EXPENSES OR OPERATION OF
THE PROPERTY. EXCEPTING ONLY THOSE REPRESENTATIONS SPECIFICALLY SET FORTH IN
THIS AGREEMENT AND/OR THE CLOSING DOCUMENTS, BUYER ACKNOWLEDGES THAT BUYER HAS
NOT RELIED ON ANY REPRESENTATIONS, WARRANTIES OR OTHER STATEMENTS WHETHER ORAL
OR WRITTEN IN BUYER'S DECISION TO ACQUIRE THE PROPERTY IN ACCORDANCE WITH THE
TERMS HEREOF. BUYER ALSO ACKNOWLEDGES THAT BUYER HAS NOT AND AGREES THAT IT WILL
NOT IN THE FUTURE RELY ON ANY "BROKER SET-UPS" OR ANY OTHER COMMUNICATIONS FROM
ANY REAL ESTATE BROKER, MANAGING AGENT OR SIMILAR PARTY.
(b) IN PARTICULAR, EXCEPT AS HEREIN SPECIFICALLY SET FORTH AND/OR THE CLOSING
DOCUMENTS, SELLER HAS NOT MADE (AND IS UNWILLING TO MAKE) ANY DISCLOSURES,
REPRESENTATIONS OR WARRANTIES IN RESPECT OF (I) THE PHYSICAL CONDITION OF THE
PROPERTY (INCLUDING, WITHOUT LIMITATION, IN RESPECT OF THE PRESENCE,
NON-PRESENCE OR CONDITION OF HAZARDOUS MATERIALS (HEREAFTER DEFINED), (II) THE
COMPLIANCE OR NON-COMPLIANCE OF THE PROPERTY WITH ANY PLANS OR SPECIFICATIONS OR
WITH APPLICABLE LAWS (INCLUDING, WITHOUT LIMITATION, THOSE RELATING TO THE
PROTECTION OF THE ENVIRONMENT OR THE HEALTH, SAFETY, ACCESSIBILITY OR WELFARE OF
EMPLOYEES, WORKERS OR GUESTS TO THE PROPERTY (INCLUDING BUT NOT LIMITED TO THE
OCCUPATIONAL SAFETY AND HEALTH ACT, AS AMENDED, AND THE AMERICAN WITH
DISABILITIES ACT, AS AMENDED)), (III) THE REVENUES, INCOME OR EXPENSES OF THE
PROPERTY, (IV) THE ADEQUACY OR INADEQUACY OF THE UTILITIES, IF ANY, PROVIDED TO
THE PROPERTY, (V) THE ZONING OF THE PROPERTY OR (VI) ANY OTHER MATTER WHATSOEVER
AND WHETHER OR NOT CONCERNING THE PROPERTY. BUYER ACKNOWLEDGES THE FOREGOING AND
WARRANTS AND REPRESENTS THAT TO BUYER'S KNOWLEDGE, THIS AGREEMENT PROVIDES FOR
SUFFICIENT TIME AND OPPORTUNITY FOR BUYER TO INSPECT THE PROPERTY AND OTHER
MATTERS DEEMED IMPORTANT TO BUYER REGARDING THE PROPERTY, THAT BUYER (OR ITS
PRINCIPAL OFFICER IF BUYER SHALL BE AN ENTITY) IS EXPERIENCED IN OWNING REAL
PROPERTY SIMILAR TO THE PROPERTY AND THAT BUYER IS REPRESENTED BY ADVISORS AND
COUNSEL OF BUYER'S CHOOSING.
(c) For purposes hereof, "Hazardous Materials" shall mean and refer to
explosives, radioactive materials, asbestos, asbestos-containing materials,
polychlorinated biphenyls, lead, lead-based paint, radon, under and/or above
ground storage tanks, hazardous materials, toxic substances, hazardous wastes,
hazardous substances, mold, petroleum, petroleum based materials or any other
materials or substances which are listed or regulated in the Comprehensive
Environmental Response, Compensation and Liability Act of 1980, as amended (42
U.S.C. Sections 6901, et seq.), the Resources Conservation and Recovery Act of
1976 (42 U.S.C. Section 6901, et seq.), the Clean Water Act (33 U.S.C. Section
1251, et seq.), the Safe Drinking Water Act (14 U.S.C. Section 1401, et seq.),
the Hazardous Materials Transportation Act (49 U.S.C. Section 1801, et seq.),
the Toxic Substance Control Act (15 U.S.C. Section 2601, et seq.), or any other
applicable federal, state or local laws.
(d) By not terminating this Agreement at the expiration of the Inspection Period
and proceeding to Closing, without further documentation, Buyer, on behalf if
itself and all of its officers, directors, members, managers, trustees,
beneficiaries, shareholders, employees, representatives, successors and assigns,
and their affiliates (collectively,