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4 <br /> <br /> Purchase Price. Buyer shall pay the Purchase Price to Seller on the Closing Date by wire <br />transfer. <br /> Earnest Money. Within ten (10) business days after the Effective Date, Buyer shall <br />deliver to Escrow Agent the Earnest Money. Escrow Agent shall hold the Earnest Money in an interest <br />bearing account with a financial institution insured by the Federal Deposit Insurance Corporation. Escrow <br />Agent shall hold and disburse the Earnest Money in accordance with the terms of this Contract, including <br />the terms on Exhibit B. At Closing, the Earnest Money will be applied against the Purchase Price. <br /> Closing. The closing (“Closing”) shall occur through an escrow at the offices of Buyer’s <br />Counsel on the Closing Date. All funds necessary for Closing shall be deposited with Buyer’s Counsel and <br />held in a trust account with Truist Bank. Upon satisfaction of all closing conditions and deliveries <br />(including a title update confirming that title to the Property is in the condition required by this Contract <br />and the recordation of the Deed (as defined in Section 7.1.1(a)), Buyer and Seller shall direct Buyer’s <br />Counsel to deliver the closing documents to the appropriate parties and make disbursements according to <br />the closing statement executed by Buyer and Seller. <br />2.5 Closing Date Extensions. Buyer shall have the right to adjourn and otherwise extend the <br />Closing Date for two (2) periods of thirty (30) days each by the payment of an addition $10,000 for each <br />such extension to the Escrow Agent (each an “Extension Deposit”). Each Extension Deposit is non- <br />refundable to Buyer except in the event of a breach by Seller and shall be applied to the Purchase Price at <br />Closing. <br />ARTICLE III <br />Inspection <br /> Access and Inspection. Buyer’s agents, contractors, employees and representatives may <br />enter the Property for the purposes of inspecting the Property, conducting soil tests, surveys, mechanical <br />and structural engineering studies, environmental investigations (including installing groundwater <br />monitoring wells, performing soil borings and analysis of the soil, groundwater, surface water, sediment <br />and other media at the Property), title examinations, and any other investigations and inspections as Buyer <br />may reasonably require to assess the condition of the Property (collectively, “Inspections”). All <br />Inspections shall occur at reasonable times and be conducted so as not to unreasonably interfere with the <br />use or operation of the Property. If Buyer desires to conduct any invasive testing at the Property, then Buyer <br />shall do so only after reasonable prior written notice to Seller (which shall be at least three (3) business <br />days in advance). As Seller’s request, Buyer shall promptly furnish to Seller copies of any reports received <br />by Buyer related to its Inspections. The Inspections will not materially damage the Property except as is <br />ordinarily required for the performance of the Inspections. Buyer shall hold Seller harmless from and <br />against any claims for injury to person or for damage to property to the extent resulting from the Inspections, <br />except for claims arising out of: (a) any existing environmental contamination or latent defects on the <br />Property that are discovered by Buyer as a result of the Inspections, and any disclosure of such matters by <br />Buyer or its consultants to a governmental agency that may be required by Applicable Laws; and (b) any <br />matters arising directly or indirectly from the acts or omissions of Seller. Seller shall also cooperate in <br />good faith with Buyer and Buyer’s agents and employees during the Inspection Period. <br /> Inspection Period. Buyer may, for any reason (or for no reason), terminate this Contract <br />at any time prior to the end of the Inspection Period by delivering notice to Seller. If Buyer so terminates <br />this Contract, then Escrow Agent shall refund the Earnest Money to Buyer and neither party shall have any <br />further rights or obligations under this Contract (other than those that expressly survive termination of this <br />Contract). Buyer’s failure to terminate this Contract prior to the end of the Inspection Period shall not <br />Docusign Envelope ID: 6FA32B3A-54E4-43D1-ADFC-0E9AD5C2D12E