As-Is Purchase. BUYER IS PURCHASING THE PROPERTY “AS IS WHERE IS” IN ITS PRESENT CONDITION. BUYER HAS THE OPPORTUNITY TO INSPECT THE PROPERTY AND DOCUMENTATION IN SELLER’S POSSESSION AS PROVIDED HEREIN. EXCEPT AS EXPRESSLY SET FORTH IN SECTION 9 ABOVE AND IN THE DEED, SELLER MAKES NO REPRESENTATIONS OR WARRANTIES OR COVENANTS, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED REPRESENTATIONS OR WARRANTIES OR COVENANTS WITH RESPECT TO: (A) THE TITLE TO OR CONDITION OF THE PROPERTY OR ANY STRUCTURE OR IMPROVEMENTS THEREON, ACCESS THERETO OR THE SUITABILITY OF THE PROPERTY FOR HABITATION OR FOR BUYER’S INTENDED USE; (B) THE DEVELOPMENT OF THE PROPERTY OR ANY APPLICABLE BUILDING, ZONING OR FIRE LAWS OR REGULATIONS OR WITH RESPECT TO COMPLIANCE THEREWITH OR WITH RESPECT TO THE EXISTENCE OF OR COMPLIANCE WITH ANY REQUIRED PERMITS, IF ANY, OF ANY GOVERNMENTAL AGENCY; (C) THE AVAILABILITY OR EXISTENCE OF ANY WATER, SEWER OR UTILITIES, ANY RIGHTS THERETO, OR ANY WATER, SEWER OR UTILITY DISTRICTS; (D) ACCESS TO ANY PUBLIC OR PRIVATE SANITARY SEWER OR DRAINAGE SYSTEM; (E) THE PRESENCE OF ANY HAZARDOUS SUBSTANCES AT THE PROPERTY OR IN ANY IMPROVEMENTS ON THE PROPERTY, INCLUDING WITHOUT LIMITATION ASBESTOS OR UREA-FORMALDEHYDE, OR THE PRESENCE OF ANY ENVIRONMENTALLY HAZARDOUS WASTES OR MATERIALS ON OR UNDER THE PROPERTY, OR (F) THE CONDITION OR FUTURE DEVELOPMENT ANY OTHER PROPERTY. BUYER UNCONDITIONALLY RELEASES AND FOREVER DISCHARGES SELLER AND ITS MEMBERS, MANAGERS, ATTORNEYS AND AGENTS FROM AND AGAINST ANY AND ALL CLAIMS, CAUSES OF ACTION, JUDGMENTS, DAMAGES, LOSSES, PENALTIES, FINES, LIABILITIES (INCLUDING STRICT LIABILITY), COSTS AND EXPENSES OF ANY KIND OR NATURE, BOTH KNOWN OR UNKNOWN, PRESENT AND FUTURE, FOR ANY MATTER RELATING DIRECTLY OR INDIRECTLY TO THE PROPERTY, INCLUDING THE TITLE TO, CONDITION OF OR DAMAGE TO THE PROPERTY, AND REGARDLESS OF FAULT OR NEGLIGENCE OF SELLER, EXCEPT FOR A MATERIAL BREACH OF SELLER’S REPRESENTATIONS AND WARRANTIES SET FORTH IN SECTION 9.1 above. to the FULL extent permitted by law, Buyer hereby agrees, represents and warrants that Buyer realizes and acknowledges that factual matters now unknown to it may have given or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses, and expenses which are presently unknown, unanticipated and unsuspected, and Buyer further agrees, represents and warrants that the waivers and releases herein have been negotiated and agreed upon IN light of that realization. The provisions of this paragraph will be deemed remade at the Closing and will survive thereafter. Furthermore, and without limiting the foregoing, Buyer hereby expressly waives and relinquishes any and all rights and remedies Buyer may now or hereafter have against Seller under any statute, the common law, whether known or unknown, with respect to any past, present or future presence or existence of hazardous materials on, under or about the Property or with respect to any past, present or future violations of any rules, regulations or laws, now or hereafter enacted, regulating or governing the use, handling, storage or disposal of hazardous materials, including, without limitation, (i) any and all rights Buyer may now or hereafter have to seek contribution from Seller under Section 113(f)(i) of the Comprehensive Environmental Response Compensation and Liability Act of 1980 (“CERCLA”), as amended by the Superfund Amendments and Reauthorization Act of 1986 (42 U.S.C.A. 9613), as the same may be further amended or replaced by any similar law, rule or regulation; (ii) any and all rights Buyer may now or hereafter have against Seller under the Washington Model Toxics Control Act or other Washington rules, regulations or laws relating to hazardous materials, as the same may be further amended or replaced by any similar law, rule or regulation; and (iii) any and all claims, whether know or unknown, now or hereafter existing, with respect to the Property under Section 107 of CERCLA (42 U.S.C.A. 9607). The waivers and releases by Buyer herein contained will survive the Closing and will not be deemed merged into the deed from Seller to Buyer
Appears in 1 contract
As-Is Purchase. (a) BUYER IS PURCHASING ACKNOWLEDGES AND AGREES THAT UPON THE PROPERTY CLOSING, LENDER WILL SELL AND CONVEY TO BUYER, AND BUYER WILL ACCEPT THE ASSETS, “AS IS, WHERE IS, WITH ALL FAULTS.” BUYER FURTHER ACKNOWLEDGES AND AGREES THAT THERE ARE NO ORAL AGREEMENTS OR ORAL WARRANTIES OR REPRESENTATIONS COLLATERAL TO OR AFFECTING LENDER, OWNER, OWNER’S AFFILIATES OR ANY OTHER PERSON. NEITHER LENDER NOR OWNER IS LIABLE OR BOUND IN ANY MANNER BY ANY ORAL OR WRITTEN STATEMENTS, REPRESENTATIONS OR INFORMATION PERTAINING TO THE ASSETS FURNISHED BY ANY REAL ESTATE BROKER, AGENT, EMPLOYEE OR OTHER PERSON (TOGETHER WITH OWNER AND OWNER’S AFFILIATES, THE “OWNER PARTIES”), UNLESS THE SAME ARE SPECIFICALLY SET FORTH OR REFERRED TO HEREIN. BUYER ACKNOWLEDGES THAT THE PURCHASE PRICE REFLECTS THE “AS IS, WHERE IS” NATURE OF THIS SALE AND ANY FAULTS, LIABILITIES, DEFECTS OR OTHER ADVERSE MATTERS THAT MAY BE ASSOCIATED WITH THE ASSETS. BUYER, WITH BUYER’S COUNSEL, HAS FULLY REVIEWED THE DISCLAIMERS AND WAIVERS SET FORTH IN ITS PRESENT CONDITION. THIS AGREEMENT, UNDERSTANDS THE SIGNIFICANCE OF EACH AND AGREES THAT THE DISCLAIMERS AND OTHER AGREEMENTS SET FORTH HEREIN ARE AN INTEGRAL PART OF THIS AGREEMENT AND THAT LENDER WOULD NOT HAVE AGREED TO SELL THE ASSETS TO BUYER FOR THE PURCHASE PRICE WITHOUT THE DISCLAIMERS AND OTHER AGREEMENTS SET FORTH IN THIS AGREEMENT.
(b) OTHER THAN THE MATTERS REPRESENTED IN SECTION 1.4 AND SECTION 5 HEREOF AND IN ANY INSTRUMENT EXECUTED AND DELIVERED BY LENDER OR OWNER AT CLOSING, BY WHICH ALL OF THE PROVISIONS OF THIS AGREEMENT ARE LIMITED, BUYER HAS NOT RELIED UPON AND WILL NOT RELY UPON, EITHER DIRECTLY OR INDIRECTLY, ANY REPRESENTATION OR WARRANTY OF THE OPPORTUNITY TO INSPECT THE PROPERTY OWNER PARTIES, AND DOCUMENTATION BUYER HEREBY ACKNOWLEDGES THAT NO SUCH REPRESENTATIONS OR WARRANTIES HAVE BEEN MADE OTHER THAN AS EXPRESSLY SET FORTH IN SELLER’S POSSESSION AS PROVIDED HEREINTHIS AGREEMENT. EXCEPT AS EXPRESSLY SET FORTH IN SECTION 9 ABOVE THIS AGREEMENT, LENDER AND IN OWNER EACH SPECIFICALLY DISCLAIMS, AND NEITHER THE DEEDOWNER PARTIES NOR ANY OTHER PERSON IS MAKING, SELLER MAKES ANY REPRESENTATION, WARRANTY OR ASSURANCE WHATSOEVER TO BUYER, AND NO REPRESENTATIONS OR WARRANTIES OR COVENANTSREPRESENTATIONS OF ANY KIND OR CHARACTER, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED REPRESENTATIONS OR WARRANTIES OR COVENANTS WITH RESPECT TO: (A) THE TITLE TO OR CONDITION OF THE PROPERTY OR ANY STRUCTURE OR IMPROVEMENTS THEREON, ACCESS THERETO ARE MADE BY LENDER OR THE SUITABILITY OF THE PROPERTY FOR HABITATION OWNER PARTIES OR FOR BUYER’S INTENDED USE; (B) THE DEVELOPMENT OF THE PROPERTY OR ANY APPLICABLE BUILDING, ZONING OR FIRE LAWS OR REGULATIONS OR WITH RESPECT TO COMPLIANCE THEREWITH OR RELIED UPON BY BUYER WITH RESPECT TO THE EXISTENCE STATUS OF TITLE TO OR COMPLIANCE WITH ANY REQUIRED PERMITSTHE MAINTENANCE, IF ANYREPAIR, CONDITION, DESIGN OR MARKETABILITY OF ANY GOVERNMENTAL AGENCY; (C) THE AVAILABILITY OR EXISTENCE OF ANY WATER, SEWER OR UTILITIES, ANY RIGHTS THERETOASSETS, OR ANY WATER, SEWER OR UTILITY DISTRICTS; (D) ACCESS TO ANY PUBLIC OR PRIVATE SANITARY SEWER OR DRAINAGE SYSTEM; (E) THE PRESENCE OF ANY HAZARDOUS SUBSTANCES AT THE PROPERTY OR IN ANY IMPROVEMENTS ON THE PROPERTYPORTION THEREOF, INCLUDING WITHOUT LIMITATION ASBESTOS (i) ANY IMPLIED OR UREA-FORMALDEHYDEEXPRESS WARRANTY OF MERCHANTABILITY, (ii) ANY IMPLIED OR THE PRESENCE EXPRESS WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE, (iii) ANY ENVIRONMENTALLY HAZARDOUS WASTES RIGHTS OF BUYER UNDER APPROPRIATE LAWS OR MATERIALS ON OR UNDER THE PROPERTYREGULATIONS TO CLAIM DIMINUTION OF CONSIDERATION, OR (Fiv) THE CONDITION OR FUTURE DEVELOPMENT ANY OTHER PROPERTY. CLAIM BY BUYER UNCONDITIONALLY RELEASES AND FOREVER DISCHARGES SELLER AND ITS MEMBERSFOR DAMAGES BECAUSE OF DEFECTS, MANAGERS, ATTORNEYS AND AGENTS FROM AND AGAINST ANY AND ALL CLAIMS, CAUSES OF ACTION, JUDGMENTS, DAMAGES, LOSSES, PENALTIES, FINES, LIABILITIES (INCLUDING STRICT LIABILITY), COSTS AND EXPENSES OF ANY KIND OR NATURE, BOTH WHETHER KNOWN OR UNKNOWN, PRESENT AND FUTURE, FOR ANY MATTER RELATING DIRECTLY OR INDIRECTLY WITH RESPECT TO THE PROPERTYASSETS, (v) THE FINANCIAL CONDITION OR PROSPECTS OF THE ASSETS AND (vi) THE COMPLIANCE OR LACK THEREOF OF THE REAL PROPERTY OR THE IMPROVEMENTS WITH GOVERNMENTAL REGULATIONS, INCLUDING ENVIRONMENTAL LAWS, NOW EXISTING OR HEREAFTER ENACTED OR PROMULGATED, IT BEING THE EXPRESS INTENTION OF LENDER, OWNER AND BUYER THAT, EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, THE ASSETS WILL BE CONVEYED AND TRANSFERRED TO BUYER IN THEIR PRESENT CONDITION AND STATE OF REPAIR, “AS IS, WHERE IS, WITH ALL FAULTS.”
(c) BUYER REPRESENTS THAT IT IS A KNOWLEDGEABLE, EXPERIENCED AND SOPHISTICATED BUYER OF REAL ESTATE, AND THAT IT IS RELYING SOLELY ON ITS OWN EXPERTISE AND THAT OF BUYER’S CONSULTANTS IN PURCHASING THE ASSETS. BUYER HAS BEEN GIVEN A SUFFICIENT OPPORTUNITY TO CONDUCT AND HAS CONDUCTED SUCH INSPECTIONS, INVESTIGATIONS AND OTHER INDEPENDENT EXAMINATIONS OF THE ASSETS AND RELATED MATTERS AS BUYER DEEMS NECESSARY, INCLUDING THE TITLE TO, CONDITION OF OR DAMAGE TO THE PROPERTYPHYSICAL AND ENVIRONMENTAL CONDITIONS THEREOF, AND REGARDLESS WILL RELY UPON SAME AND NOT UPON ANY STATEMENTS OF FAULT LENDER OR NEGLIGENCE THE OWNER PARTIES NOT EXPRESSLY STATED IN THIS AGREEMENT AND/OR IN ANY INSTRUMENT EXECUTED AND DELIVERED BY LENDER OR OWNER AT CLOSING. BUYER ACKNOWLEDGES THAT ALL INFORMATION OBTAINED BY BUYER WAS OBTAINED FROM A VARIETY OF SELLERSOURCES, AND NEITHER LENDER NOR OWNER WILL BE DEEMED TO HAVE REPRESENTED OR WARRANTED THE COMPLETENESS, TRUTH OR ACCURACY OF ANY OF THE DOCUMENTS OR OTHER INFORMATION FURNISHED OR OTHERWISE MADE AVAILABLE TO BUYER EXCEPT FOR A MATERIAL BREACH OF SELLER’S REPRESENTATIONS AND WARRANTIES AS EXPRESSLY SET FORTH IN THIS AGREEMENT. EXCEPT FOR THE NON-ASSUMED LIABILITIES, UPON THE CLOSING, BUYER WILL ASSUME THE RISK THAT ADVERSE MATTERS, INCLUDING ADVERSE PHYSICAL AND ENVIRONMENTAL CONDITIONS, MAY NOT HAVE BEEN REVEALED BY BUYER’S INSPECTIONS AND INVESTIGATIONS.
(d) THE TERMS AND CONDITIONS OF THIS SECTION 9.1 above. to the FULL extent permitted by law4 WILL EXPRESSLY SURVIVE THE TERMINATION OF THIS AGREEMENT OR THE CLOSING, Buyer hereby agreesAS THE CASE MAY BE, represents and warrants that Buyer realizes and acknowledges that factual matters now unknown to it may have given or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses, and expenses which are presently unknown, unanticipated and unsuspected, and Buyer further agrees, represents and warrants that the waivers and releases herein have been negotiated and agreed upon IN light of that realization. The provisions of this paragraph will be deemed remade at the Closing and will survive thereafter. Furthermore, and without limiting the foregoing, Buyer hereby expressly waives and relinquishes any and all rights and remedies Buyer may now or hereafter have against Seller under any statute, the common law, whether known or unknown, with respect to any past, present or future presence or existence of hazardous materials on, under or about the Property or with respect to any past, present or future violations of any rules, regulations or laws, now or hereafter enacted, regulating or governing the use, handling, storage or disposal of hazardous materials, including, without limitation, (i) any and all rights Buyer may now or hereafter have to seek contribution from Seller under Section 113(f)(i) of the Comprehensive Environmental Response Compensation and Liability Act of 1980 (“CERCLA”), as amended by the Superfund Amendments and Reauthorization Act of 1986 (42 U.S.C.A. 9613), as the same may be further amended or replaced by any similar law, rule or regulation; (ii) any and all rights Buyer may now or hereafter have against Seller under the Washington Model Toxics Control Act or other Washington rules, regulations or laws relating to hazardous materials, as the same may be further amended or replaced by any similar law, rule or regulation; and (iii) any and all claims, whether know or unknown, now or hereafter existing, with respect to the Property under Section 107 of CERCLA (42 U.S.C.A. 9607). The waivers and releases by Buyer herein contained will survive the Closing and will not be deemed merged into the deed from Seller to BuyerWILL NOT MERGE WITH THE PROVISIONS OF ANY CLOSING DOCUMENTS AND ARE HEREBY DEEMED INCORPORATED INTO THE CLOSING DOCUMENTS AS FULLY AS IF SET FORTH AT LENGTH THEREIN.
Appears in 1 contract
Samples: Hotel Asset Purchase Agreement (Playa Hotels & Resorts B.V.)
As-Is Purchase. BUYER IS PURCHASING EXCEPT FOR THE PROPERTY “AS IS WHERE IS” IN ITS PRESENT CONDITION. BUYER HAS THE OPPORTUNITY TO INSPECT THE PROPERTY REPRESENTATIONS AND DOCUMENTATION IN SELLER’S POSSESSION AS PROVIDED HEREIN. EXCEPT AS WARRANTIES OF SELLER EXPRESSLY SET FORTH IN SECTION 9 ABOVE 12 BELOW, THE PROPERTY IS BEING SOLD TO PURCHASER IN ITS “AS-IS” CONDITION WITHOUT ANY REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, SUBJECT TO THE FOLLOWING:
(a) PURCHASER ACKNOWLEDGES, REPRESENTS AND WARRANTS THAT, EXCEPT AS EXPRESSLY PROVIDED OTHERWISE IN SECTION 12 BELOW, IF AT ALL, ANY INFORMATION (“PROPERTY INFORMATION”) SUPPLIED OR MADE AVAILABLE BY SELLER OF ANY KIND OR CHARACTER WHATSOEVER, WHETHER WRITTEN OR ORAL, EXPRESS OR IMPLIED, OR IN THE DEEDFORM OF MAPS, SURVEYS, PLATS, SOIL REPORTS, ENGINEERING STUDIES, ENVIRONMENTAL STUDIES, INSPECTION REPORTS, PLANS, SPECIFICATIONS, OR ANY OTHER PROPERTY INFORMATION WHATSOEVER, WITHOUT EXCEPTION PERTAINING TO THE PROPERTY, ANY AND ALL RECORDS, RENT ROLLS, AND OTHER DOCUMENTS PERTAINING TO THE USE AND OCCUPANCY OF THE PROPERTY, INCOME THEREOF, THE COST AND EXPENSES OF MAINTENANCE THEREOF, AND ANY AND ALL OTHER MATTERS CONCERNING THE CONDITION, SUITABILITY, INTEGRITY, MARKETABILITY, COMPLIANCE WITH LAW, OR OTHER ATTRIBUTES OR ASPECTS OF THE PROPERTY, OR A PART THEREOF, IS FURNISHED TO PURCHASER FOR INFORMATIONAL PURPOSES WITHOUT RECOURSE AND SELLER MAKES NO REPRESENTATION, EXPRESS OR IMPLIED, OR ARISING BY OPERATION OF LAW, WITH RESPECT TO THE ACCURACY, COMPLETENESS OR ANY OTHER ASPECT OF THE PROPERTY INFORMATION, NOR AS A RESULT OF THE DELIVERY OF THIS PROPERTY INFORMATION.
(b) ON THE CLOSING DATE, PURCHASER WILL BE FAMILIAR WITH THE PROPERTY AND WILL HAVE MADE SUCH INDEPENDENT INVESTIGATIONS AS PURCHASER DEEMS NECESSARY OR APPROPRIATE CONCERNING THE PROPERTY. EXCEPT AS EXPRESSLY PROVIDED IN SECTION 12 BELOW, SELLER MAKES NO REPRESENTATIONS OR WARRANTIES AND SPECIFICALLY DISCLAIMS ANY REPRESENTATION, WARRANTY, OR COVENANTSGUARANTY, ORAL OR WRITTEN, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED REPRESENTATIONS PAST, PRESENT OR WARRANTIES OR COVENANTS WITH RESPECT TO: (A) THE TITLE TO OR CONDITION OF THE PROPERTY OR ANY STRUCTURE OR IMPROVEMENTS THEREON, ACCESS THERETO OR THE SUITABILITY OF THE PROPERTY FOR HABITATION OR FOR BUYER’S INTENDED USE; (B) THE DEVELOPMENT OF THE PROPERTY OR ANY APPLICABLE BUILDING, ZONING OR FIRE LAWS OR REGULATIONS OR WITH RESPECT TO COMPLIANCE THEREWITH OR FUTURE WITH RESPECT TO THE EXISTENCE OF OR COMPLIANCE WITH ANY REQUIRED PERMITS, IF ANY, OF ANY GOVERNMENTAL AGENCY; (C) THE AVAILABILITY OR EXISTENCE OF ANY WATER, SEWER OR UTILITIES, ANY RIGHTS THERETO, PHYSICAL CONDITION OR ANY WATER, SEWER OR UTILITY DISTRICTS; (D) ACCESS TO ANY PUBLIC OR PRIVATE SANITARY SEWER OR DRAINAGE SYSTEM; (E) THE PRESENCE OTHER ASPECT OF ANY HAZARDOUS SUBSTANCES AT THE PROPERTY OR IN ANY IMPROVEMENTS ON THE PROPERTY, INCLUDING WITHOUT LIMITATION ASBESTOS THE STRUCTURAL INTEGRITY OF THE IMPROVEMENTS, THE MANNER, CONSTRUCTION, CONDITION, AND STATE OF REPAIR OR UREA-FORMALDEHYDELACK OF REPAIR OF ANY OF THE IMPROVEMENTS, THE CONFORMITY OF THE IMPROVEMENTS TO ANY PLANS OR SPECIFICATIONS FOR THE PROPERTY (INCLUDING BUT NOT LIMITED TO, ANY PLANS AND SPECIFICATIONS THAT MAY HAVE BEEN OR WHICH MAY BE PROVIDED TO PURCHASER), THE CONFORMITY OF THE PROPERTY TO PAST, CURRENT OR FUTURE APPLICABLE ZONING OR BUILDING CODE REQUIREMENTS OR THE COMPLIANCE WITH ANY OTHER LAWS, RULES, ORDINANCES, OR THE PRESENCE REGULATIONS OF ANY ENVIRONMENTALLY GOVERNMENT OR OTHER BODY, INCLUDING BUT NOT LIMITED TO TITLE III OF THE AMERICANS WITH DISABILITIES ACT OF 1900, THE FEDERAL WATER POLLUTION CONTROL ACT, THE FEDERAL RESOURCE CONSERVATION AND RECOVERY ACT, THE HAZARDOUS WASTES MATERIALS TRANSPORTATION ACT, THE TOXIC SUBSTANCE CONTROL ACT, THE FINANCIAL EARNING CAPACITY OR HISTORY OR EXPENSE HISTORY OF THE OPERATION OF THE PROPERTY, THE NATURE AND EXTENT OF ANY RIGHT-OF-WAY, LEASE, POSSESSION, LIEN, ENCUMBRANCE, LICENSE, RESERVATION, CONDITION, OR OTHERWISE, THE EXISTENCE OF SOIL INSTABILITY, PAST SOIL REPAIRS, SOIL ADDITIONS OR CONDITIONS OF SOIL FILL, SUSCEPTIBILITY TO LANDSLIDES, SUFFICIENCY OF UNDERSHORING, SUFFICIENCY OF DRAINAGE, WHETHER THE PROPERTY IS LOCATED WHOLLY OR PARTIALLY IN A FLOOD PLAIN OR A FLOOD HAZARD BOUNDARY OR SIMILAR AREA, THE EXISTENCE OR NON-EXISTENCE OF HAZARDOUS WASTE OR OTHER TOXIC MATERIALS ON OR UNDER OF ANY KIND (INCLUDING, WITHOUT LIMITATION, ASBESTOS), THE RIGHT TO FURTHER DEVELOP THE PROPERTY, OR (F) THE CONDITION OR FUTURE DEVELOPMENT ANY OTHER PROPERTYMATTER AFFECTING THE STABILITY OR INTEGRITY OF THE LAND AND/OR THE IMPROVEMENTS. BUYER UNCONDITIONALLY RELEASES PURCHASER HEREBY ACKNOWLEDGES AND FOREVER DISCHARGES AGREES THAT, EXCEPT AS SPECIFICALLY PROVIDED IN SECTION 12 BELOW, SELLER HAS NOT MADE, DOES NOT MAKE AND ITS MEMBERSSPECIFICALLY NEGATES AND DISCLAIMS ANY REPRESENTATIONS, MANAGERSWARRANTIES, ATTORNEYS AND AGENTS FROM AND AGAINST ANY AND ALL CLAIMSPROMISES, CAUSES OF ACTIONCOVENANTS, JUDGMENTS, DAMAGES, LOSSES, PENALTIES, FINES, LIABILITIES (INCLUDING STRICT LIABILITY), COSTS AND EXPENSES AGREEMENTS OR GUARANTIES OF ANY KIND OR NATURECHARACTER WHATSOEVER, BOTH KNOWN WHETHER EXPRESS OR UNKNOWNIMPLIED, ORAL OR WRITTEN, PAST, PRESENT AND OR FUTURE, FOR OF, AS TO, CONCERNING OR WITH RESPECT TO THE PROPERTY OR ANY MATTER RELATING DIRECTLY RELATED THERETO, INCLUDING, WITHOUT LIMITATION, THE HABITABILITY, MERCHANTABILITY, USE, OPERATION, VALUE, MARKETABILITY, PROFITABILITY OR INDIRECTLY FITNESS FOR A PARTICULAR PURPOSE OF THE PROPERTY OR ANY ASPECT OR PORTION THEREOF, INCLUDING STRUCTURAL ELEMENTS, FOUNDATION, ROOF, APPURTENANCES, ACCESS, LANDSCAPING, PARKING FACILITIES, ELECTRICAL, MECHANICAL, HVAC, PLUMBING, SEWAGE, AND UTILITY SYSTEMS, AND COMPLIANCE WITH ANY ENVIRONMENTAL PROTECTION, POLLUTION OR LAND USE LAWS, RULES, REGULATION, ORDERS OR REQUIREMENTS. EXCEPT AS PROVIDED IN SECTION 12 BELOW, PURCHASER ACKNOWLEDGES AND AGREES THAT TO THE PROPERTYMAXIMUM EXTENT PERMITTED BY LAW, INCLUDING THE TITLE TOSALE OF THE PROPERTY AS PROVIDED FOR HEREIN IS MADE ON AN “AS IS” CONDITION AND BASIS WITH ALL FAULTS, AND THAT SELLER HAS NO OBLIGATIONS TO MAKE REPAIRS, REPLACEMENTS OR IMPROVEMENTS EXCEPT AS MAY OTHERWISE BE EXPRESSLY STATED HEREIN. PURCHASER ACKNOWLEDGES THAT (I) SELLER HAS DISCLOSED THAT ASBESTOS IS PRESENT WITHIN THE REAL PROPERTY AND (II) SELLER MAKES NO REPRESENTATIONS OR WARRANTIES REGARDING THE LOCATION, STATUS OR CONDITION OF SUCH ASBESTOS, OR DAMAGE THE SELLER’S COMPLIANCE OR NON-COMPLIANCE WITH ANY LAWS OR REGULATIONS RELATED TO THE PROPERTYMAINTENANCE OF, AND REGARDLESS NOTIFICATIONS REGARDING, OR ANY OTHER MATTERS RELATED TO SUCH ASBESTOS. ANY REPORTS, REPAIRS OR WORK REQUIRED BY PURCHASER, WITH THE SOLE EXCEPTION OF FAULT OR NEGLIGENCE THOSE LISTED IN SECTION 14(K), ARE THE SOLE RESPONSIBILITY OF SELLERPURCHASER. PURCHASER AGREES THAT, EXCEPT FOR A MATERIAL BREACH AS EXPRESSLY SET FORTH HEREIN, THERE IS NO OBLIGATION ON THE PART OF SELLER TO MAKE ANY CHANGES, ALTERATIONS OR REPAIRS OR TO CURE ANY VIOLATIONS OR APPLICABLE LAW OR TO COMPLY WITH THE REQUIREMENTS OF ANY INSURER. SELLER’S REPRESENTATIONS AND WARRANTIES SET FORTH IN SECTION 9.1 above. to the FULL extent permitted by law, Buyer hereby agrees, represents and warrants that Buyer realizes and acknowledges that factual matters now unknown to it may have given or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses, and expenses which are presently unknown, unanticipated and unsuspected, and Buyer further agrees, represents and warrants that the waivers and releases herein have been negotiated and agreed upon IN light of that realization. The provisions of this paragraph will be deemed remade at the Closing and will survive thereafter. Furthermore, and without limiting the foregoing, Buyer hereby expressly waives and relinquishes any and all rights and remedies Buyer may now or hereafter have against Seller under any statute, the common law, whether known or unknown, with respect to any past, present or future presence or existence of hazardous materials on, under or about the Property or with respect to any past, present or future violations of any rules, regulations or laws, now or hereafter enacted, regulating or governing the use, handling, storage or disposal of hazardous materials, including, without limitation, (i) any and all rights Buyer may now or hereafter have to seek contribution from Seller under Section 113(f)(i) of the Comprehensive Environmental Response Compensation and Liability Act of 1980 (“CERCLA”), as amended by the Superfund Amendments and Reauthorization Act of 1986 (42 U.S.C.A. 9613), as the same may be further amended or replaced by any similar law, rule or regulation; (ii) any and all rights Buyer may now or hereafter have against Seller under the Washington Model Toxics Control Act or other Washington rules, regulations or laws relating to hazardous materials, as the same may be further amended or replaced by any similar law, rule or regulation; and (iii) any and all claims, whether know or unknown, now or hereafter existing, with respect to the Property under Section 107 of CERCLA (42 U.S.C.A. 9607). The waivers and releases by Buyer herein contained will survive the Closing and will not be deemed merged into the deed from Seller to BuyerINITIALS PURCHASER’S INITIALS
Appears in 1 contract
Samples: Purchase and Sale Agreement (Strategic Hotels & Resorts, Inc)
As-Is Purchase. BUYER EXCEPT FOR SELLER’S REPRESENTATIONS AND WARRANTIES SET FORTH IN THIS AGREEMENT AND IN THE CLOSING DOCUMENTS DELIVERED BY SELLER TO PURCHASER AT CLOSING, PURCHASER IS PURCHASING THE PROPERTY “AS IS WHERE IS” IN ITS PRESENT CONDITION. BUYER PURCHASER HAS THE OPPORTUNITY TO INSPECT THE PROPERTY AND DOCUMENTATION IN SELLER’S POSSESSION AS PROVIDED HEREIN. EXCEPT AS EXPRESSLY FOR SELLER’S REPRESENTATIONS AND WARRANTIES SET FORTH IN SECTION 9 ABOVE THIS AGREEMENT AND IN THE DEEDCLOSING DOCUMENTS DELIVERED BY SELLER TO PURCHASER AT CLOSING, SELLER MAKES NO REPRESENTATIONS OR WARRANTIES OR COVENANTSWARRANTIES, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED REPRESENTATIONS OR WARRANTIES OR COVENANTS WITH RESPECT TO, HEREBY DISCLAIMS AND SHALL HAVE NO LIABILITY FOR: (A) THE TITLE TO OR CONDITION OF THE PROPERTY OR ANY BUILDINGS, STRUCTURE OR IMPROVEMENTS THEREON, ACCESS THERETO THEREON OR THE SUITABILITY OF THE PROPERTY FOR HABITATION OR FOR BUYERPURCHASER’S INTENDED USE; (B) THE DEVELOPMENT OF THE PROPERTY OR ANY APPLICABLE BUILDING, ZONING OR FIRE LAWS OR REGULATIONS OR WITH RESPECT TO COMPLIANCE THEREWITH OR WITH RESPECT TO THE EXISTENCE OF OR COMPLIANCE WITH ANY REQUIRED PERMITS, IF ANY, OF ANY GOVERNMENTAL AGENCY; (C) THE AVAILABILITY OR EXISTENCE OF ANY WATER, SEWER OR UTILITIES, ANY RIGHTS THERETO, OR ANY WATER, SEWER OR UTILITY DISTRICTS; (D) ACCESS TO ANY PUBLIC OR PRIVATE SANITARY SEWER OR DRAINAGE SYSTEM; OR (E) THE PRESENCE OF ANY HAZARDOUS SUBSTANCES AT THE PROPERTY OR IN ANY IMPROVEMENTS ON THE PROPERTY, INCLUDING WITHOUT LIMITATION ASBESTOS OR UREA-FORMALDEHYDE, OR THE PRESENCE OF ANY ENVIRONMENTALLY HAZARDOUS WASTES OR MATERIALS ON OR UNDER THE PROPERTY. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, OR (F) AND EXCEPT AS OTHERWISE EXPRESSLY SET FORTH HEREIN, SELLER SHALL HAVE NO LIABILITY WITH RESPECT TO THE CONDITION OR FUTURE DEVELOPMENT ANY OTHER PROPERTY. BUYER UNCONDITIONALLY RELEASES AND FOREVER DISCHARGES SELLER AND ITS MEMBERS, MANAGERS, ATTORNEYS AND AGENTS FROM AND AGAINST ANY AND ALL CLAIMS, CAUSES OF ACTION, JUDGMENTS, DAMAGES, LOSSES, PENALTIES, FINES, LIABILITIES (INCLUDING STRICT LIABILITY), COSTS AND EXPENSES OF ANY KIND OR NATURE, BOTH KNOWN OR UNKNOWN, PRESENT AND FUTURE, FOR ANY MATTER RELATING DIRECTLY OR INDIRECTLY TO THE PROPERTY, INCLUDING THE TITLE TO, CONDITION OF OR DAMAGE TO THE PROPERTY, AND REGARDLESS OF FAULT OR NEGLIGENCE OF SELLER, EXCEPT FOR A MATERIAL BREACH OF SELLER’S REPRESENTATIONS AND WARRANTIES SET FORTH IN SECTION 9.1 above. to the FULL extent permitted by law, Buyer hereby agrees, represents and warrants that Buyer realizes and acknowledges that factual matters now unknown to it may have given or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses, and expenses which are presently unknown, unanticipated and unsuspected, and Buyer further agrees, represents and warrants that the waivers and releases herein have been negotiated and agreed upon IN light of that realization. The provisions of this paragraph will be deemed remade at the Closing and will survive thereafter. Furthermore, and without limiting the foregoing, Buyer hereby expressly waives and relinquishes any and all rights and remedies Buyer may now or hereafter have against Seller under any statute, the common law, whether known or unknown, with respect to any past, present or future presence or existence of hazardous materials on, under or about the Property or with respect to any past, present or future violations of any rules, regulations or laws, now or hereafter enacted, regulating or governing the use, handling, storage or disposal of hazardous materials, including, without limitation, (i) any and all rights Buyer may now or hereafter have to seek contribution from Seller under Section 113(f)(i) of the Comprehensive Environmental Response Compensation and Liability Act of 1980 (“CERCLA”), as amended by the Superfund Amendments and Reauthorization Act of 1986 (42 U.S.C.A. 9613), as the same may be further amended or replaced by any similar law, rule or regulation; (ii) any and all rights Buyer may now or hereafter have against Seller under the Washington Model Toxics Control Act or other Washington rules, regulations or laws relating to hazardous materials, as the same may be further amended or replaced by any similar law, rule or regulation; and (iii) any and all claims, whether know or unknown, now or hereafter existing, with respect to the Property under Section 107 of CERCLA (42 U.S.C.A. 9607). The waivers and releases by Buyer herein contained will survive the Closing and will not be deemed merged into the deed from Seller to BuyerPROPERTY UNDER COMMON 18246046_5
Appears in 1 contract
Samples: Purchase and Sale Agreement (Generation Income Properties, Inc.)
As-Is Purchase. BUYER IS PURCHASING SUBJECT TO SELLER'S EXPRESS REPRESENTATIONS SET FORTH IN THIS AGREEMENT HEREOF AND IN THE PROPERTY “AS IS WHERE IS” IN DOCUMENTS DELIVERED AT CLOSING (COLLECTIVELY, THE "SELLER REPRESENTATIONS"), PURCHASER ACKNOWLEDGES THAT PURCHASER WILL HAVE INSPECTED THE SUBJECT PREMISES AND THAT PURCHASER HAS ENTERED INTO THIS AGREEMENT BASED UPON ITS PRESENT CONDITION. BUYER HAS THE OPPORTUNITY ABILITY TO INSPECT THE PROPERTY MAKE SUCH EXAMINATION AND DOCUMENTATION IN SELLER’S POSSESSION AS PROVIDED HEREININSPECTION. EXCEPT AS EXPRESSLY SET FORTH IN SECTION 9 ABOVE SELLER REPRESENTATIONS, THE SUBJECT PREMISES IS BEING SOLD IN AN AS-IS" CONDITION AND "WITH ALL FAULTS" AS OF THE CLOSING DATE. EXCEPT AS EXPRESSLY SET FORTH IN THE DEEDSELLER REPRESENTATIONS, SELLER MAKES NO OTHER REPRESENTATIONS OR WARRANTIES HAVE BEEN MADE OR COVENANTSARE MADE AND NO RESPONSIBILITY HAS BEEN OR IS ASSUMED BY SELLER OR BY ANY DIRECTOR, EXPRESS OFFICER, PERSON, FIRM, AGENT OR IMPLIED, INCLUDING BUT NOT LIMITED REPRESENTATIONS REPRESENTATIVE ACTING OR WARRANTIES OR COVENANTS WITH RESPECT TO: (A) THE TITLE PURPORTING TO OR CONDITION OF THE PROPERTY OR ANY STRUCTURE OR IMPROVEMENTS THEREON, ACCESS THERETO OR THE SUITABILITY OF THE PROPERTY FOR HABITATION OR FOR BUYER’S INTENDED USE; (B) THE DEVELOPMENT OF THE PROPERTY OR ANY APPLICABLE BUILDING, ZONING OR FIRE LAWS OR REGULATIONS OR WITH RESPECT TO COMPLIANCE THEREWITH OR WITH RESPECT TO THE EXISTENCE OF OR COMPLIANCE WITH ANY REQUIRED PERMITS, IF ANY, OF ANY GOVERNMENTAL AGENCY; (C) THE AVAILABILITY OR EXISTENCE OF ANY WATER, SEWER OR UTILITIES, ANY RIGHTS THERETO, OR ANY WATER, SEWER OR UTILITY DISTRICTS; (D) ACCESS TO ANY PUBLIC OR PRIVATE SANITARY SEWER OR DRAINAGE SYSTEM; (E) THE PRESENCE OF ANY HAZARDOUS SUBSTANCES AT THE PROPERTY OR IN ANY IMPROVEMENTS ACT ON THE PROPERTY, INCLUDING WITHOUT LIMITATION ASBESTOS OR UREA-FORMALDEHYDE, OR THE PRESENCE OF ANY ENVIRONMENTALLY HAZARDOUS WASTES OR MATERIALS ON OR UNDER THE PROPERTY, OR (F) THE CONDITION OR FUTURE DEVELOPMENT ANY OTHER PROPERTY. BUYER UNCONDITIONALLY RELEASES AND FOREVER DISCHARGES SELLER AND ITS MEMBERS, MANAGERS, ATTORNEYS AND AGENTS FROM AND AGAINST ANY AND ALL CLAIMS, CAUSES OF ACTION, JUDGMENTS, DAMAGES, LOSSES, PENALTIES, FINES, LIABILITIES (INCLUDING STRICT LIABILITY), COSTS AND EXPENSES OF ANY KIND OR NATURE, BOTH KNOWN OR UNKNOWN, PRESENT AND FUTURE, FOR ANY MATTER RELATING DIRECTLY OR INDIRECTLY TO THE PROPERTY, INCLUDING THE TITLE TO, CONDITION OF OR DAMAGE TO THE PROPERTY, AND REGARDLESS OF FAULT OR NEGLIGENCE BEHALF OF SELLER. THE PARTIES AGREE THAT ALL UNDERSTANDINGS AND AGREEMENTS HERETOFORE MADE BETWEEN THEM OR THEIR RESPECTIVE AGENTS OR REPRESENTATIVES ARE MERGED IN THIS AGREEMENT, EXCEPT FOR A MATERIAL BREACH OF SELLER’S REPRESENTATIONS AND WARRANTIES OTHER THAN AS EXPRESSLY SET FORTH IN SELLER REPRESENTATIONS, WHICH, COLLECTIVELY, FULLY AND COMPLETELY EXPRESS THE PARTIES' AGREEMENT. PURCHASER ACKNOWLEDGES THAT THE PURCHASE PRICE REFLECTS THE "AS-IS" NATURE OF THIS SALE AND ANY FAULTS, LIABILITIES, DEFECTS OR OTHER ADVERSE MATTERS THAT MAY BE ASSOCIATED WITH THE SUBJECT PREMISES, SUBJECT TO THE SELLER REPRESENTATIONS. PURCHASER HAS FULLY REVIEWED THE DISCLAIMERS AND WAIVERS SET FORTH IN THIS AGREEMENT WITH ITS COUNSEL AND UNDERSTANDS THE SIGNIFICANCE AND EFFECT THEREOF. NOTWITHSTANDING ANYTHING TO THE CONTRARY HEREIN, THE TERMS AND PROVISIONS OF THIS SECTION 9.1 above. to the FULL extent permitted by law, Buyer hereby agrees, represents and warrants that Buyer realizes and acknowledges that factual matters now unknown to it may have given or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses, and expenses which are presently unknown, unanticipated and unsuspected, and Buyer further agrees, represents and warrants that the waivers and releases herein have been negotiated and agreed upon IN light of that realization. The provisions of this paragraph will be deemed remade at the Closing and will survive thereafter. Furthermore, and without limiting the foregoing, Buyer hereby expressly waives and relinquishes any and all rights and remedies Buyer may now or hereafter have against Seller under any statute, the common law, whether known or unknown, with respect to any past, present or future presence or existence of hazardous materials on, under or about the Property or with respect to any past, present or future violations of any rules, regulations or laws, now or hereafter enacted, regulating or governing the use, handling, storage or disposal of hazardous materials, including, without limitation, (i) any and all rights Buyer may now or hereafter have to seek contribution from Seller under Section 113(f)(i) of the Comprehensive Environmental Response Compensation and Liability Act of 1980 (“CERCLA”), as amended by the Superfund Amendments and Reauthorization Act of 1986 (42 U.S.C.A. 9613), as the same may be further amended or replaced by any similar law, rule or regulation; (ii) any and all rights Buyer may now or hereafter have against Seller under the Washington Model Toxics Control Act or other Washington rules, regulations or laws relating to hazardous materials, as the same may be further amended or replaced by any similar law, rule or regulation; and (iii) any and all claims, whether know or unknown, now or hereafter existing, with respect to the Property under Section 107 of CERCLA (42 U.S.C.A. 9607). The waivers and releases by Buyer herein contained will survive the Closing and will not be deemed merged into the deed from Seller to BuyerIL.D SHALL SURVIVE THE CLOSING INDEFINITELY.
Appears in 1 contract
Samples: Purchase Agreement (Aei Income & Growth Fund Xxi LTD Partnership)
As-Is Purchase. BUYER IS PURCHASING EXCEPT AS MAY BE EXPRESSLY PROVIDED IN THIS AGREEMENT, AND TO THE MAXIMUM EXTENT PERMITTED BY LAW, (i) THE SALE OF THE PROPERTY “AS IS WHERE IS” IN ITS PRESENT CONDITION. BUYER HAS THE OPPORTUNITY TO INSPECT THE PROPERTY AND DOCUMENTATION IN SELLER’S POSSESSION AS PROVIDED HEREINFOR HEREIN IS MADE ON AN "AS-IS" AND "WITH ALL FAULTS" BASIS, AND (ii) SELLER HAS NO OBLIGATIONS TO MAKE ANY REPAIRS, REPLACEMENTS OR IMPROVEMENTS. EXCEPT AS MAY BE EXPRESSLY SET FORTH PROVIDED IN SECTION 9 ABOVE THIS AGREEMENT, BUYER AGREES THAT IT WILL ACCEPT THE PROPERTY FROM AND AFTER CLOSING, IN ITS THEN 9/12/2013 12:02 PM EXISTING CONDITION "AS-IS" AND "WITH ALL FAULTS", INCLUDING WITHOUT LIMITATION, ANY FAULTS AND CONDITIONS SPECIFICALLY REFERENCED IN THIS AGREEMENT. NO PERSON ACTING ON BEHALF OF SELLER OR ANY OTHER SELLER PARTY IS AUTHORIZED TO MAKE, AND BY EXECUTION HEREOF, BUYER ACKNOWLEDGES AND AGREES THAT, EXCEPT AS SPECIFICALLY PROVIDED IN THIS AGREEMENT (AND THE DEEDEXHIBITS ATTACHED HERETO), SELLER MAKES NO REPRESENTATIONS OR WARRANTIES OR AND ALL OTHER SELLER PARTIES HAVE NOT MADE, DO NOT MAKE AND SPECIFICALLY NEGATE AND DISCLAIM ANY REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS, AGREEMENTS OR GUARANTIES OF ANY KIND OR CHARACTER WHATSOEVER, WHETHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED REPRESENTATIONS ORAL OR WARRANTIES WRITTEN, PAST, PRESENT OR COVENANTS FUTURE, OF, AS TO, CONCERNING OR WITH RESPECT TO: :
(Aa) THE TITLE TO OR CONDITION VALUE OF THE PROPERTY OR ANY STRUCTURE OR IMPROVEMENTS THEREON, ACCESS THERETO OR PROPERTY;
(b) THE INCOME TO BE DERIVED FROM THE PROPERTY;
(c) THE SUITABILITY OF THE PROPERTY FOR HABITATION OR FOR BUYER’S INTENDED USE; (B) THE ANY AND ALL ACTIVITIES AND USES WHICH BUYER MAY CONDUCT THEREON, INCLUDING ANY DEVELOPMENT OF THE PROPERTY OR ANY APPLICABLE BUILDING, ZONING OR FIRE LAWS OR REGULATIONS OR WITH RESPECT TO COMPLIANCE THEREWITH OR WITH RESPECT TO THE EXISTENCE OF OR COMPLIANCE WITH ANY REQUIRED PERMITS, IF ANY, OF ANY GOVERNMENTAL AGENCY; PROPERTY;
(Cd) THE AVAILABILITY HABITABILITY, MERCHANTABILITY, MARKETABILITY, PROFITABILITY OR EXISTENCE FITNESS FOR A PARTICULAR PURPOSE OF ANY WATER, SEWER OR UTILITIES, ANY RIGHTS THERETO, OR ANY WATER, SEWER OR UTILITY DISTRICTS; THE PROPERTY;
(D) ACCESS TO ANY PUBLIC OR PRIVATE SANITARY SEWER OR DRAINAGE SYSTEM; (Ee) THE PRESENCE MANNER, QUALITY, STATE OF ANY HAZARDOUS SUBSTANCES AT REPAIR OR LACK OF REPAIR OF THE PROPERTY PROPERTY;
(f) THE NATURE, QUALITY OR IN ANY IMPROVEMENTS ON CONDITION OF THE PROPERTY, INCLUDING WITHOUT LIMITATION ASBESTOS LIMITATION, THE WATER, SOIL AND GEOLOGY;
(g) THE COMPLIANCE OF OR UREA-FORMALDEHYDEBY THE PROPERTY OR ITS OPERATION WITH ANY LAWS, RULES, ORDINANCES OR REGULATIONS OF ANY APPLICABLE GOVERNMENTAL AUTHORITY OR BODY;
(h) THE MANNER, CONDITION OR QUALITY OF THE CONSTRUCTION OR MATERIALS, IF ANY, INCORPORATED INTO THE PROPERTY;
(i) COMPLIANCE WITH ANY ENVIRONMENTAL LAWS OR OTHER ENVIRONMENTAL PROTECTION, POLLUTION OR LAND USE LAWS, RULES, REGULATION, ORDERS OR REQUIREMENTS, INCLUDING BUT NOT LIMITED TO, THE ENDANGERED SPECIES ACT, TITLE III OF THE AMERICANS WITH DISABILITIES ACT OF 1990 OR ANY OTHER LAW, RULE OR REGULATION GOVERNING ACCESS BY DISABLED PERSONS, CALIFORNIA HEALTH & SAFETY CODE, THE FEDERAL WATER 9/12/2013 12:02 PM POLLUTION CONTROL ACT, THE FEDERAL RESOURCE CONSERVATION AND RECOVERY ACT, THE U.S. ENVIRONMENTAL PROTECTION AGENCY REGULATIONS AT 40 C.F.R., PART 261, THE COMPREHENSIVE ENVIRONMENTAL RESPONSE COMPENSATION AND LIABILITY ACT OF 1980, AS AMENDED, THE RESOURCES CONSERVATION AND RECOVERY ACT OF 1976, THE CLEAN WATER ACT, THE SAFE DRINKING WATER ACT, THE HAZARDOUS MATERIALS TRANSPORTATION ACT, THE TOXIC SUBSTANCE CONTROL ACT, AND REGULATIONS PROMULGATED UNDER ANY OF THE FOREGOING;
(j) THE PRESENCE OR ABSENCE OF ANY ENVIRONMENTALLY HAZARDOUS WASTES MATERIALS AT, ON, UNDER, ABOUT OR MATERIALS ON OR UNDER ADJACENT TO THE PROPERTY, OR ;
(Fk) THE CONDITION CONTENT, COMPLETENESS OR FUTURE DEVELOPMENT ACCURACY OF THE DUE DILIGENCE MATERIALS, INCLUDING ANY INFORMATIONAL PACKAGE, COST TO COMPLETE ESTIMATE OR OTHER MATERIALS PREPARED BY SELLER OR PROVIDED BY SELLER OR ANY OTHER PROPERTY. BUYER UNCONDITIONALLY RELEASES AND FOREVER DISCHARGES SELLER AND ITS MEMBERS, MANAGERS, ATTORNEYS AND AGENTS FROM AND AGAINST PARTY TO BUYER;
(l) THE CONFORMITY OF THE IMPROVEMENTS TO ANY AND ALL CLAIMS, CAUSES OF ACTION, JUDGMENTS, DAMAGES, LOSSES, PENALTIES, FINES, LIABILITIES (INCLUDING STRICT LIABILITY), COSTS AND EXPENSES OF ANY KIND PLANS OR NATURE, BOTH KNOWN OR UNKNOWN, PRESENT AND FUTURE, SPECIFICATIONS FOR ANY MATTER RELATING DIRECTLY OR INDIRECTLY TO THE PROPERTY, INCLUDING ANY PLANS AND SPECIFICATIONS THAT MAY HAVE BEEN OR MAY BE PROVIDED TO BUYER;
(m) THE TITLE TOCONFORMITY OF THE PROPERTY TO PAST, CONDITION CURRENT OR FUTURE APPLICABLE ZONING OR BUILDING REQUIREMENTS;
(n) DEFICIENCY OF ANY UNDERSHORING;
(o) DEFICIENCY OF ANY DRAINAGE;
(p) THE FACT THAT ALL OR DAMAGE TO A PORTION OF THE PROPERTY MAY BE LOCATED ON OR NEAR AN EARTHQUAKE FAULT LINE OR LOCATED IN AN XXXXXXX-XXXXXX SPECIAL STUDY ZONE;
(q) THE EXISTENCE OF VESTED LAND USE, ZONING OR BUILDING ENTITLEMENTS AFFECTING THE PROPERTY, OR
(r) WITH RESPECT TO ANY OTHER MATTER CONCERNING THE PROPERTY, INCLUDING ANY AND REGARDLESS ALL SUCH MATTERS REFERENCED, DISCUSSED OR DISCLOSED IN ANY DUE DILIGENCE MATERIALS DELIVERED BY SELLER TO BUYER, IN ANY PUBLIC RECORDS OF FAULT ANY GOVERNMENTAL AGENCY OR NEGLIGENCE OF SELLERENTITY OR UTILITY COMPANY, OR IN ANY OTHER DOCUMENTS AVAILABLE TO BUYER, EXCEPT FOR A MATERIAL BREACH AS MAY BE OTHERWISE EXPRESSLY STATED IN SECTIONS 7, 8.2.1 AND 10 HEREIN. 9/12/2013 12:02 PM BUYER FURTHER ACKNOWLEDGES AND AGREES THAT HAVING BEEN GIVEN THE OPPORTUNITY IN THIS AGREEMENT TO FURTHER INSPECT THE PROPERTY AND REVIEW INFORMATION AND DOCUMENTATION AFFECTING THE PROPERTY, BUYER IS RELYING SOLELY ON ITS OWN INVESTIGATION OF THE PROPERTY AND REVIEW OF SUCH INFORMATION AND DOCUMENTATION, AND SELLER’S REPRESENTATIONS AND WARRANTIES SET FORTH IN SECTION 9.1 aboveTHIS AGREEMENT. to the FULL extent permitted by lawBUYER ACKNOWLEDGES AND AGREES THAT ANY INFORMATION MADE AVAILABLE TO BUYER OR PROVIDED OR TO BE PROVIDED BY OR ON BEHALF OF SELLER WITH RESPECT TO THE PROPERTY WAS OBTAINED FROM A VARIETY OF SOURCES AND THAT SELLER HAS NOT MADE ANY INDEPENDENT INVESTIGATION OR VERIFICATION OF SUCH INFORMATION AND MAKES NO REPRESENTATIONS AS TO THE ACCURACY OR COMPLETENESS OF SUCH INFORMATION PREPARED BY THIRD PARTIES EXCEPT AS MAY OTHERWISE BE PROVIDED HEREIN. BUYER HEREBY REPRESENTS AND WARRANTS TO SELLER THAT: (A) BUYER IS REPRESENTED BY LEGAL COUNSEL IN CONNECTION WITH THE TRANSACTION CONTEMPLATED BY THIS AGREEMENT; AND (B) BUYER DOES INTEND TO OCCUPY THE BUILDINGS, Buyer hereby agreesOR PORTIONS THEREOF, represents and warrants that Buyer realizes and acknowledges that factual matters now unknown to it may have given or may hereafter give rise to causes of actionAND ALSO IS PURCHASING THE PROPERTY FOR BUSINESS AND COMMERCIAL DEVELOPMENT OR OTHER SIMILAR PURPOSE. BUYER WAIVES ANY AND ALL RIGHTS OR REMEDIES IT MAY HAVE OR BE ENTITLED TO, claims, demands, debts, controversies, damages, costs, losses, and expenses which are presently unknown, unanticipated and unsuspected, and Buyer further agrees, represents and warrants that the waivers and releases herein have been negotiated and agreed upon DERIVING FROM DISPARITY IN light of that realization. The provisions of this paragraph will be deemed remade at the Closing and will survive thereafter. Furthermore, and without limiting the foregoing, Buyer hereby expressly waives and relinquishes any and all rights and remedies Buyer may now or hereafter have against Seller under any statute, the common law, whether known or unknown, with respect to any past, present or future presence or existence of hazardous materials on, under or about the Property or with respect to any past, present or future violations of any rules, regulations or laws, now or hereafter enacted, regulating or governing the use, handling, storage or disposal of hazardous materials, including, without limitation, (i) any and all rights Buyer may now or hereafter have to seek contribution from Seller under Section 113(f)(i) of the Comprehensive Environmental Response Compensation and Liability Act of 1980 (“CERCLA”), as amended by the Superfund Amendments and Reauthorization Act of 1986 (42 U.S.C.A. 9613), as the same may be further amended or replaced by any similar law, rule or regulation; (ii) any and all rights Buyer may now or hereafter have against Seller under the Washington Model Toxics Control Act or other Washington rules, regulations or laws relating to hazardous materials, as the same may be further amended or replaced by any similar law, rule or regulation; and (iii) any and all claims, whether know or unknown, now or hereafter existing, with respect to the Property under Section 107 of CERCLA (42 U.S.C.A. 9607). The waivers and releases by Buyer herein contained will survive the Closing and will not be deemed merged into the deed from Seller to BuyerSIZE OR FROM ANY SIGNIFICANT DISPARATE BARGAINING POSITION IN RELATION TO SELLER.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Super Micro Computer, Inc.)
As-Is Purchase. A. BUYER ACKNOWLEDGES AND AGREES THAT BUYER IS PURCHASING ACCEPTING THE PROPERTY “"AS-IS" "WHERE-IS" AND "WITH ALL FAULTS" WITHOUT ANY WARRANTIES, REPRESENTATIONS OR GUARANTEES, EITHER EXPRESSED OR IMPLIED, OF ANY KIND, NATURE, OR TYPE WHATSOEVER FROM, OR ON BEHALF OF, SELLER OR THE OWNER PARTIES, EXCEPT AS IS WHERE IS” MAY HEREAFTER BE SPECIFICALLY SET FORTH IN ITS PRESENT CONDITIONTHE PORTFOLIO PURCHASE AGREEMENT. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, BUYER HAS ACKNOWLEDGES AND AGREES THAT SELLER HEREBY EXPRESSLY DISCLAIMS, AND OWNER PARTIES HAVE EXPRESSLY DISCLAIMED, ANY AND ALL IMPLIED WARRANTIES CONCERNING THE OPPORTUNITY TO INSPECT CONDITION OF THE PROPERTY AND DOCUMENTATION IN SELLER’S POSSESSION AS PROVIDED HEREIN. ANY PORTIONS THEREOF, INCLUDING, BUT NOT LIMITED TO, ENVIRONMENTAL CONDITIONS, THE IMPLIED WARRANTIES OF HABITABILITY, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE, EXCEPT AS MAY BE HEREAFTER EXPRESSLY SET FORTH IN SECTION 9 ABOVE THE PORTFOLIO PURCHASE AGREEMENT.
B. BUYER ACKNOWLEDGES AND AGREES THAT, EXCEPT AS MAY BE HEREAFTER OTHERWISE EXPRESSLY SET FORTH IN THE DEEDPORTFOLIO PURCHASE AGREEMENT, NEITHER SELLER MAKES NO REPRESENTATIONS NOR THE OWNER PARTIES NOR THEIR AFFILIATES, NOR ANY OF THEIR RESPECTIVE SHAREHOLDERS, MEMBERS, PARTNERS, TRUSTEES, BENEFICIARIES, DIRECTORS, OFFICERS, MANAGERS, EMPLOYEES, ATTORNEYS, ACCOUNTANTS, CONTRACTORS, CONSULTANTS, AGENTS OR WARRANTIES REPRESENTATIVES, NOR ANY PERSON PURPORTING TO REPRESENT ANY OF THE FOREGOING, HAVE MADE ANY REPRESENTATION, WARRANTY, GUARANTY, PROMISE, PROJECTION OR COVENANTSPREDICTION WHATSOEVER WITH RESPECT TO THE PROPERTY OR THE BUSINESS CONDUCTED BY SELLER THEREON, WRITTEN OR ORAL, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED REPRESENTATIONS ARISING BY OPERATION OF LAW OR WARRANTIES OTHERWISE, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY OR COVENANTS WITH RESPECT TO: FITNESS FOR A PARTICULAR PURPOSE, OR ANY REPRESENTATION OR WARRANTY AS TO (AI) THE TITLE TO CONDITION, SAFETY, QUANTITY, QUALITY, USE, OCCUPANCY OR CONDITION OPERATION OF THE PROPERTY, (II) THE COMPLIANCE OF THE PROPERTY OR THE BUSINESS WITH ANY STRUCTURE ZONING REQUIREMENTS, BUILDING CODES OR IMPROVEMENTS THEREONOTHER APPLICABLE LAW, ACCESS THERETO INCLUDING, WITHOUT LIMITATION, THE AMERICANS WITH DISABILITIES ACT OF 1990, (III) THE ACCURACY OF ANY ENVIRONMENTAL REPORTS OR OTHER DATA OR INFORMATION SET FORTH IN THE SELLER DUE DILIGENCE MATERIALS (AS SHALL BE DEFINED IN THE PORTFOLIO PURCHASE AGREEMENT) PROVIDED TO BUYER WHICH WERE PREPARED FOR OR ON BEHALF OF SELLER OR THE SUITABILITY OF THE PROPERTY FOR HABITATION OR FOR BUYER’S INTENDED USE; (B) THE DEVELOPMENT OF THE PROPERTY OR ANY APPLICABLE BUILDING, ZONING OR FIRE LAWS OR REGULATIONS OR WITH RESPECT TO COMPLIANCE THEREWITH OR WITH RESPECT TO THE EXISTENCE OF OR COMPLIANCE WITH ANY REQUIRED PERMITS, IF ANY, OF ANY GOVERNMENTAL AGENCY; (C) THE AVAILABILITY OR EXISTENCE OF ANY WATER, SEWER OR UTILITIES, ANY RIGHTS THERETOOWNER PARTIES, OR ANY WATER, SEWER OR UTILITY DISTRICTS; (D) ACCESS ANY OTHER MATTER RELATING TO ANY PUBLIC OR PRIVATE SANITARY SEWER OR DRAINAGE SYSTEM; (E) THE PRESENCE OF ANY HAZARDOUS SUBSTANCES AT THE PROPERTY OR IN ANY IMPROVEMENTS ON THE PROPERTY, INCLUDING WITHOUT LIMITATION ASBESTOS OR UREA-FORMALDEHYDE, SELLER OR THE PRESENCE OF ANY ENVIRONMENTALLY HAZARDOUS WASTES OR MATERIALS ON OR UNDER OWNER PARTIES, THE PROPERTY, OR THE BUSINESS CONDUCTED BY SELLER THEREON.
C. BUYER ACKNOWLEDGES AND AGREES THAT (FI) BUYER SHALL HAVE HAD THE CONDITION OPPORTUNITY TO CONDUCT ALL DUE DILIGENCE INSPECTIONS OF THE PROPERTY AND THE BUSINESS CONDUCTED BY SELLER THEREON AS OF THE EXPIRATION OF THE DUE DILIGENCE PERIOD AS SHALL BE SET FORTH IN THE PORTFOLIO PURCHASE AGREEMENT, INCLUDING REVIEWING ALL SELLER DUE DILIGENCE MATERIALS AND OBTAINING ALL INFORMATION WHICH IT DEEMS NECESSARY TO MAKE AN INFORMED DECISION AS TO WHETHER IT SHOULD PROCEED WITH THE PURCHASE OF THE PROPERTY; (II) BUYER WILL BE RELYING ONLY ON ITS DUE DILIGENCE INSPECTIONS OF THE PROPERTY AND THE BUSINESS CONDUCTED BY SELLER THEREON, ITS REVIEW OF THE SELLER DUE DILIGENCE MATERIALS AND THE REPRESENTATIONS AND WARRANTIES TO BE EXPRESSLY MADE BY SELLER IN THE PORTFOLIO PURCHASE AGREEMENT IN PURCHASING THE PROPERTY; AND (III) BUYER IS NOT RELYING ON ANY STATEMENT MADE OR FUTURE DEVELOPMENT INFORMATION PROVIDED TO BUYER BY SELLER OR THE OWNER PARTIES (EXCEPT FOR THE REPRESENTATIONS AND WARRANTIES TO BE EXPRESSLY STATED BY SELLER IN THE PORTFOLIO PURCHASE AGREEMENT) OR ANY OTHER PROPERTY. BUYER UNCONDITIONALLY RELEASES AND FOREVER DISCHARGES SELLER AND ITS OF THEIR AFFILIATES, OR ANY OF THEIR RESPECTIVE SHAREHOLDERS, MEMBERS, PARTNERS, TRUSTEES, BENEFICIARIES, DIRECTORS, MANAGERS, ATTORNEYS AND OFFICERS, EMPLOYEES, ATTORNEYS, ACCOUNTANTS, CONTRACTORS, CONSULTANTS, AGENTS FROM AND AGAINST OR REPRESENTATIVES, OR ANY AND ALL CLAIMS, CAUSES PERSON PURPORTING TO REPRESENT ANY OF ACTION, JUDGMENTS, DAMAGES, LOSSES, PENALTIES, FINES, LIABILITIES (INCLUDING STRICT LIABILITY), COSTS AND EXPENSES OF ANY KIND OR NATURE, BOTH KNOWN OR UNKNOWN, PRESENT AND FUTURE, FOR ANY MATTER RELATING DIRECTLY OR INDIRECTLY TO THE PROPERTY, INCLUDING THE TITLE TO, CONDITION OF OR DAMAGE TO THE PROPERTY, AND REGARDLESS OF FAULT OR NEGLIGENCE OF SELLER, EXCEPT FOR A MATERIAL BREACH OF SELLER’S REPRESENTATIONS AND WARRANTIES SET FORTH IN SECTION 9.1 above. to the FULL extent permitted by law, Buyer hereby agrees, represents and warrants that Buyer realizes and acknowledges that factual matters now unknown to it may have given or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses, and expenses which are presently unknown, unanticipated and unsuspected, and Buyer further agrees, represents and warrants that the waivers and releases herein have been negotiated and agreed upon IN light of that realization. The provisions of this paragraph will be deemed remade at the Closing and will survive thereafter. Furthermore, and without limiting the foregoing, Buyer hereby expressly waives and relinquishes any and all rights and remedies Buyer may now or hereafter have against Seller under any statute, the common law, whether known or unknown, with respect to any past, present or future presence or existence of hazardous materials on, under or about the Property or with respect to any past, present or future violations of any rules, regulations or laws, now or hereafter enacted, regulating or governing the use, handling, storage or disposal of hazardous materials, including, without limitation, (i) any and all rights Buyer may now or hereafter have to seek contribution from Seller under Section 113(f)(i) of the Comprehensive Environmental Response Compensation and Liability Act of 1980 (“CERCLA”), as amended by the Superfund Amendments and Reauthorization Act of 1986 (42 U.S.C.A. 9613), as the same may be further amended or replaced by any similar law, rule or regulation; (ii) any and all rights Buyer may now or hereafter have against Seller under the Washington Model Toxics Control Act or other Washington rules, regulations or laws relating to hazardous materials, as the same may be further amended or replaced by any similar law, rule or regulation; and (iii) any and all claims, whether know or unknown, now or hereafter existing, with respect to the Property under Section 107 of CERCLA (42 U.S.C.A. 9607). The waivers and releases by Buyer herein contained will survive the Closing and will not be deemed merged into the deed from Seller to BuyerFOREGOING.
Appears in 1 contract
Samples: Purchase and Sale Agreement (United Artists Theatre Circuit Inc /Md/)
As-Is Purchase. Section 34 of the Agreement is hereby deleted and replaced with the following: “AS-IS. BUYER IS PURCHASING THE PROPERTY “AS IS WHERE IS” IN ITS PRESENT CONDITION. BUYER XXXXX HAS THE OPPORTUNITY TO INSPECT THE PROPERTY AND DOCUMENTATION IN SELLER’S POSSESSION AS PROVIDED HEREIN. EXCEPT AS EXPRESSLY SET FORTH IN SECTION 9 ABOVE AND IN THE DEED, 33 AS AMENDED,
(A) SELLER MAKES NO REPRESENTATIONS OR WARRANTIES OR COVENANTSWARRANTIES, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED REGARDING THE PROPERTY; (B) BUYER TAKES THE PROPERTY “AS IS” AND WITH ALL FAULTS; (C) BUYER REPRESENTS AND WARRANTS TO SELLER THAT BUYER HAS SUFFICIENT EXPERIENCE AND EXPERTISE SUCH THAT IT IS REASONABLE FOR BUYER TO RELY ON ITS OWN PRE-CLOSING
(D) SELLER HEREBY DISCLAIMS, AND BUYER HEREBY WAIVES, ANY AND ALL REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR COVENANTS WITH RESPECT TO: IMPLIED, REGARDING (Ai) THE TITLE TO OR CONDITION OF THE PROPERTY OR ANY STRUCTURE OR IMPROVEMENTS THEREON, ACCESS THERETO PORTIONS THEREOF OR THE SUITABILITY OF THE PROPERTY FOR HABITATION OR FOR BUYER’S INTENDED USE; (Bii) THE DEVELOPMENT OF THE PROPERTY OR ANY APPLICABLE LAWS OR REGULATIONS INCLUDING WITHOUT LIMITATION ANY BUILDING, ZONING OR FIRE LAWS OR REGULATIONS OR WITH RESPECT TO COMPLIANCE THEREWITH OR WITH RESPECT TO THE EXISTENCE OF OR COMPLIANCE WITH ANY REQUIRED PERMITS, IF ANY, OF ANY GOVERNMENTAL AGENCY; (Ciii) THE AVAILABILITY OR EXISTENCE OF ANY WATER, SEWER OR UTILITIES, ANY RIGHTS THERETO, OR ANY WATER, SEWER OR UTILITY DISTRICTS; (Div) ACCESS TO ANY PUBLIC OR PRIVATE SANITARY SEWER OR DRAINAGE SYSTEM; (Ev) THE PRESENCE OF ANY HAZARDOUS SUBSTANCES AT AT, ON, OR UNDER THE PROPERTY OR IN ANY IMPROVEMENTS ON THE PROPERTY, INCLUDING WITHOUT LIMITATION ASBESTOS OR UREA-FORMALDEHYDE, OR THE PRESENCE OF ANY ENVIRONMENTALLY HAZARDOUS WASTES OR MATERIALS ON OR UNDER THE PROPERTY, OR (F) THE CONDITION OR FUTURE DEVELOPMENT ANY OTHER PROPERTY. BUYER UNCONDITIONALLY RELEASES AND FOREVER DISCHARGES SELLER AND ITS MEMBERS, MANAGERS, ATTORNEYS AND AGENTS FROM AND AGAINST ANY AND ALL CLAIMS, CAUSES OF ACTION, JUDGMENTS, DAMAGES, LOSSES, PENALTIES, FINES, LIABILITIES (INCLUDING STRICT LIABILITY), COSTS AND EXPENSES OF ANY KIND OR NATURE, BOTH KNOWN OR UNKNOWN, PRESENT AND FUTURE, FOR ANY MATTER RELATING DIRECTLY OR INDIRECTLY TO THE PROPERTY, INCLUDING THE TITLE TO, CONDITION OF OR DAMAGE TO THE PROPERTY, AND REGARDLESS OF FAULT OR NEGLIGENCE OF SELLER, EXCEPT FOR A MATERIAL BREACH OF SELLER’S REPRESENTATIONS AND WARRANTIES SET FORTH IN SECTION 9.1 above. to the FULL extent permitted by law, Buyer hereby agrees, represents and warrants that Buyer realizes and acknowledges that factual matters now unknown to it may have given or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses, and expenses which are presently unknown, unanticipated and unsuspected, and Buyer further agrees, represents and warrants that the waivers and releases herein have been negotiated and agreed upon IN light of that realization. The provisions of this paragraph will be deemed remade at the Closing and will survive thereafter. Furthermore, and without limiting the foregoing, Buyer hereby expressly waives and relinquishes any and all rights and remedies Buyer may now or hereafter have against Seller under any statute, the common law, whether known or unknown, with respect to any past, present or future presence or existence of hazardous materials on, under or about the Property or with respect to any past, present or future violations of any rules, regulations or laws, now or hereafter enacted, regulating or governing the use, handling, storage or disposal of hazardous materials, including, without limitation, (i) any and all rights Buyer may now or hereafter have to seek contribution from Seller under Section 113(f)(i) of the Comprehensive Environmental Response Compensation and Liability Act of 1980 (“CERCLA”), as amended by the Superfund Amendments and Reauthorization Act of 1986 (42 U.S.C.A. 9613), as the same may be further amended or replaced by any similar law, rule or regulation; (ii) any and all rights Buyer may now or hereafter have against Seller under the Washington Model Toxics Control Act or other Washington rules, regulations or laws relating to hazardous materials, as the same may be further amended or replaced by any similar law, rule or regulation; and (iii) any and all claims, whether know or unknown, now or hereafter existing, with respect to the Property under Section 107 of CERCLA (42 U.S.C.A. 9607). The waivers and releases by Buyer herein contained will survive the Closing and will not be deemed merged into the deed from Seller to BuyerOR
Appears in 1 contract
Samples: Commercial & Investment Real Estate Purchase and Sale Agreement
As-Is Purchase. BUYER REPRESENTS AND WARRANTS TO SELLER THAT BUYER HAS INDEPENDENTLY AND PERSONALLY INSPECTED OR, PRIOR TO THE EXPIRATION OF THE INSPECTION PERIOD, WILL INSPECT THE PROPERTY AND IMPROVEMENTS, IF ANY, AND THAT BUYER HAS ENTERED INTO THIS AGREEMENT BASED UPON SUCH PERSONAL EXAMINATION AND INSPECTION OR THE RIGHT THERETO. BUYER AGREES THAT UNLESS THIS AGREEMENT IS TERMINATED AS PROVIDED HEREIN, BUYER WILL ACCEPT THE PROPERTY, AT CLOSING, IN ITS THEN CONDITION AS-IS AND WITH ALL FAULTS, INCLUDING WITHOUT LIMITATION, THOSE FAULTS AND CONDITIONS SPECIFICALLY REFERENCED IN THIS AGREEMENT. THE PURCHASE PRICE HAS BEEN NEGOTIATED WITH THE MUTUAL UNDERSTANDING THAT BUYER IS PURCHASING THE PROPERTY “AS AS-IS WHERE IS” IN ITS PRESENT CONDITION. BUYER HAS THE OPPORTUNITY TO INSPECT AND THAT BUYER'S COSTS ASSOCIATED WITH DEVELOPMENT, OPERATION AND MANAGEMENT OF THE PROPERTY AND DOCUMENTATION IN SELLER’S POSSESSION ARE UNCERTAIN. IT IS NOT CONTEMPLATED THAT THE PURCHASE PRICE WILL BE INCREASED IF THESE COSTS PROVE TO BE LESS THAN EXPECTED NOR WILL THE PURCHASE PRICE BE REDUCED IF BUYER'S PLAN LEADS TO HIGHER COST PROJECTIONS. EXCEPT AS PROVIDED HEREIN. EXCEPT AS EXPRESSLY SET FORTH IN SECTION 9 ABOVE AND IN , THE DEEDSOLE REMEDY OF BUYER, SELLER MAKES NO REPRESENTATIONS OR WARRANTIES OR COVENANTS, EXPRESS OR IMPLIED, INCLUDING BUT IF BUYER IS NOT LIMITED REPRESENTATIONS OR WARRANTIES OR COVENANTS WITH RESPECT TO: (A) THE TITLE TO OR CONDITION OF THE PROPERTY OR ANY STRUCTURE OR IMPROVEMENTS THEREON, ACCESS THERETO OR THE SUITABILITY OF THE PROPERTY FOR HABITATION OR FOR BUYER’S INTENDED USE; (B) THE DEVELOPMENT OF THE PROPERTY OR ANY APPLICABLE BUILDING, ZONING OR FIRE LAWS OR REGULATIONS OR WITH RESPECT TO COMPLIANCE THEREWITH OR WITH RESPECT TO THE EXISTENCE OF OR COMPLIANCE SATISFIED WITH ANY REQUIRED PERMITS, IF ANY, ASPECT OF ANY GOVERNMENTAL AGENCY; (C) THE AVAILABILITY OR EXISTENCE OF ANY WATER, SEWER OR UTILITIES, ANY RIGHTS THERETO, OR ANY WATER, SEWER OR UTILITY DISTRICTS; (D) ACCESS TO ANY PUBLIC OR PRIVATE SANITARY SEWER OR DRAINAGE SYSTEM; (E) THE PRESENCE OF ANY HAZARDOUS SUBSTANCES AT THE PROPERTY OR IN ANY IMPROVEMENTS ON THE PROPERTY, INCLUDING WITHOUT LIMITATION ASBESTOS OR UREA-FORMALDEHYDE, OR THE PRESENCE OF ANY ENVIRONMENTALLY HAZARDOUS WASTES OR MATERIALS ON OR UNDER THE PROPERTY, OR (F) THE CONDITION OR FUTURE DEVELOPMENT ANY OTHER PROPERTY. BUYER UNCONDITIONALLY RELEASES AND FOREVER DISCHARGES SELLER AND ITS MEMBERS, MANAGERS, ATTORNEYS AND AGENTS FROM AND AGAINST ANY AND ALL CLAIMS, CAUSES OF ACTION, JUDGMENTS, DAMAGES, LOSSES, PENALTIES, FINES, LIABILITIES (INCLUDING STRICT LIABILITY), COSTS AND EXPENSES OF ANY KIND OR NATURE, BOTH KNOWN OR UNKNOWN, PRESENT AND FUTURE, FOR ANY MATTER RELATING DIRECTLY OR INDIRECTLY WILL BE TO TERMINATE THIS AGREEMENT AS PROVIDED HEREIN PRIOR TO THE PROPERTYEND OF THE INSPECTION PERIOD. IF ANY CONDITION PRECEDENT TO CLOSING IS NOT SATISFIED, INCLUDING BUYER'S SOLE REMEDY IS TO TERMINATE THIS AGREEMENT AND RECEIVE THE TITLE TO, CONDITION RETURN OF OR DAMAGE TO THE PROPERTY, AND REGARDLESS OF FAULT OR NEGLIGENCE OF SELLER, EXCEPT FOR A MATERIAL BREACH OF SELLER’S REPRESENTATIONS AND WARRANTIES SET FORTH IN SECTION 9.1 above. to the FULL extent permitted by law, Buyer hereby agrees, represents and warrants that Buyer realizes and acknowledges that factual matters now unknown to it may have given or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses, and expenses which are presently unknown, unanticipated and unsuspected, and Buyer further agrees, represents and warrants that the waivers and releases herein have been negotiated and agreed upon IN light of that realization. The provisions of this paragraph will be deemed remade at the Closing and will survive thereafter. Furthermore, and without limiting the foregoing, Buyer hereby expressly waives and relinquishes any and all rights and remedies Buyer may now or hereafter have against Seller under any statute, the common law, whether known or unknown, with respect to any past, present or future presence or existence of hazardous materials on, under or about the Property or with respect to any past, present or future violations of any rules, regulations or laws, now or hereafter enacted, regulating or governing the use, handling, storage or disposal of hazardous materials, including, without limitation, (i) any and all rights Buyer may now or hereafter have to seek contribution from Seller under Section 113(f)(i) of the Comprehensive Environmental Response Compensation and Liability Act of 1980 (“CERCLA”), as amended by the Superfund Amendments and Reauthorization Act of 1986 (42 U.S.C.A. 9613), as the same may be further amended or replaced by any similar law, rule or regulation; (ii) any and all rights Buyer may now or hereafter have against Seller under the Washington Model Toxics Control Act or other Washington rules, regulations or laws relating to hazardous materials, as the same may be further amended or replaced by any similar law, rule or regulation; and (iii) any and all claims, whether know or unknown, now or hereafter existing, with respect to the Property under Section 107 of CERCLA (42 U.S.C.A. 9607). The waivers and releases by Buyer herein contained will survive the Closing and will not be deemed merged into the deed from Seller to BuyerDEPOSIT.
Appears in 1 contract
As-Is Purchase. BUYER IS PURCHASING AND ITS REPRESENTATIVES, PRIOR TO THE PROPERTY “AS IS WHERE IS” IN ITS PRESENT CONDITION. BUYER HAS DATE OF CLOSING, WILL HAVE BEEN AFFORDED THE OPPORTUNITY TO INSPECT MAKE SUCH INSPECTIONS OF THE PROPERTY AND DOCUMENTATION MATTERS RELATED THERETO AS BUYER, AND ITS REPRESENTATIVES DESIRE. BUYER ACKNOWELDGES AND AGREES THAT THE PROPERTY IS TO BE SOLD TO AND ACCEPTED BY BUYER IN SELLER’S POSSESSION AN “AS PROVIDED HEREINIS” CONDITION WITH ALL FAULTS. EXCEPT AS EXPRESSLY SET FORTH IN SECTION 9 ABOVE AND IN THE DEED, SELLER MAKES NO REPRESENTATIONS REPRESENTATION OR WARRANTIES OR COVENANTS, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED REPRESENTATIONS OR WARRANTIES OR COVENANTS WITH RESPECT TO: (A) WARRANTY AS TO THE TITLE TO OR CONDITION CONDIITON OF THE PROPERTY OR ANY STRUCTURE ENVIRONMENTAL INFORMATION REGARDING THE PROPERTY. OTHER THAN AS PROVIDED IN SECTION 15—SELLER’S REPRESENTATIONS AND WARRANTIES, SELLER MAKES NO REPRESENTATION OR IMPROVEMENTS THEREONWARRANTY OF ANY KIND WHATSOEVER, ACCESS THERETO EITHER EXPRESS OR THE SUITABILITY OF THE PROPERTY FOR HABITATION OR FOR BUYER’S INTENDED USE; (B) THE DEVELOPMENT OF THE PROPERTY OR ANY APPLICABLE BUILDINGIMPLIED, ZONING OR FIRE LAWS OR REGULATIONS OR WITH RESPECT TO COMPLIANCE THEREWITH OR WITH RESPECT TO THE EXISTENCE PROPERTY; IN PARTICULAR, BUT WITHOUT LIMITATION, SELLER MAKES NO REPRESNTATIONS OR WARRANTIES WITH RESPECT TO THE USE, CONDITION, TITLE, OCCUPATION OR MANAGEMENT OF OR COMPLIANCE WITH ANY REQUIRED PERMITS, IF ANY, OF ANY GOVERNMENTAL AGENCY; (C) THE AVAILABILITY OR EXISTENCE OF ANY WATER, SEWER OR UTILITIES, ANY RIGHTS THERETO, OR ANY WATER, SEWER OR UTILITY DISTRICTS; (D) ACCESS TO ANY PUBLIC OR PRIVATE SANITARY SEWER OR DRAINAGE SYSTEM; (E) THE PRESENCE OF ANY HAZARDOUS SUBSTANCES AT THE PROPERTY OR IN ANY IMPROVEMENTS ON THE PROPERTY, INCLUDING WITHOUT LIMITATION ASBESTOS OR UREA-FORMALDEHYDE, OR THE PRESENCE OF ANY ENVIRONMENTALLY HAZARDOUS WASTES OR MATERIALS ON OR UNDER THE PROPERTY, OR COMPLIANCE WITH APPLICABLE STATUTES, LAWS, CODES, ORDINANCES, REGULATIONS, REQUIREMENTS, COVENANTS, CONDITIONS AND RESTRICTIONS (F) THE CONDITION WHETHER OR FUTURE DEVELOPMENT ANY OTHER PROPERTYNOT OF RECORD). BUYER UNCONDITIONALLY RELEASES ACKNOWLEDGES THAT IT IS ENTERING INTO THIS AGREEMENT ON THE BASIS OF BUYER’S OWN INVESTIGATION OF THE PHYSICAL AND FOREVER DISCHARGES SELLER AND ITS MEMBERS, MANAGERS, ATTORNEYS AND AGENTS FROM AND AGAINST ANY AND ALL CLAIMS, CAUSES ENVIRONMENTAL CONDITIONS OF ACTION, JUDGMENTS, DAMAGES, LOSSES, PENALTIES, FINES, LIABILITIES (INCLUDING STRICT LIABILITY), COSTS AND EXPENSES OF ANY KIND OR NATURE, BOTH KNOWN OR UNKNOWN, PRESENT AND FUTURE, FOR ANY MATTER RELATING DIRECTLY OR INDIRECTLY TO THE PROPERTY, INCLUDING THE TITLE TOSUBSURFACE CONDITIONS, CONDITION AND BUYER ASSUMES THE RISK THAT ADVERSE PHYSICAL AND ENVIRONMENTAL CONDITIONS MAY NOT HAVE BEEN REVEALED BY ITS INVESTIGATION. BUYER ACKNOWLEDGES THAT NOTWITHSTANDING ANY PRIOR OR CONTEMPORANEOUS ORAL OR WRITTEN REPRESENTATIONS, STATEMENTS, DOCUMENTS OR UNDERSTANDINGS, THIS AGREEMENT CONTITUTES THE ENTIRE UNDERSTANDING OF OR DAMAGE THE PARTIES WITH RESPECT TO THE PROPERTYSUBJECT MATTER HEREOF AND THE PURCHASE AND SALE OF THE PROPETY AND SUPERSEDES ANY SUCH PRIOR OR CONTEMPORANEOUS ORAL OR WRITTEN REPRESNTATIONS, AND REGARDLESS OF FAULT STATEMENTS, DOCUMENTS OR NEGLIGENCE OF SELLER, EXCEPT FOR A MATERIAL BREACH OF SELLER’S REPRESENTATIONS AND WARRANTIES SET FORTH IN SECTION 9.1 above. to the FULL extent permitted by law, Buyer hereby agrees, represents and warrants that Buyer realizes and acknowledges that factual matters now unknown to it may have given or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses, and expenses which are presently unknown, unanticipated and unsuspected, and Buyer further agrees, represents and warrants that the waivers and releases herein have been negotiated and agreed upon IN light of that realization. The provisions of this paragraph will be deemed remade at the Closing and will survive thereafter. Furthermore, and without limiting the foregoing, Buyer hereby expressly waives and relinquishes any and all rights and remedies Buyer may now or hereafter have against Seller under any statute, the common law, whether known or unknown, with respect to any past, present or future presence or existence of hazardous materials on, under or about the Property or with respect to any past, present or future violations of any rules, regulations or laws, now or hereafter enacted, regulating or governing the use, handling, storage or disposal of hazardous materials, including, without limitation, (i) any and all rights Buyer may now or hereafter have to seek contribution from Seller under Section 113(f)(i) of the Comprehensive Environmental Response Compensation and Liability Act of 1980 (“CERCLA”), as amended by the Superfund Amendments and Reauthorization Act of 1986 (42 U.S.C.A. 9613), as the same may be further amended or replaced by any similar law, rule or regulation; (ii) any and all rights Buyer may now or hereafter have against Seller under the Washington Model Toxics Control Act or other Washington rules, regulations or laws relating to hazardous materials, as the same may be further amended or replaced by any similar law, rule or regulation; and (iii) any and all claims, whether know or unknown, now or hereafter existing, with respect to the Property under Section 107 of CERCLA (42 U.S.C.A. 9607). The waivers and releases by Buyer herein contained will survive the Closing and will not be deemed merged into the deed from Seller to BuyerUNDERSTANDINGS.
Appears in 1 contract
Samples: Purchase and Sale Agreement
As-Is Purchase. BUYER IS PURCHASING Purchaser acknowledges that Purchaser will have independently and personally inspected the Property and that Purchaser has entered into this Agreement based upon its ability to make such examination and inspection. THE PROPERTY IS BEING SOLD IN AN “AS IS WHERE IS” IN ITS PRESENT CONDITION. BUYER HAS CONDITION AND “WITH ALL FAULTS” AS OF THE OPPORTUNITY TO INSPECT DATE OF THIS AGREEMENT AND AS OF THE PROPERTY AND DOCUMENTATION IN SELLER’S POSSESSION AS PROVIDED HEREINCLOSING DATE. EXCEPT AS EXPRESSLY SET FORTH IN SECTION 9 ABOVE HEREIN AND IN THE DOCUMENTS DELIVERED BY SELLER AT CLOSING, NO REPRESENTATIONS OR WARRANTIES HAVE BEEN MADE OR ARE MADE AND NO RESPONSIBILITY HAS BEEN OR IS ASSUMED BY SELLER OR BY ANY DIRECTOR, OFFICER, PERSON, FIRM, AGENT OR REPRESENTATIVE ACTING OR PURPORTING TO ACT ON BEHALF OF SELLER AS TO THE CONDITION OR REPAIR OF THE PROPERTY OR THE VALUE, EXPENSE OF OPERATION, OR INCOME POTENTIAL THEREOF OR AS TO ANY OTHER FACT OR CONDITION WHICH HAS OR MIGHT AFFECT THE PROPERTY OR THE CONDITION, REPAIR, VALUE, EXPENSE OF OPERATION OR INCOME POTENTIAL OF THE PROPERTY OR ANY PORTION THEREOF, INCLUDING, WITHOUT LIMITATION, (I) MATTERS OF TITLE (OTHER THAN THE SPECIAL WARRANTY OF TITLE SET FORTH IN THE DEED), (II) ENVIRONMENTAL MATTERS RELATING TO THE PROPERTY OR ANY PORTION THEREOF, (III) GEOLOGICAL CONDITIONS, INCLUDING, WITHOUT LIMITATION, SUBSURFACE CONDITIONS, (IV) DRAINAGE, (V) SOIL CONDITIONS, INCLUDING THE EXISTENCE OF INSTABILITY, PAST SOIL REPAIRS, SOIL ADDITIONS OR CONDITIONS OF SOIL FILL, OR THE SUFFICIENCY OF ANY UNDERSHORING, (VI) THE AVAILABILITY OF ANY UTILITIES TO THE PROPERTY OR ANY PORTION THEREOF INCLUDING, WITHOUT LIMITATION, WATER, SEWAGE, GAS AND ELECTRIC, (VII) USAGES OF ADJOINING PROPERTY, (VIII) ACCESS TO THE PROPERTY OR ANY PORTION THEREOF, (IX) THE VALUE, COMPLIANCE WITH THE PLANS AND SPECIFICATIONS, SIZE, LOCATION, AGE, USE, DESIGN, QUALITY, DESCRIPTION, SUITABILITY, STRUCTURAL INTEGRITY, OPERATION, TITLE TO, OR PHYSICAL OR FINANCIAL CONDITION OF THE PROPERTY OR ANY PORTION THEREOF, (X) THE EXISTENCE OR NON- EXISTENCE OF UNDERGROUND STORAGE TANKS, (XI) TAX CONSEQUENCES OR (XII) THE MERCHANTABILITY OF THE PROPERTY OR FITNESS OF THE PROPERTY FOR ANY PARTICULAR PURPOSE. THE PARTIES AGREE THAT ALL UNDERSTANDINGS AND AGREEMENTS HERETOFORE MADE BETWEEN THEM OR THEIR RESPECTIVE AGENTS OR REPRESENTATIVES ARE MERGED IN THIS AGREEMENT, OTHER THAN AS EXPRESSLY SET FORTH HEREIN, THE EXHIBITS ATTACHED HERETO, AND ANY DOCUMENT EXECUTED BY SELLER AND DELIVERED TO PURCHASER AT THE CLOSING, WHICH ALONE FULLY AND COMPLETELY EXPRESS THEIR AGREEMENT. THE PARTIES FURTHER AGREE THAT THIS AGREEMENT HAS BEEN ENTERED INTO AFTER FULL INVESTIGATION, OR WITH THE PARTIES SATISFIED WITH THE OPPORTUNITY AFFORDED FOR INVESTIGATION, NEITHER PARTY RELYING UPON ANY STATEMENT OR REPRESENTATION BY THE OTHER UNLESS SUCH STATEMENT OR REPRESENTATION IS SPECIFICALLY EMBODIED IN THIS AGREEMENT OR THE EXHIBITS ATTACHED HERETO, AND/OR ANY DOCUMENT EXECUTED BY SELLER AND DELIVERED TO PURCHASER AT THE CLOSING. SELLER MAKES NO REPRESENTATIONS OR WARRANTIES AS TO WHETHER THE PROPERTY CONTAINS ASBESTOS OR HARMFUL OR TOXIC SUBSTANCES OR PERTAINING TO THE EXTENT, LOCATION OR NATURE OF SAME. FURTHER, TO THE EXTENT THAT SELLER HAS PROVIDED OR HEREAFTER MAY PROVIDE TO PURCHASER INFORMATION FROM ANY INSPECTION, ENGINEERING OR ENVIRONMENTAL REPORTS CONCERNING ASBESTOS OR HARMFUL OR TOXIC SUBSTANCES, SELLER MAKES NO REPRESENTATIONS OR WARRANTIES OR COVENANTS, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED REPRESENTATIONS OR WARRANTIES OR COVENANTS WITH RESPECT TO: (A) THE TITLE TO OR CONDITION OF THE PROPERTY OR ANY STRUCTURE OR IMPROVEMENTS THEREON, ACCESS THERETO OR THE SUITABILITY OF THE PROPERTY FOR HABITATION OR FOR BUYER’S INTENDED USE; (B) THE DEVELOPMENT OF THE PROPERTY OR ANY APPLICABLE BUILDING, ZONING OR FIRE LAWS OR REGULATIONS OR WITH RESPECT TO COMPLIANCE THEREWITH OR WITH RESPECT TO THE EXISTENCE ACCURACY OR COMPLETENESS, METHODOLOGY OF PREPARATION OR COMPLIANCE WITH OTHERWISE CONCERNING THE CONTENTS OF SUCH REPORTS. PURCHASER ACKNOWLEDGES THAT SELLER HAS REQUESTED PURCHASER TO INSPECT FULLY THE PROPERTY AND INVESTIGATE ALL MATTERS RELEVANT THERETO AND, EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, THE EXHIBITS ATTACHED HERETO AND ANY REQUIRED PERMITS, IF ANY, OF ANY GOVERNMENTAL AGENCY; (C) THE AVAILABILITY OR EXISTENCE OF ANY WATER, SEWER OR UTILITIES, ANY RIGHTS THERETO, OR ANY WATER, SEWER OR UTILITY DISTRICTS; (D) ACCESS DOCUMENT EXECUTED BY SELLER AND DELIVERED TO ANY PUBLIC OR PRIVATE SANITARY SEWER OR DRAINAGE SYSTEM; (E) THE PRESENCE OF ANY HAZARDOUS SUBSTANCES PURCHASER AT THE PROPERTY CLOSING, TO RELY SOLELY UPON THE RESULTS OF PURCHASER’S OWN INSPECTIONS OR IN OTHER INFORMATION OBTAINED OR OTHERWISE AVAILABLE TO PURCHASER, RATHER THAN ANY IMPROVEMENTS ON INFORMATION THAT MAY HAVE BEEN PROVIDED BY SELLER TO PURCHASER. THE PROPERTY, INCLUDING WITHOUT LIMITATION ASBESTOS RISK THAT ADVERSE PHYSICAL AND ENVIRONMENTAL CONDITIONS MAY NOT HAVE BEEN REVEALED OR UREA-FORMALDEHYDE, OR THE PRESENCE OF ANY ENVIRONMENTALLY HAZARDOUS WASTES OR MATERIALS ON OR UNDER THE PROPERTY, OR (F) THE CONDITION OR FUTURE DEVELOPMENT ANY OTHER PROPERTYDISCOVERED AND MAY NOT BE DISCOVERABLE BY SUCH INVESTIGATIONS SHALL BE UPON AND WITH PURCHASER. BUYER UNCONDITIONALLY PURCHASER HEREBY WAIVES AND RELEASES AND FOREVER DISCHARGES SELLER AND ITS MEMBERSPARTNERS, MANAGERSAGENTS, ATTORNEYS REPRESENTATIVES, AFFILIATES, OFFICERS AND AGENTS EMPLOYEES (TOGETHER WITH SELLER, THE “SELLER RELATED PARTIES”) FROM ANY PRESENT OR FUTURE CLAIMS ARISING FROM OR RELATING TO THE PRESENCE OR ALLEGED PRESENCE OF ASBESTOS OR HARMFUL OR TOXIC SUBSTANCES IN, ON, UNDER OR ABOUT THE PROPERTY (EXCEPT TO THE EXTENT ANY SUCH CLAIM ARISES FROM AFFIRMATIVE ACTIONS ACTUALLY TAKEN BY SELLER DURING THE PERIOD THAT IT OWNED THE PROPERTY) INCLUDING, WITHOUT LIMITATION, ANY CLAIMS UNDER OR ON ACCOUNT OF (I) ANY FEDERAL, STATE OR LOCAL STATUTE, LAW, RULE, REGULATION, ORDINANCE, CODE, GUIDE, WRITTEN POLICY, DIRECTIVE AND AGAINST RULE OF COMMON LAW IN EFFECT APPLICABLE TO THE PROPERTY AND IN EACH CASE AS AMENDED, AND ANY JUDICIAL OR ADMINISTRATIVE ORDER, CONSENT DECREE OR JUDGMENT, RELATING TO (X) THE ENVIRONMENT OR NATURAL RESOURCES, (Y) ANY PETROLEUM OR PETROLEUM PRODUCTS, RADIOACTIVE MATERIALS, ASBESTOS IN ANY FORM, POLYCHLORINATED BIPHENYLS, AND, TO THE EXTENT ONLY IT EXISTS AT LEVELS CONSIDERED HAZARDOUS TO HUMAN HEALTH, RADON GAS OR (Z) ANY CHEMICALS, MATERIALS OR SUBSTANCES DEFINED AS OR INCLUDED IN THE DEFINITION OF “HAZARDOUS SUBSTANCES”, HAZARDOUS WASTE”, “HAZARDOUS MATERIALS”, “EXTREMELY HAZARDOUS SUBSTANCES”, “TOXIC SUBSTANCES”, “TOXIC POLLUTANTS”, “CONTAMINANTS” OR “POLLUTANTS” UNDER ANY APPLICABLE ENVIRONMENTAL LAWS INCLUDING, WITHOUT LIMITATION, THE COMPREHENSIVE ENVIRONMENTAL RESPONSE, COMPENSATION AND LIABILITY ACT, 42 U.S.C. § 9601 ET SEQ.; SOLID WASTE DISPOSAL ACT, 42 U.S.C. § 6901 ET SEQ.; THE FEDERAL WATER POLLUTION CONTROL ACT, 33 U.S.C. § 1251 ET SEQ.; THE TOXIC SUBSTANCES CONTROL ACT, 15 U.S.C. § 7401 ET SEQ.; THE CLEAN AIR ACT, 42 U.S.C. § 7401 ET SEQ.; THE SAFE DRINKING WATER ACT, 42 U.S.C. § 3803 ET SEQ.; THE OIL POLLUTION ACT OF 1990, 33 U.S.C. § 2701 ET SEQ.; FEDERAL INSECTICIDE, FUNGICIDE, AND RODENTICIDE ACT, 7 U.S.C. § 136 ET SEQ., AND THE REGULATIONS PROMULGATED PURSUANT THERETO AND ANY STATE AND LOCAL COUNTERPARTS OR SUBSTANTIAL EQUIVALENTS THEREOF, (II) THIS AGREEMENT OR (III) THE COMMON LAW. FURTHERMORE, PURCHASER HEREBY RELEASES THE SELLER RELATED PARTIES FROM ANY AND ALL CLAIMS, CAUSES OF ACTION, JUDGMENTSLOSSES, DAMAGES, LOSSES, PENALTIES, FINES, LIABILITIES (INCLUDING STRICT LIABILITY)LIABILITIES, COSTS AND EXPENSES OF WHICH PURCHASER OR ANY KIND PARTY RELATED TO OR NATURE, BOTH KNOWN AFFILIATED WITH PURCHASER HAS OR UNKNOWN, PRESENT AND FUTURE, FOR MAY HAVE ARISING FROM OR RELATED TO ANY MATTER RELATING DIRECTLY OR INDIRECTLY THING RELATED TO THE PROPERTY OR THE PHYSICAL CONDITION OF THE PROPERTY, ANY CONSTRUCTION DEFECTS AND ANY ERRORS OR OMISSIONS IN THE DESIGN OR CONSTRUCTION OF THE PROPERTY AND PURCHASER WILL NOT LOOK TO ANY OF THE SELLER RELATED PARTIES IN CONNECTION WITH THE FOREGOING FOR ANY REDRESS OR RELIEF. THIS RELEASE INCLUDES CLAIMS OF WHICH PURCHASER IS PRESENTLY UNAWARE OR WHICH PURCHASER DOES NOT PRESENTLY SUSPECT TO EXIST WHICH, IF KNOWN BY PURCHASER, WOULD MATERIALLY AFFECT PURCHASER’S RELEASE TO SELLER. THIS RELEASE WILL BE GIVEN FULL FORCE AND EFFECT ACCORDING TO EACH OF ITS EXPRESS TERMS AND PROVISIONS, INCLUDING THOSE RELATING TO UNKNOWN AND UNSUSPECTED CLAIMS, DAMAGES AND CAUSES OF ACTION. PURCHASER ACKNOWLEDGES THAT THE TITLE TOPURCHASE PRICE (AS HEREINAFTER DEFINED) REFLECTS THE “AS-IS” NATURE OF THIS SALE AND ANY FAULTS, CONDITION OF LIABILITIES, DEFECTS OR DAMAGE TO OTHER ADVERSE MATTERS THAT MAY BE ASSOCIATED WITH THE PROPERTY, . PURCHASER HAS FULLY REVIEWED THE DISCLAIMERS AND REGARDLESS OF FAULT OR NEGLIGENCE OF SELLER, EXCEPT FOR A MATERIAL BREACH OF SELLER’S REPRESENTATIONS AND WARRANTIES WAIVERS SET FORTH IN THIS AGREEMENT WITH ITS COUNSEL AND UNDERSTANDS THE SIGNIFICANCE AND EFFECT THEREOF. THE TERMS AND PROVISIONS OF THIS SECTION 9.1 above. to the FULL extent permitted by law, Buyer hereby agrees, represents and warrants that Buyer realizes and acknowledges that factual matters now unknown to it may have given or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses, and expenses which are presently unknown, unanticipated and unsuspected, and Buyer further agrees, represents and warrants that the waivers and releases herein have been negotiated and agreed upon IN light of that realization. The provisions of this paragraph will be deemed remade at the Closing and will survive thereafter. Furthermore, and without limiting the foregoing, Buyer hereby expressly waives and relinquishes any and all rights and remedies Buyer may now or hereafter have against Seller under any statute, the common law, whether known or unknown, with respect to any past, present or future presence or existence of hazardous materials on, under or about the Property or with respect to any past, present or future violations of any rules, regulations or laws, now or hereafter enacted, regulating or governing the use, handling, storage or disposal of hazardous materials, including, without limitation, (i) any and all rights Buyer may now or hereafter have to seek contribution from Seller under Section 113(f)(i) of the Comprehensive Environmental Response Compensation and Liability Act of 1980 (“CERCLA”), as amended by the Superfund Amendments and Reauthorization Act of 1986 (42 U.S.C.A. 9613), as the same may be further amended or replaced by any similar law, rule or regulation; (ii) any and all rights Buyer may now or hereafter have against Seller under the Washington Model Toxics Control Act or other Washington rules, regulations or laws relating to hazardous materials, as the same may be further amended or replaced by any similar law, rule or regulation; and (iii) any and all claims, whether know or unknown, now or hereafter existing, with respect to the Property under Section 107 of CERCLA (42 U.S.C.A. 9607). The waivers and releases by Buyer herein contained will survive the Closing and will not be deemed merged into the deed from Seller to Buyer2.7 SHALL SURVIVE THE CLOSING OR ANY TERMINATION OF THIS AGREEMENT.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Global Medical REIT Inc.)
As-Is Purchase. BUYER EXCEPT FOR SUCH SELLER REPRESENTATIONS AND WARRANTIES AS ARE EXPRESSLY SET FORTH IN THIS AGREEMENT OR ANY OTHER DOCUMENTS DELIVERED AT THE CLOSING HEREUNDER, PURCHASER IS PURCHASING ACQUIRING THE PROPERTY IN ITS “AS IS WHERE IS” IN ITS PRESENT CONDITION, WITH ALL FAULTS, AND WITHOUT ANY WARRANTY, EXPRESS, IMPLIED OR STATUTORY, ALL OF WHICH ARE HEREBY WAIVED AND DISCLAIMED BY PURCHASER. BUYER HAS THE OPPORTUNITY TO INSPECT THE PROPERTY AND DOCUMENTATION IN SELLER’S POSSESSION AS PROVIDED HEREIN. EXCEPT OTHER THAN AS EXPRESSLY SET FORTH IN SECTION 9 ABOVE AND THIS AGREEMENT OR IN ANY OTHER DOCUMENTS DELIVERED AT THE DEEDCLOSING HEREUNDER, NO SELLER MAKES NO RELATED PARTIES HAS MADE ANY REPRESENTATIONS OR WARRANTIES WARRANTIES, DIRECT OR COVENANTSINDIRECT, ORAL OR WRITTEN, EXPRESS OR IMPLIED, INCLUDING TO PURCHASER OR ANY AGENTS, REPRESENTATIVES, CONTRACTORS OR EMPLOYEES OF PURCHASER WITH RESPECT TO THE CONDITION OR CONSTRUCTION OF THE PROPERTY, ITS FITNESS FOR ANY PARTICULAR PURPOSE, ITS MERCHANTABILITY, ITS COMPLIANCE WITH ANY LAWS, ZONING REGULATIONS, OR OTHERWISE AND PURCHASER IS NOT AWARE OF AND DOES NOT RELY UPON ANY SUCH REPRESENTATION. PURCHASER ACKNOWLEDGES THAT THE INSPECTION PERIOD WILL HAVE AFFORDED PURCHASER THE OPPORTUNITY TO MAKE SUCH INSPECTIONS (OR HAVE SUCH INSPECTIONS MADE BY CONSULTANTS) AS IT DESIRES OF THE PROPERTY AND ALL FACTS RELEVANT TO ITS USE, INCLUDING, WITHOUT LIMITATION, THE INTERIOR, EXTERIOR, STRUCTURE, AND CONSTRUCTION OF ALL IMPROVEMENTS, IF ANY, AND THE CONDITION OF SOILS AND SUBSURFACES. EXCEPT FOR SUCH SELLER REPRESENTATIONS AND WARRANTIES AS ARE EXPRESSLY SET FORTH IN THIS AGREEMENT OR ANY OTHER DOCUMENTS DELIVERED AT THE CLOSING HEREUNDER, SELLER AND EACH PERSON ACTING OR PURPORTING TO ACT ON BEHALF OF SELLER HAS NOT, DOES NOT AND WILL NOT MAKE ANY REPRESENTATIONS OR WARRANTIES WITH REGARD TO (A) COMPLIANCE WITH ANY ENVIRONMENTAL LAWS OR LAND USE LAWS, RULES, REGULATIONS, ORDERS, OR REQUIREMENTS INCLUDING, BUT NOT LIMITED REPRESENTATIONS TO, THOSE PERTAINING TO THE HANDLING, GENERATING, TREATING, STORING OR WARRANTIES DISPOSING OF ANY HAZARDOUS SUBSTANCES OR COVENANTS WITH RESPECT TO: (A) THE TITLE TO OR CONDITION OF THE PROPERTY OR ANY STRUCTURE OR IMPROVEMENTS THEREON, ACCESS THERETO OR THE SUITABILITY OF THE PROPERTY FOR HABITATION OR FOR BUYER’S INTENDED USE; (B) THE DEVELOPMENT ABSENCE OF THE PROPERTY ANY CLAIMS, WHETHER ASSERTED OR ANY APPLICABLE BUILDINGUNASSERTED, ZONING OR FIRE LAWS OR REGULATIONS OR WITH RESPECT TO COMPLIANCE THEREWITH WITH ENVIRONMENTAL LAWS OR ENVIRONMENTAL CONDITIONS AT THE PROPERTY. EXCEPT WITH RESPECT TO THE EXISTENCE OF OR COMPLIANCE WITH ANY REQUIRED PERMITS, IF ANY, A BREACH BY SELLER OF ANY GOVERNMENTAL AGENCY; REPRESENTATION OR WARRANTY EXPRESSLY CONTAINED IN THIS AGREEMENT AND MATTERS FOR WHICH SELLER INDEMNIFIES PURCHASER IN THIS AGREEMENT (C) AND SUBJECT TO THE AVAILABILITY OR EXISTENCE TERMS OF ANY WATERTHIS AGREEMENT), SEWER OR UTILITIESPURCHASER HEREBY WAIVES, ANY RIGHTS THERETO, OR ANY WATER, SEWER OR UTILITY DISTRICTS; (D) ACCESS TO ANY PUBLIC OR PRIVATE SANITARY SEWER OR DRAINAGE SYSTEM; (E) THE PRESENCE OF ANY HAZARDOUS SUBSTANCES AT THE PROPERTY OR IN ANY IMPROVEMENTS ON THE PROPERTY, INCLUDING WITHOUT LIMITATION ASBESTOS OR UREA-FORMALDEHYDE, OR THE PRESENCE OF ANY ENVIRONMENTALLY HAZARDOUS WASTES OR MATERIALS ON OR UNDER THE PROPERTY, OR (F) THE CONDITION OR FUTURE DEVELOPMENT ANY OTHER PROPERTY. BUYER UNCONDITIONALLY RELEASES AND FOREVER DISCHARGES THE SELLER RELATED PARTIES OF AND ITS MEMBERS, MANAGERS, ATTORNEYS AND AGENTS FROM AND AGAINST ANY AND ALL CLAIMS, ACTIONS, CAUSES OF ACTION, JUDGMENTSDEMANDS, RIGHTS, DAMAGES, LOSSESLIABILITIES AND COSTS WHATSOEVER, PENALTIESDIRECT OR INDIRECT, FINES, LIABILITIES (INCLUDING STRICT LIABILITY), COSTS AND EXPENSES OF ANY KIND OR NATURE, BOTH KNOWN OR UNKNOWN, PRESENT WHICH PURCHASER NOW HAS OR WHICH MAY ARISE IN THE FUTURE AGAINST ANY OF THE SELLER RELATED PARTIES OR ANY SUCH OTHER PARTIES RELATED IN ANY WAY TO THE PROPERTY, INCLUDING, WITHOUT LIMITATION, ITS CONSTRUCTION, VALUE, COMPLIANCE WITH LAWS, ZONING REGULATIONS, COMPLIANCE WITH ENVIRONMENTAL LAWS OR THE PRESENCE OF HAZARDOUS SUBSTANCES OR IN ANY WAY RELATING TO THE PHYSICAL CONDITION OF THE PROPERTY. IN FURTHERANCE OF THE FOREGOING SENTENCE AND FUTURENOT IN LIMITATION THEREOF, EXCEPT AS OTHERWISE PERMITTED BY THE TERMS OF THIS AGREEMENT, PURCHASER HEREBY AGREES NOT TO ASSERT ANY CLAIM FOR ANY MATTER CONTRIBUTION, COST, RECOVERY OR OTHERWISE AGAINST THE SELLER RELATED PARTIES (WHETHER ARISING UNDER STATUTORY LAW, COMMON LAW, FEDERAL LAW, STATE LAW OR OTHERWISE) RELATING DIRECTLY OR INDIRECTLY TO THE PROPERTY, INCLUDING THE TITLE TO, PHYSICAL CONDITION OF OR DAMAGE TO THE PROPERTY, INCLUDING, WITHOUT LIMITATION, THE EXISTENCE OF OIL, LEAD PAINT, ASBESTOS, OR HAZARDOUS MATERIALS OR SUBSTANCES ON, OR THE ENVIRONMENTAL CONDITION OF, THE PROPERTY, WHETHER KNOWN OR UNKNOWN. NOTWITHSTANDING THE FOREGOING, PURCHASER’S RELEASE OF SELLER AND REGARDLESS THE SELLER RELATED PARTIES IN THIS SECTION 6 DOES NOT APPLY TO ANY CONTRIBUTION CLAIMS WHICH MAY ARISE FROM A THIRD PARTY CLAIM ASSERTED AGAINST PURCHASER AFTER CLOSING DUE TO AN ACT OF FAULT SELLER OCCURRING PRIOR TO CLOSING. THE PROVISIONS OF THIS SECTION 6 SHALL SURVIVE THE CLOSING OR NEGLIGENCE TERMINATION OF SELLER, EXCEPT FOR A MATERIAL BREACH OF SELLER’S REPRESENTATIONS AND WARRANTIES SET FORTH IN SECTION 9.1 above. to the FULL extent permitted by law, Buyer hereby agrees, represents and warrants that Buyer realizes and acknowledges that factual matters now unknown to it may have given or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses, and expenses which are presently unknown, unanticipated and unsuspected, and Buyer further agrees, represents and warrants that the waivers and releases herein have been negotiated and agreed upon IN light of that realization. The provisions of this paragraph will be deemed remade at the Closing and will survive thereafter. Furthermore, and without limiting the foregoing, Buyer hereby expressly waives and relinquishes any and all rights and remedies Buyer may now or hereafter have against Seller under any statute, the common law, whether known or unknown, with respect to any past, present or future presence or existence of hazardous materials on, under or about the Property or with respect to any past, present or future violations of any rules, regulations or laws, now or hereafter enacted, regulating or governing the use, handling, storage or disposal of hazardous materials, including, without limitation, (i) any and all rights Buyer may now or hereafter have to seek contribution from Seller under Section 113(f)(i) of the Comprehensive Environmental Response Compensation and Liability Act of 1980 (“CERCLA”), as amended by the Superfund Amendments and Reauthorization Act of 1986 (42 U.S.C.A. 9613), as the same may be further amended or replaced by any similar law, rule or regulation; (ii) any and all rights Buyer may now or hereafter have against Seller under the Washington Model Toxics Control Act or other Washington rules, regulations or laws relating to hazardous materials, as the same may be further amended or replaced by any similar law, rule or regulation; and (iii) any and all claims, whether know or unknown, now or hereafter existing, with respect to the Property under Section 107 of CERCLA (42 U.S.C.A. 9607). The waivers and releases by Buyer herein contained will survive the Closing and will not be deemed merged into the deed from Seller to BuyerTHIS AGREEMENT.
Appears in 1 contract
As-Is Purchase. BUYER REPRESENTS AND WARRANTS TO SELLER THAT BUYER HAS INDEPENDENTLY AND PERSONALLY INSPECTED OR, PRIOR TO THE EXERCISE OF THE OPTION, WILL INSPECT THE PROPERTY AND IMPROVEMENTS, IF ANY, AND THAT BUYER HAS ENTERED INTO THIS AGREEMENT BASED UPON SUCH PERSONAL EXAMINATION AND INSPECTION OR THE RIGHT THERETO. BUYER AGREES THAT IF BUYER EXERCISES THE OPTION AS PROVIDED HEREIN, BUYER WILL ACCEPT THE PROPERTY, AT CLOSING, IN ITS THEN CONDITION AS-IS AND WITH ALL FAULTS, INCLUDING WITHOUT LIMITATION, THOSE FAULTS AND CONDITIONS SPECIFICALLY REFERENCED IN THIS AGREEMENT. THE PURCHASE PRICE HAS BEEN NEGOTIATED WITH THE MUTUAL UNDERSTANDING THAT BUYER IS PURCHASING THE PROPERTY “AS AS-IS WHERE IS” IN ITS PRESENT CONDITION. BUYER HAS THE OPPORTUNITY TO INSPECT AND THAT BUYER'S COSTS ASSOCIATED WITH DEVELOPMENT, OPERATION AND MANAGEMENT OF THE PROPERTY AND DOCUMENTATION IN SELLER’S POSSESSION ARE UNCERTAIN. IT IS NOT CONTEMPLATED THAT THE PURCHASE PRICE WILL BE INCREASED IF THESE COSTS PROVE TO BE LESS THAN EXPECTED NOR WILL THE PURCHASE PRICE BE REDUCED IF BUYER'S PLAN LEADS TO HIGHER COST PROJECTIONS. EXCEPT AS PROVIDED HEREIN. EXCEPT AS EXPRESSLY SET FORTH IN SECTION 9 ABOVE AND IN , THE DEEDSOLE REMEDY OF BUYER, SELLER MAKES NO REPRESENTATIONS OR WARRANTIES OR COVENANTS, EXPRESS OR IMPLIED, INCLUDING BUT IF BUYER IS NOT LIMITED REPRESENTATIONS OR WARRANTIES OR COVENANTS WITH RESPECT TO: (A) THE TITLE TO OR CONDITION OF THE PROPERTY OR ANY STRUCTURE OR IMPROVEMENTS THEREON, ACCESS THERETO OR THE SUITABILITY OF THE PROPERTY FOR HABITATION OR FOR BUYER’S INTENDED USE; (B) THE DEVELOPMENT OF THE PROPERTY OR ANY APPLICABLE BUILDING, ZONING OR FIRE LAWS OR REGULATIONS OR WITH RESPECT TO COMPLIANCE THEREWITH OR WITH RESPECT TO THE EXISTENCE OF OR COMPLIANCE SATISFIED WITH ANY REQUIRED PERMITS, IF ANY, ASPECT OF ANY GOVERNMENTAL AGENCY; (C) THE AVAILABILITY OR EXISTENCE OF ANY WATER, SEWER OR UTILITIES, ANY RIGHTS THERETO, OR ANY WATER, SEWER OR UTILITY DISTRICTS; (D) ACCESS TO ANY PUBLIC OR PRIVATE SANITARY SEWER OR DRAINAGE SYSTEM; (E) THE PRESENCE OF ANY HAZARDOUS SUBSTANCES AT THE PROPERTY OR IN ANY IMPROVEMENTS ON THE PROPERTY, INCLUDING WITHOUT LIMITATION ASBESTOS OR UREA-FORMALDEHYDE, OR WILL BE NOT TO EXERCISE THE PRESENCE OF ANY ENVIRONMENTALLY HAZARDOUS WASTES OR MATERIALS ON OR UNDER THE PROPERTY, OR (F) THE CONDITION OR FUTURE DEVELOPMENT ANY OTHER PROPERTY. BUYER UNCONDITIONALLY RELEASES AND FOREVER DISCHARGES SELLER AND ITS MEMBERS, MANAGERS, ATTORNEYS AND AGENTS FROM AND AGAINST ANY AND ALL CLAIMS, CAUSES OF ACTION, JUDGMENTS, DAMAGES, LOSSES, PENALTIES, FINES, LIABILITIES (INCLUDING STRICT LIABILITY), COSTS AND EXPENSES OF ANY KIND OR NATURE, BOTH KNOWN OR UNKNOWN, PRESENT AND FUTURE, FOR ANY MATTER RELATING DIRECTLY OR INDIRECTLY TO THE PROPERTY, INCLUDING THE TITLE TO, CONDITION OF OR DAMAGE TO THE PROPERTY, AND REGARDLESS OF FAULT OR NEGLIGENCE OF SELLER, EXCEPT FOR A MATERIAL BREACH OF SELLER’S REPRESENTATIONS AND WARRANTIES SET FORTH IN SECTION 9.1 above. to the FULL extent permitted by law, Buyer hereby agrees, represents and warrants that Buyer realizes and acknowledges that factual matters now unknown to it may have given or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses, and expenses which are presently unknown, unanticipated and unsuspected, and Buyer further agrees, represents and warrants that the waivers and releases herein have been negotiated and agreed upon IN light of that realization. The provisions of this paragraph will be deemed remade at the Closing and will survive thereafter. Furthermore, and without limiting the foregoing, Buyer hereby expressly waives and relinquishes any and all rights and remedies Buyer may now or hereafter have against Seller under any statute, the common law, whether known or unknown, with respect to any past, present or future presence or existence of hazardous materials on, under or about the Property or with respect to any past, present or future violations of any rules, regulations or laws, now or hereafter enacted, regulating or governing the use, handling, storage or disposal of hazardous materials, including, without limitation, (i) any and all rights Buyer may now or hereafter have to seek contribution from Seller under Section 113(f)(i) of the Comprehensive Environmental Response Compensation and Liability Act of 1980 (“CERCLA”), as amended by the Superfund Amendments and Reauthorization Act of 1986 (42 U.S.C.A. 9613), as the same may be further amended or replaced by any similar law, rule or regulation; (ii) any and all rights Buyer may now or hereafter have against Seller under the Washington Model Toxics Control Act or other Washington rules, regulations or laws relating to hazardous materials, as the same may be further amended or replaced by any similar law, rule or regulation; and (iii) any and all claims, whether know or unknown, now or hereafter existing, with respect to the Property under Section 107 of CERCLA (42 U.S.C.A. 9607). The waivers and releases by Buyer herein contained will survive the Closing and will not be deemed merged into the deed from Seller to BuyerOPTION.
Appears in 1 contract
Samples: Purchase Option Agreement (Brandywine Realty Trust)
As-Is Purchase. BUYER IS PURCHASING EXCEPT FOR THE EXPRESS REPRESENTATIONS AND WARRANTIES OF SELLER SET FORTH IN THIS AGREEMENT AND SELLER’S WARRANTY OF TITLE CONTAINED IN THE SPECIAL WARRANTY DEED, SELLER HEREBY SPECIFICALLY DISCLAIMS ANY WARRANTY OR REPRESENTATION, ORAL OR WRITTEN, PAST, PRESENT OR FUTURE, OF, AS TO, OR CONCERNING (i) THE NATURE OR CONDITION OF THE PROPERTY, INCLUDING WITHOUT LIMITATION, (A) THE WATER, SOIL AND GEOLOGY THEREIN, (B) THE SUITABILITY THEREOF FOR ANY PARTICULAR PURPOSE, AND (C) THE EXISTENCE OF ANY ENVIRONMENTAL HAZARDS OR CONDITIONS ON OR IN THE PROPERTY; AND (ii) THE COMPLIANCE OF THE PROPERTY OR ITS OPERATION WITH THE LAWS, ORDINANCES OR REGULATIONS OF ANY GOVERNMENTAL AUTHORITY. PURCHASER ACKNOWLEDGES THAT IT WILL INSPECT THE PROPERTY AND, EXCEPT FOR THE REPRESENTATIONS AND WARRANTIES EXPRESSLY PROVIDED HEREIN AND SELLER’S WARRANTY OF TITLE CONTAINED IN THE SPECIAL WARRANTY DEED, PURCHASER WILL RELY SOLELY ON ITS OWN INVESTIGATION OF THE PROPERTY AND NOT ON ANY INFORMATION PROVIDED OR TO BE PROVIDED BY SELLER. THE SALE OF THE PROPERTY AS PROVIDED FOR HEREIN IS MADE ON AN “AS IS IS,” ‘WHERE IS” IN ITS PRESENT CONDITION. BUYER HAS THE OPPORTUNITY TO INSPECT THE PROPERTY AND DOCUMENTATION IN WITH ALL FAULTS BASIS, AND PURCHASER EXPRESSLY ACKNOWLEDGES AND AGREES THAT, EXCEPT AS OTHERWISE SPECIFICALLY STATED HEREIN AND SELLER’S POSSESSION AS PROVIDED HEREIN. EXCEPT AS EXPRESSLY SET FORTH IN SECTION 9 ABOVE AND WARRANTY OF TITLE CONTAINED IN THE SPECIAL WARRANTY DEED, SELLER MAKES NO REPRESENTATIONS WARRANTY OR WARRANTIES REPRESENTATION, EXPRESS, IMPLIED OR COVENANTSARISING BY OPERATION OF LAW, EXPRESS OR IMPLIEDINCLUDING, INCLUDING BUT NOT LIMITED REPRESENTATIONS OR WARRANTIES OR COVENANTS WITH RESPECT TO: (A) THE TITLE TO OR CONDITION OF THE PROPERTY OR ANY STRUCTURE OR IMPROVEMENTS THEREON, ACCESS THERETO OR THE SUITABILITY OF THE PROPERTY FOR HABITATION OR FOR BUYER’S INTENDED USE; (B) THE DEVELOPMENT OF THE PROPERTY OR ANY APPLICABLE BUILDING, ZONING OR FIRE LAWS OR REGULATIONS OR WITH RESPECT TO COMPLIANCE THEREWITH OR WITH RESPECT TO THE EXISTENCE OF OR COMPLIANCE WITH ANY REQUIRED PERMITS, IF ANY, OF ANY GOVERNMENTAL AGENCY; (C) THE AVAILABILITY OR EXISTENCE OF ANY WATER, SEWER OR UTILITIES, ANY RIGHTS THERETOWARRANTY OF CONDITION, HABITABILITY, MERCHANTABILITY, PROFITABILITY, TENANTABILITY OR ANY WATER, SEWER OR UTILITY DISTRICTS; (D) ACCESS TO ANY PUBLIC OR PRIVATE SANITARY SEWER OR DRAINAGE SYSTEM; (E) THE PRESENCE OF ANY HAZARDOUS SUBSTANCES AT THE PROPERTY OR IN ANY IMPROVEMENTS ON THE PROPERTY, INCLUDING WITHOUT LIMITATION ASBESTOS OR UREA-FORMALDEHYDE, OR THE PRESENCE OF ANY ENVIRONMENTALLY HAZARDOUS WASTES OR MATERIALS ON OR UNDER THE PROPERTY, OR (F) THE CONDITION OR FUTURE DEVELOPMENT ANY OTHER PROPERTY. BUYER UNCONDITIONALLY RELEASES AND FOREVER DISCHARGES SELLER AND ITS MEMBERS, MANAGERS, ATTORNEYS AND AGENTS FROM AND AGAINST ANY AND ALL CLAIMS, CAUSES OF ACTION, JUDGMENTS, DAMAGES, LOSSES, PENALTIES, FINES, LIABILITIES (INCLUDING STRICT LIABILITY), COSTS AND EXPENSES OF ANY KIND OR NATURE, BOTH KNOWN OR UNKNOWN, PRESENT AND FUTURE, FOR ANY MATTER RELATING DIRECTLY OR INDIRECTLY TO THE PROPERTY, INCLUDING THE TITLE TO, CONDITION OF OR DAMAGE TO THE PROPERTY, AND REGARDLESS OF FAULT OR NEGLIGENCE OF SELLER, EXCEPT FITNESS FOR A MATERIAL BREACH PARTICULAR PURPOSE. THE TERMS AND PROVISIONS OF SELLER’S REPRESENTATIONS THIS SECTION 5.5 SHALL SURVIVE CLOSING AND WARRANTIES SET FORTH IN SECTION 9.1 above. to the FULL extent permitted by law, Buyer hereby agrees, represents and warrants that Buyer realizes and acknowledges that factual matters now unknown to it may have given or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses, and expenses which are presently unknown, unanticipated and unsuspected, and Buyer further agrees, represents and warrants that the waivers and releases herein have been negotiated and agreed upon IN light of that realization. The provisions of this paragraph will be deemed remade at the Closing and will survive thereafter. Furthermore, and without limiting the foregoing, Buyer hereby expressly waives and relinquishes any and all rights and remedies Buyer may now or hereafter have against Seller under any statute, the common law, whether known or unknown, with respect to any past, present or future presence or existence of hazardous materials on, under or about the Property or with respect to any past, present or future violations of any rules, regulations or laws, now or hereafter enacted, regulating or governing the use, handling, storage or disposal of hazardous materials, including, without limitation, (i) any and all rights Buyer may now or hereafter have to seek contribution from Seller under Section 113(f)(i) of the Comprehensive Environmental Response Compensation and Liability Act of 1980 (“CERCLA”), as amended by the Superfund Amendments and Reauthorization Act of 1986 (42 U.S.C.A. 9613), as the same may be further amended or replaced by any similar law, rule or regulation; (ii) any and all rights Buyer may now or hereafter have against Seller under the Washington Model Toxics Control Act or other Washington rules, regulations or laws relating to hazardous materials, as the same may be further amended or replaced by any similar law, rule or regulation; and (iii) any and all claims, whether know or unknown, now or hereafter existing, with respect to the Property under Section 107 of CERCLA (42 U.S.C.A. 9607). The waivers and releases by Buyer herein contained will survive the Closing and will not be deemed merged into the deed from Seller to BuyerNOT MERGE WITH THE DEED.
Appears in 1 contract
As-Is Purchase. BUYER IS PURCHASING (a) PURCHASER HEREBY ACKNOWLEDGES, REPRESENTS, WARRANTS, COVENANTS AND AGREES THAT AS A MATERIAL INDUCEMENT TO SELLER TO EXECUTE AND ACCEPT THIS AGREEMENT AND IN CONSIDERATION OF THE PERFORMANCE BY SELLER OF ITS DUTIES AND OBLIGATIONS UNDER THIS AGREEMENT, THE SALE OF THE PROPERTY HEREUNDER IS AND WILL BE MADE ON AN “AS IS IS, WHERE IS, AND WITH ALL FAULTS” IN ITS PRESENT CONDITION. BUYER HAS THE OPPORTUNITY TO INSPECT THE PROPERTY AND DOCUMENTATION IN SELLER’S POSSESSION AS PROVIDED HEREIN. BASIS, EXCEPT AS OTHERWISE EXPRESSLY SET FORTH PROVIDED IN SECTION 9 ABOVE THIS ARTICLE 3, AND THAT EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THE DEEDTHIS ARTICLE 3, SELLER MAKES NO REPRESENTATIONS OR HAS NOT MADE, DOES NOT MAKE AND SPECIFICALLY NEGATES AND DISCLAIMS ANY REPRESENTATIONS, WARRANTIES OR COVENANTSGUARANTIES OF ANY KIND OR CHARACTER WHATSOEVER, WHETHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED REPRESENTATIONS ORAL OR WARRANTIES WRITTEN, PAST, PRESENT, FUTURE OR COVENANTS WITH RESPECT OTHERWISE, OF, AS TO: (A) THE TITLE TO OR CONDITION OF THE PROPERTY OR ANY STRUCTURE OR IMPROVEMENTS THEREON, ACCESS THERETO OR THE SUITABILITY OF THE PROPERTY FOR HABITATION OR FOR BUYER’S INTENDED USE; (B) THE DEVELOPMENT OF THE PROPERTY OR ANY APPLICABLE BUILDING, ZONING OR FIRE LAWS OR REGULATIONS OR WITH RESPECT TO COMPLIANCE THEREWITH CONCERNING OR WITH RESPECT TO THE PROPERTY, INCLUDING WITHOUT LIMITATION: (1) THE EXISTENCE OF HAZARDOUS MATERIALS UPON THE REAL PROPERTY OR ANY PORTION THEREOF; (2) GEOLOGICAL CONDITIONS, INCLUDING, WITHOUT LIMITATION, SUBSIDENCE, SUBSURFACE CONDITIONS, WATER TABLE, UNDERGROUND WATER RESERVOIRS, LIMITATIONS REGARDING THE WITHDRAWAL OF WATER AND FAULTING; (3) WHETHER OR NOT AND TO THE EXTENT TO WHICH THE REAL PROPERTY OR ANY PORTION THEREOF IS AFFECTED BY ANY STREAM (SURFACE OR UNDERGROUND), BODY OF WATER, FLOOD PRONE AREA, FLOOD PLAIN, FLOODWAY OR SPECIAL FLOOD HAZARD; (4) DRAINAGE; (5) SOIL CONDITIONS, INCLUDING THE EXISTENCE OF INSTABILITY, PAST SOIL REPAIRS, SOIL ADDITIONS OR CONDITIONS OF SOIL FILL, OR SUSCEPTIBILITY TO LANDSLIDES, OR THE SUFFICIENCY OF ANY UNDERSHORING; (6) USAGES OF ADJOINING PROPERTIES; (7) THE VALUE, COMPLIANCE WITH THE PLANS AND SPECIFICATIONS, SIZE, LOCATION, AGE, USE, DESIGN, QUALITY, DESCRIPTION, DURABILITY, STRUCTURAL INTEGRITY, OPERATION, TITLE TO, OR PHYSICAL OR FINANCIAL CONDITION OF THE REAL PROPERTY OR ANY REQUIRED PERMITSPORTION THEREOF, OR ANY RIGHTS OR CLAIMS ON OR AFFECTING OR PERTAINING TO THE REAL PROPERTY OR ANY PART THEREOF INCLUDING, WITHOUT LIMITATION, WHETHER OR NOT THE IMPROVEMENTS COMPLY WITH THE REQUIREMENTS OF THE AMERICANS WITH DISABILITIES ACT, THE FAIR HOUSING ACT AND/OR RELATED REGULATIONS; (8) THE PRESENCE OF HAZARDOUS MATERIALS IN, ON, UNDER OR IN THE VICINITY OF THE REAL PROPERTY; (9) THE SQUARE FOOTAGE OF THE LAND OR THE IMPROVEMENTS; (10) IMPROVEMENTS AND INFRASTRUCTURE, IF ANY, ; (11) DEVELOPMENT RIGHTS AND ENTITLEMENTS; (12) WATER OR WATER RIGHTS; (13) THE DEVELOPMENT POTENTIAL FOR THE PROPERTY; (14) THE ABILITY OF PURCHASER TO REZONE THE PROPERTY OR CHANGE THE USE OF THE PROPERTY; (15) THE ABILITY OF PURCHASER TO ACQUIRE ADJACENT PROPERTIES; (16) THE EXISTENCE AND POSSIBLE LOCATION OF ANY GOVERNMENTAL AGENCYUNDERGROUND UTILITIES; (17) THE EXISTENCE AND POSSIBLE LOCATION OF ANY ENCROACHMENTS; (18) WHETHER THE IMPROVEMENTS WERE BUILT, IN WHOLE OR IN PART, IN COMPLIANCE WITH APPLICABLE BUILDING CODES; (19) THE STATUS OF ANY LIFE-SAFETY SYSTEMS IN THE IMPROVEMENTS; (20) THE CHARACTER OF THE NEIGHBORHOOD IN WHICH THE REAL PROPERTY IS SITUATED; (21) THE CONDITION OR USE OF THE PROPERTY OR COMPLIANCE OF THE PROPERTY WITH ANY OR ALL PAST, PRESENT OR FUTURE FEDERAL, STATE OR LOCAL ORDINANCES, RULES, REGULATIONS OR LAWS, BUILDING, FIRE OR ZONING ORDINANCES, CODES OR OTHER SIMILAR LAWS; (22) THE MERCHANTABILITY OF THE PROPERTY OR FITNESS OF THE PROPERTY FOR ANY PARTICULAR PURPOSE (PURCHASER AFFIRMING THAT PURCHASER HAS NOT RELIED ON SELLER’S SKILL OR JUDGMENT TO SELECT OR FURNISH THE PROPERTY FOR ANY PARTICULAR PURPOSE, AND THAT SELLER MAKES NO WARRANTY THAT THE PROPERTY IS FIT FOR ANY PARTICULAR PURPOSE); OR (23) WHETHER THE SELLER DELIVERIES DELIVERED TO PURCHASER HEREUNDER CONSTITUTE ALL MATERIAL OR IMMATERIAL DOCUMENTS IN SELLER’S POSSESSION RELATING TO THE PROPERTY.
(b) PURCHASER ACKNOWLEDGES THAT AS OF THE EFFECTIVE DATE AND OTHER THAN AS STATED IN SECTION 2.2(A) ABOVE, PURCHASER SHALL HAVE COMPLETED ALL PHYSICAL AND FINANCIAL EXAMINATIONS RELATING TO THE ACQUISITION OF THE PROPERTY HEREUNDER AND WILL ACQUIRE THE SAME SOLELY ON THE BASIS OF SUCH EXAMINATIONS AND THE TITLE INSURANCE PROTECTION FOR THE REAL PROPERTY AFFORDED BY PURCHASER’S TITLE POLICY AND NOT ON ANY INFORMATION PROVIDED OR TO BE PROVIDED BY SELLER EXCEPT FOR REPRESENTATIONS AND WARRANTIES OTHERWISE EXPRESSLY PROVIDED IN THIS ARTICLE 3. PURCHASER FURTHER ACKNOWLEDGES AND AGREES THAT ANY INFORMATION PROVIDED OR TO BE PROVIDED WITH RESPECT TO THE PROPERTY WAS OBTAINED FROM A VARIETY OF SOURCES AND THAT SELLER HAS NOT MADE ANY INDEPENDENT INVESTIGATION OR VERIFICATION OF SUCH INFORMATION AND MAKES NO REPRESENTATIONS AS TO THE ACCURACY OR COMPLETENESS OF SUCH INFORMATION EXCEPT FOR REPRESENTATIONS AND WARRANTIES OTHERWISE EXPRESSLY PROVIDED IN THIS ARTICLE 3. SUBJECT TO THE REPRESENTATIONS AND WARRANTIES EXPRESSLY PROVIDED BY SELLER IN THIS ARTICLE 3, SELLER SHALL NOT BE LIABLE FOR ANY NEGLIGENT MISREPRESENTATION OR ANY FAILURE TO INVESTIGATE THE PROPERTY NOR SHALL SELLER BE BOUND IN ANY MANNER BY ANY VERBAL OR WRITTEN STATEMENTS, REPRESENTATIONS, APPRAISALS, ENVIRONMENTAL ASSESSMENT REPORTS, OR OTHER INFORMATION PERTAINING TO THE PROPERTY OR THE OPERATION THEREOF, FURNISHED BY SELLER, OR BY ANY REAL ESTATE BROKER, AGENT, REPRESENTATIVE, EMPLOYEE, SERVANT OR OTHER PERSON ACTING ON SELLER’S BEHALF.
(c) EXCEPT FOR ANY BREACH OF ANY SURVIVING SELLER’S OBLIGATIONS UNDER THIS AGREEMENT, THE CLOSING OF THE PURCHASE OF THE PROPERTY BY PURCHASER HEREUNDER SHALL BE CONCLUSIVE EVIDENCE THAT: (A) PURCHASER HAS FULLY AND COMPLETELY INSPECTED (OR HAS CAUSED TO BE FULLY AND COMPLETELY INSPECTED) THE PROPERTY; (B) PURCHASER ACCEPTS THE PROPERTY AS BEING IN GOOD AND SATISFACTORY CONDITION AND SUITABLE FOR PURCHASER’S PURPOSES; AND (C) THE AVAILABILITY OR EXISTENCE OF ANY WATERPROPERTY FULLY COMPLIES WITH SELLER’S COVENANTS AND OBLIGATIONS HEREUNDER.
(d) Except for claims for Seller’s breach of any surviving obligations under this Agreement, SEWER OR UTILITIESPurchaser for itself and on behalf of each of its successors and assigns (collectively, ANY RIGHTS THERETOthe “Releasors”) by this general release of known and unknown claims (this “Release”) hereby irrevocably and unconditionally releases and forever discharges Seller, OR ANY WATERits affiliates (including without limitation CP Construction West, SEWER OR UTILITY DISTRICTS; (D) ACCESS TO ANY PUBLIC OR PRIVATE SANITARY SEWER OR DRAINAGE SYSTEM; (E) THE PRESENCE OF ANY HAZARDOUS SUBSTANCES AT THE PROPERTY OR IN ANY IMPROVEMENTS ON THE PROPERTY, INCLUDING WITHOUT LIMITATION ASBESTOS OR UREA-FORMALDEHYDE, OR THE PRESENCE OF ANY ENVIRONMENTALLY HAZARDOUS WASTES OR MATERIALS ON OR UNDER THE PROPERTY, OR (F) THE CONDITION OR FUTURE DEVELOPMENT ANY OTHER PROPERTY. BUYER UNCONDITIONALLY RELEASES AND FOREVER DISCHARGES SELLER AND ITS MEMBERS, MANAGERS, ATTORNEYS AND AGENTS FROM AND AGAINST ANY AND ALL CLAIMS, CAUSES OF ACTION, JUDGMENTS, DAMAGES, LOSSES, PENALTIES, FINES, LIABILITIES (INCLUDING STRICT LIABILITYInc.), COSTS AND EXPENSES OF ANY KIND OR NATUREand the managers, BOTH members, partners, directors, officers, shareholders, owners, employees, and agents of each (collectively, the “Releasees”), and each of them, which and who shall constitute intended third party beneficiaries hereof, from and against any and all claims of any kind or nature whatsoever, WHETHER KNOWN OR UNKNOWN, PRESENT AND FUTURE, FOR ANY MATTER RELATING DIRECTLY OR INDIRECTLY TO THE PROPERTY, INCLUDING THE TITLE TO, CONDITION OF OR DAMAGE TO THE PROPERTY, AND REGARDLESS OF FAULT OR NEGLIGENCE OF SELLER, EXCEPT FOR A MATERIAL BREACH OF SELLER’S REPRESENTATIONS AND WARRANTIES SET FORTH IN SECTION 9.1 above. to the FULL extent permitted by law, Buyer hereby agrees, represents and warrants that Buyer realizes and acknowledges that factual matters now unknown to it may have given suspected or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses, and expenses which are presently unknown, unanticipated and unsuspected, and Buyer further agreesfixed or contingent, represents and warrants that liquidated or unliquidated which any of the waivers and releases herein Releasors now have, own, hold or claim to have been negotiated and agreed had, owned or held, against any of the Releasees arising from, based upon IN light or related to, whether directly or indirectly, any facts, matters, circumstances, conditions or defects (whether patent or latent) of that realization. The provisions of this paragraph will be deemed remade at the Closing and will survive thereafter. Furthermoreall or any kinds, and without limiting the foregoingrelated to, Buyer hereby expressly waives and relinquishes any and all rights and remedies Buyer may now arising from, or hereafter have against Seller under any statutebased upon, whether directly or indirectly, the common lawProperty, whether known Seller, Seller’s records or unknownthe Audit Letter (as defined in Section 12.1), with respect to any past, present or future presence or existence of hazardous materials on, under or about the Property or with respect to any past, present or future violations of any rules, regulations or laws, now or hereafter enacted, regulating or governing the use, handling, storage or disposal of hazardous materials, including, including without limitation, limitation (i) any the physical condition, quality and all rights Buyer may now or hereafter have to seek contribution from Seller under Section 113(f)(i) state of repair of the Comprehensive Environmental Response Compensation and Liability Act of 1980 (“CERCLA”), as amended by the Superfund Amendments and Reauthorization Act of 1986 (42 U.S.C.A. 9613), as the same may be further amended or replaced by any similar law, rule or regulationProperty conveyed; (ii) any and all rights Buyer may now latent or hereafter have against Seller under patent defect affecting the Washington Model Toxics Control Act or other Washington rulesProperty conveyed, regulations or laws relating to hazardous materials, as the same may be further amended or replaced by any similar law, rule or regulation; and (iii) any and all claimsthe presence of hazardous materials in, whether know on, about or unknown, now under the Real Property or hereafter existing, with respect which have migrated from adjacent lands to the Real Property under Section 107 or from the Real Property to adjacent lands, (iv) any claims arising out of CERCLA alleged construction defects, and (42 U.S.C.A. 9607)v) the contents of the Audit Letter, including any inaccuracies therein. The waivers foregoing Release shall be effective as of the Closing, and shall survive Closing. (e) Without limiting the foregoing and in furtherance of the releases given by Buyer herein contained will survive Purchaser under this Agreement, Purchaser hereby specifically waives the Closing provisions of Section 1542 of the California Civil Code which provide: A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. Purchaser hereby specifically acknowledges that Purchaser has carefully reviewed this Section 3.6(e), and will not be deemed merged into discussed its import with legal counsel, is fully aware of its consequences, and that the deed from Seller to Buyerprovisions of this Section 3.6(e) are a material part of this Agreement.
Appears in 1 contract
As-Is Purchase. BUYER IS PURCHASING EXCEPT AS EXPLICITLY PROVIDED IN SELLERS’ CLOSING DOCUMENTS OR IN SECTIONS 8.1 OR 9.1 OR ELSEWHERE IN THIS AGREEMENT, PURCHASER AGREES TO PURCHASE THE PROPERTY PURCHASED ASSETS IN THEIR “AS IS WHERE AS-IS”, “WHERE-IS” CONDITION AND “WITH ALL FAULTS” AS THEY EXIST ON THE CLOSING DATE, WITH NO WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, EITHER ORAL OR WRITTEN, MADE BY SELLER OR ANY AGENT OR REPRESENTATIVE OF SELLER. NEITHER SELLER NOR ANY MEMBER, OFFICER, PERSON, FIRM, AGENT OR REPRESENTATIVE PURPORTING TO REPRESENT SELLER, HAS ASSUMED ANY RESPONSIBILITY WITH RESPECT TO THE CONDITION OR REPAIR OF THE PURCHASED ASSETS EXCEPT AS SET FORTH IN ITS PRESENT CONDITIONARTICLE 9. BUYER PURCHASER ACKNOWLEDGES THAT SELLER HAS REQUESTED THAT PURCHASER INSPECT, OR CAUSE TO BE INSPECTED, THE PURCHASED ASSETS, AND INVESTIGATE ALL MATTERS RELEVANT THERETO, UP TO AND INCLUDING THE DATE SET FOR CLOSING. IT IS SELLER’S INTENT THAT BY AFFORDING PURCHASER ACCESS TO THE PURCHASED ASSETS AND ALL MATTERS RELEVANT THERETO, PURCHASER WILL HAVE A FULL OPPORTUNITY TO INSPECT CONSIDER THE PROPERTY INFORMATION ABOUT THE PURCHASED ASSETS. TO THE EXTENT THAT PURCHASER IS EXPECTED TO REVIEW OR WILL HAVE REVIEWED THE PURCHASED ASSETS AND DOCUMENTATION IN SELLER’S POSSESSION AS PROVIDED HEREIN. ALL MATTERS RELEVANT THERETO, EXCEPT AS EXPRESSLY SET FORTH PROVIDED FOR IN SECTION 9 ABOVE AND IN THE DEEDTHIS AGREEMENT, SELLER MAKES NO REPRESENTATIONS OR WARRANTIES OR COVENANTS, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED REPRESENTATIONS OR WARRANTIES OR COVENANTS WITH RESPECT TO: (A) THE TITLE TO OR CONDITION OF THE PROPERTY OR ANY STRUCTURE OR IMPROVEMENTS THEREON, ACCESS THERETO OR THE SUITABILITY OF THE PROPERTY FOR HABITATION OR FOR BUYER’S INTENDED USE; (B) THE DEVELOPMENT OF THE PROPERTY OR ANY APPLICABLE BUILDING, ZONING OR FIRE LAWS OR REGULATIONS OR WITH RESPECT TO COMPLIANCE THEREWITH OR WITH RESPECT TO THE EXISTENCE ACCURACY OR COMPLETENESS, METHODOLOGY OF PREPARATION OR COMPLIANCE WITH ANY REQUIRED PERMITS, IF ANY, OTHERWISE CONCERNING THE CONTENT OF ANY GOVERNMENTAL AGENCY; (C) SUCH MATERIALS. THE AVAILABILITY OR EXISTENCE PROVISIONS OF ANY WATER, SEWER OR UTILITIES, ANY RIGHTS THERETO, THIS SECTION 2.2 SHALL SURVIVE THE CLOSING OR ANY WATER, SEWER TERMINATION OF THIS AGREEMENT AND SHALL NOT MERGE WITH THE SPECIAL WARRANTY DEED OR UTILITY DISTRICTS; (D) ACCESS TO ANY PUBLIC OR PRIVATE SANITARY SEWER OR DRAINAGE SYSTEM; (E) OTHER CONVEYANCE OF THE PRESENCE OF ANY HAZARDOUS SUBSTANCES PURCHASED ASSETS AT THE PROPERTY OR IN ANY IMPROVEMENTS ON THE PROPERTY, INCLUDING WITHOUT LIMITATION ASBESTOS OR UREA-FORMALDEHYDE, OR THE PRESENCE OF ANY ENVIRONMENTALLY HAZARDOUS WASTES OR MATERIALS ON OR UNDER THE PROPERTY, OR (F) THE CONDITION OR FUTURE DEVELOPMENT ANY OTHER PROPERTY. BUYER UNCONDITIONALLY RELEASES AND FOREVER DISCHARGES SELLER AND ITS MEMBERS, MANAGERS, ATTORNEYS AND AGENTS FROM AND AGAINST ANY AND ALL CLAIMS, CAUSES OF ACTION, JUDGMENTS, DAMAGES, LOSSES, PENALTIES, FINES, LIABILITIES (INCLUDING STRICT LIABILITY), COSTS AND EXPENSES OF ANY KIND OR NATURE, BOTH KNOWN OR UNKNOWN, PRESENT AND FUTURE, FOR ANY MATTER RELATING DIRECTLY OR INDIRECTLY TO THE PROPERTY, INCLUDING THE TITLE TO, CONDITION OF OR DAMAGE TO THE PROPERTY, AND REGARDLESS OF FAULT OR NEGLIGENCE OF SELLER, EXCEPT FOR A MATERIAL BREACH OF SELLER’S REPRESENTATIONS AND WARRANTIES SET FORTH IN SECTION 9.1 above. to the FULL extent permitted by law, Buyer hereby agrees, represents and warrants that Buyer realizes and acknowledges that factual matters now unknown to it may have given or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses, and expenses which are presently unknown, unanticipated and unsuspected, and Buyer further agrees, represents and warrants that the waivers and releases herein have been negotiated and agreed upon IN light of that realization. The provisions of this paragraph will be deemed remade at the Closing and will survive thereafter. Furthermore, and without limiting the foregoing, Buyer hereby expressly waives and relinquishes any and all rights and remedies Buyer may now or hereafter have against Seller under any statute, the common law, whether known or unknown, with respect to any past, present or future presence or existence of hazardous materials on, under or about the Property or with respect to any past, present or future violations of any rules, regulations or laws, now or hereafter enacted, regulating or governing the use, handling, storage or disposal of hazardous materials, including, without limitation, (i) any and all rights Buyer may now or hereafter have to seek contribution from Seller under Section 113(f)(i) of the Comprehensive Environmental Response Compensation and Liability Act of 1980 (“CERCLA”), as amended by the Superfund Amendments and Reauthorization Act of 1986 (42 U.S.C.A. 9613), as the same may be further amended or replaced by any similar law, rule or regulation; (ii) any and all rights Buyer may now or hereafter have against Seller under the Washington Model Toxics Control Act or other Washington rules, regulations or laws relating to hazardous materials, as the same may be further amended or replaced by any similar law, rule or regulation; and (iii) any and all claims, whether know or unknown, now or hereafter existing, with respect to the Property under Section 107 of CERCLA (42 U.S.C.A. 9607). The waivers and releases by Buyer herein contained will survive the Closing and will not be deemed merged into the deed from Seller to BuyerCLOSING.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Digital Realty Trust, Inc.)
As-Is Purchase. BUYER IS PURCHASING SUBJECT TO SELLER'S EXPRESS REPRESENTATIONS SET FORTH IN TIDS AGREEMENT HEREOF AND IN THE PROPERTY “AS IS WHERE IS” IN DOCUMENTS DELIVERED AT CLOSING (COLLECTIVELY, "SELLER REPRESENTATIONS"), PURCHASER ACKNOWLEDGES THAT PURCHASER WILL HAVE INSPECTED THE SUBJECT PREMISES AND THAT PURCHASER HAS ENTERED INTO TIDS AGREEMENT BASED UPON ITS PRESENT CONDITION. BUYER HAS THE OPPORTUNITY ABILITY TO INSPECT THE PROPERTY MAKE SUCH EXAMINATION AND DOCUMENTATION IN SELLER’S POSSESSION AS PROVIDED HEREININSPECTION. EXCEPT AS EXPRESSLY SET FORTH IN SECTION 9 ABOVE SELLER REPRESENTATIONS, THE SUBJECT PREMISES IS BEING SOLD IN AN "AS-IS" CONDITION AND "WITH ALL FAULTS" AS OF THE CLOSING DATE. EXCEPT AS EXPRESSLY SET FORTH IN THE DEEDSELLER REPRESENTATIONS, SELLER MAKES NO OTHER REPRESENTATIONS OR WARRANTIES HAVE BEEN MADE OR COVENANTSARE MADE AND NO RESPONSIBILITY HAS BEEN OR IS ASSUMED BY SELLER OR BY ANY DIRECTOR, EXPRESS OFFICER, PERSON, FIRM, AGENT OR IMPLIED, INCLUDING BUT NOT LIMITED REPRESENTATIONS REPRESENTATIVE ACTING OR WARRANTIES OR COVENANTS WITH RESPECT TO: (A) THE TITLE PURPORTING TO OR CONDITION OF THE PROPERTY OR ANY STRUCTURE OR IMPROVEMENTS THEREON, ACCESS THERETO OR THE SUITABILITY OF THE PROPERTY FOR HABITATION OR FOR BUYER’S INTENDED USE; (B) THE DEVELOPMENT OF THE PROPERTY OR ANY APPLICABLE BUILDING, ZONING OR FIRE LAWS OR REGULATIONS OR WITH RESPECT TO COMPLIANCE THEREWITH OR WITH RESPECT TO THE EXISTENCE OF OR COMPLIANCE WITH ANY REQUIRED PERMITS, IF ANY, OF ANY GOVERNMENTAL AGENCY; (C) THE AVAILABILITY OR EXISTENCE OF ANY WATER, SEWER OR UTILITIES, ANY RIGHTS THERETO, OR ANY WATER, SEWER OR UTILITY DISTRICTS; (D) ACCESS TO ANY PUBLIC OR PRIVATE SANITARY SEWER OR DRAINAGE SYSTEM; (E) THE PRESENCE OF ANY HAZARDOUS SUBSTANCES AT THE PROPERTY OR IN ANY IMPROVEMENTS ACT ON THE PROPERTY, INCLUDING WITHOUT LIMITATION ASBESTOS OR UREA-FORMALDEHYDE, OR THE PRESENCE OF ANY ENVIRONMENTALLY HAZARDOUS WASTES OR MATERIALS ON OR UNDER THE PROPERTY, OR (F) THE CONDITION OR FUTURE DEVELOPMENT ANY OTHER PROPERTY. BUYER UNCONDITIONALLY RELEASES AND FOREVER DISCHARGES SELLER AND ITS MEMBERS, MANAGERS, ATTORNEYS AND AGENTS FROM AND AGAINST ANY AND ALL CLAIMS, CAUSES OF ACTION, JUDGMENTS, DAMAGES, LOSSES, PENALTIES, FINES, LIABILITIES (INCLUDING STRICT LIABILITY), COSTS AND EXPENSES OF ANY KIND OR NATURE, BOTH KNOWN OR UNKNOWN, PRESENT AND FUTURE, FOR ANY MATTER RELATING DIRECTLY OR INDIRECTLY TO THE PROPERTY, INCLUDING THE TITLE TO, CONDITION OF OR DAMAGE TO THE PROPERTY, AND REGARDLESS OF FAULT OR NEGLIGENCE BEHALF OF SELLER. THE PARTIES AGREE THAT ALL UNDERSTANDINGS AND AGREEMENTS HERETOFORE MADE BETWEEN THEM OR THEIR RESPECTIVE AGENTS OR REPRESENTATIVES ARE MERGED IN THIS AGREEMENT, EXCEPT FOR A MATERIAL BREACH OF SELLER’S REPRESENTATIONS AND WARRANTIES OTHER THAN AS EXPRESSLY SET FORTH IN SELLER REPRESENTATIONS, WHICH, COLLECTIVELY, FULLY AND COMPLETELY EXPRESS THE PARTIES' AGREEMENT. PURCHASER ACKNOWLEDGES THAT THE PURCHASE PRICE REFLECTS THE "AS-IS" NATURE OF THIS SALE AND ANY FAULTS, LIABILITIES, DEFECTS OR OTHER ADVERSE MATTERS THAT MAY BE ASSOCIATED WITH THE SUBJECT PREMISES, SUBJECT TO THE SELLER REPRESENTATIONS. PURCHASER HAS FULLY REVIEWED THE DISCLAIMERS AND WAIVERS SET FORTH IN THIS AGREEMENT WITH ITS COUNSEL AND UNDERSTANDS THE SIGNIFICANCE AND EFFECT THEREOF. NOTWITHSTANDING ANYTHING TO THE CONTRARY HEREIN, THE TERMS AND PROVISIONS OF THIS SECTION 9.1 above. to the FULL extent permitted by law, Buyer hereby agrees, represents and warrants that Buyer realizes and acknowledges that factual matters now unknown to it may have given or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses, and expenses which are presently unknown, unanticipated and unsuspected, and Buyer further agrees, represents and warrants that the waivers and releases herein have been negotiated and agreed upon IN light of that realization. The provisions of this paragraph will be deemed remade at the Closing and will survive thereafter. Furthermore, and without limiting the foregoing, Buyer hereby expressly waives and relinquishes any and all rights and remedies Buyer may now or hereafter have against Seller under any statute, the common law, whether known or unknown, with respect to any past, present or future presence or existence of hazardous materials on, under or about the Property or with respect to any past, present or future violations of any rules, regulations or laws, now or hereafter enacted, regulating or governing the use, handling, storage or disposal of hazardous materials, including, without limitation, (i) any and all rights Buyer may now or hereafter have to seek contribution from Seller under Section 113(f)(i) of the Comprehensive Environmental Response Compensation and Liability Act of 1980 (“CERCLA”), as amended by the Superfund Amendments and Reauthorization Act of 1986 (42 U.S.C.A. 9613), as the same may be further amended or replaced by any similar law, rule or regulation; (ii) any and all rights Buyer may now or hereafter have against Seller under the Washington Model Toxics Control Act or other Washington rules, regulations or laws relating to hazardous materials, as the same may be further amended or replaced by any similar law, rule or regulation; and (iii) any and all claims, whether know or unknown, now or hereafter existing, with respect to the Property under Section 107 of CERCLA (42 U.S.C.A. 9607). The waivers and releases by Buyer herein contained will survive the Closing and will not be deemed merged into the deed from Seller to Buyer11.D SHALL SURVIVE THE CLOSING INDEFINITELY.
Appears in 1 contract
Samples: Purchase Agreement (Aei Income & Growth Fund Xxii LTD Partnership)
As-Is Purchase. (A) BUYER ACKNOWLEDGES AND AGREES THAT BUYER IS PURCHASING THE PROPERTY “AS IS WHERE AS-IS” “WHERE-IS” AND “WITH ALL FAULTS” WITHOUT ANY WARRANTIES, REPRESENTATIONS (EXCEPT AS SPECIFICALLY PROVIDED IN ITS PRESENT CONDITIONSECTION 10 OF THIS AGREEMENT) OR IN THE DEED OR GUARANTEES, EITHER EXPRESSED OR IMPLIED, OF ANY KIND, NATURE, OR TYPE WHATSOEVER FROM OR ON BEHALF OF, SELLER. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, BUYER HAS ACKNOWLEDGES AND AGREES THAT SELLER HEREBY EXPRESSLY DISCLAIMS ANY AND ALL IMPLIED WARRANTIES CONCERNING THE OPPORTUNITY TO INSPECT CONDITION OF THE PROPERTY AND DOCUMENTATION ANY PORTIONS THEREOF, INCLUDING, BUT NOT LIMITED TO, (A) PHYSICAL AND ENVIRONMENTAL CONDITIONS AND IMPLIED WARRANTIES OF HABITABILITY, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, (B) THE VALUE, NATURE, QUALITY OR CONDITION OF THE PROPERTY, INCLUDING, WITHOUT LIMITATION, THE WATER, SOIL AND GEOLOGY, (C) THE INCOME TO BE DERIVED FROM THE PROPERTY, (D) THE SUITABILITY OF THE PROPERTY FOR ANY AND ALL ACTIVITIES AND USES WHICH BUYER MAY CONDUCT THEREON, (E) THE COMPLIANCE OF OR BY THE PROPERTY OR ITS OPERATION WITH ANY LAWS, RULES, ORDINANCES OR REGULATIONS OF ANY APPLICABLE GOVERNMENTAL AUTHORITY OR BODY, (F) THE HABITABILITY, MERCHANTABILITY, MARKETABILITY, PROFITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF THE PROPERTY, (G) THE MANNER OR QUALITY OF THE CONSTRUCTION OR MATERIALS, IF ANY, INCORPORATED INTO THE PROPERTY, (H) THE MANNER, QUALITY, STATE OF REPAIR OR LACK OF REPAIR OF THE PROPERTY, OR (I) ANY OTHER MATTER WITH RESPECT TO THE PROPERTY. NOTWITHSTANDING THE FOREGOING, THE PROPERTY WILL BE SOLD, ASSIGNED, TRANSFERRED AND CONVEYED TO BUYER FREE AND CLEAR OF ALL LIENS, CLAIMS, INTERESTS, AND ENCUMBRANCES IN SELLER’S POSSESSION AS PROVIDED HEREIN. AND WITH RESPECT TO THE PROPERTY TO THE EXTENT AUTHORIZED BY SECTION 363(F) OF THE BANKRUPTCY CODE, EXCEPT AS SPECIFICALLY PROVIDED IN THIS AGREEMENT.
(B) BUYER ACKNOWLEDGES AND AGREES THAT BUYER HAS NOT RELIED, AND WILL NOT RELY, UPON ANY REPRESENTATIONS OR WARRANTIES (ORAL OR WRITTEN) MADE BY OR PURPORTEDLY MADE ON BEHALF OF SELLER WITH RESPECT TO THE PROPERTY, UNLESS SUCH REPRESENTATIONS AND WARRANTIES ARE EXPRESSLY SET FORTH IN SECTION 9 ABOVE THIS AGREEMENT. BUYER FURTHER ACKNOWLEDGES AND AGREES THAT BUYER HAS NOT RELIED, AND WILL NOT RELY, UPON ANY DOCUMENTS OR OTHER INFORMATION (ORAL OR WRITTEN) PROVIDED BY, OR PURPORTEDLY PROVIDED ON BEHALF OF, SELLER UNDER THIS AGREEMENT OR OTHERWISE. BUYER UNDERSTANDS AND AGREES THAT ANY DOCUMENTS OR INFORMATION PROVIDED TO BUYER BY SELLER OR ON SELLER’S BEHALF HAVE BEEN OBTAINED FROM A VARIETY OF SOURCES AND HAVE NOT BEEN INDEPENDENTLY INVESTIGATED OR VERIFIED BY SELLER AND ARE NOT TO BE RELIED UPON BY BUYER IN THE DEED, PURCHASING SUCH PROPERTY. SELLER MAKES NO EXPRESS REPRESENTATIONS OR WARRANTIES, AND SELLER HEREBY DISCLAIMS ANY AND ALL IMPLIED WARRANTIES CONCERNING THE TRUTH, ACCURACY AND COMPLETENESS OF ANY DOCUMENTS OR COVENANTSINFORMATION PROVIDED TO BUYER BY SELLER OR BY ANYONE ACTING, EXPRESS OR IMPLIEDPURPORTING TO ACT ON BEHALF OF SELLER.
(C) EXCEPT AS OTHERWISE SPECIFICALLY PROVIDED IN THIS AGREEMENT, INCLUDING BUYER AGREES THAT NO REPRESENTATION BY OR ON BEHALF OF SELLER HAS BEEN MADE TO BUYER AS TO THE CONDITION OF THE PROPERTY, ANY RESTRICTIONS RELATED TO THE DEVELOPMENT OF THE PROPERTY, THE APPLICABILITY OF OR COMPLIANCE WITH ANY GOVERNMENTAL REQUIREMENTS, INCLUDING, BUT NOT LIMITED REPRESENTATIONS OR WARRANTIES OR COVENANTS WITH RESPECT TO: (A) THE TITLE TO OR CONDITION OF THE PROPERTY OR ANY STRUCTURE OR IMPROVEMENTS THEREON, ACCESS THERETO ENVIRONMENTAL LAWS, OR THE SUITABILITY OF THE PROPERTY FOR HABITATION OR FOR BUYER’S INTENDED USE; (B) THE DEVELOPMENT OF ANY PURPOSE WHATSOEVER. BUYER ACKNOWLEDGES THAT SELLER SHALL HAVE NO OBLIGATION TO DELIVER THE PROPERTY IN BROOM CLEAN CONDITION. BUYER FURTHER ACKNOWLEDGES THAT SELLER DOES NOT POSSESS ANY EXPERTISE CONCERNING HAZARDOUS MATERIALS OR HAZARDOUS SUBSTANCES (AS DEFINED BY ANY APPLICABLE BUILDINGFEDERAL OR STATE LAW, ZONING RULE OR FIRE LAWS REGULATION) INCLUDING, WITHOUT LIMITATION, PCB’S OR REGULATIONS ASBESTOS, FURTHERMORE, BUYER IS NOT RELYING ON ANY REPRESENTATION, OR THE LACK OF SAME, WITH RESPECT TO COMPLIANCE THEREWITH HAZARDOUS MATERIALS OR WITH RESPECT HAZARDOUS SUBSTANCES AS THEY APPLY TO CONDITIONS ON THE EXISTENCE OF OR COMPLIANCE WITH ANY REQUIRED PERMITS, IF ANY, OF ANY GOVERNMENTAL AGENCY; (C) THE AVAILABILITY OR EXISTENCE OF ANY WATER, SEWER OR UTILITIES, ANY RIGHTS THERETO, OR ANY WATER, SEWER OR UTILITY DISTRICTS; PROPERTY.
(D) ACCESS TO ANY PUBLIC OR PRIVATE SANITARY SEWER OR DRAINAGE SYSTEM; (E) THE PRESENCE OF ANY HAZARDOUS SUBSTANCES AT THE PROPERTY OR IN ANY IMPROVEMENTS ON THE PROPERTY, INCLUDING WITHOUT LIMITATION ASBESTOS OR UREA-FORMALDEHYDE, OR THE PRESENCE OF ANY ENVIRONMENTALLY HAZARDOUS WASTES OR MATERIALS ON OR UNDER THE PROPERTY, OR (F) THE CONDITION OR FUTURE DEVELOPMENT ANY OTHER PROPERTY. BUYER UNCONDITIONALLY WAIVES AND RELEASES AND FOREVER DISCHARGES SELLER AND ITS MEMBERS, MANAGERS, ATTORNEYS AND AGENTS FROM AND AGAINST ANY AND ALL CLAIMSLIABILITY OF SELLER, CAUSES OF ACTION, JUDGMENTS, DAMAGES, LOSSES, PENALTIES, FINES, LIABILITIES (INCLUDING STRICT LIABILITY), COSTS AND EXPENSES OF ANY KIND OR NATURE, BOTH WHETHER KNOWN OR UNKNOWN, PRESENT AND OR FUTURE, FOR ANY MATTER ARISING OUT OF OR RELATING DIRECTLY TO THE PRESENCE OR INDIRECTLY TO ALLEGED PRESENCE OF HAZARDOUS MATERIALS ON, IN, UNDER, OR ABOUT THE PROPERTY, INCLUDING OR THE TITLE TOVIOLATION OR ALLEGED VIOLATION OF ANY ENVIRONMENTAL LAWS, CONDITION OF OR DAMAGE INCLUDING, BUT NOT LIMITED TO THE PROPERTY, AND REGARDLESS OF FAULT OR NEGLIGENCE OF SELLER, EXCEPT FOR A MATERIAL BREACH OF SELLER’S REPRESENTATIONS AND WARRANTIES SET FORTH IN SECTION 9.1 above. to the FULL extent permitted by law, Buyer hereby agrees, represents and warrants that Buyer realizes and acknowledges that factual matters now unknown to it may have given or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses, and expenses which are presently unknown, unanticipated and unsuspected, and Buyer further agrees, represents and warrants that the waivers and releases herein have been negotiated and agreed upon IN light of that realization. The provisions of this paragraph will be deemed remade at the Closing and will survive thereafter. Furthermore, and without limiting the foregoing, Buyer hereby expressly waives and relinquishes any and all rights and remedies Buyer may now or hereafter have against Seller under any statute, the common law, whether known or unknown, with respect to any past, present or future presence or existence of hazardous materials on, under or about the Property or with respect to any past, present or future violations of any rules, regulations or laws, now or hereafter enacted, regulating or governing the use, handling, storage or disposal of hazardous materials, including, without limitation, (i) any and all rights Buyer may now or hereafter have to seek contribution from Seller under Section 113(f)(i) of the Comprehensive Environmental Response Compensation and Liability Act of 1980 (“CERCLA”), as amended by the Superfund Amendments and Reauthorization Act of 1986 (42 U.S.C.A. 9613), as the same may be further amended or replaced by any similar law, rule or regulation; (ii) any and all rights Buyer may now or hereafter have against Seller under the Washington Model Toxics Control Act or other Washington rules, regulations or laws relating to hazardous materials, as the same may be further amended or replaced by any similar law, rule or regulation; and (iii) any and all claims, whether know or unknown, now or hereafter existing, with respect to the Property under Section 107 of CERCLA (42 U.S.C.A. 9607). The waivers and releases by Buyer herein contained will survive the Closing and will not be deemed merged into the deed from Seller to Buyer.
Appears in 1 contract
Samples: Purchase Agreement (Phillips Edison - ARC Shopping Center REIT Inc.)
As-Is Purchase. BUYER ACKNOWLEDGES AND AGREES THAT BUYER IS PURCHASING ACQUIRING THE PROPERTY “AS IS WHERE IS” IN ITS PRESENT "AS IS" CONDITION. BUYER HAS THE OPPORTUNITY TO INSPECT THE PROPERTY , WITH ALL FAULTS, AND DOCUMENTATION IN SELLER’S POSSESSION WITHOUT ANY WARRANTY, EXPRESS, IMPLIED OR STATUTORY, ALL OF WHICH ARE HEREBY WAIVED AND DISCLAIMED BY BUYER, EXCEPT FOR ONLY SUCH REPRESENTATIONS AND WARRANTIES AS PROVIDED HEREIN. EXCEPT AS ARE EXPRESSLY AND SPECIFICALLY SET FORTH IN SECTION 9 ABOVE THIS AGREEMENT. OTHER THAN AS EXPRESSLY AND IN THE DEEDSPECIFICALLY SET FORTH HEREIN, NEITHER SELLER MAKES NO NOR ANY AGENTS, REPRESENTATIVES, OR EMPLOYEES OF SELLER (INCLUDING, WITHOUT LIMITATION, BROKER (AS HEREINAFTER DEFINED)) HAVE MADE ANY REPRESENTATIONS OR WARRANTIES WARRANTIES, DIRECT OR COVENANTSINDIRECT, ORAL OR WRITTEN, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED REPRESENTATIONS OR WARRANTIES OR COVENANTS WITH RESPECT TO: (A) THE TITLE TO OR CONDITION OF THE PROPERTY BUYER OR ANY STRUCTURE AGENTS, REPRESENTATIVES, OR IMPROVEMENTS THEREON, ACCESS THERETO OR THE SUITABILITY EMPLOYEES OF THE PROPERTY FOR HABITATION OR FOR BUYER’S INTENDED USE; (B) THE DEVELOPMENT OF THE PROPERTY OR ANY APPLICABLE BUILDING, ZONING OR FIRE LAWS OR REGULATIONS OR WITH RESPECT TO COMPLIANCE THEREWITH OR BUYER WITH RESPECT TO THE EXISTENCE CONDITION OR CONSTRUCTION OF OR THE PROPERTY, ITS FITNESS FOR ANY PARTICULAR PURPOSE, ITS MERCHANTABILITY, ITS COMPLIANCE WITH ANY REQUIRED PERMITSLAWS, IF ANYOR OTHERWISE AND BUYER IS NOT AWARE OF AND DOES NOT RELY UPON ANY SUCH REPRESENTATION. BUYER ACKNOWLEDGES THAT THE BUYER HAS HAD OR, PURSUANT TO THE TERMS HEREOF, WILL HAVE A FULL AND COMPLETE OPPORTUNITY TO MAKE SUCH INSPECTIONS (OR HAVE SUCH INSPECTIONS MADE BY CONSULTANTS) AS IT DESIRES OF THE PROPERTY AND ALL FACTS RELEVANT TO ITS USE, INCLUDING, WITHOUT LIMITATION, THE INTERIOR, EXTERIOR, STRUCTURE, AND CONSTRUCTION OF ALL IMPROVEMENTS, AND THE CONDITION OF SOILS AND SUBSURFACES. BUYER IS RELYING SOLELY ON ITS OWN INVESTIGATIONS OF THE PROPERTY AND NOT ON ANY INFORMATION PROVIDED BY SELLER OR ITS AGENTS. EXCEPT ONLY WITH RESPECT TO A BREACH BY SELLER OF ANY GOVERNMENTAL AGENCY; (C) THE AVAILABILITY REPRESENTATION OR EXISTENCE OF ANY WATERWARRANTY EXPRESSLY AND SPECIFICALLY CONTAINED HEREIN, SEWER OR UTILITIESBUYER HEREBY WAIVES, ANY RIGHTS THERETO, OR ANY WATER, SEWER OR UTILITY DISTRICTS; (D) ACCESS TO ANY PUBLIC OR PRIVATE SANITARY SEWER OR DRAINAGE SYSTEM; (E) THE PRESENCE OF ANY HAZARDOUS SUBSTANCES AT THE PROPERTY OR IN ANY IMPROVEMENTS ON THE PROPERTY, INCLUDING WITHOUT LIMITATION ASBESTOS OR UREA-FORMALDEHYDE, OR THE PRESENCE OF ANY ENVIRONMENTALLY HAZARDOUS WASTES OR MATERIALS ON OR UNDER THE PROPERTY, OR (F) THE CONDITION OR FUTURE DEVELOPMENT ANY OTHER PROPERTY. BUYER UNCONDITIONALLY RELEASES AND FOREVER DISCHARGES SELLER, ANY OFFICER, PARTNER, DIRECTOR, EMPLOYEE, AGENT OR PERSON ACTING ON BEHALF OF SELLER AND ITS MEMBERS, MANAGERS, ATTORNEYS ANY AFFILIATE OF SELLER OF AND AGENTS FROM AND AGAINST ANY AND ALL CLAIMS, ACTIONS, CAUSES OF ACTION, JUDGMENTSDEMANDS, RIGHTS, DAMAGES, LOSSESLIABILITIES AND COSTS WHATSOEVER, PENALTIESDIRECT OR INDIRECT, FINES, LIABILITIES (INCLUDING STRICT LIABILITY), COSTS AND EXPENSES OF ANY KIND OR NATURE, BOTH KNOWN OR UNKNOWN, PRESENT AND FUTURE, FOR WHICH BUYER NOW HAS OR WHICH MAY ARISE IN THE FUTURE AGAINST SELLER OR ANY MATTER RELATING DIRECTLY OR INDIRECTLY SUCH OTHER PARTIES RELATED IN ANY WAY TO THE PROPERTY, INCLUDING INCLUDING, WITHOUT LIMITATION, THEIR CONSTRUCTION, VALUE, COMPLIANCE WITH LAWS, OR CONDITION. IN FURTHERANCE OF THE TITLE TOFOREGOING AND NOT IN LIMITATION THEREOF, BUYER HEREBY AGREES NOT TO ASSERT ANY CLAIM FOR CONTRIBUTION, COST, RECOVERY OR OTHERWISE AGAINST SELLER OR ANY SUCH AFFILIATE (WHETHER ARISING UNDER STATUTORY LAW, COMMON LAW, FEDERAL LAW, STATE LAW OR OTHERWISE) RELATING, DIRECTLY OR INDIRECTLY, TO THE PHYSICAL CONDITION OF OR DAMAGE TO THE PROPERTY, AND REGARDLESS INCLUDING, WITHOUT LIMITATION, THE EXISTENCE OF FAULT OIL, LEAD PAINT, ASBESTOS, OR NEGLIGENCE HAZARDOUS MATERIALS OR SUBSTANCES ON, OR THE ENVIRONMENTAL CONDITION OF, THE PROPERTY, WHETHER KNOWN OR UNKNOWN. THE PROVISIONS OF SELLER, EXCEPT FOR A MATERIAL BREACH OF SELLER’S REPRESENTATIONS AND WARRANTIES SET FORTH IN THIS SECTION 9.1 above5.1. to the FULL extent permitted by law, Buyer hereby agrees, represents and warrants that Buyer realizes and acknowledges that factual matters now unknown to it may have given or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses, and expenses which are presently unknown, unanticipated and unsuspected, and Buyer further agrees, represents and warrants that the waivers and releases herein have been negotiated and agreed upon IN light of that realization. The provisions of this paragraph will be deemed remade at the Closing and will survive thereafter. Furthermore, and without limiting the foregoing, Buyer hereby expressly waives and relinquishes any and all rights and remedies Buyer may now or hereafter have against Seller under any statute, the common law, whether known or unknown, with respect to any past, present or future presence or existence of hazardous materials on, under or about the Property or with respect to any past, present or future violations of any rules, regulations or laws, now or hereafter enacted, regulating or governing the use, handling, storage or disposal of hazardous materials, including, without limitation, (i) any and all rights Buyer may now or hereafter have to seek contribution from Seller under Section 113(f)(i) of the Comprehensive Environmental Response Compensation and Liability Act of 1980 (“CERCLA”), as amended by the Superfund Amendments and Reauthorization Act of 1986 (42 U.S.C.A. 9613), as the same may be further amended or replaced by any similar law, rule or regulation; (ii) any and all rights Buyer may now or hereafter have against Seller under the Washington Model Toxics Control Act or other Washington rules, regulations or laws relating to hazardous materials, as the same may be further amended or replaced by any similar law, rule or regulation; and (iii) any and all claims, whether know or unknown, now or hereafter existing, with respect to the Property under Section 107 of CERCLA (42 U.S.C.A. 9607). The waivers and releases by Buyer herein contained will survive the Closing and will not be deemed merged into the deed from Seller to BuyerSHALL SURVIVE THE CLOSING.
Appears in 1 contract