Flood Hazard Zone. Purchaser acknowledges that if the Real Property is located in an area which the Secretary of the Department of Housing and Urban Development has found to have special flood hazards, then pursuant to the National Flood Insurance Program, Purchaser will be required to purchase flood insurance in order to obtain a loan secured by the Real Property from a federally regulated financial institution or a loan insured or guaranteed by an agency of the United State government. Seller shall have no responsibility to determine whether the Real Property is located in an area which is subject to the National Flood Insurance Program.
Flood Hazard Zone. Tenant acknowledges that if the Option ----------------- Property is located in an area which the Secretary of HUD has found to have special flood hazards, then pursuant to the National Flood Insurance Program, Tenant will be required to purchase flood insurance in order to obtain any loan secured by the Option Property from any federally regulated financial institution or a loan insured or guaranteed by an agency of the United States government. Tenant shall have sole responsibility to determine whether the Option Property is located in an area which is subject to the National Flood Insurance Program.
Flood Hazard Zone. Buyer acknowledges that if any Property is located in an area which the Secretary of HUD has found to have special flood hazards, then pursuant to the National Flood Insurance Program, Buyer will be required to purchase flood insurance in order to obtain any loan secured by such Property from any federally regulated financial institution or a loan insured or guaranteed by an agency of the United States government. Buyer shall have sole responsibility to determine whether any Property is located in an area which is subject to the National Flood Insurance Program. By initialing below, the Buyer acknowledges that: (i) this entire Section 7 has been read and fully understood; (ii) the Buyer has had the opportunity to ask questions of its legal counsel about its meaning and significance; and (iii) the Buyer has accepted and agreed to the terms set forth in this Section 7. Buyer further represents and warrants that Buyer’s legal counsel is experienced and knowledgeable in sophisticated and complex real estate transactions and in particular the acquisition of land similar to the Properties. BUYER’S INITIALS
Flood Hazard Zone. Except as disclosed on surveys provided by the Companies and BSI to Acquiror, to the knowledge of the Companies and BSI (with respect to the BSI Properties): (i) the Real Property is not situated in a flood hazard area as defined by the Federal Insurance Administration and (ii) no portion of the Real Property is located on or adjacent to navigable waters and no portion of the Real Property consists of filled-in land.
Flood Hazard Zone. Evidence satisfactory to Lender that none of the buildings or other structural improvements located or to be located on the Property is included in a special flood hazard area as designated by the Federal Emergency Management Agency on its Flood Hazard Boundary Map and Flood Insurance Rate Maps, and the Department of Housing and Urban Development, Federal Insurance Administration, Special Flood Hazard Area Maps, or, if any of such building or structural improvements are located in a special flood hazard area, evidence of flood insurance required by this Agreement and by applicable requirements of law.
