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<br />Investigations"). 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 of
<br />the discovery or presence of Hazardous Substances (as such term is defined in this Section)
<br />on the Property or otherwise arising out of Seller's noncompliance with any Environmental
<br />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, liquified 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 contaminants"
<br />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 ofthe Property is condemned, taken by eminent domain, or damaged by cause of any
<br />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 all of Seller's right, .
<br />title and interest in and to any claims Seller may have to insurance proceeds, condemnation
<br />awards and/or any causes of action with respect to such condemnation or taking of or
<br />damage to the Property, and (3) pay to Buyer by certified or official bank check all payments
<br />made prior to the Closing Date under such insurance policies or by such condemning
<br />authorities; or (b) to terminate this Agreement by giving notice of such termination to Seller,
<br />whereupon this Agreement shall be terminated, any amount previously paid by Buyer to
<br />Seller, including the Earnest Money, shall be refunded to Buyer and thereafter neither party
<br />shall have any further obligations or liabilities to the other. If the right to terminate this
<br />Agreement is not exercised within such thirty (30) day period, such right shall be deemed to
<br />have been waived. In the event Buyer does not terminate this Agreement pursuant to this
<br />Section, Seller shall not designate counsel, appear in, or otherwise act with respect to the
<br />condemnation proceedings without Buyer's prior written consent, which consent shall not be
<br />unreasonably withheld.
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<br />5. ContillQencies. Unless waived in writing, the obligation to purchase and sell
<br />the Property shall be subject to (a) performance ofthe other party's obligations hereunder; (b)
<br />the continued accuracy of the other party's representations and warranties set out in this
<br />Agreement; and (c) each party's satisfaction, in it's sole discretion, as to the contingencies
<br />described in this Section:
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<br />5,1 Marketability, On or before the Closing Date, Buyer shall have received
<br />from Title an irrevocable commitment to issue an owner's title insurance policy for the
<br />Property showing fee and marketable title in Seller containing such endorsements as
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<br />Purchase Agreemenl4
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