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7. CONDITIONS PRECEDENT TO FINAL PERFORMANCE OF THIS AGREEMENT <br /> <br /> 7.1 The following are conditions precedent to the final performance of this <br /> Agreement, and are not conditions precedent to its formation: <br /> <br /> A. Buyer's approval of the PTR, including legal description of the <br /> Property, and the documents referred to in Paragraph 6B hereof, <br /> which approval shall be given as provided in Paragraph 7.2 <br /> hereof. <br /> <br /> B. Buyer's approval of the soils condition, engineering and/or <br /> feasibility studies, and any requirements or regulations of the <br /> Department of Building and Safety, Health Department or any other <br /> city, county, state or federal authority which are pertinent to <br /> Buyer's intended use of the Property, which approval shall be <br /> given as provided in Paragraph 7.2. <br /> <br /> 7.2 Buyer shall deliver to Seller and Escrow Holder Buyer's written <br /> approval or disapproval of the matters referred to in Paragraph 7.1{A) <br /> ten (10} da~s after receipt thereof, and the matters referred to <br /> . 1 . the event such <br /> written approval or disapproval is not received by Seller and Escrow <br /> Holder on or before the due date, it shall be conclusively presumed- <br /> that Buyer has unconditionally approved each of said matters. Upon <br /> approval of such matters, by either express written approval or by <br /> failure to deliver timely disapproval, Escrow Holder shall disburse to <br /> Seller the total amount of the Deposit, less $500.00, as provided in <br /> Paragraph 4. <br /> <br /> 7.3 In the event that Buyer delivers timely disapproval or conditional <br /> approval of the PTR, or any part thereof, or any of the items referred <br /> to in Paragraphs 7.1(A) or (B) then for a period of ten days after <br /> receipt of such written notice ~y Seller, Seller, by written notice to <br /> Buyer, may elect to cure said disapproved or conditionally <br /> approved items prior to the close of Escrow. If Seller does not elect <br /> to cure all of said items, then, for a period of ten days after said <br /> written notice to Buyer, Buyer shall have the right either to accept <br /> title to the Property subject to said items, thereby waiving any and <br /> all claims against Seller by reason thereof, or to terminate this <br /> A reement. Buyer shall give written notice to Seller of Buyer's <br /> eVection vithin ten s <br /> , either (i) receipt of Notice of Seller' <br /> days after <br /> election not to cure, or (ii) the expiration of the time in which <br /> Seller shall have been required to respond to Buyer's notice of <br /> disapproval or conditional approval. If Buyer shall fail to give <br /> Seller such written notice of Buyer's election within the time <br /> specified, it shall be conclusively presumed that Buyer has elected to <br /> terminate this Agreement. If Buyer elects to terminate this Agreement, <br /> neither Buyer nor Seller shall have any further liability hereunder, <br /> except that Buyer shall be entitled to the prompt return of all funds <br /> deposited by Buyer with Escrow Holder, less only escrow cancellation <br /> fees and costs and title company charges, all of which Buyer hereby <br /> agrees to pay. <br /> <br /> Document 0044 <br /> Page 3 of 8 <br /> <br /> <br />