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<br />Purchaser may terminate this Agreement by giving written notice to Seller in . <br />which event this Agreement shall become null and void, Seller shall refund the <br />Earnest Money and neither party shall have any further right or obligation <br />hereunder. <br /> <br />4, Survey. Purchaser, at its sole cost, shall prepare a survey for the Real <br />Property and may enter upon the Real Property for such purpose. Purchaser <br />shall hold Seller harmless from any liability resulting solely from the entering upon <br />the Real Property or the performing of any of the functions necessary to prepare <br />a survey pursuant to this Section 4 (the "Survey"). Purchaser shall provide Seller <br />with a copy of the Survey. <br /> <br />5. Inspection. Purchaser, its agents and designees, are hereby <br />granted the right at any time or times after the date hereof to inspect, analyze, <br />and test the Real Property and its various components. Purchaser shall hold <br />Seller harmless from any liability resulting solely from the entering upon the Real <br />Property or the performing of any of the tests or inspections referred to in this <br />Section 6 by Purchaser, its agents or designees. <br /> <br />6. "AS IS" Condition. The Real Property described herein is being sold <br />in an "AS IS" condition. Purchaser acknowledges that it reviewed the <br />Demolition Survey Report attached as Exhibit 8; the Wetland Delineation Report . <br />attached as Exhibit c; the Environmental Condition Report, attached as Exhibit <br />D; and has inspected the Real Property. As part of the consideration for the <br />purchase of the Real Property, Purchaser, at its sole cost, will undertake any <br />remediation procedures required by the Minnesota Pollution Control Agency or <br />otherwise, as necessary, to remove any Hazardous Substances (as hereinafter <br />defined), if any, from the Real Property and shall indemnify and hold the City <br />harmless from the payment of any such costs. <br /> <br />7. Covenants and Warranties of Seller. Seller covenants and warrants <br />to Purchaser as follows: <br /> <br />7.1 Ownership of Real Property. Seller is the owner of good, marketable, <br />and insurable fee title to the Real Property free and clear of all title <br />defects, options, rights of first refusal, easements, restrictive <br />covenants, encroachments, survey defects, restrictions or limitations <br />on the Real Property, liens or encumbrances, except those of <br />record. <br /> <br />7.2 Encroachments. There are no encroachments upon any of the Real <br />Property and no portion of any Improvement encroaches upon any <br /> <br />. <br /> <br />2 <br />