Common use of Buyer Acknowledgements Clause in Contracts

Buyer Acknowledgements. 5.1 The Buyer acknowledges that: (a) it has the legal capacity to agree to this Agreement; (b) it has entered into this Agreement after satisfactory inspection and investigation of the Property and carrying out any property searches the Buyer considers appropriate and buys the Property “as is”; and (c) it has made its own enquiries about the Property before agreeing to this Agreement; and (d) it has not relied on any representations, statements or warranties (express of implied) made by Council or any person/s acting or purporting to act on behalf of Council. 5.2 Council does not give or imply any warranty or representation as to: (a) The Property’s (including improvements on the Property): (i) State and condition; or (ii) Suitability for any use; or (iii) Compliance with any statue or regulation or with the requirements of any statutory, semi-statutory, governmental, semi-governmental or other authority or body (including the existence of any building approvals in relation to the construction of any works carried out on the Property); or (iv) Present use complying with the requirements of any town planning legislation or any local authority by-laws; or (v) Potential future use or profitability; or (vi) Access; or (b) The existence or non-existence of any defects (latent or patent) affecting the Property. 5.3 The Buyer must make its own assessment and investigations in respect of the property to determine if any part is Contaminated Land and draw its own conclusions from that assessment and that investigation. The Buyer warrants to the Council that it will comply with the Environmental Protection Act 1994 following the date of this Agreement. 5.4 The Buyer indemnifies Council against any Liability arising because the Property is contaminated, is required to be or is recorded or on the Contaminated Land Register or the Environmental Management Register. 5.5 The Buyer acknowledges there may be land tax owing in respect of the Property on the Auction Date and while any such amount shall be paid by Council from the proceeds of sale, the Buyer is responsible for any land tax that accrues after the Auction Date. 5.6 Council gives no warranty that the Buyer will obtain vacant possession of the Property at the time of sale. The Buyer is responsible for taking all necessary steps to obtain vacant possession of the Property following the sale. Council is not responsible for adjusting any rent paid in advance by any tenant in favour of the Buyer. 5.7 Council does not take responsibility for the accuracy of Auction Notices/Signs that have been placed on the Property. The Buyer must at their own expense ascertain the true description of the Property and to identify the Property purchased. 5.8 The Council gives no warranty and makes no representation that the improvements (if any) purporting to be on the Property are wholly on the Property or that the building or improvements on adjoining land do not encroach on the Property. The Property is sold subject to any encroachments which may exist. Any error in the boundaries or area of the Property or any encroachment (whether immaterial or of a substantial nature or otherwise) will not annul the sale. 5.9 The Buyer is purchasing the Property subject to all existing or non-existent water supply, sewerage or drainage, gas, electricity, telephone and other installations and services (collectively 'the Services'). 5.10 The Buyer is not entitled to: (a) take any objection or make any requisition; (b) claim any compensation, damages or the like;

Buyer Acknowledgements. 5.1 The Buyer acknowledges that: (a) it has the legal capacity to agree to enter into this Agreement; (b) it has entered into this Agreement after satisfactory inspection and investigation of the Property and carrying out any property searches the Buyer considers appropriate and buys the Property “as is”; and (c) it has made its own enquiries about the Property before agreeing to signing this Agreement; and (d) it has not relied on any representations, statements or warranties (express of implied) made by Council or any person/s acting or purporting to act on behalf of Council. 5.2 Council does not give or imply any warranty or representation as to: (a) The Property’s (including improvements on the Property): (i) State and condition; or (ii) Suitability for any use; or (iii) Compliance with any statue or regulation or with the requirements of any statutory, semi-statutory, governmental, semi-governmental or other authority or body (including the existence of any building approvals in relation to the construction of any works carried out on the Property); or (iv) Present use complying with the requirements of any town planning legislation or any local authority by-laws; or (v) Potential future use or profitability; or (vi) Access; or (b) The existence or non-existence of any defects (latent or patent) affecting the Property. 5.3 The Buyer must make its own assessment and investigations in respect of the property to determine if any part is Contaminated Land and draw its own conclusions from that assessment and that investigation. The Buyer warrants to the Council that it will comply with the Environmental Protection Act 1994 following the date of this Agreement. 5.4 The Buyer indemnifies Council against any Liability arising because the Property is contaminated, is required to be or is recorded or on the Contaminated Land Register or the Environmental Management Register. 5.5 The Buyer acknowledges there may be land tax owing in respect of the Property on the Auction Date and while any such amount shall be paid by Council from the proceeds of sale, the Buyer is responsible for any land tax that accrues after the Auction Date. 5.6 Council gives no warranty that the Buyer will obtain vacant possession of the Property at the time of sale. The Buyer is responsible for taking all necessary steps to obtain vacant possession of the Property following the sale. Council is not responsible for adjusting any rent paid in advance by any tenant in favour of the Buyer. 5.7 Council does not take responsibility for the accuracy of Auction Notices/Signs that have been placed on the Property. The Buyer must at their own expense ascertain the true description of the Property and to identify the Property purchased. 5.8 The Council gives no warranty and makes no representation that the improvements (if any) purporting to be on the Property are wholly on the Property or that the building or improvements on adjoining land do not encroach on the Property. The Property is sold subject to any encroachments which may exist. Any error in the boundaries or area of the Property or any encroachment (whether immaterial or of a substantial nature or otherwise) will not annul the sale. 5.9 The Buyer is purchasing the Property subject to all existing or non-existent water supply, sewerage or drainage, gas, electricity, telephone and other installations and services (collectively 'the Services'). 5.10 The Buyer is not entitled to: (a) take any objection or make any requisition; (b) claim any compensation, damages or the like;

Buyer Acknowledgements. 5.1 The Buyer acknowledges that: (a) : it has the legal capacity to agree to enter into this Agreement; (b) ; it has entered into this Agreement after satisfactory inspection and investigation of the Property and carrying out any property searches the Buyer considers appropriate and buys the Property “as is”; and (c) and it has made its own enquiries about the Property before agreeing to signing this Agreement; and (d) and it has not relied on any representations, statements or warranties (express of implied) made by Council or any person/s acting or purporting to act on behalf of Council. 5.2 . Council does not give or imply any warranty or representation as to: (a) : The Property’s (including improvements on the Property): (i) ): State and condition; or (ii) or Suitability for any use; or (iii) or Compliance with any statue or regulation or with the requirements of any statutory, semi-statutory, governmental, semi-governmental or other authority or body (including the existence of any building approvals in relation to the construction of any works carried out on the Property); or (iv) or Present use complying with the requirements of any town planning legislation or any local authority by-laws; or (v) or Potential future use or profitability; or (vi) Access; or (b) or The existence or non-existence of any defects (latent or patent) affecting the Property. 5.3 . The Buyer must make its own assessment and investigations in respect of the property to determine if any part is Contaminated Land and draw its own conclusions from that assessment and that investigation. The Buyer warrants to the Council that it will comply with the Environmental Protection Act 1994 following the date of this Agreement. 5.4 . The Buyer indemnifies Council against any Liability arising because the Property is contaminated, is required to be or is recorded or on the Contaminated Land Register or the Environmental Management Register. 5.5 . The Buyer acknowledges there may be land tax owing in respect of the Property on the Auction Date and while any such amount shall be paid by Council from the proceeds of sale, the Buyer is responsible for any land tax that accrues after the Auction Date. 5.6 . Council gives no warranty that the Buyer will obtain vacant possession of the Property at the time of sale. The Buyer is responsible for taking all necessary steps to obtain vacant possession of the Property following the sale. Council is not responsible for adjusting any rent paid in advance by any tenant in favour of the Buyer. 5.7 . Council does not take responsibility for the accuracy of Auction Notices/Signs that have been placed on the Property. The Buyer must at their own expense ascertain the true description of the Property and to identify the Property purchased. 5.8 . The Council gives no warranty and makes no representation that the improvements (if any) purporting to be on the Property are wholly on the Property or that the building or improvements on adjoining land do not encroach on the Property. The Property is sold subject to any encroachments which may exist. Any error in the boundaries or area of the Property or any encroachment (whether immaterial or of a substantial nature or otherwise) will not annul the sale. 5.9 . The Buyer is purchasing the Property subject to all existing or non-existent water supply, sewerage or drainage, gas, electricity, telephone and other installations and services (collectively 'the Services'). 5.10 . The Buyer is not entitled to: (a) : take any objection or make any requisition; (b) ; claim any compensation, damages or the like;; seek to withhold any part or claim any reduction in the Purchase Price; or refuse to complete or delay completion of this Agreement, if any of the defects or other matters provided in this clause 5 are relevant to the Property being sold.