CODES, ORDINANCES OR REGULATIONS OF GOVERNMENTAL OR
QUASI-GOVERNMENTAL AUTHORITIES, INCLUDING (WITHOUT LIMITATION) THE AMERICANS
WITH DISABILITIES ACT; THE ECONOMIC FEASIBILITY OF OWNERSHIP THEREOF OR
OPERATIONS RELATED THERETO; THE AVAILABILITY OF FINANCING FOR THE PROPERTY; THE
PRESENCE OR ABSENCE OF ANY HAZARDOUS SUBSTANCES, IN, ON, UNDER, AROUND, ABOUT OR
AFFECTING THE PROPERTY, THE COMPLIANCE OF THE PROPERTY AND SELLER WITH ANY LAWS
REGULATING HAZARDOUS SUBSTANCES, INCLUDING PROVISION OF ANY NOTICES REQUIRED BY
LAW, AND ANY OTHER ENVIRONMENTAL MATTERS; THE PRESENCE OR ABSENCE OF ANY RIGHT
TO SUBDIVIDE OR DEVELOP THE PROPERTY; THE SUITABILITY OF THE PROPERTY FOR THE
USES INTENDED BY BUYER; THE ABILITY TO OBTAIN ACCESS TO THE PROPERTY; THE
ADEQUACY OF PARKING; THE AVAILABILITY OF UTILITIES OR OTHER SERVICES TO THE
PROPERTY; OR ANY OTHER MATTERS WHATSOEVER. BY REASON OF THE FOREGOING, WITH THE
EXCEPTION OF ANY CLAIMS ARISING BY REASON OF SELLER'S FAILURE TO PERFORM ANY OF
ITS EXPRESS OBLIGATIONS UNDER THIS AGREEMENT, OR ANY CLAIMS ARISING FROM
SELLER'S BREACH OF ANY OF ITS EXPRESS REPRESENTATIONS AND WARRANTIES UNDER THIS
AGREEMENT, BUYER HEREBY IRREVOCABLY AND EXPRESSLY WAIVES, RELEASES AND
RELINQUISHES ANY AND ALL RIGHT OR ENTITLEMENT WHICH IT WOULD OTHERWISE HAVE TO
ASSERT AGAINST SELLER OR ANY OF ITS PARTNERS, AFFILIATES, AGENTS, ATTORNEYS OR
CONSULTANTS ANY EXPRESS OR IMPLIED WARRANTY RELATING TO THE PROPERTY OR THE
CONDITION, FITNESS OR VALUE THEREOF OR TO ASSERT AGAINST SELLER OR SUCH PERSONS
OR ENTITIES ANY CLAIM WHATSOEVER ARISING OUT OF OR PERTAINING TO THE CONDITION
OF THE PROPERTY OR THE PRESENT OR FUTURE PROFITABILITY OF OWNERSHIP, DEVELOPMENT
OR OPERATION THEREOF.
(b) In addition, Buyer expressly understands and acknowledges that it is
possible that unknown problems, conditions, losses, costs, damages, claims,
liabilities, expenses, demands and obligations of various kinds and natures
("Liabilities") may exist with respect to the Property and that Buyer explicitly
took that possibility into account in determining and agreeing to the Purchase
Price, and Buyer, as a portion of the consideration for the Property, as of the
Closing, waives and releases Seller and its owners and affiliates from any all
obligations, liabilities, claims or causes of action theretofore accrued or
thereafter arising with respect to any and all such Liabilities.
WITH RESPECT TO THE RELEASES AND WAIVERS SET FORTH ABOVE, BUYER EXPRESSLY WAIVES
THE BENEFITS OF SECTION 1542 OF THE CALIFORNIA CIVIL CODE, WHICH PROVIDES AS
FOLLOWS:
"A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR
SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH
IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH
THE DEBTOR."
BUYER HAS BEEN ADVISED BY ITS LEGAL COUNSEL AND UNDERSTANDS THE SIGNIFICANCE OF
THIS WAIVER OF SECTION 1542 RELATING TO UNKNOWN, UNSUSPECTED AND CONCEALED
CLAIMS. BY ITS INITIALS BELOW, BUYER ACKNOWLEDGES THAT IT FULLY UNDERSTANDS,
APPRECIATES AND ACCEPTS ALL OF THE TERMS OF THIS PARAGRAPH 14.
Buyer's Initials /s/ RH___
15)
RISK OF LOSS: Risk of loss to the Property shall be borne by