|
Hazardous Substances (as defined in Paragraph 8 hereof) in, on, about or from the Real
<br />Property.
<br />
<br />c. Copies of any conditional use permit, variance, and any other permits or
<br />authorizations issued by any governmental body having jurisdiction in connection with any
<br />state of facts or activity presently existing or being carried on with respect to the Real
<br />Property.
<br />
<br />d. Copies of all leases or other occupancy agreements (“Existing Leases”) that
<br />are in effect with respect to the Real Property.
<br />
<br />6. Inspection. Purchaser, its agents, employees, and designees, are hereby granted the
<br />right, at all reasonable times acceptable to Seller and Purchaser, to enter upon and survey, inspect,
<br />analyze, and test the Real Property for all reasonable purposes, including, without limitation, the
<br />presence of hazardous substances. Purchaser shall be permitted to conduct soil borings on the Real
<br />Property and all other customary testing on the Real Property. Purchaser shall pay for the cost of
<br />all surveys, investigations, analyses, and tests which are ordered by Purchaser. Purchaser shall be
<br />responsible, at Purchaser’s sole expense, to repair any damage resulting from Purchaser’s
<br />performance of such tests or inspections. Purchaser hereby agrees to indemnify, defend, and hold
<br />Seller harmless from any claims, damage, costs, and liability, including, without limitation,
<br />reasonable attorneys’ fees, resulting from the entering upon the Real Property or the performing
<br />of any of the analyses, tests or inspections referred to in this Paragraph. Nothing contained herein
<br />shall be deemed to require Purchaser to hold Seller harmless from any liability for discovered
<br />conditions. Purchaser’s indemnity obligations under this Paragraph shall survive the closing or
<br />termination of this Agreement.
<br />
<br />7. “AS IS, WHERE IS.” Purchaser acknowledges that it has inspected or has had the
<br />opportunity to inspect the Real Property and agrees to accept the Real Property “AS IS” with no
<br />right of set off or reduction in the Purchase Price. Such sale shall be without representation of
<br />warranties, express or implied, either oral or written, made by the Seller or any official, employee
<br />or agent of the Seller with respect to the physical condition of the Real Property, including but not
<br />limited to, the existence or absence of petroleum, hazardous substances, pollutants or contaminants
<br />in, on, or under, or affecting the Real Property or with respect to the compliance of the Real
<br />Property or its operation with any laws, ordinances, or regulations of any government or other
<br />body, except as stated above. Purchaser acknowledges and agrees that Seller has not made and
<br />does not make any representations, warranties, or covenants of any kind or character whatsoever,
<br />whether expressed or implied, with respect to warranty of income potential, operating expenses,
<br />uses, habitability, tenant ability, or suitability for any purpose, merchantability, or fitness of the
<br />Real Property for a particular purpose, all of which warranties Seller hereby expressly disclaims,
<br />except as stated above. Purchaser is relying entirely upon information and knowledge obtained
<br />from the Purchaser’s own investigation, experience and knowledge obtained from the Purchaser’s
<br />own investigation, experience, or personal inspection of the Real Property. Purchaser expressly
<br />assumes, at closing, all environmental and other liabilities with respect to the Real Property and
<br />releases and indemnifies Seller from same, whether such liability is imposed by statute or derived
<br />from common law including, but not limited to, liabilities arising under the Comprehensive
<br />Environmental Response, Compensation and Liability Act (“CERCLA”), the Hazardous and Solid
<br />Waste Amendments Act, the Resource Conservation and Recovery Act (“RCRA”), the federal
<br />
<br />EL185\\71\\796863.v7
<br />3
<br />
|