The closing of title shall occur on the date and at the time and place in the State of New York as Sponsor shall designate to Purchaser on not less than thirty (30) days’ prior written notice. Sponsor shall have the right, from time to time, to adjourn such date and time for closing written notice to Purchaser. If adjourned, Sponsor shall fix a new date and time for title closing and shall give Purchaser not less than ten (10) business days’ prior written notice of the new scheduled date and time for closing. Purchaser may waive this thirty (30) day provision by initialing below.
I hereby waive the provision requiring thirty (30) days’ notice of closing __________
In the event that the closing of title does not occur on or before [Date], and such delay in closing is not the fault of Purchaser, then Purchaser shall have the right to cancel this Agreement and receive a return of the full down payment from Sponsor.
Additionally, notwithstanding any of the foregoing, Purchaser shall have a one-time right to a ten (10) day adjournment of the closing of title without any penalty or other additional fees, including, but not limited to, additional legal fees, provided that such adjournment is made at least seven (7) days prior to the initially scheduled closing of title.