3. Limar’s failure to waive contractual conditions under the due diligence provision may constitute a failure of a condition precedent, excusing Bank Building Partnership from performance under the purchase agreement. However, paragraph 7.3 of the contract provides that Bank Building Partnership would furnish a current property survey and other documentation to facilitate Limar’s due diligence review. Limar argues that Bank Building Partnership defaulted under its obligation to furnish the necessary reports, but Bank Building Partnership disputes this contention. Genuine issues of material fact may exist whether the condition of Limar’s waiver is excused by Bank Building Partnership’s alleged failure to cooperate and whether that alleged default by Bank Building Partnership constitutes a material or a minor breach.

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Original filed September, 1996 (approx.)	File Size: 17 Kbytes