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<br />g9601, et seq., and substances defined as "hazardous wastes," "hazardous substances," <br />"pollutants, or contaminants" as defined in the Minnesota Environmental Response and <br />Liability Act, Minnesota Statutes, S 115B.02. The term "hazardous substance" must also <br />include asbestos, polychlorinated biphenyls, petroleum, including crude oil or any <br />fraction thereof, petroleum products, heating oil, natural gas, natural gas liquids, liquified <br />natural gas, or synthetic gas useable for fuel (or mixtures of natural gas and synthetic <br />gas). <br /> <br />If, at any time prior to the Date of Closing, Seller acquires actual knowledge of events, <br />circumstances or facts which render the representations set forth in this Section 15 inaccurate in <br />any respect, Seller must immediately notify Buyer, in writing. Buyer's acceptance of the deed <br />described in Section 9 from Seller and payment of the Purchase Price to Seller with knowledge <br />that one or more of the matters set forth above are not as represented constitutes Buyer's waiver <br />or release of any claims due to such misrepresentation. <br /> <br />16. Buver's Representations. Buyer hereby represents to Seller as follows: <br /> <br />a. The individuals executing this Agreement on behalf of Buyer represent <br />and warrant that they have the authority to execute this Agreement on behalf of Buyer <br />and to bind Buyer. Buyer represents that Buyer has the full and complete authority to <br />enter into this Agreement and to purchase the Property. <br /> <br />b. Buyer represents that Buyer has engaged C. B. Richard Ellis ("Buyer's <br />Agent") to act as Buyer's real estate agent in connection with this transaction. Buyer <br />represents that Buyer has not engaged anyone else to act as Buyer's agent in this <br />transaction. <br /> <br />17. Buver's Inspection and "AS IS" Sale. At all times prior to the Date of Closing, <br />Buyer and its agents have the right, upon reasonable notice to Seller, to go upon the Property to <br />inspect the Property and to determine the condition of the Property including, specifically, the <br />presence or absence of Hazardous Substances, in, on, or about the Property. Buyer agrees to <br />indemnify and defend Seller from and to hold Seller harmless against any and all claims, causes <br />of action or expenses, including attorneys fees, relating to or arising from Buyer's or Buyer's <br />agents or contractors presence on the Property prior to the Date of Closing. Buyer agrees to <br />repair any damage to the Property caused by such inspections and to return the Property to <br />substantially the same condition as existed prior to Buyer's inspection. BUYER <br />ACKNOWLEDGES THAT BUYER IS PURCHASING THE PROPERTY IN RELIANCE <br />ON THE REPRESENTATIONS OF SELLER SET FORTH IN SECTION 15; ON <br />BUYER'S INSPECTION OF THE PROPERTY PURSUANT TO TillS SECTION 17; <br />Al\1]) ON BUYER'S JUDGMENT REGARDING THE SUFFICIENCY OF SUCH <br />INSPECTIONS. BUYER IS NOT RELYING ON ANY WRITTEN OR ORAL <br />REPRESENTATIONS, WARRANTIES OR STATEMENTS THAT SELLER OR <br />SELLER'S AGENTS HAVE MADE EXCEPT FOR THE REPRESENTATIONS SET. <br />FORTH IN SECTION 15 OF TillS AGREEMENT. SUBJECT TO BUYER'S RIGHT TO <br />TERMINATE TillS AGREEMENT PURSUANT TO SECTION 18, BUYER IS <br />PURCHASING THE PROPERTY IN "AS IS" CONDITION RELYING ONLY ON THE <br />REPRESENTATIONS SET FORTH IN SECTION 15. <br /> <br />1787559vl <br /> <br />8 <br />