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ADDENDUM TO PURCHASE CONTRACT
To
the extent that the provisions of this Addendum conflict with the provisions of
the Purchase Agreement, the provisions of this Addendum shall control.
Condition
of Property and Disclaimer
.
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. Seller specifically
disclaims any warranty, guaranty or representation, oral or written, past or
present, express or implied, concerning the property.
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.
Buyer
hereby waives any contingencies or conditions relating to inspecting the
Property, and Buyer waives any further right to make an examination and
investigation of the Property, including but not limited to conducting tests,
investigations, review of leases, inspections, studies, and surveys, and Buyer
expressly waives any such inspections. Buyer
assumes all risks relating to the condition of the Property including any and
all matters which such an investigation might have disclosed.
Release
of Claims.
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.
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