOSING). WITHOUT LIMITING THE GENERALITY OF THE PRECEDING SENTENCE:
(I) SELLER SHALL, DURING NORMAL BUSINESS HOURS, ALLOW BUYER'S AUDITORS
REASONABLE ACCESS TO SUCH BOOKS AND RECORDS MAINTAINED BY SELLER (AND SELLER'S
MANAGER OF THE PROPERTY) IN RESPECT SOLELY OF THE PROPERTY AS NECESSARY TO
PREPARE SUCH AUDITED FINANCIAL STATEMENTS; (II) SELLER SHALL USE REASONABLE
EFFORTS TO PROVIDE TO BUYER SUCH FINANCIAL INFORMATION AND SUPPORTING
DOCUMENTATION AS ARE NECESSARY AND RELATED SOLELY TO THE PROPERTY FOR BUYER'S
AUDITORS TO PREPARE AUDITED FINANCIAL STATEMENTS; (III) SELLER WILL MAKE
AVAILABLE AT REASONABLE TIMES FOR INTERVIEW BY BUYER AND BUYER'S AUDITORS THE
MANAGER OF THE PROPERTY OR OTHER AGENTS OR REPRESENTATIVES OF SELLER RESPONSIBLE
FOR THE DAY-TO-DAY OPERATION OF THE PROPERTY AND THE KEEPING