Laserfiche WebLink
C. If Buyer proceeds to Closing,the Purchase Price shall be disbursed to Seller <br /> out of the Earnest Monies,and the remaining balance of the Earnest Monies shall be <br />' disbursed to Buyer. <br /> SECTION 4— INTENTIONALLY OMITTED <br /> SECTION 5.1 - CONTINGENCIES. <br /> A. Buyer contemplates acquiring the Property for the construction and operation of <br /> Buyer's prototype P-2001 general merchandise store, initially containing approximately 127,000 <br /> square feet of ground floor space,and related outside sales areas(if any),togetherwith parking and <br /> other appurtenant facilities(the"Contemplated Improvements"). Accordingly, Buyer's obligation to <br /> close the transaction contemplated by this Agreement shall be conditioned upon Buyer satisfying <br /> itself that the following conditions are met: <br /> 1. Buyer may use the Property for retail/commercial purposes without being in <br /> violation of any applicable legal requirement,including any zoning classification, land <br /> use classification, environmental requirement, building classification, or any other <br /> classification or requirement established by any entity or authority having legal <br /> jurisdiction or authority thereover. The availability or probability of the issuance of a <br /> variance or special use permit necessary to satisfy this condition shall not be <br /> considered sufficient unless the actual issuance thereof is or will be unconditional <br /> and the time period for appeal of such issuance has expired without contest. <br /> 2. The following plans, acceptable to Buyer in Buyer's reasonable discretion, <br /> shall have received all necessary governmental approvals,and all time periods for <br /> appeal of such approvals shall have expired without contest: <br /> (i) a site plan for the use and development of the Shopping Center <br /> Tract, including all points of access and signage locations (the "Site Plan"), <br /> and <br /> (ii) a signage plan, including the size, type and design of all exterior <br /> building and freestanding signage Buyer and Seller intend to erect with <br /> respect to the Shopping Center(the"Signage Plan").This condition shall not <br /> be considered satisfied unless the actual issuance of such approvals is or <br /> will be unconditional. <br /> 3. If the Property must be platted or subdivided pursuant to Section 6, a plat or <br /> subdivision map acceptable to Buyer, in Buyer's reasonable discretion,(i)has been <br /> 3 <br /> ::ODMA\PCDOCS\NE WARIC�617546\3 <br /> February 12,2003 <br />