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Buyer has full power and authority to execute, deliver and carry out its obligations under <br />this Contract and all documents executed in connection herewith without the consent of any <br />other person or entity; the execution, delivery, and performance of this Contract and the <br />tansactions contemplated herein shall not breach the provisions of any agreement binding upon <br />Buyer or any governmental order to which Buyer is a party; and the person signing this Contract <br />has full power acrd authority to bind Buyer and to execute and perform this Contract. This <br />Contract is a binding obligation of Buyer, enforceable against Buyer in accordance with its <br />terms. <br />16. Conditions to Seller's Obli atg ions. In addition to the other conditions set forth in <br />this Contract, the obligations and liabilities of Seller shall in all respects be conditioned upon the <br />satisfaction of each of the following conditions prior to or simultaneously with the Closing, any <br />of which may be waived by written notice from Seller to Buyer: <br />a. Buyer shall have delivered to Seller all of the items required to be delivered under <br />this Contract in accordance with the ternis of this Conh'act. <br />b. Buyer shall have complied with and otherwise performed each of the covenants <br />and obligations of Buyer required to be performed prior to the Closing Date in accordance with <br />the terms of set forth in this Contract. <br />c. All representations and waranties of Buyer as set forth in this Contract shall be in <br />all respects true and con~ect as of the Effective Closing Date. <br />d. That Seller has acquired the Property pursuant to the express contingency set forth <br />ur Paragraph 4 above. <br />17. Environmental Matters. <br />a. Representations and Warranties. Without having made any independent <br />investigation of any kind or nature whatsoever, Seller represents that: <br />i. Seller has no actual knowledge of any underground storage tanks being <br />located on the Property; <br />ii. Seller has no actual knowledge of, and no reason to believe: (a) that any <br />industrial use has been made of the Property; (b) that, except for chemicals used in the <br />farming of the Property, the Property has been used for the storage, treatment or disposal <br />of chemicals or any wastes that are classified by federal, state or local laws as hazardous <br />or toxic substances; or (c) that any manufacturing, landfilliug or chemical production <br />occurred on the Property. <br />iii. To Seller's actual knowledge as of the date of this Contract, the Property <br />is in compliance with all federal, state and local environmental laws and regulations, <br />including, the Comprehensive Environmental Response, Compensation and Liability Act <br />of 1980 ("CERCLA"), Public Law No. 96-510, 94 Stat. 2767, 42 U.S.C. 9601, et seq., <br />and the Superfund Amendments and Reauthorization Act of 1986("SARA"), Public Law <br />No. 99-499, 100 Stat. 1613. <br />9 <br />RTP 84406v7 <br />