Common use of Buyer’s Independent Investigation Clause in Contracts

Buyer’s Independent Investigation. a. Buyer acknowledges that it has been given a full opportunity to inspect and investigate each and every aspect of the Real Property, either independently or through agents of Buyer’s choosing, including, without limitation: i. All matters relating to title, together will all governmental and other legal requirements such as taxes, assessments, zoning, use permit requirements and building codes. ii. The physical condition of the Real Property, including, without limitation, the presence or absence of Hazardous Materials (as defined below), and all other physical and functional aspects of the Easement Areas. For the purposes hereof, “Hazardous Materials” shall mean any substance, chemical, waste or other material which is listed, defined or otherwise identified as “hazardous” or “toxic” under any federal, state, local or administrative agency ordinance or law, or any material that because of its quantity, concentration, or physical or chemical characteristics, poses a significant, present or potential hazard to human health or safety or to the environment if released into the environment, or any regulation, order, rule or requirement adopted hereunder, as well as formaldehyde, urea, polychlorinated biphenyls, petroleum, petroleum product or by-product, crude oil, natural gas, natural gas liquids, liquefied natural gas, or synthetic gas usable for fuel or mixture thereof, radon, asbestos, and “source,” “special nuclear” and “by-product” material as defined in the Atomic Energy Act of 1985, 42 U.S.C. §§3011 et sea. iii. Any easements and/or access rights affecting the Real Property. iv. All other matters of material significance affecting the Real Property. b. BUYER SPECIFICALLY ACKNOWLEDGES THAT SELLER IS SELLING AND BUYER IS PURCHASING THE REAL PROPERTY ON AN ‘AS IS WITH ALL FAULTS’ BASIS AND THAT BUYER IS NOT RELYING ON ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND WHATSOEVER, EXPRESS OR IMPLIED FROM SELLER, ITS AGENTS, OR BROKERS AS TO ANY MATTERS CONCERNING THE PROPERTY, INCLUDING WIHTOUT LIMITATION: i. The quality, nature, adequacy and physical condition of the Real Property. ii. The qualify, nature, adequacy and physical condition of soils, geology and any groundwater of the Real Property. iii. The existence, quality, nature, adequacy and physical condition of utilities serving the Real Property. iv. The development potential of the Real Property, and the Real Property’s use, habitability, merchantability, or fitness, suitability, value or adequacy of the Real Property for any particular purpose. v. The zoning or other legal status of the Real Property or any other public or private restrictions on use of the Real Property. vi. The compliance of the Real Property of its operation with any applicable codes, laws, regulations, statutes, ordinances, covenants, conditions and restrictions of any governmental or quasi-governmental entity or of any other person or entity. vii. The presence of Hazardous Materials on, under or about the Real Property or the adjoining or neighboring property. viii. The quality of any labor and materials used in any improvements on the Real Property. ix. The condition of title to the Real Property. x. The leases, service contracts, or other agreements affecting the Real Property. xi. The economics of the operation of the Real Property to be conveyed.

Buyer’s Independent Investigation. a. Buyer Xxxxx acknowledges that it has been given a full opportunity to inspect and investigate each and every aspect of the Real Property, either independently or through agents of Buyer’s choosing, including, without limitation: i. All matters relating to title, together will all governmental and other legal requirements such as taxes, assessments, zoning, use permit requirements and building codes. ii. The physical condition of the Real Property, including, without limitation, the presence or absence of Hazardous Materials (as defined below), and all other physical and functional aspects of the Easement Areas. For the purposes hereof, “Hazardous Materials” shall mean any substance, chemical, waste or other material which is listed, defined or otherwise identified as “hazardous” or “toxic” under any federal, state, local or administrative agency ordinance or law, or any material that because of its quantity, concentration, or physical or chemical characteristics, poses a significant, present or potential hazard to human health or safety or to the environment if released into the environment, or any regulation, order, rule or requirement adopted hereunder, as well as formaldehyde, urea, polychlorinated biphenyls, petroleum, petroleum product or by-product, crude oil, natural gas, natural gas liquids, liquefied natural gas, or synthetic gas usable for fuel or mixture thereof, radon, asbestos, and “source,” “special nuclear” and “by-product” material as defined in the Atomic Energy Act of 1985, 42 U.S.C. §§3011 et sea. iii. Any easements and/or access rights affecting the Real Property. iv. All other matters of material significance affecting the Real Property. b. BUYER SPECIFICALLY ACKNOWLEDGES THAT SELLER IS SELLING AND BUYER IS PURCHASING THE REAL PROPERTY ON AN ‘AS IS WITH ALL FAULTS’ BASIS AND THAT BUYER IS NOT RELYING ON ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND WHATSOEVER, EXPRESS OR IMPLIED FROM SELLER, ITS AGENTS, OR BROKERS AS TO ANY MATTERS CONCERNING THE PROPERTY, INCLUDING WIHTOUT LIMITATION: i. The quality, nature, adequacy and physical condition of the Real Property. ii. The qualify, nature, adequacy and physical condition of soils, geology and any groundwater of the Real Property. iii. The existence, quality, nature, adequacy and physical condition of utilities serving the Real Property. iv. The development potential of the Real Property, and the Real Property’s use, habitability, merchantability, or fitness, suitability, value or adequacy of the Real Property for any particular purpose. v. The zoning or other legal status of the Real Property or any other public or private restrictions on use of the Real Property. vi. The compliance of the Real Property of its operation with any applicable codes, laws, regulations, statutes, ordinances, covenants, conditions and restrictions of any governmental or quasi-governmental entity or of any other person or entity. vii. The presence of Hazardous Materials on, under or about the Real Property or the adjoining or neighboring property. viii. The quality of any labor and materials used in any improvements on the Real Property. ix. The condition of title to the Real Property. x. The leases, service contracts, or other agreements affecting the Real Property. xi. The economics of the operation of the Real Property to be conveyed.

Buyer’s Independent Investigation. a. Buyer acknowledges that it has been given a full opportunity to inspect and investigate each and every aspect of the Real Property, either independently or through agents of Buyer’s choosing, including, without limitation: i. All matters relating to title, together will all governmental and other legal requirements such as taxes, assessments, zoning, use permit requirements and building codes. ii. The physical condition of the Real Property, including, without limitation, the presence or absence of Hazardous Materials (as defined below), and all other physical and functional aspects of the Easement Areas. For the purposes hereof, “Hazardous Materials” shall mean any substance, chemical, waste or other material which is listed, defined or otherwise identified as “hazardous” or “toxic” under any federal, state, local or administrative agency ordinance or law, or any material that because of its quantity, concentration, or physical or chemical characteristics, poses a significant, present or potential hazard to human health or safety or to the environment if released into the environment, or any regulation, order, rule or requirement adopted hereunder, as well as formaldehyde, urea, polychlorinated biphenyls, petroleum, petroleum product or by-product, crude oil, natural gas, natural gas liquids, liquefied natural gas, or synthetic gas usable for fuel or mixture thereof, radon, asbestos, and “source,” “special nuclear” and “by-product” material as defined in the Atomic Energy Act of 1985, 42 U.S.C. §§3011 et sea. iii. Any easements and/or access rights affecting the Real Property. iv. All other matters of material significance affecting the Real Property. b. BUYER SPECIFICALLY ACKNOWLEDGES THAT SELLER IS SELLING AND BUYER IS PURCHASING THE REAL PROPERTY ON AN ‘AS IS WITH ALL FAULTS’ BASIS AND THAT BUYER IS NOT RELYING ON ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND WHATSOEVER, EXPRESS OR IMPLIED FROM SELLER, ITS AGENTS, OR BROKERS AS TO ANY MATTERS CONCERNING THE PROPERTY, INCLUDING WIHTOUT WITHOUT LIMITATION: i. The quality, nature, adequacy and physical condition of the Real Property. ii. The qualify, nature, adequacy and physical condition of soils, geology and any groundwater of the Real Property. iii. The existence, quality, nature, adequacy and physical condition of utilities serving the Real Property. iv. The development potential of the Real Property, and the Real Property’s use, habitability, merchantability, or fitness, suitability, value or adequacy of the Real Property for any particular purpose. v. The zoning or other legal status of the Real Property or any other public or private restrictions on use of the Real Property. vi. The compliance of the Real Property of its operation with any applicable codes, laws, regulations, statutes, ordinances, covenants, conditions and restrictions of any governmental or quasi-governmental entity or of any other person or entity. vii. The presence of Hazardous Materials on, under or about the Real Property or the adjoining or neighboring property. viii. The quality of any labor and materials used in any improvements on the Real Property. ix. The condition of title to the Real Property. x. The leases, service contracts, or other agreements affecting the Real Property. xi. The economics of the operation of the Real Property to be conveyed.