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<br />investigation, threatened against the HRA with respect to the Property or any portion
<br />of the Property.
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<br />9.6. Wells. No wells exist on the Property.
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<br />9.7. Sewage Treatment Systems. No sewage treatment system exists on the Property.
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<br />9.8. Title. The HRA owns fee title to the Property.
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<br />The HRA’s representations shall be true, accurate and complete as of the date of this Agreement,
<br />in all material respects and, as modified by any notices given by the HRA to the Buyer, on the
<br />Closing Date in all material respects. If any time prior to Closing, the Buyer shall determine that
<br />any representation herein made by the HRA was not true in all material respects when made, the
<br />Buyer’s sole remedy shall be to terminate this Agreement by giving notice to the HRA and seeking
<br />any applicable remedies for breach from the HRA. The Earnest Money shall be returned to the
<br />Buyer.
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<br />Notwithstanding the above paragraph, all representations and warranties shall terminate on the
<br />Closing Date. Any claim by the Buyer not made by written notice delivered to the HRA before the
<br />date the representation or warranty terminates shall be deemed waived.
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<br />10. “AS IS, WHERE IS.” The Buyer acknowledges that the Buyer has inspected or has had
<br />the opportunity to inspect the Property and agrees to accept the Property “AS IS” with no right of
<br />set off or reduction in the Purchase Price. Such sale shall be without representation of warranties,
<br />express or implied, either oral or written, made by the HRA or any official, employee or agent of
<br />the HRA with respect to the physical condition of the Property, including but not limited to, the
<br />existence or absence of petroleum, hazardous substances, pollutants or contaminants in, on, or
<br />under, or affecting the Property or with respect to the compliance of the Property or its operation
<br />with any laws, ordinances, or regulations of any government or other body, except as stated above.
<br />The Buyer acknowledges and agrees that the HRA has not made and does not make any
<br />representations, warranties, or covenants of any kind or character whatsoever, whether expressed
<br />or implied, with respect to warranty of income potential, operating expenses, uses, habitability,
<br />tenant ability, or suitability for any purpose, merchantability, or fitness of the Property for a
<br />particular purpose, all of which warranties HRA hereby expressly disclaims, except as stated above.
<br />The Buyer is relying entirely upon information and knowledge obtained from the Buyer’s own
<br />investigation, experience and knowledge obtained from the Buyer’s own investigation, experience,
<br />or personal inspection of the Property. The Buyer expressly assumes, at closing, all environmental
<br />and other liabilities with respect to the Property and releases and indemnifies the HRA from same,
<br />whether such liability is imposed by statute or derived from common law including, but not limited
<br />to, liabilities arising under the Comprehensive Environmental Response, Compensation and
<br />Liability Act (“CERCLA”), the Hazardous and Solid Waste Amendments Act, the Resource
<br />Conservation and Recovery Act (“RCRA”), the federal Water Pollution Control Act, the Safe
<br />Drinking Water Act, the Toxic Substances Act, the Superfund Amendments and Reauthorization
<br />Act, the Toxic Substances Control Act and the Hazardous Materials Transportation Act, all as
<br />amended, and all other comparable federal, state or local environmental conservation or protection
<br />laws, rules or regulations. The foregoing assumption and release shall survive Closing. All
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<br />EL185-13-882695.v2
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