Common use of Preliminary Due Diligence Clause in Contracts

Preliminary Due Diligence. Within five (5) days after the Opening of Escrow, or as soon thereafter as possible, Seller shall provide to Buyer copies of records Seller has concerning the Property, including but not limited to the existing survey, environmental studies, soil and archeological studies, tax information, lease agreements, recorded and unrecorded easements, surface and irrigation water agreements and obligations, utility service agreements, Covenants, Conditions and Restrictions and other information Seller may have in its possession concerning the Property (“Preliminary Items of Due Diligence”). Buyer shall have the option to request any additional specific items or documentation in Seller’s possession or control which may be reasonably required by Buyer to perform its due diligence by giving Seller written notice of such request. Seller shall provide Buyer with these specific items requested, assuming that they exist and are in Seller’s possession and control, and not proprietary to Seller, within three (3) business days from the date of Seller’s receipt of said written notice, provided that Seller shall not be required to expend any funds to obtain items or documentation not in its possession. If this transaction does not close for any reason, Buyer shall not use any Preliminary Items of Due Diligence provided to Buyer and shall return the same and any copies thereof to Seller.

Preliminary Due Diligence. Within five fifteen (515) days after the Opening of Escrow, or as soon thereafter as possible, Seller shall provide to Buyer copies of all records Seller has concerning the Property, including but not limited to the existing survey, environmental studies, soil and archeological studies, tax information, lease agreements, recorded and unrecorded easements, surface and irrigation water agreements and obligations, utility service agreementsSeller’s Property Disclosure Statement, Covenants, Conditions and Restrictions and any other information Seller may have in its possession concerning the Property (“Preliminary Items of Due Diligence”). Buyer shall have the option to request any additional specific items or documentation in Seller’s possession or control which may be reasonably required by Buyer to perform its due diligence by giving Seller written notice of such request. Seller shall provide Buyer with these specific items requested, assuming that they exist and are in Seller’s possession and control, and not proprietary to Seller, within three five (35) business days from the date of Seller’s receipt of said written notice, provided that Seller shall not be required to expend any funds to obtain items or documentation not in its possession. If this transaction does not close for any reason, Buyer shall not use any Preliminary Items of Due Diligence provided to Buyer and shall return the same and any copies thereof to Seller.