in the aggregate $15,000.
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(b) Discharge of Title Objections. If on the Closing Date there are any Title
Objections which Seller has elected to pay and discharge, Seller may use any
portion of the Balance to satisfy the same, provided Seller shall deliver to
Buyer at the Closing instruments in recordable form and sufficient to satisfy
such Title Objections of record, together with the cost of recording or filing
such instruments, or provided that Seller shall cause the Title Company to
insure over the same, without any additional cost to Buyer, whether such
insurance is made available in consideration of payment, bonding, indemnity of
Seller or otherwise.
ARTICLE 4 -CONDITION OF THE PROPERTY
4.1 [Intentionally Left Blank]
4.2 Property Sold "As Is".
(a)
BUYER ACKNOWLEDGES AND AGREES THAT (i) THE PROPERTY SHALL BE SOLD, AND BUYER
SHALL ACCEPT POSSESSION OF THE PROPERTY ON THE CLOSING DATE, "AS IS, WHERE IS,
WITH ALL FAULTS", WITH NO RIGHT OF SETOFF OR REDUCTION IN THE PURCHASE PRICE;
(ii) EXCEPT FOR SELLER'S REPRESENTATIONS AND WARRANTIES SET FORTH IN SECTION 8.2
AND THE LIMITED WARRANTY OF TITLE TO BE GIVEN IN THE DEED (AS DEFINED IN SECTION
6.3(a)) (HEREIN COLLECTIVELY CALLED THE "SELLER'S WARRANTIES"), NONE OF SELLER,
ITS COUNSEL, JTJ WEISS LLC, STONE REAL ESTATE CORP. AND TEN REALTY
(COLLECTIVELY, THE "BROKERS"), ITS SALES AGENTS, NOR ANY PARTNER, OFFICER,
DIRECTOR, EMPLOYEE, AGENT OR ATTORNEY OF SELLER, ITS COUNSEL, BROKER, OR ITS
SALES AGENTS, NOR ANY OTHER PARTY RELATED IN ANY WAY TO ANY OF THE FOREGOING
(ALL OF WHICH PARTIES ARE HEREIN COLLECTIVELY CALL "SELLER PARTIES") HAVE OR
SHALL BE DEEMED TO HAVE MADE ANY VERBAL OR WRITTEN REPRESENTATIONS, WARRANTIES,
PROMISES OR GUARANTEES (WHETHER EXPRESS, IMPLIED, OR OTHERWISE) TO BUYER WITH
RESPECT TO THE PROPERTY. EXCEPT FOR THE WARRANTIES AS SET FORTH IN SECTION 8.2,
BUYER IS NOT RELYING ON (AND SELLER AND EACH OF THE OTHER SELLER PARTIES DOES
HEREBY DISCLAIM AND RENOUNCE) ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND OR
NATURE WHATSOEVER, WHETHER ORAL OR WRITTEN, EXPRESS OR IMPLIED FROM SELLER OR
ANY OTHER SELLER PARTIES, AS TO: (i), USES, OR MERCHANTABILITY OR FITNESS OF ANY
PORTION OF THE PROPERTY FOR A PARTICULAR PURPOSE; (2) THE PHYSICAL CONDITION OF
THE PROPERTY OR ANY IMPROVEMENTS THEREON, INCLUDING, BUT NOT LIMITED TO,
PLUMBING, SEWER, HEATING AND ELECTRICAL SYSTEMS, ROOFING, AIR CONDITIONING
FOUNDATIONS, SOILS AND GEOLOGY, LOT SIZE OR SUITABILITY OF THE REAL PROPERTY OR
ANY IMPROVEMENTS THEREON FOR A
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PARTICULAR PURPOSE; (3) WHETHER THE APPLIANCES, IF ANY, PLUMBING OR UTILITIES
ARE IN WORKING ORDER; (4) THE HABITABILITY OR SUITABILITY FOR OCCUPANCY OF ANY
STRUCTURE AND THE QUALITY OF ITS CONSTRUCTION; (5) WHETHER THE IMPROVEMENTS ARE
STRUCTURALLY SOUND, IN GOOD CONDITION, OR IN COMPLIANCE WITH APPLICABLE
MUNICIPAL, COUNTY, STATE OR FEDERAL STATUTES, CODES OR ORDINANCES; (6) THE
DIMENSIONS OF THE REAL PROPERTY OR THE ACCURACY OF ANY FLOOR PLANS, SQUARE
FOOTAGE, LEASE ABSTRACTS, SKETCHES; (7) THE ABILITY OF PURCHASER TO OBTAIN ANY
AND ALL NECESSARY GOVERNMENTAL APPROVALS OR PERMITS FOR BUYER'S INTENDED