If any condition precedent to Sellers obligation to close the transactions contemplated by this
Agreement, as set forth in Section 7.2 of this Agreement, has not been satisfied on or before the Closing Date, then Seller shall give notice to Purchaser of the condition or conditions that Seller asserts are not satisfied. Purchaser shall
have the right to extend the Closing Date to satisfy the unsatisfied condition for a period of up to seven (7) additional days, by giving written notice thereof to Seller and Escrow Agent within one (1) Business Day after the Designated
Closing Date, but in no event beyond December 31, 2012. Seller shall have the right to waive the unsatisfied condition or conditions by written notice to Purchaser and Escrow Agent given within five (5) Business Days after expiration of
the applicable satisfaction period without satisfaction having occurred, in which event the Closing Date shall be the date that is five (5) Business Days after Purchasers receipt of Sellers waiver notice. Notwithstanding the
foregoing or anything set forth herein to the contrary, in no event shall the Closing Date be extended for Purchasers failure to fund into escrow the balance of the Purchase Price due at Closing as required under this Agreement, unless
expressly agreed by Seller in writing in Sellers sole and absolute discretion.
7.3.2 Waiver. If the transaction
contemplated by this Agreement closes, the parties shall be deemed to have waived any and all unmet or unsatisfied conditions (other than a false Express Representation) subject to the provisions of Sections 5.4 and 10.2 hereof.
8.1 Closing Date. The consummation of the transactions contemplated hereby (the Closing) shall be
conducted by delivery of documents and funds in escrow to Escrow Agent and shall be on December 21, 2012 (Designated Closing Date); TIME BEING STRICTLY OF THE ESSENCE. The date that the Closing occurs hereunder, as such date may be
extended in accordance with this Agreement, is referred to herein as the Closing Date. Purchaser and Seller agree to finalize and execute all documents necessary for the consummation of the transaction contemplated herein,
including, but not limited to, the Settlement Statement (as defined in Section 220.127.116.11), and to deliver all such documents to the Escrow Agent in escrow not later than 5:00 p.m. Pacific time on the Business Day immediately preceding the Closing
Date to ensure the orderly and timely close of escrow and disbursement of all funds necessary for Closing by not later than 11:00 a.m. Pacific time on the Closing Date. To reduce the risk of any delays, the parties agree to make good faith efforts
to deliver as many closing documents as possible into escrow five (5) Business Days in advance of the Closing Date. Notwithstanding the foregoing or anything herein to the contrary, in no event may the Closing Date be extended beyond the
Designated Closing Date for any reason, unless pursuant to the exercise of a right of Seller or Purchaser hereunder, TIME BEING STRICTLY OF THE ESSENCE.
8.2 Sellers Obligations at the Closing. At the Closing, Seller will do, or cause to be done, the following: