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Book : 3758 �age : 107 <br /> J. INSPECTION. It is further agreed between Municipality and Developer as follows: <br /> 1. Developer, at its expense, may have the Premises inspected within thirty (30) <br />' days after the execution of this Agreement to verify that no Hazardous Substance <br /> is present, that the Premises is in strict compliance witll all Environmental Laws � <br /> and that no underground foundations, footings or other materials exist that, in the I <br /> sole opinion of Developer's engineer, will increase the Developer's anticipated <br /> construction costs or hinder or delay the Developer's anticipated construction , <br /> schedule. The Developer may select the inspection firm or individual. ' <br /> 2. In the event said inspection reveals the presence of any condition(s) described in � <br /> Section l.Il herein, then the Developer may give written notice to Municipality I <br /> within seven (7) days, excluding Saturdays, Sundays, and federal holidays, after I <br /> the date of its receipt of an inspection report, stating the nature of such <br /> inspection, the defect and the estimated cost to remove and correct said <br /> condition(s). I <br /> 3. Within seven (7) days excluding Saturdays, Sundays and federal holidays after I <br /> receipt of such notice from the Developer, Municipality shall notify Developer in <br /> writing of its election of one of the following options: <br /> a. To remove and correct said conditions(s) prior to Closing in accordance <br /> with Developer's written inspection report and written cost estimate. <br /> b. To obtain the Developer's agreement to apportion the cost necessary to <br /> remove and correct said conditions(s). Developer shall have seven (7) <br /> days, excluding Saturdays, Sundays and federal holidays, to accept or <br /> reject Municipality's offer to apportion the cost of correcting said <br /> . condition(s). If Developer rejects Municipality's offer or does not <br /> respond in writing within the allotted time, this Agreement shall become <br /> null and void and earnest money shall be refunded to Developer; or <br /> c. To declare this Agreement void and return the earnest money to the <br /> Developer. <br /> 4. In the absence of written notice by Municipality to Developer within the time <br /> specified herein, Developer may declare this Agreement void and its earnest <br /> money sha11 be returned. <br /> 5. For a period of 45 days after the execution of this Agreement, Developer and its <br /> agents and representatives shall also be entitled to inspect all contracts, <br /> agreements, leases, documents, and matters,public or private, in the possession <br /> of the Municipality and its agents and representatives, pertaining to the Premises <br /> and the properties described in Exhibit C hereto. <br /> K. DEVELOPER'S CONSTRUCTION SCHEDLJLE. The Developer shall commence <br /> construction of facilities constituting the Development Project, and complete such <br /> construction, occupy the Premises and begin operations as set forth in the timetable in <br /> EXHIBIT A. <br /> RDLLC 20060926 vl (� <br />