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Agmt10 Chemical Way Properties
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Agmt10 Chemical Way Properties
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Last modified
10/13/2010 3:42:55 PM
Creation date
10/13/2010 3:41:34 PM
Metadata
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Agreement
Contractor Name
Chemical Way Properties
PROJECT NAME
Real Estate Option Agreement 20 Chemical Way APN 052-392-240
RMP File Number
304
Date
10/1/2010
MO Ref
10-194
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been freely negotiated and shall be equally binding upon Owner and Optionee and no such term, <br /> condition or provision shall be construed against either party hereto solely because such term, <br /> condition or provision was initially drafted or prepared by such party. Unless otherwise <br /> indicated, all references to paragraphs or sections are to this Agreement. All exhibits, schedules, <br /> addenda and attachments referred to in this Agreement are attached to it and incorporated in it by <br /> this reference. Any gender used shall be deemed to refer to any other gender more grammatically <br /> applicable to the party to whom such use of gender relates. <br /> (m) Amendments. No amendment to this Agreement will be binding on any of <br /> the parties to this Agreement unless the amendment is in writing and executed by all parties. No <br /> acts or omissions of any employee or agent of the parties or any broker, if any, shall alter, change <br /> or modify any of the provisions of this Agreement. <br /> (n) Non - Liability of Officials. No officer, official, member, employee, agent, <br /> or representatives of Optionee shall be liable for any amounts due hereunder, and no judgment or <br /> execution thereon entered in any action hereon shall be personally enforced against any such <br /> official, member, employee, agent, or representative. <br /> (o) Owner's Tax Deferred Exchange. Owner may desire to effect a tax - <br /> deferred exchange with respect to its disposition of the Property ( "Owner's Exchange ") <br /> pursuant to Section 1031 of the Internal Revenue Code. Owner's Exchange will be structured by <br /> Owner at its sole cost and expense and Optionee will have no obligation to acquire or enter into <br /> the chain of title to any property other than the Property. Optionee's sole obligation in <br /> connection with Owner's Exchange shall be to review and execute such documentation as is <br /> reasonably necessary in order to effectuate Owner's Exchange in accordance with the foregoing <br /> and the applicable rules governing such exchanges. Optionee's cooperation with Owner's <br /> Exchange shall not affect or diminish Optionee's rights under this Agreement, delay the Closing <br /> or be construed as Optionee's warranty that Owner's Exchange in fact complies with <br /> Section 1031 of the Internal Revenue Code. Optionee shall have the right to review and <br /> reasonably approve any documents to be executed by Optionee in connection with Owner's <br /> Exchange. Acceptance of title to the Property from Owner's designated intermediary shall not <br /> modify Owner's representations, warranties and covenants to Optionee under this Agreement or <br /> the survival thereof pursuant to this Agreement. The Grant Deed and all closing documents shall <br /> run directly between Owner and Optionee. Owner is relying solely upon the advice and counsel <br /> of professionals of Owner's choice in structuring, executing and consummating Owner's <br /> Exchange. <br /> (p) Advice of Advisors. Each party to this Agreement acknowledges and <br /> agrees that it has obtained and relied upon its own legal counsel and other advisors to evaluate <br /> the tax, accounting and legal consequences of entering into this Agreement and consummating <br /> the transactions contemplated hereby, and, except as set forth in this Agreement, neither party is <br /> relying on any representations or warranties of the other party to this Agreement. <br /> 25. Owner's Waivers. <br /> (a) Waiver of Relocation Assistance. Optionee's payment to Owner of the <br /> Purchase Price and Relocation Compensation shall constitute full and complete satisfaction of <br /> Option Agreement 20 Chemical <br /> 10.05. 2010 v.5 <br /> 25 <br />
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