Real Estate Inspection Contingency

14. REAL ESTATE INSPECTION CONTINGENCY: For purposes of this clause, time is of the essence. Buyer has the option to have the Real Estate inspected at Buyer’s expense. If the buyer obtains an inspection of the Real Estate, on or before twelve (12) calendar days (Inspection Period) following written Contract acceptance, and if the inspection reveals a material defect(s) and Buyer wants to request corrections, Buyer shall deliver written notification of the material defect(s) along with the relevant portion(s) of the inspection report(s) and the corrections desired, to Seller within the Inspection Period. Upon delivery of the notice, Buyer and Seller shall have five (5) calendar days (Settlement Period) to negotiate to reach a written agreement in settlement of the condition of the Real Estate. If settlement is not reached within the Settlement Period, then this Contract shall be null and void. For purposes of this paragraph, "material defects" do not include minor, routine maintenance items nor functions unique to houses of such an age.