CCP 06-16-1997 - Laserfiche WebLink

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I' I It I pursuant to the Comprehensive Environmental Response, Compensation and Liability Act (42 U.S.C. 9601, et seq.), the Resource ConseJVation and Recovery Act (42 D,S.C, 6901 et seq.), or any other Environmental Laws, and (C) asbestos, I urea fonnaldehyde, polychlorinated biphenyls, and petroleum products. (ii) "Environmental Laws" shall be defined as all present or future I laws, statuteS, treaties, rules, regulations, orders, ordinllIlces, permits, licenses, judgJt1ents or decrees enacted by any Governmental Authority to regulate any materials, wastes and/or substances in the environment. I (5) Seller possesses good and marketable fee simple title to the Property (or. is a party to a valid and binding contract to acquiJe such title and will do so on or before I Closing and shall transfer title to the same to purchaser by special warranty deed (the "Deed") dated as of the Closing, subject only to the Permitted Exceptions. I (6) The Land is assessed as a separate ta."t parcel by the taxing authoritiC$ having jurisdiction thereot Ie (7) Seller is not a "foreign corporation, "foreign partnership" or "foreign estate" as those tennS are defined in the Internal Revenue Code of 1986, as amended, and that Seller will furnish to Purchaser a so-called "FIRPT An certificate verifYing the I foregoing. (B) Purchaser represents and warrants to Seller that Purchaser has the full authority I and power to execute this Agreement and to close the sale of the Property, which representation and warranty shall be deemed made by purchaser to Seller as of the Final Execution Date and again as of the Closing Date, shall survive the Closing and, but for such representation and I warranty, Seller would not execute this Agreement, 9, RISK OF LOSS; CONDEMNATION, I (A) Seller shall bear the risk of loss until Closing. All hazard insurance, if any, maintained by or on behalf of Seller in respect to the Property shall be canceled as of the Closing I Date, (B) If, prior to the Closing Date, all or any part of the Property shall be condemned by I governmental or other lawful authority, Purchaser shall have the option of either (i) completing this transaction, in which event (a) there shall be no reduction of the Purchase Price, (b) Sener I shall have no duty to repair or restore, (c) Seller shall pay to Purchaser all condemnation proceeds theretofore or thereafter received by Seller with respect to such condemnation, (d) Seller shall assign to purchaser all rights of Seller in and to such condemnation proceeds, and (e) t' Seller shall furnish to purchaser such documents, cooperation and assistance as Purchaser requires to enforce the rights of Seller with respect thereto; or (ii) terminating this Agreement, in which event the Earnest Money shall be returned to purchaser and neither party shall have any I 5 90'd 61>'0.'. lZ6 c't9 'l;I'd '3)tI3a '8 A3ial;l/:lff n:n .'.66't~'t-NIl1"