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Optionee's intended purposes (the "Feasibility Study ") at any time during the period (the
<br /> "Feasibility Period ") commencing on the Opening of Escrow and ending at 5:00 p.m. on the
<br /> date that is ninety (90) days after the Opening of Escrow. During the Feasibility Period,
<br /> Optionee shall have the right to deliver to Owner written notice (the "Notice to Proceed ") of
<br /> Optionee's approval of the Feasibility Study and election to proceed with the purchase of the
<br /> Property. Optionee shall be deemed to have disapproved the Feasibility Study if Optionee does
<br /> not deliver the Notice to Proceed to Owner during the Feasibility Period. If Optionee
<br /> disapproves of or is deemed to have disapproved of the Feasibility Study, then the Deposits
<br /> previously made by Optionee shall be immediately returned to Optionee.
<br /> (b) Documents. To the extent Owner has not previously done so, within
<br /> three (3) days after the Execution Date, Owner shall provide Optionee with copies of all current
<br /> Contracts, soil and hydrology reports, environmental or toxic material reports, engineering
<br /> reports, biological studies, archeology reports, improvement plans and specifications,
<br /> engineering studies, traffic studies, earthquake studies, site history investigation documents,
<br /> surveys, civil, architectural, landscape and grading plans, working drawings, leases (including all
<br /> amendments, assignments and other modifications thereof), copies of title insurance policies for
<br /> the Property, copies of all warranties and guaranties pertaining to the Property, unrecorded
<br /> subordination agreements, unrecorded non - disturbance agreements, subleases, estoppel
<br /> certificates, licenses, agreements affecting the Real Property, and other information relating to
<br /> the Real Property, whether in final form or in process, to the extent such documents are in
<br /> Owner's possession (collectively, the "Property Documents "). Notwithstanding the above,
<br /> Property Documents shall not include any internal reports or documentation generated for the
<br /> sole use of the members, shareholders, partners, trustees and other constituents of Owner, letters
<br /> of interest, purchase agreements, expired leases, appraisals, or entity governing documents.
<br /> Following the delivery of all Property Documents to Optionee, Owner shall provide Optionee
<br /> with written notification that all Property Documents have been delivered by Owner. Optionee
<br /> shall have the opportunity to review and approve all Property Documents during the Feasibility
<br /> Period. If any new Property Documents are first obtained by Owner after the Execution Date,
<br /> Owner immediately shall deliver such new Property Documents to Optionee. Optionee shall
<br /> have the right to use all Property Documents, and the Purchase Price includes payment for all
<br /> Property Documents. Optionee shall not disclose any information contained in the Property
<br /> Documents, provided that Optionee shall have the right to disclose such information to the
<br /> following parties and in the following circumstances: (i) Optionee is required to disclose
<br /> information in the Property Documents in response to a subpoena or other regulatory,
<br /> administrative or court order, (ii) independent legal counsel to Optionee delivers a written
<br /> opinion to Owner that Optionee is required to disclose such information, (iii) to actual or
<br /> potential assignees of this Agreement, (iv) in response to a request for discovery in any legal or
<br /> administrative proceeding; (v) in connection with any litigation or other dispute by or among the
<br /> parties to this Agreement; (vi) to the extent any information contained in the Property Documents
<br /> is or becomes part of the public domain through no fault of Optionee; (vii) in connection with
<br /> obtaining, administering, and enforcing rights with respect to insurance (including without
<br /> limitation underwriting insurance, adjusting claims or otherwise procuring, adjusting,
<br /> challenging, administering, disputing or litigating any issues concerning insurance); (viii) to
<br /> Optionee's attorneys, accountants, and consultants, and contractors who are involved in due
<br /> diligence activities or the consummation of the transactions contemplated by this Agreement; or
<br /> (ix) to the extent required by applicable law. If Optionee fails to exercise the Option as and when
<br /> Option Agreement 20 Chemical
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