Natural Hazard Area definition
Natural Hazard Area means those areas identified as natural hazards in the Natural Hazard Disclosure Act, California Government Code Sections 8589.3, 8589.4, and 51183.5, and California Public Resources Code Sections 2621.9, 2694, and 4136, and any successor statutes or laws (the “Act”). Seller shall provide Purchaser with a Natural Hazard Disclosure Statement (“Disclosure Statement”). Purchaser acknowledges that Seller has retained the services of an expert (the “Natural Hazard Expert”) 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 Act and to prepare a written report of the result of its examination (the “Report”). Purchaser acknowledges that, except as otherwise expressly set forth in this Agreement, the Report fully and completely discharges Seller from its disclosure obligations under the Act, and, for the purpose of this Agreement, the provisions of Civil Code Section 1103.4 regarding the non-liability of Seller for errors or omission not within its personal knowledge shall be deemed to apply and the Natural Hazard Expert shall be deemed to be an expert dealing within the scope of its expertise with respect to the examination and Report. Purchaser acknowledges and agrees that nothing contained in the Disclosure Statement shall release Purchaser from its obligation to fully investigate the condition of the Property, including, without limitation, whether the Property is located in any Natural Hazard Area. Purchaser further acknowledges and agrees that the matters set forth in the Disclosure Statement or Report may change on or prior to the Closing Date and that Seller has no obligation to update, modify, or supplement the Disclosure Statement or Report. Purchaser shall be solely responsible for preparing and delivering its own Natural Hazard Disclosure Statement to subsequent prospective buyers of the Property. The provisions of this Section 10.22 shall survive the closing of the transaction contemplated by this Agreement.
Natural Hazard Area means those areas identified as natural hazard areas or natural hazards in the Natural Hazard Disclosure Act, California Government Code Sections 8589.3, 8589.4 and 51183.5, and California Public Resources Code Sections 2621.9, 2694 and 4136, and any successor statutes or laws (the “Act”). The Purchaser hereby acknowledges that, prior to the execution of this Agreement, the Purchaser has had access to all maps and other information made available to the public by government agencies, the Seller has fully and completely fulfilled its disclosure obligations with respect to the Act and the Seller is fully and completely discharged from any further disclosure obligations under the Act. The Purchaser acknowledges and agrees that nothing contained herein releases the Purchaser from its obligation to fully investigate and satisfy itself with the condition of the Property prior to the date hereof, including, without limitation, whether the Property is located in any Natural Hazard Area. The Purchaser further acknowledges and agrees that matters may change on or prior to the Closing and that the Seller has no obligation to update, modify or supplement any information. The Purchaser is solely responsible for all disclosures to subsequent prospective purchasers of the Property.
Natural Hazard Area means an area containing or directly affected by a natural hazard.
Examples of Natural Hazard Area in a sentence
Purchaser acknowledges and agrees that nothing contained in the Disclosure Statement shall release Purchaser from its obligation to fully investigate the condition of the Property, including, without limitation, whether the Property is located in any Natural Hazard Area.
The Purchaser acknowledges and agrees that nothing contained herein releases the Purchaser from its obligation to fully investigate and satisfy itself with the condition of the Property prior to the date hereof, including, without limitation, whether the Property is located in any Natural Hazard Area.
Purchaser acknowledges and agrees that nothing contained in the California NHDS releases Purchaser from its obligation to fully investigate and satisfy itself with the condition of the Property during the Inspection Period, including, without limitation, whether the Property is located in any California Natural Hazard Area.
Purchaser acknowledges and agrees that nothing contained in the Disclosure Statement shall release Purchaser from its obligation to fully investigate the condition of the Properties, including, without limitation, whether the Properties are located in any Natural Hazard Area.
Buyer shall have no claims against Seller if the NHD Statement discloses or fails to disclose that any Property is located in a Natural Hazard Area.
More Definitions of Natural Hazard Area
Natural Hazard Area means those areas identified as natural hazard areas or natural hazards in the Natural Hazard Disclosure Act, California Government Code Sections 8589.3, 8589.4 and 51183.5, and California Public Resources Code Sections 2621.9, 2694 and 4136, and any successor Applicable Laws (the "Hazards Act"). Buyer and Shell acknowledge that, pursuant to the Hazards Act, Shell is required to disclose if any portion of the Property lies within the following Natural Hazard Areas: (i) a special flood hazard area designated by the Federal Emergency Management Agency (California Civil Code Section 1102.l7); (ii) an area of potential flooding (California Government Code Section 8589.4); (iii) a very high fire hazard severity zone (California Government Code Section 51183.5); (iv) a wild land area that may contain substantial forest fire risks and hazards (Public Resources Code Section 4136); (v) an earthquake fault or special studies zone (Public Resources Code Section 2621 et. seq.) or (vi) a seismic hazard zone (Public Resources Code Section 2694). Buyer and Aera acknowledge that they have employed the services of JCP Geologists Inc. ("Natural Hazard Expert") to examine the maps and other information specifically made available to the public by Governmental Entities for the purposes of enabling Aera to fulfill its disclosure obligations with respect to the natural hazards referred to in California Civil Code Section 1102.6c(a) and to report the results of its examination to Buyer and Aera in writing. The written report prepared by the Natural Hazard Expert, a copy of which is attached as Exhibit I, regarding the results of its examination fully and completely discharges Shell from its disclosure obligations referred to herein, and, for the purposes of this Agreement, the provisions of Civil Code Section 1102.4 regarding the non- liability of Shelf for errors and/or omissions not within its personal knowledge shall be deemed to apply and the Natural Hazard Expert 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. Notwithstanding anything to the contrary contained in this Agreement, in no event shall Shell have any responsibility for matters not actually known to Shell or for matters for which Buyer has assumed the risk under any other provision of this Agreement.
Natural Hazard Area means those areas identified as natural hazard areas or natural hazards in California Government Code Sections 8589.3, 8589.4 and 51183.5, and California Public Resources Code Section 2621.9, 2694 and 4136, and any successor statutes or laws (collectively, the "Act"). Within ten (10) days of the date of this Agreement, Seller shall provide Buyer with a Natural Hazard Disclosure Statement (the "Disclosure Statements") in a form required by the Act for each Facility. Buyer acknowledges that Seller retained the services of LGS Reports, Inc. 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 Act and to prepare the written report of the results of its examination (the "Reports"). Provided Seller delivers the Disclosure Statements to Buyer within such ten (10) day period, Buyer acknowledges that the Reports will fully and completely discharge Seller from its disclosure obligations under the Act. Buyer acknowledges and agrees that nothing contained in the Disclosure Statements will release Buyer from its obligation to fully investigate and satisfy itself with the condition of the Property during the Due Diligence Period, including, without limitation, whether any Facility is located in any Natural Hazard Area. Buyer further acknowledges and agrees that the matters set forth in the Disclosure Statements or Reports may change on or prior to the Closing and that Seller has no obligation to update, modify or supplement the Disclosure Statements or Reports. Buyer is solely responsible for preparing and delivering its own Disclosure Statements to subsequent prospective purchasers of the Property.
Natural Hazard Area means those areas identified as natural hazards in the Natural Hazard Disclosure Act, California Government Code Sections 8589.3, 8589.4, 8589.5 and 51183.5, and California Public Resources Code Sections 2621.9, 2694, 2696 and 4136, and any successor statutes or laws.
Natural Hazard Area means those areas identified as natural hazard areas or natural hazards in the Natural Hazard Disclosure Act, California Governance Code Sections 8589.3, 8589.4 and 51183.5, and California Public Resources Code Sections 2621.9, 2694 and 4136, and any successor statutes or laws (the “Act”). Prior to the Execution Date, Sellers have made available to Buyer Natural Hazard Disclosure Statements (the “Disclosure Statement”) for each Real Property Interest in a form and to the extent required by the Act and including various other disclosures as required by applicable Laws. The Buyer acknowledges that the Sellers have retained the services of Fidelity National Disclosure Source, LLC (doing business as Disclosure Source) to examine the maps and other information made available to the public by governmental agencies for the purpose of enabling the Sellers to fulfill their disclosure obligations with respect to the Act. The Buyer acknowledges that the Disclosure Statement fully and completely discharges Sellers from their disclosure obligations under the Act and other applicable Laws.
Natural Hazard Area has the meaning set forth in Section 7.13.
Natural Hazard Area means those areas identified as natural hazard areas or natural hazards in the Natural Hazard Disclosure Act, California Government Code Sections 8589.3, 8589.4 and 51183.5 and California Public Resources Code Sections 2621.9, 2694 and 4136, and any successor statutes or laws (the “CA Act”). To the extent required under applicable law, the Sellers shall cause the Title Company to deliver to the Purchasers as soon after the Effective Date as is practicable a Natural Hazard Disclosure Statement (the “CA Disclosure Statement”) for each Real Property located in California in a form required by the CA Act. The Purchasers acknowledge that each CA Disclosure Statement will fully and completely discharge the Sellers from any disclosure obligations under the CA Act and under California Civil Code Sections 1102 through 1102.17. Nothing contained in the CA Disclosure Statements release the Purchasers from their obligation to fully investigate and satisfy themselves with the condition of the Real Property located in California prior to executing this Agreement, including, without limitation, whether any of the Real Property located in California is located in any Natural Hazard Area. The Purchasers further acknowledge and agree that the matters set forth in the CA Disclosure Statements may change on or prior to the Closing and that the Sellers have no obligation to update, modify or supplement the CA Disclosure Statements. The Purchasers are solely responsible for preparing and delivering their own CA Disclosure Statements to subsequent prospective purchasers of the Real Property located in California.
Natural Hazard Area means those areas identified as natural hazard areas or natural hazards in the Natural Hazard Disclosure Act, California Government Code Sections 8589.3, 8589.4 and 51183.5, and California Public Resources Code Sections 2621.9, 2694 and 4136, and any successor statutes or laws (the "Act"). Within ten (10 Business Days after the date of this Agreement, Seller shall provide Buyer with a Natural Hazard Disclosure Statement (the "Disclosure Statement") in a form required by the Act. Buyer acknowledges that Seller retained the services of Chicago Title 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 Act and to prepare the written report of the result of its examination (the "Report"). Buyer acknowledges that the Report fully and completely discharges Seller from its disclosure obligations under the Act and under California Civil Code Sections 1102 through 1102.