PARTICULAR PURPOSE, THAT PURCHASER MAY BE ENTITLED TO UNDER
LOUISIANA CIVIL CODE ARTICLES 2475, 2500 ET SEQ. AND 2520 ET SEQ., AND PURCHASER
HEREBY RELEASES SELLER FROM ANY AND ALL LIABILITY WHATSOEVER IN CONNECTION
THEREWITH. PURCHASER HEREBY FURTHER WAIVES AND RENOUNCES ANY AND ALL RIGHTS
PURCHASER MAY HAVE UNDER LOUISIANA CIVIL CODE ARTICLES 2500 ET SEQ. AND 2520 ET
SEQ. INCLUDING, WITHOUT LIMITATION, ANY RIGHT TO RESCIND THE ACT OF SALE, BILL
OF SALE OR VEHICLE SALE OR REDUCE THE PURCHASE PRICE.
10.4. PURCHASER HEREBY RELEASES SELLER FROM ANY CLAIMS, DEMANDS, LIABILITIES,
COSTS OR SUITS UNDER OR PURSUANT TO 42 U.S.C. § 9601, ET SEQ., 42 U.S.C. § 7401,
ET SEQ., 42 U.S.C. § 6901, ET SEQ., 33 U.S.C. §1251, ET SEQ., 15 U.S.C. §2601 ET
SEQ. AND LA. R.S. 30:2001, ET SEQ., TOGETHER WITH ANY AND ALL CLAIMS, DEMANDS,
SUITS OR LITIGATION UNDER ANY OTHER APPLICABLE LAWS, STATUTES, RULES OR
REGULATIONS AS THE SAME MAY FROM TIME TO TIME BE AMENDED, RELATING TO ANY
CONTAMINATION ON, IN OR UNDER THE PROPERTY, AND ALL OTHER ENVIRONMENTAL OR
HAZARDOUS SUBSTANCE LIABILITIES OF ANY KIND AND NATURE, WHATSOEVER, INCLUDING,
WITHOUT LIMITATION. (A) ALL FORESEEABLE AND UNFORESEEABLE DAMAGES OF ANY KIND OR
NATURE AND (B) THE COSTS OF ANY REQUIRED OR NECESSARY INVESTIGATION, STUDY,
REPAIR, CLEAN-UP AND/OR DETOXIFICATION UNDER ANY LAW, STATUTE, RULE, REGULATION,
ORDINANCE OR DECREE.
10
10.5. PURCHASER HEREBY ACKNOWLEDGES THAT: (I) THE FOREGOING WAIVERS AND RELEASES
HAVE BEEN BROUGHT TO THE ATTENTION OF PURCHASER, (II) THE FOREGOING WAIVERS AND
RELEASES HAVE BEEN READ AND ARE UNDERSTOOD BY PURCHASER, (III) THE TERMS AND
CONDITIONS OF THESE WAIVERS AND RELEASES ARE AN INTEGRAL PART OF THE ACT OF SALE
WITHOUT WHICH IT WOULD NOT HAVE BEEN MADE BY SELLER, AND (IV) THE ACT OF SALE,
BILL OF SALE OR VEHICLE SALE TAKE INTO CONSIDERATION THE FOREGOING WAIVERS AND
RELEASES. PURCHASER EVIDENCES ITS ACKNOWLEDGEMENT BY INITIALING BELOW.
PURCHASER'S INITIALS [Initials Illegible]
11. CONDITIONS PRECEDENT.
11.1. Each of the matters set forth in this Section 11.1 is a condition
precedent to Purchaser's obligation to proceed to Closing (individually, a
"Purchaser's Condition Precedent" and collectively, the "Purchaser's Conditions
Precedent"), and if any of the Purchaser's Conditions Precedent have not been
satisfied prior to the Closing Date, Purchaser may: (i) waive the condition and
proceed to Closing or (ii) terminate this Agreement. If Purchaser terminates
this Agreement pursuant to this Section 11.1, Purchaser shall be entitled to the
return of the entire amount of the Deposit. The failure to occur of any
Purchaser's Conditions Precedent shall not constitute a default by Seller
hereunder, unless the failure is a result of Seller's fault, breach of any
covenant, representation, warranty or obligation of Seller set forth in this
Agreement, in which event Purchaser also shall be entitled to pursue any
remedies available to it under Section 18.1 of this Agreement.
11.1.1. Change in Condition. Without the prior written consent of Purchaser, in
its reasonable discretion, no material, adverse change in the physical condition
of the Property from