Common use of Representations and Warranties of Parties Clause in Contracts

Representations and Warranties of Parties. (a) Seller and Purchaser each represent and warrant to the other that they have been duly authorized to enter into and to perform under this Agreement and that the execution of this Agreement and the Closing do not and will not violate the terms of any agreement or obligation by which it or the Recreation Center Site is bound. (b) Seller hereby represents and warrants that no parties have options, rights to purchase, tenancy rights in, or otherwise in possession of, any portion of the Recreation Center Site except for the Seller and any contractors performing work related to the Development Agreement. (c) Seller and Purchaser each represent and warrant to the other that there are no claims, suits, or other proceedings threatened or pending against them which will materially and adversely affect their ability to perform their obligations hereunder. (d) Seller represents and warrants that, to the Knowledge of the Seller, except to the extent disclosed or referred to in that certain Phase One Environmental Report issued by META Environmental dated October 19, 2012, a copy of which Purchaser acknowledges having received: (i) there are no “wetlands,” burial grounds, cemeteries, archeology sites or landfills on the Recreation Center Site.