Real Estate Post-COVID Addendum

REAL ESTATE POST-COVID ADDENDUM

This Post-COVID Addendum supplements and amends the Purchase Agreement (the Agreement) dated between Buyer: and Seller: for the property located at (the Property).

Property Identification

Purpose and Scope

The parties acknowledge that since the execution of the Agreement, public health conditions related to COVID-19 and similar communicable disease events may materially affect performance, closing, possession, occupancy, regulatory compliance, health and safety protocols, inspection procedures, and the cost of remediation. This Addendum establishes specific procedures, allocation of costs, notice requirements and remedies related to such events and is intended to be read in conjunction with the Agreement. Capitalized terms used but not defined herein have the meanings set forth in the Agreement.

Health and Access Protocols

During inspections, walkthroughs, vendor access, and any activities on the Property prior to closing, parties shall comply with all applicable public health orders and the following protocols. Failure to comply may result in the denial of access until compliance is achieved.

Masks or face coverings required on entry
Health screening questionnaire for visitors and vendors prior to entry
Social distancing of at least six feet where practicable
Limited occupancy for showings and inspections as specified by the parties
Virtual inspection or video walkthrough option available to Buyer upon request

Disclosure and Known Cases

Seller represents and warrants to the best of Seller's actual knowledge as of the date below the following statements. Check one for each item and provide details where required.

Yes    No

Inspections, Remediation and Costs

Buyer may, at Buyer's expense, obtain tests, inspections, or assessments related to communicable disease contamination, airborne pathogens, mold, or other related conditions. If such inspections identify conditions materially affecting habitability or safety, Seller shall have the option to remediate within days at Seller's expense.

Accept condition and proceed to closing with a negotiated credit of $
Terminate the Agreement and receive return of all deposit funds in accordance with the Agreement

Closing and Possession Delays

If a governmental public health order or a bona fide quarantine, mandated isolation, or similar restriction prevents either party, a necessary third-party (including lenders, title companies, or escrow holders), or required contractors from completing steps required to close the transaction, the closing date shall be extended automatically for a period equal to the duration of the restriction plus an additional days, unless the non-performing party elects to terminate in writing prior to the expiration of such extension.

In the event of repeated or successive public health orders that, in the aggregate, delay closing by more than days, either party may terminate the Agreement by written notice to the other party and entitlement to remedies specified in the Agreement.

Allocation of Cleaning, Testing and Remediation Costs

Unless otherwise agreed in writing, the following allocation applies:

Initial Buyer-requested testing and inspection costs: Buyer responsible.
Remediation required due to Seller-known condition: Seller responsible.
Remediation required due to previously unknown contamination discovered after the date of the Agreement: Parties will bear costs as follows:

Force Majeure and Pandemic Events

For the purposes of the Agreement, a Force Majeure event shall include pandemics, epidemics, quarantines, government-imposed restrictions, widespread illness among necessary personnel, and other substantially similar public health emergencies. A party whose performance is delayed by such an event shall provide prompt written notice to the other party describing the nature of the event, the anticipated impact on performance, and the anticipated duration. The parties shall use commercially reasonable efforts to mitigate the effects of any Force Majeure event and to resume performance as soon as reasonably practicable.

Privacy, Medical Information and Confidentiality

Any health-related information, test results, or medical records disclosed under this Addendum shall be treated as confidential and used solely for the limited purposes set forth herein. The parties agree to comply with applicable privacy laws and to provide only the minimum information necessary for health and safety decisions. Health information shall not be used as a basis for discrimination in violation of law.

Notices

All notices required or permitted under this Addendum shall be given in the manner provided in the Agreement. For purposes of coordination related to health protocols, the parties designate the following local contact information:

Representations, Warranties and Indemnity

Seller represents and warrants that, to Seller's actual knowledge as of the date below, Seller has disclosed all known past or present conditions on the Property materially related to communicable disease contamination. Each party agrees to indemnify and hold harmless the other party from and against any third-party claims arising from the indemnifying party's breach of its obligations under this Addendum or its negligent or willful failure to comply with health protocols imposed hereunder.

Governing Law; Entire Agreement

This Addendum shall be governed by and construed in accordance with the law governing the Agreement. Except as expressly modified by this Addendum, all terms and conditions of the Agreement remain in full force and effect. In the event of any inconsistency between this Addendum and the Agreement, the terms of this Addendum shall control.

Acknowledgment

By signing below, Buyer and Seller acknowledge that they have read and understand this Addendum, that they have had the opportunity to seek independent advice, and that this Addendum is binding upon them and their successors and assigns.

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