Common use of MAINTENANCE OF THE REAL PROPERTY Clause in Contracts

MAINTENANCE OF THE REAL PROPERTY. The Seller shall make a diligent and good faith effort to maintain and preserve the Real Property in substantially the same condition and repair as it is on the Effective Date, ordinary wear and tear excepted and damage by casualty or condemnation excepted (as provided in Section 12). None of the Personalty or fixtures shall be removed from the Real Property, unless replaced by personal property, fixtures, or inventory of equal or greater utility and value. The Seller shall not perform or allow the performance of any construction on the Real Property, except in the event of an emergency, in which case the Seller shall provide prompt written notice to the Purchaser of the nature and scope of such construction.

Appears in 2 contracts

Sources: Purchase and Sale Agreement, Purchase and Sale Agreement