Agreement Of Purchase And Sale Page 28
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30PROPERTY, OR (v) ANY OTHER MATTER WITH RESPECT TO THE PROPERTY, AND (B)
NEITHER GRANTOR NOR ANY OF ITS AGENTS HAVE MADE, AND SPECIFICALLY NEGATE
AND DISCLAIM, ANY REPRESENTATIONS OR WARRANTIES REGARDING COMPLIANCE OF
THE PROPERTY WITH ANY ENVIRONMENTAL PROTECTION, POLLUTION OR LAND USE
LAWS, RULES, REGULATIONS, ORDERS, REQUIREMENTS, OR REGARDING LIABILITIES
UNDER COMMON LAW, INCLUDING THOSE PERTAINING TO HAZARDOUS MATERIALS, AS
DEFINED BELOW, OR THE DISPOSAL OR EXISTENCE IN, ON, OR UNDER THE PROPERTY,
OR ANY ADJACENT PROPERTIES, OF ANY HAZARDOUS MATERIALS.
GRANTEE
ACKNOWLEDGES THAT GRANTOR HAS AFFORDED GRANTEE A FULL OPPORTUNITY TO
CONDUCT SUCH INVESTIGATIONS OF THE PROPERTY AS GRANTEE DEEMS NECESSARY
TO SATISFY GRANTEE AS TO THE CONDITION OF THE PROPERTY AND THE EXISTENCE
OR NON EXISTENCE OF, OR THE NECESSITY FOR CURATIVE ACTION TO BE TAKEN WITH
RESPECT TO, ANY HAZARDOUS MATERIALS ON OR DISCHARGED FROM THE PROPERTY.
GRANTEE ASSUMES 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 GRANTEE’S
INSPECTIONS AND INVESTIGATIONS.
GRANTEE HEREBY FOREVER RELEASES AND DISCHARGES GRANTOR, GRANTOR'S
PARTNERS, PREDECESSORS AND SUCCESSORS FROM ALL RESPONSIBILITY AND
LIABILITY
(INCLUDING
WITHOUT
LIMITATION,
LIABILITIES
UNDER
CERCLA),
REGARDING THE CONDITION, VALUATION, SALABILITY OR UTILITY OF THE PROPERTY,
OR ITS SUITABILITY FOR ANY PURPOSE WHATSOEVER (INCLUDING, BUT NOT LIMITED
TO, WITH RESPECT TO (I) THE PRESENCE IN THE SOIL, AIR, STRUCTURES AND SURFACE
AND SUBSURFACE WATERS OF HAZARDOUS MATERIALS, AND (II) ANY STRUCTURAL
CONDITIONS, GEOLOGIC CONDITIONS, SUBSURFACE SOIL AND WATER CONDITIONS).
GRANTEE FURTHER HEREBY WAIVES ANY AND ALL OBJECTIONS, COMPLAINTS, CAUSES
OF ACTION, RIGHTS AND REMEDIES (INCLUDING, BUT NOT LIMITED TO, FEDERAL,
STATE AND LOCAL STATUTORY AND COMMON LAW BASED ACTIONS, AND ANY
PRIVATE RIGHT OF ACTION UNDER ANY FEDERAL, STATE OR LOCAL LAWS,
REGULATIONS OR GUIDELINES TO WHICH THE PROPERTY IS OR MAY BE SUBJECT,
INCLUDING,
BUT
NOT
LIMITED
TO,
CERCLA)
CONCERNING
THE
PHYSICAL
CHARACTERISTICS AND ANY EXISTING CONDITIONS OF THE PROPERTY INCLUDING,
WITHOUT LIMITATION, ANY AND ALL RIGHTS GRANTEE MAY NOW HAVE OR
HEREAFTER HAVE TO SEEK CONTRIBUTION OR COST RECOVERY FROM GRANTOR,
GRANTOR'S PARTNERS, PREDECESSORS AND SUCCESSORS UNDER CERCLA, AS THE
SAME MAY BE FURTHER AMENDED AND REPLACED BY ANY SIMILAR LAW, ORDINANCE,
RULE, ORDER, OR REGULATION. GRANTEE HEREBY ASSUMES THE RISK OF CHANGES IN
APPLICABLE LAWS AND REGULATIONS RELATING TO PAST, PRESENT AND FUTURE
ENVIRONMENTAL CONDITIONS ON THE PROPERTY.
For purposes hereof, “Hazardous Materials” means “Hazardous Substance,” “Pollutant or Contaminant,”
and “Petroleum” and “Natural Gas Liquids,” as those terms are defined or used in Section 101 of
CERCLA, and any other substances regulated, or that in the future become regulated, under any federal,
state, or local law, including, without limitation, statues, ordinances, rules, and orders, because of their
effect or potential effect on public health or the environment, including, without limitation, PCBs, lead
paint, asbestos, urea formaldehyde, radioactive materials, putrescible materials, infectious materials, and
biological matter, including, without limitation, mold, mildew and fungi.
TO HAVE AND TO HOLD the Property, together with all and singular the rights and appurtenances
thereunto in anywise belonging, unto Grantee, its successors and assigns, forever; and Grantor does
H-Earnest Money Contract
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