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(ii) To the best of Seller's knowledge, the Property is in compliance <br />with all federal, State and local environmental laws and regulations, including, but not limited to, <br />the Comprehensive Environmental Response, Compensation and Liability Act of 1980 <br />("CERCLA"), Public Law No. 96-510, 94 Stat. 2767, 42 USC 9601 et seq., and the Superfund <br />Amendments and Reauthorization Act of 1986 ("SARA"), Public Law No. 99-499, 100 Stat. <br />1613. <br />(iii) Seller has fully disclosed to Buyer that, except for chemicals used <br />in the farming of the Property, Seller has no knowledge of the existence, extent ,and nature of any <br />hazardous materials, substances, wastes or other environmentally regulated substances (including <br />without limitation, any materials containing asbestos), in or under the Property or use in <br />connection therewith. <br />(3) Seller shall indemnify and hold Buyer harmless from and against (i) any <br />and all damages, penalties, fines, claims, liens, suits, liabilities, costs (including clean-up costs), <br />judgments and expenses (including attorneys', consultants' or experts' fees and expenses) of <br />every kind and nature suffered by or asserted against Buyer as a direct or indirect result of any <br />warranty or representation made by Seller in subsection (e) herein being false or untrue in any <br />material respect, or (ii) any requirement under any law, regulation or ordinance, local, State or <br />federal, which requires the elimination or removal of any hazardous materials, substances, <br />wastes or other environmentally regulated substances existing or placed on the Property at any <br />time up to and including the Closing Date. <br />(4) Should the Phase I disclose the existence on the Property of any hazardous <br />materials, substances, wastes or other environmentally regulated substances (including without <br />limitation, any materials containing asbestos), a condition precedent to Buyer's obligation to <br />close on the sale of the Property is that the following be done at Seller's expense: (1) any such <br />5 <br />