3.5. SR 07-18-2005 - Laserfiche WebLink

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Liability Act, Minnesota Statutes, ~115B.02. The term "hazardous substance" must also include asbestos, polychlorinated biphenyls, petroleum, including crude oil or any fraction thereof, petroleum products, heating oil, natural gas, natural gas liquids, liquified natural gas, or synthetic gas useable for fuel (or mixtures of natural gas and synthetic gas). If, at any time prior to the Date of Closing, Seller acquires actual knowledge of events, circumstances or facts which render the representations set forth in this Section 15 inaccurate in any respect, Seller must immediately notify Buyer, in writing. Buyer's acceptance of the deed described in Section 9 from Seller and payment of the Purchase Price to Seller with knowledge that one or more of the matters set forth above are not as represented constitutes Buyer's waiver or release of any claims due to such misrepresentation. 16. Buver's Representations. Buyer hereby represents to Seller as follows: a. The individuals executing this Agreement on behalf of Buyer represent and warrant that they have the authority to execute this Agreement on behalf of Buyer and to bind Buyer. Buyer represents that Buyer has the full and complete authority to enter into this Agreement and to purchase the Property. b. Buyer represents that Buyer has engaged C. B. Richard Ellis ("Buyer's Agent") to act as Buyer's real estate agent in connection with this transaction. Buyer represents that Buyer has not engaged anyone else to actas Buyer's agent in this transaction. 17. Buver's Inspection and "AS IS" Sale. At all times prior to the Date of Closing, Buyer and its agents have the right, upon reasonable notice to Seller, to go upon the Property to inspect the Property and to determine the condition of the Property including, specifically, the presence or absence of Hazardous Substances, in, on, or about the Property. Buyer agrees to indemnify and defend Seller from and to hold Seller harmless against any and all claims, causes of action or expenses, including attorneys fees, relating to or arising from Buyer's or Buyer's agents or contractors presence on the Property prior to the Date of Closing. Buyer agrees to repair any damage to the Property caused by such inspections and to return the Property to substantially the same condition as existed prior to Buyer's inspection. BUYER ACKNOWLEDGES THAT BUYER IS PURCHASING THE PROPERTY IN RELIANCE ON THE REPRESENTATIONS OF SELLER SET FORTH IN SECTION 15; ON BUYER'S INSPECTION OF THE PROPERTY PURSUANT TO THIS SECTION 17; AND ON BUYER'S JUDGMENT REGARDING THE SUFFICIENCY OF SUCH INSPECTIONS. BUYER IS NOT RELYING ON ANY WRITTEN OR ORAL REPRESENTA TIONS, WARRANTIES OR STATEMENTS THAT SELLER OR SELLER'S AGENTS HA VE MADE EXCEPT FOR THE REPRESENTATIONS SET FORTH IN SECTION 15 OF THIS AGREEMENT. SUBJECT TO BUYER'S RIGHT TO TERMINATE TillS AGREEMENT PURSUANT TO SECTION 18, BUYER IS PURCHASING THE PROPERTY IN "AS IS" CONDITION RELYING ONLY ON THEcREPRESENTA TIONS SET FORTH IN SECTION 15. 1787623vl 8