Waiver Agreement for Purchase and Sale
This Waiver Agreement ("Agreement") is made and entered into as of January 15, 2050, by and between:
Buyer:
John A. Doe
123 Maple Street
Springfield, IL 62701
("Buyer")
Seller:
[Your Name]
456 Oak Avenue
Springfield, IL 62702
("Seller")
Collectively referred to as the "Parties."
WHEREAS, the Parties entered into a Purchase and Sale Agreement dated December 1, 2049 ("Purchase Agreement") regarding the sale of the residential property located at 789 Pine Street, Springfield, IL 62703, including the land and all associated structures; and
WHEREAS, the Buyer wishes to waive certain rights and conditions outlined in the Purchase Agreement.
NOW, THEREFORE, for good and valuable consideration, the Parties agree as follows:
1. Waiver of Rights and Conditions
The Buyer hereby waives the following rights, conditions, or obligations specified in the Purchase Agreement:
The right to request repairs or maintenance to the property before closing.
The right to a final walkthrough inspection of the property before the closing date.
The right to a return policy or refund if any post-purchase issues arise within 30 days of closing.
2. Effect of Waiver
The waiver of the above rights and conditions does not affect the validity or enforceability of the remaining terms of the Purchase Agreement, which shall remain in full force and effect.
3. Acknowledgment of Understanding
The Buyer acknowledges that they fully understand the consequences of this waiver and voluntarily and knowingly waive the listed rights and conditions under the Purchase Agreement.
4. No Further Modifications
Except as expressly provided herein, no other modifications, amendments, or waivers of the Purchase Agreement shall be valid unless made in writing and signed by both Parties.
5. Governing Law
This Agreement shall be governed by, and construed by, the laws of the State of Illinois.
6. Execution
This Agreement is executed by the Parties as of the date first written above.
IN WITNESS WHEREOF, the Parties hereto have executed this Waiver Agreement on the date first written above.
Buyer:
Name: John A. Doe
Date: January 15, 2050
Seller:
Name: [Your Name]
Date: January 15, 2050
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