1.0 Subject to Satisfactory Bore Test
1.1 This Contract is subject to and conditional upon the Buyers being satisfied in their absolute discretion with the results of a bore test to be conducted by the Buyer’s at the Buyer’s expense at the Property on or before 14 days from the Contract Date (the Bore Test Date);
1.2 The Buyer must give notice to the Seller that:-
- a) The results of the bore test pursuant to Special Condition 1.1 above are not satisfactory and the Buyer terminates the Contract; or
- b) Special Condition 1.1 has been satisfied or waived by the Buyer.
1.3 The Seller may terminate this Contract by notice to the Buyer if notice is not given under Special Condition 1.2 by 5:00pm on the Bore Test Date. This is the Seller’s only remedy for the Buyer’s failure to give notice.
1.4 The Seller’s right under Special Condition 1.3 is subject to the Buyer’s continuing right to give written notice to the Seller of satisfaction, termination or waiver pursuant to Special Condition 1.2.
1.5 In the event that this Contract is terminated by either the Buyer or Seller pursuant to this Special Condition then the Deposit is to be refunded to the Buyer in full without deduction.