DATE OF THIS AGREEMENT ("FEASIBILITY
TERMINATION DATE").
BUYER MAY ELECT, BY WRITTEN NOTICE TO SELLER AT ANY TIME
PRIOR TO THE FEASIBILITY TERMINATION DATE, TO TERMINATE THIS AGREEMENT FOR ANY
REASON OR NO REASON, WHICH ELECTION SHALL, IN ANY EVENT, BE IN BUYER'S SOLE AND
ABSOLUTE DISCRETION.
IF BUYER DOES NOT SEND WRITTEN NOTICE OF ITS DESIRE TO
TERMINATE ON OR BEFORE THE FEASIBILITY TERMINATION DATE, BUYER SHALL BE DEEMED
TO HAVE ELECTED TO PROCEED WITH THE CLOSING SUBJECT ONLY TO THE REMAINING
CONDITIONS EXPRESSLY SET FORTH IN THIS AGREEMENT.
UPON ANY TERMINATION OF THIS
AGREEMENT PURSUANT TO THIS SECTION 5.1(B), BUYER SHALL BE ENTITLED TO A REFUND
OF THE DEPOSIT, TOGETHER WITH INTEREST THEREON (IF ANY), AND NEITHER PARTY SHALL
HAVE ANY FURTHER OBLIGATIONS TO THE OTHER HEREUNDER (EXCEPT UNDER PROVISIONS OF
THIS AGREEMENT WHICH SPECIFICALLY STATE THAT THEY SURVIVE TERMINATION).
7
5.2
ACCESS FOR INVESTIGATIONS.
SELLER AGREES
THAT BUYER AND ITS AUTHORIZED AGENTS OR REPRESENTATIVES SHALL BE ENTITLED TO
ENTER UPON THE PROPERTY DURING NORMAL BUSINESS HOURS (I.E., 9:00 AM - 5:00 PM
LOS ANGELES TIME) SUBJECT TO THE TERMS OF THIS SECTION 5.2; PROVIDED, HOWEVER,
THAT SELLER SHALL AFFORD BUYER, UPON REASONABLE NOTICE, WITH REASONABLE ACCESS
TO THE PROPERTY AFTER NORMAL BUSINESS HOURS (INCLUDING ON WEEKENDS) FOR CERTAIN
INSPECTIONS REQUIRING SAME, INCLUDING WITHOUT LIMITATION AIR QUALITY AND
ASBESTOS TESTING.
ALL INVESTIGATIONS OF THE PROPERTY MADE BY OR ON BEHALF OF
BUYER WILL BE AT BUYER'S SOLE COST AND EXPENSE AND WILL BE PERFORMED WITHOUT
CAUSING ANY DAMAGE TO THE PROPERTY OR ANY UNREASONABLE INTERRUPTION IN THE
OPERATIONS OF THE PROPERTY.
BUYER SHALL NOT CAUSE ANY ADVERSE IMPACT TO THE
PROPERTY AND WILL RESTORE THE PROPERTY IN A TIMELY MANNER AT BUYER'S SOLE COST
TO THE CONDITION THAT EXISTED IMMEDIATELY PRIOR TO THE PROPERTY INVESTIGATIONS.
ALL INVESTIGATIONS OF THE PROPERTY OR ANY MATERIALS REGARDING THE OWNERSHIP,
MANAGEMENT, LEASING, USE OR OPERATION OF THE PROPERTY BY BUYER OR ITS AGENTS OR
REPRESENTATIVES PRIOR TO OR FROM AND AFTER THE DATE HEREOF ARE COLLECTIVELY
CALLED THE "PROPERTY INVESTIGATIONS."
SELLER SHALL HAVE THE RIGHT TO HAVE ONE
OR MORE OF ITS AGENTS OR REPRESENTATIVES ACCOMPANY BUYER AND BUYER'S AGENTS AT
ALL TIMES WHILE BUYER OR BUYER'S AGENTS ARE ON THE PROPERTY FOR PURPOSES OF
CONDUCTING PROPERTY INVESTIGATIONS.
PRIOR TO ANY ENTRY UPON THE PROPERTY, BUYER
SHALL PROVIDE SELLER WITH SUFFICIENT EVIDENCE TO SHOW THAT BUYER AND BUYER'S
AGENTS, WHO ARE TO ENTER UPON THE PROPERTY, ARE ADEQUATELY COVERED BY POLICIES
OF INSURANCE ISSUED BY A CARRIER REASONABLY ACCEPTABLE TO SELLER INSURING BUYER
AND SELLER AGAINST ANY AND ALL LIABILITY ARISING OUT OF BUYER'S OR BUYER'S
AGENTS' ENTRY UPON AND PROPERTY INVESTIGATION OF THE PROPERTY, INCLUDING WITHOUT
LIMITATION ANY LOSS OR DAMAGE TO THE PROPERTY, WITH COVERAGE AS SET FORTH IN
SECTION 5.4.
WITHOUT FIRST OBTAINING SELLER'S PRIOR WRITTEN CONSENT, BUYER
SHALL ONLY CONDUCT A VISUAL INSPECTION, WITH NO RIGHT TO CONDUCT ANY PHYSICAL
TESTING, BORING, SAMPLING OR REMOVAL (COLLECTIVELY "PHYSICAL TESTING") OF ANY
PORTION OF THE PROPERTY.
IF BUYER WISHES