or
co-operative, unless otherwise required by law, the Buyer, at the Buyer's own
expense, is responsible for obtaining and reviewing the covenants, conditions
and restrictions, and bylaws of the condominium or planned unit development or
cooperative within ten (10) calendar days of the Effective Date. The Seller
agrees to use reasonable efforts, as determined at the Seller's sole discretion,
to assist the Buyer in obtaining a copy of the covenants, conditions and
restrictions, and bylaws. The Buyer will be deemed to have accepted the
covenants, conditions and restrictions, and bylaws if the Buyer does not notify
the Seller in writing within fifteen (15) calendar days of the Effective Date of
the Buyer's objection to the covenants, conditions and restrictions, and/or
bylaws.
13. CONDITION OF PROPERTY:
THE BUYER UNDERSTANDS THAT THE SELLER ACQUIRED THE PROPERTY BY FORECLOSURE, DEED
-IN-LIEU OF FORECLOSURE, FORFEITURE, TAX SALE, OR SIMILAR PROCESS, AND
CONSEQUENTLY, THE SELLER HAS LITTLE OR NO DIRECT KNOWLEDGE CONCERNING THE
CONDITION OF THE PROPERTY. AS A MATERIAL PART OF THE CONSIDERATION TO BE
RECEIVED BY THE SELLER
BUYER (Initials) /s/CJ
SELLER (Initials) /s/RW
UNDER THE AGREEMENT AS NEGOTIATED AND AGREED TO BY THE BUYER AND THE SELLER, THE
BUYER ACKNOWLEDGES AND AGREES TO ACCEPT THE PROPERTY IN "AS IS" CONDITION AT THE
TIME OF CLOSING, INCLUDING, WITHOUT LIMITATION, ANY HIDDEN DEFECTS OR
ENVIRONMENTAL CONDITIONS AFFECTING THE PROPERTY, WHETHER KNOWN OR UNKNOWN,
WHETHER SUCH DEFECTS OR CONDITIONS WERE DISCOVERABLE THROUGH INSPECTION OR NOT.
THE BUYER ACKNOWLEDGES THAT THE SELLER, AND ITS AGENTS, BROKERS, AND
REPRESENTATIVES HAVE NOT MADE, AND THE SELLER SPECIFICALLY NEGATES AND
DISCLAIMS, ANY REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS, AGREEMENTS, OR
GUARANTEES, IMPLIED OR EXPRESS, ORAL OR WRITTEN, WITH RESPECT TO:
(A) THE PHYSICAL CONDITION OR ANY OTHER ASPECT OF THE PROPERTY INCLUDING, BUT
NOT LIMITED TO, THE STRUCTURAL INTEGRITY OR THE QUALITY OR CHARACTER OF
MATERIALS USED IN CONSTRUCTION OF ANY IMPROVEMENT, AVAILABILITY AND QUANTITY OR
QUALITY OF WATER, STABILITY OF THE SOIL, SUSCEPTIBILITY TO LANDSLIDE OR
FLOODING, SUFFICIENCY OF DRAINAGE, WATER LEAKS, WATER DAMAGE, MOLD OR ANY OTHER
MATTER AFFECTING THE STABILITY OR INTEGRITY OF THE PROPERTY;
(B) THE CONFORMITY OF THE PROPERTY TO ANY ZONING, LAND USE OR BUILDING CODE
REQUIREMENTS OR COMPLIANCE WITH ANY LAWS, STATUTES, RULES, ORDINANCES, OR
REGULATIONS OF ANY FEDERAL, STATE OR LOCAL GOVERNMENTAL AUTHORITY, OR THE
GRANTING OF ANY REQUIRED PERMITS OR APPROVALS, IF ANY, OF ANY GOVERNMENTAL
BODIES THAT HAD JURISDICTION OVER THE CONSTRUCTION OF THE ORIGINAL STRUCTURE,
ANY IMPROVEMENTS, AND/OR ANY REMODELING OF THE STRUCTURE;
(C) THE HABITABILITY, MERCHANTABILITY, MARKETABILITY, PROFITABILITY, OR FITNESS
FOR A PARTICULAR PURPOSE OF THE PROPERTY, INCLUDING REDHIBITORY VICES AND
DEFECTS, APPARENT OR NON-APPARENT OR LATENT, THAT NOW EXIST OR MAY HEREAFTER
EXIST AND THAT, IF KNOWN TO BUYER, WOULD CAUSE BUYER TO REFUSE TO PURCHASE THE
PROPERTY;
AND
(D) THE EXISTENCE, LOCATION, SIZE, OR CONDITION OF ANY OUTBUILDINGS OR SHEDS ON
THE PROPERTY.
Mold, mildew, spores and/or other microscopic organisms and/or allergens
(collectively referred to in the Agreement as "Mold") are environmental
conditions that are common