ARTICLE 10. Condition of Property; Disclaimer; Release of Claims .

     10.1.    THE PROPERTY IS BEING SOLD "AS IS", "WHERE IS", AND "WITH ALL FAULTS" AS OF CLOSING, WITHOUT ANY REPRESENTATION OR WARRANTY WHATSOEVER AS TO ITS CONDITION, FITNESS FOR ANY PARTICULAR PURPOSE, MERCHANTABILITY OR ANY OTHER WARRANTY, EXPRESS OR IMPLIED, EXCEPT AS SPECIFICALLY SET FORTH IN THIS AGREEMENT.  SELLER SPECIFICALLY DISCLAIMS ANY WARRANTY, GUARANTY OR REPRESENTATION, ORAL OR WRITTEN, PAST OR PRESENT, EXPRESS OR IMPLIED, CONCERNING THE PROPERTY, EXCEPT AS SPECIFICALLY SET FORTH IN THIS AGREEMENT.  BUYER ACKNOWLEDGES THAT BUYER IS PURCHASING THE PROPERTY BASED SOLELY ON BUYER'S OWN INDEPENDENT INVESTIGATIONS AND FINDINGS AND NOT IN RELIANCE ON ANY INFORMATION PROVIDED BY SELLER OR SELLER'S AGENTS OR CONTRACTORS.  SELLER HAS MADE NO AGREEMENT TO ALTER, REPAIR OR IMPROVE ANY OF THE PROPERTY.  However, nothing contained in this Section is intended to modify any of the provisions of Section 7.2.

     10.2.     Without limiting the provisions of Section 10.1, Buyer releases Seller from any and all Claims (whether known or unknown, and whether contingent or liquidated) arising from or related to (a) any construction defects, errors or omissions in the design or construction of the Property, or (b) other conditions (including environmental conditions) affecting the Property.  The release set forth in this Section specifically includes any Claims under any Environmental Laws.  "Environmental Laws" includes the Resource Conservation and Recovery Act (42 U.S.C. 6901, et seq.), the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended by the Superfund Amendments and Reauthorization Act (42 U.S.C. 9601, et seq.), and the Clean Air Act (42 U.S.C. 4701, et seq.), as any of the same may be amended from time to time, and any comparable or successor provisions of federal, state or local law, and any regulations, orders, rules, procedures, guidelines and the like promulgated in connection therewith.

TERMS OF USE AND DISCLAIMER

The information presented on this website is for informational purposes only as an aid to independent research and preparation of materials when formulating contracts and does not constitute legal advice. The information contained herein should not be relied upon or used as a substitute for consultation with legal, accounting, tax, career or other professional advisors or services.