Purchaser Request for Extension of Performance Dates Under Purchase and Sale Contract Due to a Public Crisis (Commercial Property)

This legal template pertains to a situation where a purchaser of a commercial property in the United States is seeking an extension of the performance dates outlined in the purchase and sale contract due to a public crisis.

A public crisis could refer to a wide range of unprecedented events that significantly impact the normal course of business, such as natural disasters, pandemics, civil unrest, or government-imposed restrictions. In such cases, the purchaser may face challenges in meeting their obligations and completing the purchase within the specified timeframe.

This template provides a formal request document that the purchaser can use to officially notify the seller of their need for an extension. It outlines the key details of the purchase and sale contract, including the original performance dates, and cites the specific public crisis that has caused the purchaser's inability to fulfill the contractual obligations within the agreed-upon timeline.

The document generally aims to demonstrate the purchaser's good faith and willingness to proceed with the transaction while acknowledging the extraordinary circumstances that have arisen. It may provide supporting evidence or legal grounds justifying the request for an extension under the current circumstances.

The template may also include provisions addressing any associated costs or expenses incurred by the purchaser as a result of the delay, as well as any revised closing dates or alternative arrangements proposed by the purchaser to accommodate the extension. Additionally, it typically outlines the consequences of a denied request and potential remedies available to both parties in the event of a disagreement or failure to reach an amicable resolution.

Overall, this legal template addresses a specific scenario in which a purchaser of commercial property requests an extension of performance dates due to an ongoing public crisis, in order to ensure compliance with USA law and promote transparency and fairness between the contracting parties.