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<br />testing of the Property, including surveying and testing of soil and groundwater ("Buyer's .
<br />Investigatians"). Buyer shall pay all costs and expenses of Buyer's Investigations. Upon
<br />written request of Seller, Buyer shall provide to Seller copies of all written test results and
<br />reports. Buyer shall not be responsible for liens, liability, loss, expense or costs arising out
<br />of the discovery or presence of Hazardous Substances (as such term is defined in this
<br />Section) on the Property or otherwise arising out of Seller's noncompliance with any
<br />Environmental Law (as such term is defined in Section 9) or other law or regulation.
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<br />For purposes of this Agreement, "Hazardous Substances" shall include without
<br />limitation polychlorinated biphenyls, petroleum, including crude oil or any fraction thereof,
<br />petroleum products, heating oil, natural gas, natural gas liquids, Iiquified natural gas or
<br />synthetic gas usable for fuel, and shall include without limitation substances defined as
<br />"hazardous substances," "toxic substances," "hazardous waste", "pollutants or
<br />contaminants" or similar substances under any Environmental Law.
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<br />4. Insurance; Risk of Loss. Seller assumes all risk of destruction, loss or
<br />damage to the Property prior to the Closing Date. If, prior to the Closing Date, all or any
<br />portion of the Property is condemned, taken by eminent domain, or damaged by cause of
<br />any nature, or the Property is rendered untenable, Seller shall, to the extent Seller receives
<br />knowledge of the same, immediately give Buyer notice of such condemnation, taking or
<br />damage. After receipt of notice of such condemnation, taking or damage (from Seller or
<br />otherwise), Buyer shall have the option (to be exercised within thirty (30) days after Seller's
<br />notice) either (a) to require Seller to (1) convey the Property at Closing to Buyer in its .
<br />damaged condition, upon and subject to all of the other terms and conditions of this
<br />Agreement without reduction of the Purchase Price, (2) assign to Buyer a[1 of Seller's right,
<br />title and interest in and to any claims Seller may have to insurance proceeds,
<br />condemnation awards and/or any causes af action with respect to such condemnation or
<br />taking of or damage to the Property, and (3) pay to Buyer by certified or official bank check
<br />all payments made prior to the Closing Date under such insurance policies or by such
<br />condemning authorities; or (b) to terminate this Agreement by giving notice of such
<br />termination to Seller, whereupon this Agreement shall be terminated, any amount
<br />previously paid by Buyer to Seller, including the Earnest Money, shall be refunded to Buyer
<br />and thereafter neither party shall have any further obligations or liabilities to the other. If
<br />the right to terminate this Agreement is not exercised within such thirty (30) day period,
<br />such right shall be deemed to have been waived. In the event Buyer does not terminate
<br />this Agreement pursuant to this Section, Seller shall not designate counsel, appear in, or
<br />otherwise act with respect to the condemnation proceedings without Buyer's prior written
<br />consent, which consent shall not be unreasonably withheld.
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<br />5. Continqencies. Unless waived by Buyer in writing, Buyer's obligation to
<br />purchase the Property shall be subject to (a) performance of Seller's obligations hereunder;
<br />(b) the continued accuracy of Seller's representations and warranties set out in this
<br />Agreement; and (c) Buyer's satisfaction, in Buyer's sole discretion, as to the contingencies
<br />described in this Section:
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<br />Purchase Agreement 3,doc
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