Thanks for all your replies! Here is the full paragraph. It only give 3 options to the seller and to term doesn't seem to be one of them.
"233 (C) ENVIRONMENTAL DEFECT. For purposes of this Paragraph an environmental defect is a
234 toxic or hazardous substance at a level and condition found above those set as acceptable by
235 the United States Environmental Protection Agency, the Illinois Environmental Protection
236 Agency, the Illinois EmergencyManagement Agency or applicable local governmental
237 agency. If the stated defect is any toxic or hazardous substance, then Seller, at Seller’s option
238 and expense, may have the substance remediated, removed, or reduced to an acceptable
239 level prior to Closing. Buyer, at Buyer’s option and expense, is responsible for re-inspection
240 of the remediation and proof of re-inspection by the same inspector(s) as previously used or
241 by similarly qualified inspector(s). Buyer, at Buyer’s sole discretion, may accept theplan of
242 remediation, terminate this Contract, or allow the Seller to escrow one and one half (1 ½)
243 times the amount of the bid or written estimate, as determined by the Buyer, of such
244 environmental repair(s)at Closing. In the event either Seller or Buyer elects to terminate the
245 Contract due to an environmental defect as provided herein, the non-terminating Party shall
246 be obligated to sign the document terminating this Contract, and the Earnest Money shall be
247 refunded to Buyer. "
