INSPECTED AND EXAMINED THE PROPERTY TO THE EXTENT DEEMED NECESSARY BY
PURCHASER IN ORDER TO ENABLE PURCHASER TO EVALUATE THE CONDITION OF THE PROPERTY
AND ALL OTHER ASPECTS OF THE PROPERTY (INCLUDING, BUT NOT LIMITED TO, THE
ENVIRONMENTAL CONDITION OF THE PROPERTY); AND PURCHASER ACKNOWLEDGES THAT
PURCHASER IS RELYING SOLELY UPON ITS OWN (OR ITS REPRESENTATIVES') INSPECTION,
EXAMINATION AND EVALUATION OF THE PROPERTY, EXCEPT FOR THE EXPRESS
REPRESENTATIONS. EXCEPT FOR THE EXPRESS REPRESENTATIONS, PURCHASER HEREBY
EXPRESSLY ASSUMES ALL RISKS, LIABILITIES, CLAIMS, DAMAGES AND COSTS (AND AGREES
THAT SELLER SHALL NOT BE LIABLE FOR ANY SPECIAL, DIRECT, INDIRECT, CONSEQUENTIAL
OR OTHER DAMAGES) RESULTING OR ARISING FROM OR RELATED TO THE OWNERSHIP, USE,
CONDITION, LOCATION, MAINTENANCE, REPAIR OR OPERATION OF THE PROPERTY ARISING OR
ACCRUING FROM AND AFTER THE DATE OF CLOSING. PURCHASER EXPRESSLY WAIVES (TO THE
EXTENT ALLOWED BY APPLICABLE LAW)
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ANY CLAIMS UNDER FEDERAL, STATE OR OTHER LAW THAT PURCHASER MIGHT OTHERWISE HAVE
AGAINST SELLER RELATING TO THE USE, CHARACTERISTICS OR CONDITION OF THE PROPERTY
EXCEPT AS OTHERWISE EXPRESSLY PROVIDED BY THIS AGREEMENT. ANY REPAIRS PAID FOR
BY SELLER PURSUANT TO THIS AGREEMENT, IF ANY, SHALL BE DONE WITHOUT ANY WARRANTY
OR REPRESENTATION BY SELLER, AND SELLER HEREBY EXPRESSLY DISCLAIMS ANY WARRANTY
OR REPRESENTATION OF ANY KIND IN CONNECTION WITH SUCH REPAIRS.
(c)
Environmental Status. Without limiting the foregoing, Purchaser
acknowledges that it has had or will have an opportunity to become familiar with
the environmental status of the Real Property and that Purchaser shall make its
own evaluation of and business decision regarding the foregoing, without any
representation or warranty by Seller or any of its Affiliates. Notwithstanding
any indemnification obligation of Seller under this Agreement, Purchaser does
hereby forever release and discharge the Seller Indemnitees from any and all
Environmental Claims and Environmental Liabilities, whether now known or unknown
to Purchaser; provided, however, that such release and discharge shall not apply
to any indemnification obligation of Seller under this Agreement, to the extent
resulting from a breach of Seller's representation or warranty set forth in
Section 5.1(f).
(d)
Purchaser's Sole Remedy Regarding Disclosures. Seller and Purchaser
acknowledge and agree that disclosures and information regarding the condition
and other aspects of the Property may properly be provided after the Effective
Date and that Seller, by way of additional or supplemental disclosures, may in
good faith undertake to correct, modify, or supplement prior disclosures,
information or representations at any time before close of escrow. PURCHASER
AGREES THAT, PRIOR TO THE CLOSING, IF IT DISAPPROVES OR IS DISSATISFIED WITH ANY
CONDITIONS SO DISCLOSED BY SELLER OR SELLER'S AGENT(S) AFTER THE DUE DILIGENCE
PERIOD, PURCHASER'S SOLE REMEDY AS TO SUCH CONDITIONS SHALL BE TO SEEK THE
TERMINATION OF THIS AGREEMENT AND TO OBTAIN A REFUND OF THE EARNEST MONEY.
PURCHASER ACKNOWLEDGES THAT SELLER'S AGREEMENT TO SELL THE PROPERTY IS MADE IN
RELIANCE UPON PURCHASER'S ELECTION AND REPRESENTATION THAT PURCHASER WILL PURSUE
NO OTHER CLAIM, ACTION, OR REMEDY (E.G., A LAWSUIT FOR MISREPRESENTATION OR
FAILURE TO DISCLOSE) AGAINST SELLER OR SELLER'S