Agreement Of Purchase And Sale (Page 18 of 30) in pdf

THE PROPERTY WITH ANY ENVIRONMENTAL PROTECTION, POLLUTION OR LAND USE

LAWS, RULES, REGULATIONS, ORDERS, REQUIREMENTS, OR COMMON LAW INCLUDING

THOSE PERTAINING TO SOLID WASTE, AS DEFINED BY THE U.S. ENVIRONMENTAL

PROTECTION AGENCY REGULATIONS AT 40 C.F.R., PART 261, OR THE DISPOSAL OR

EXISTENCE, IN OR ON THE PROPERTY, OF ANY HAZARDOUS SUBSTANCES, AS DEFINED

BY THE COMPREHENSIVE ENVIRONMENTAL RESPONSE COMPENSATION AND LIABILITY

ACT OF 1980, AS AMENDED, AND THE REGULATIONS PROMULGATED THEREUNDER

("CERCLA"). PURCHASER SHALL RELY SOLELY ON ITS OWN INVESTIGATION OF THE

PROPERTY AND NOT ON ANY INFORMATION PROVIDED OR TO BE PROVIDED BY SELLER

OR ITS AGENTS OR CONTRACTORS, EXCEPT AS EXPRESSLY PROVIDED IN THIS

AGREEMENT OR EXHIBITS OR UNDER ANY INSTRUMENT DELIVERED BY SELLER TO

PURCHASER OR ITS PERMITTED ASSIGNS AT CLOSING. SELLER SHALL NOT BE LIABLE

OR BOUND IN ANY MANNER BY ANY VERBAL OR WRITTEN STATEMENTS,

REPRESENTATIONS OR INFORMATION PERTAINING TO THE PROPERTY OR THE

OPERATION THEREOF, FURNISHED BY ANY PARTY PURPORTING TO ACT ON BEHALF OF

SELLER. EXCEPT TO THE EXTENT OF ANY BREACH OF ANY EXPRESS REPRESENTATION,

WARRANTY OR COVENANT OF SELLER UNDER THIS AGREEMENT OR UNDER ANY

INSTRUMENT DELIVERED BY SELLER TO PURCHASER OR ITS ASSIGNS AT CLOSING.

Except as expressly set forth in this Agreement, Purchaser has not relied and will not rely on, and Seller

has not made and is not liable for or bound by, any express or implied warranties, guarantees, statements,

representations or information pertaining to the Property or relating thereto (including specifically,

without limitation, Property information packages distributed with respect to the Property) made or

furnished by Seller or any real estate broker, agent, or third party representing or purporting to represent

Seller, to whomever made or given, directly or indirectly, orally or in writing. Purchaser represents that it

is a knowledgeable, experienced and sophisticated purchaser of real estate and that, except as expressly

set forth in this Agreement, it is relying solely on its own expertise and that of Purchaser’s consultants in

purchasing the Property and shall make an independent verification of the accuracy of any documents and

information provided by Seller. Purchaser will conduct such inspections and investigations of the

Property as Purchaser deems necessary, including, but not limited to, the physical and environmental

conditions thereof, and shall rely upon same. By failing to terminate this Agreement prior to the

expiration of the Inspection Period, Purchaser acknowledges that Seller has afforded Purchaser a full

opportunity to conduct such investigations of the Property as Purchaser deemed necessary to satisfy itself

as to the condition of the Property and the existence or non-existence or curative action to be taken with

respect to any Hazardous Materials on or discharged from the Property, and will rely solely upon same

and not upon any information provided by or on behalf of Seller or its agents or employees with respect

thereto, other than such representations, warranties and covenants of Seller as are expressly set forth in

this Agreement. Upon Closing, Purchaser shall assume the risk that adverse matters, including, but not

limited to, adverse physical or construction defects or adverse environmental, health or safety conditions,

may not have been revealed by Purchaser’s inspections and investigations.

Purchaser’s Initials _________

11.3

Seller Released from Liability. PURCHASER ACKNOWLEDGES THAT IT WILL

HAVE THE OPPORTUNITY TO INSPECT THE PROPERTY DURING THE INSPECTION PERIOD,

AND DURING SUCH PERIOD, OBSERVE ITS PHYSICAL CHARACTERISTICS AND EXISTING

CONDITIONS AND THE OPPORTUNITY TO CONDUCT SUCH INVESTIGATION AND STUDY

ON AND OF THE PROPERTY AND ADJACENT AREAS AS PURCHASER DEEMS NECESSARY,

AND PURCHASER HEREBY FOREVER RELEASES AND DISCHARGES SELLER FROM ALL

RESPONSIBILITY AND LIABILITY, INCLUDING WITHOUT LIMITATION, LIABILITIES

UNDER CERCLA, OTHER ENVIRONMENTAL LAWS, AND THE COMMON LAW, REGARDING

THE CONDITION (INCLUDING, BUT NOT LIMITED TO, THE PRESENCE ON, UNDER,

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H-Earnest Money Contract

Agreement Of Purchase And Sale Page 18

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