Common use of Developer’s Property Investigation Clause in Contracts

Developer’s Property Investigation. 1. It shall be the sole responsibility of Developer, at Developer’s sole cost and expense, to investigate and determine all conditions of the Property and its suitability for the use to which the Property is to be put in accordance with this Agreement. The Agency and Developer entered into that certain Exclusive Negotiation Agreement dated as of May 3, 2011 (“ENA”). During the term of the ENA, ▇▇▇▇▇▇▇▇▇ had the opportunity to investigate the Property and the Project to determine whether the same are acceptable to Developer, including without limitation as to physical, environmental, entitlement, regulatory, legal and financial matters. If Developer determined that either the Property or the Project was not suitable or feasible for any reason, on or before the last day of the effectiveness of the ENA, Developer had the right to send written notice of such determination to the Agency, in which case the ENA would have immediately terminated, except for those provisions that expressly survive termination. Developer did not send any such determination to the Agency. Developer represents and warrants to Agency that Developer has had sufficient time and opportunity to investigate the Property and the Project and has no objections to the condition of the Property. 2. If the conditions of the Property are not in all respects entirely suitable for the use or uses to which the Property will be put under the terms of this Agreement, then it is the sole responsibility and obligation of Developer to take such action as may be necessary to place the Property in all respects in a condition entirely suitable for its development and use in accordance with this Agreement.

Developer’s Property Investigation. 1. It shall be the sole responsibility of Developer, at Developer’s sole cost and expense, to investigate and determine all conditions of the Property and its suitability for the use to which the Property is to be put in accordance with this Agreement. The Agency and Developer entered into that certain Exclusive Negotiation Agreement dated as of May 3, 2011 (“ENA”). During the term of the ENA, ▇▇▇▇▇▇▇▇▇ Developer had the opportunity to investigate the Property and the Project to determine whether the same are acceptable to Developer, including without limitation as to physical, environmental, entitlement, regulatory, legal and financial matters. If Developer determined that either the Property or the Project was not suitable or feasible for any reason, on or before the last day of the effectiveness of the ENA, Developer had the right to send written notice of such determination to the Agency, in which case the ENA would have immediately terminated, except for those provisions that expressly survive termination. Developer did not send any such determination to the Agency. Developer represents and warrants to Agency that Developer has had sufficient time and opportunity to investigate the Property and the Project and has no objections to the condition of the Property.Property.‌ 2. If the conditions of the Property are not in all respects entirely suitable for the use or uses to which the Property will be put under the terms of this Agreement, then it is the sole responsibility and obligation of Developer to take such action as may be necessary to place the Property in all respects in a condition entirely suitable for its development and use in accordance with this Agreement.