EXTENSION FOR BUYER DELAY AND FORCE
MAJEURE (PROVIDED THAT THE OUTSIDE COMPLETION DATE SHALL NOT BE EXTENDED FOR
MORE THAN AN TOTAL OF FORTY-FIVE (45) DAYS AS A RESULT OF EVENTS OF FORCE
MAJEURE), THEN BUYER SHALL HAVE THE RIGHTS PROVIDED FOR IN SECTIONS 13.2 OR
13.3, AS APPLICABLE.
6.2
Construction Period Matters.
(A)
INSURANCE.
SELLER HAS OBTAINED AND SHALL MAINTAIN IN FULL FORCE
AND EFFECT FOR THE ENTIRE PERIOD PRIOR TO THE CLOSING (OR THE EARLIER
TERMINATION OF THIS AGREEMENT) THE POLICIES OF "ALL-RISK" AND OTHER INSURANCE
SPECIFIED ON THE CERTIFICATE OF INSURANCE ATTACHED HERETO AS EXHIBIT U.
(B)
PERMITS AND APPROVALS.
SELLER SHALL OBTAIN, MAINTAIN IN FULL
FORCE AND EFFECT AND SUBSTANTIALLY COMPLY WITH THE REQUIREMENTS OF ALL OF THE
PERMITS REQUIRED FOR THE CONSTRUCTION OF THE SHELL BUILDING IMPROVEMENTS IN
ACCORDANCE WITH THE CONSTRUCTION PLANS.
SELLER SHALL, PROMPTLY UPON ISSUANCE
THEREOF, DELIVER TO BUYER A TRUE, CORRECT AND COMPLETE COPY OF THE NEW SPECIAL
PERMIT AND THE FOUNDATION PERMIT AND THE BUILDING PERMIT FOR THE SHELL BUILDING
IMPROVEMENTS.
COPIES OF ANY OTHER MATERIAL PERMIT OR OTHER GOVERNMENTAL
APPROVAL ISSUED OR OBTAINED AFTER THE DATE HEREOF RELATING TO THE CONSTRUCTION
OF THE SHELL BUILDING IMPROVEMENTS SHALL BE AVAILABLE AT THE PROPERTY FOR
REVIEW.
(C)
NEW CONTRACTS.
SELLER SHALL NOT TAKE ANY ACTION TO ENTER INTO,
AMEND, TERMINATE, RENEW OR OTHERWISE ALTER, ANY CONTRACT THAT WILL BE BINDING
UPON BUYER OR THE PROPERTY AFTER CLOSING, IN EACH CASE WITHOUT THE CONSENT OF
BUYER, WHICH CONSENT MAY BE GIVEN OR WITHHELD IN BUYER'S SOLE AND ABSOLUTE
DISCRETION.
SELLER SHALL NOT TAKE ANY ACTION TO ENTER INTO ANY LEASE OR
OCCUPANCY AGREEMENT AFFECTING THE PROPERTY.
BUYER ACKNOWLEDGES THAT SELLER HAS
ENGAGED NSTAR TO PROVIDE A TRANSFORMER AND ELECTRICAL SERVICE TO THE PROPERTY.
IN ADDITION, TO THE EXTENT THAT ALTERNATIVE RATE SCHEDULES ARE AVAILABLE, BUYER
SHALL DETERMINE THE UTILITY RATE SCHEDULE APPLICABLE TO THE PROPERTY AND SELLER
SHALL NOT COMMIT TO ANY RATE SCHEDULE THAT WOULD APPLY TO THE PROPERTY AFTER THE
CLOSING WITHOUT BUYER'S PRIOR APPROVAL.
ANY REBATES PAYABLE BY ANY UTILITY
PROVIDER OR OTHERWISE SHALL BE PAYABLE TO BUYER (OR IF PAID PRIOR TO THE
CLOSING, BUYER SHALL RECEIVE A CREDIT IN THE AMOUNT THEREOF AT THE CLOSING).
12
(D)
CONSTRUCTION CONSULTANT.
SELLER SHALL KEEP BUYER INFORMED AS TO
THE STATUS AND PROGRESS OF CONSTRUCTION OF THE SHELL BUILDING IMPROVEMENTS AND
ANY CHANGES IN THE ANTICIPATED COMPLETION OF CONSTRUCTION THEREOF.
FOR SUCH
PURPOSE, SELLER AND BUYER'S CONSTRUCTION CONSULTANT SHALL MEET PERIODICALLY (AND
SUCH MEETINGS SHALL INCLUDE CONTRACTOR, ARCHITECT AND OTHER PERSONS AS MAY
REASONABLY REQUESTED BY CONSTRUCTION CONSULTANT), AND SELLER AND THE
CONSTRUCTION CONSULTANT SHALL AGREE UPON A SCHEDULE FOR SUCH MEETINGS TWO
(2) WEEKS PRIOR TO EACH SUCH MEETING.
IN ADDITION, THE CONSTRUCTION CONSULTANT
SHALL BE INFORMED REASONABLY IN ADVANCE OF SELLER'S PERIODIC CONSTRUCTION
MEETINGS WITH CONTRACTOR AND/OR ARCHITECT AND SHALL BE ENTITLED TO ATTEND SUCH
CONSTRUCTION MEETINGS AS AN OBSERVER.
SELLER SHALL PROVIDE CONSTRUCTION
CONSULTANT WITH TWENTY-FOUR (24) HOURS PRIOR NOTICE OF ANY CHANGE IN THE DATE,