Common use of Inspection; Condition of Property; Subsequent Acts Clause in Contracts

Inspection; Condition of Property; Subsequent Acts. (a) Subject to Seller’s representations and warranties set forth herein and in the Deeds and Assignment and Assumption Agreement, Purchaser accepts the Assets “as is” and “where is,” subject to the risks of all defects and conditions. Seller has no obligation to repair or make any improvements to the Premises. The Purchaser acknowledges that full inspection of the Property has been made or will have been made by the Closing Date and that neither the Seller nor its agents, officers, employees or assigns shall be held to any covenant respecting the condition of the Property or any improvements thereon nor shall the Purchaser or Seller or the assigns of either be held to any covenant or agreement for alterations, improvements or repairs unless the covenant or agreement relied on is contained herein or is in writing and attached to and made a part of this Agreement. Purchaser acknowledges and agrees that any documents, cruises, compilations, timber inventories, environmental audits, assessments, surveys, plans, specifications, reports and studies (the “Information”) made available to Purchaser by Seller are or have been provided as information only and Seller makes no warranty whatsoever with respect to the accuracy or completeness of the Information. Without limiting the generality of the foregoing, SELLER EXPRESSLY DISCLAIMS ANY IMPLIED WARRANTY OF MERCHANTABILITY, AS WELL AS ANY WARRANTY WHATSOEVER WITH RESPECT TO THE MARKETABILITY, HARVESTABILITY, AGE, SPECIES MIX, SITE CLASSIFICATION, BOUNDARIES OF THE TIMBER OR THE PROPERTY, QUANTITIES, TIMBER GRDS, OR QUALITY OF ANY TIMBER ON THE PROPERTY OR SOILS STABILITY OR CONDITIONS.

Inspection; Condition of Property; Subsequent Acts. (a) Subject to Seller’s representations and warranties set forth herein and in the Deeds and Assignment and Assumption Agreement, Purchaser accepts the Assets “as is” and “where is,” subject to the risks of all defects and conditions. Seller has no obligation to repair or make any improvements to the Premises. The Purchaser acknowledges that full inspection of the Property has been made or will have been made by the Closing Date and that neither the Seller nor its agents, officers, employees or assigns shall be held to any covenant respecting the condition of the Property or any improvements thereon nor shall the Purchaser or Seller or the assigns of either be held to any covenant or agreement for alterations, improvements or repairs unless the covenant or agreement relied on is contained herein or is in writing and attached to and made a part of this Agreement. Purchaser acknowledges and agrees that any documents, cruises, compilations, timber inventories, environmental audits, assessments, surveys, plans, specifications, reports and studies (the “Information”) made available to Purchaser by Seller are or have been provided as information only and Seller makes no warranty whatsoever with respect to the accuracy or completeness of the Information. Without limiting the generality of the foregoing, SELLER EXPRESSLY DISCLAIMS ANY IMPLIED WARRANTY OF MERCHANTABILITY, AS WELL AS ANY WARRANTY WHATSOEVER WITH RESPECT TO THE MARKETABILITY, HARVESTABILITYHARVEST ABILITY, AGE, SPECIES MIX, SITE CLASSIFICATION, BOUNDARIES OF THE TIMBER OR THE PROPERTY, QUANTITIES, TIMBER GRDS, OR QUALITY OF ANY TIMBER ON THE PROPERTY OR SOILS STABILITY OR CONDITIONS.

Inspection; Condition of Property; Subsequent Acts. (a) Subject only to Seller’s representations and warranties expressly set forth herein and in the Deeds and Assignment and Assumption Agreement, as limited by the limitations on survival of, and other limitations on, such representations and warranties contained herein or in the Deeds or in the Assignment and Assumption Agreement, Purchaser accepts the Assets “as is” and “where is,, ” with all faults and subject to the risks of all defects and conditions, known or unknown, at Purchaser’s risk and without adjustment to or reduction of the Purchase Price. Seller has no obligation to repair or make any improvements to the PremisesProperty. The Purchaser acknowledges that full inspection of the Property has been made or will have been made by the Closing Date and that neither the Seller nor its agents, officers, employees or assigns shall be held to have made any representation, warranty or covenant respecting the condition of of, or otherwise with respect to, the Property or any improvements thereon or any of the other Assets, nor shall the Purchaser or Seller or the assigns of either be held to have made any covenant or agreement for alterations, improvements or repairs or otherwise with respect to the Assets unless the covenant or agreement relied on is contained herein or is in writing and attached to and made a part of in this Agreement. Purchaser acknowledges and agrees that any documents, cruises, compilations, timber inventories, environmental audits, assessments, surveys, plans, specifications, reports and studies (the “Information”) made available to Purchaser by Seller Seller, including without limitation all such Information as constitutes part of the Personal Property, are or have been provided as information only without any representation, and Seller makes no representation or warranty whatsoever with respect to the accuracy or completeness of of, or otherwise with respect to, the Information. Without limiting the generality of the foregoing, SELLER EXPRESSLY DISCLAIMS ANY IMPLIED WARRANTY OF MERCHANTABILITY, AS WELL AS ANY WARRANTY WHATSOEVER WITH RESPECT TO THE MARKETABILITY, HARVESTABILITY, AGE, SPECIES MIX, SITE CLASSIFICATION, BOUNDARIES OF THE TIMBER OR THE PROPERTY, QUANTITIES, TIMBER GRDSGRADES, OR QUALITY OF ANY TIMBER ON THE PROPERTY OR ACCESS, UTILITIES, ZONING, ACREAGE OR SOILS STABILITY OR CONDITIONS.. (b) Between the date of this Agreement and the Closing Date, Seller shall maintain and keep the Property in substantially the same condition as existed on the date of this Agreement, except Seller shall have the right to continue to cut timber pursuant to its May 1 through November 15, 2005 harvest plan (the “Harvest Plan”). The following chart illustrates the Harvest Plan and the values associated with the Harvest Plan: Product $/Ton Plan Volume (tons) Total Plan Value Hardwood/Aspen Pulpwood $10.00 303,750 $3,037,500 Softwood/Pine Pulpwood $13.00 42,650 $ 554,450 Hardwood Sawtimber $86.00 44,550 $3,831,300 Softwood Sawtimber $26.00 14,080 $ 366,080 Totals 405,030 $7,789,330