Natural Hazards Disclosures. As used herein, the term “Natural Hazard Area” shall mean those areas identified as natural hazard areas or natural hazards in the Natural Hazard Disclosure Act, California Government Code Sections 8589.3, 8589.4, 8589.5 8875.6, 8875.9, 8893.2, 8893.3, and 51183.5, and California Public Resources Code Sections 2621, et. seq., 2621.9, 2694, and 4125, 4136, California Civil Code section 1103 et. seq. and 2079.9, Business and Professions Code section 10147 and any successor statutes or laws (the “Natural Hazard Disclosure Act”). Seller shall have the Title Company prepare and provide to Purchaser a Natural Hazard Disclosure Statement (the “Natural Hazard Disclosure Statement”) in a form required by the Natural Hazard Disclosure Act prior to the Inspection Expiration Date. Purchaser acknowledges that Seller shall retain the services of the Title Company to examine the maps and other information made available to the public by government agencies for the purpose of enabling Seller to fulfill its disclosure obligations with respect to the Natural Hazard Disclosure Act and to prepare the written report of the result of its examination (the “Natural Hazard Report”). Purchaser acknowledges that Purchaser’s receipt of the Natural Hazard Disclosure Statement and the Natural Hazard Report fully and completely discharges Seller from its disclosure obligations under the Natural Hazard Disclosure Act, and, for the purposes of this Agreement, the provisions of California Civil Code Section 1102.4, 1103.4, and 1103, et. seq. and 42 U.S.C. section 5154a regarding the non-liability of Seller for errors and/or omissions not within its personal knowledge shall be deemed to apply with respect to the Natural Hazard Disclosure Act, and the preparer of such Natural Hazard Report shall be deemed to be an expert dealing with matters within the scope of its expertise with respect to the examination and written report regarding the natural hazards referred to above. Purchaser acknowledges and agrees that the matters set forth in the Natural Hazard Disclosure Statement may change on or prior to the Closing and that Seller has no obligation to update, modify, or supplement the Natural Hazard Disclosure Statement.
Natural Hazards Disclosures. The parties acknowledge that the “Disclosure Statutes” (as defined below) provide that a seller of real property must make certain disclosures regarding certain natural hazards potentially affecting the property, as more particularly provided therein. As used in this Agreement, “Disclosure Statutes” means, collectively, California Government Code Sections 8589.3, 8589.4 and 51183.5, California Public Resources Code Sections 2621.9, 2694 and 4136 and any other California statutes that require Seller to make disclosures concerning the Property. Seller shall order a Natural Hazard Disclosure Report for the Property (the “Report”) from the Title Company or another reputable company and shall deliver the Report to Purchaser promptly upon Seller’s receipt thereof, and in no event later than five (5) days prior to the expiration of the Inspection Period. Purchaser hereby agrees as follows with respect to the Disclosure Statutes and the Report:
Natural Hazards Disclosures. The parties acknowledge that certain statutes of the State of California (the “Disclosure Statutes”) provide that a seller of real property must make certain disclosures regarding certain natural hazards potentially affecting the property, as more particularly provided therein. Seller shall order a Natural Hazard Disclosure Report for the Property (the “Report”) from the Title Company or another reputable company and shall deliver the Report to Purchaser promptly upon Seller’s receipt thereof, and in no event later than fifteen (15) days prior to the expiration of the Inspection Period. Purchaser hereby agrees as follows with respect to the Disclosure Statutes and the Report:
Natural Hazards Disclosures. The term "Natural Hazard Area" means those areas identified as natural hazards in the Natural Hazard Disclosure Act, California GOVERNMENT CODE §§ 8589.3, 8589.4, and 51183.5, and California PUBLIC RESOURCES CODE §§ 2621.9, 2694, and 4136, and any successor statutes or laws ("Act"). Seller will cause a third-party service to provide Buyer with a Natural Hazard Disclosure Statement ("Disclosure Statement") in a form required by the Act. Buyer acknowledges and agrees that nothing contained in the Disclosure Statement shall release Buyer from its obligation to fully investigate the condition of the Property, including whether the Property is in any Natural Hazard Area. Buyer further acknowledges and agrees that the matters set forth in the Disclosure Statement may change on or prior to the Closing and that Seller has no obligation to update, modify or supplement the Disclosure Statement. Buyer shall be solely responsible for preparing and delivering its own Natural Hazard Disclosure Statement to subsequent prospective buyers of the Property.
Natural Hazards Disclosures. Buyer acknowledges that Seller has complied with the disclosure obligations relating to seismic, geologic and other natural hazards imposed on Seller by California law by delivering to Buyer a Natural Hazards Disclosure Report.
