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Section 7. Leases (Check one of the following, as applicable)t
<br />(~ If this box is checked, Seller affirmatively represents and warrants that there are no Leases (as hereinafter defined) affecting
<br />the Property. .
<br />J'" If this box is checked, Seller discloses that there are one or more leases affecting the Property (oral or written, recorded or not
<br />"Leases") and the following provisions art: hereby made a part of this Agreement.
<br />(a) All Leases shall be itemized on Exhibit B;
<br />(b) Seller shall deliver copies of any Leases to Buyer pursuant to Section 4 as if the Leases were listed therein;
<br />(c} Seller represents and warrants that as of the Gontract Dato there are no current defaults (or any cacisting situation which, with
<br />the passage of time, or the giving of notice, or both, or ai the election of either landlord-or tenant scald constitute a default) either by
<br />Seiler, as landlord, or by any tenant under any Lease ("Lease Default"). In the event there is any Lease Defauh as of the Contract Date,
<br />Seller agrees to provide Buyer with a detailed description of the situation in accordance with Section 4. Seller agrees not to commit a
<br />Lease Default as Landlord after the Contract Date, and agrees further to notify Buyer immediately in the event a lease Default arises or
<br />is claimed, asserted or threatcmd to be asserted by either Seller or a tetnttt under the Lease.
<br />(d) In addition to the conditions provided in Section 6 of ffiia Agreement, this Agreement and the rights and obligations of the
<br />parties under-this A~eement are hereby made expressly conditioned upon the assignment of Seller's Interest in any•Lease to Buyer in
<br />form and content acceptable to Buyer (with tcnanPs written consent- and acknowledgement, if required under the Lease), and Setter
<br />agrees to use its best efforts to effect such assignmenk Any assignment required under this Section 7 shall be required to be delivered at
<br />Closing by Seller in addition to those dellverics required under Section 1 I of this Agreement.
<br />(e) Seller agrees to deliver an assignment of any Lease at Glosing, with any sxurity deposits held by Seller under a~ Leases to be
<br />transferred or credited to Buyer at Cbsing. Seller also agrees to execute and deliver (and work diligently to obtain any tenant signatures
<br />necessaryfor same) any estoppel Certificates and subordination, nondisturbance and attomment agreements in such form as Buyer may
<br />reasonably request.
<br />Section 8. Environmental: Seller represents and wanents that it has no actual knowledge of the presence or disposal, except as in
<br />accordance with applicable law, within the buiidin~s of on the Property of Hazardous or toxic waste or substances, which are defined as
<br />those substances, materials, and wastes, including, but ;not limited to, those substances, materials and wastes listed in the United States
<br />Department of Transportation Hazardous Materials Tablt (49 CFR Part !72.101) or by the Environmental Protetxfon Agency as
<br />hazardous substances (40 CFR Part 302.4) and amendtrtents thereto, or such- substances, materials and wastes, which are or become
<br />regulated under any applicable local, state or federal law, including, without limitation, any material, waste or substance which Is (I)
<br />petroleum, (li) asbestos, (h'i) polychlorinated biphenyls, (iv) designated as a Hazardous Salistance pursuant to Section 311 of the Clean
<br />Water Act of 1977 (33 U.S.C. §1321) or listed pursuant to Section 307of the Clean :Pater Ad of 1977 (33 U.S.C. § 1317), (v), defined
<br />as a hazardoas'waste pursuant to Section 1004 of the Resource •Conscrvation and Recovsry Act of 197b (42 US.C. §6903) or {vi)
<br />defined-as a hazardous substance pursuant to Section t 01, of the Comprehensive Environmental Response, Compensation and Liability
<br />Act of 1980 (~12 U.S.C. §9b01). Seller has no actual knowledge of any contamination of the Property from such substances as may have
<br />been disposed of or stored on neighboring tracts.
<br />Section 9. Risk of Loss/Damage/Repair: Until Closing, the risk of loss or damage to the Property, except as otherwise provided
<br />herein, shalt be borne by Seiler. Except as to maintaining the Property in its same condition, Seger shall have no responsibility for tlu
<br />repair of the Property, including any improvements, unless the parties hereto agree in writing.
<br />Section 10. Earnest Money 1)isbarsement: In the event that any bf the conditions hereto are not satisfied, or in the event of a breach
<br />of this Agreement by Seller, then the Eafnest Money shall be returned to Boyer, but such return shall not affect any other remedies
<br />available to Buyer for such breach. In the event this offer is accepted and Buyer breaches this Agreement, then the Earnest Money shall
<br />be forfeited, but such forfeiture shall not affect any other remedies available to Seller for such breach. NOTE: In the event of a dispute
<br />between Seller and Buyer over the return or forfeiture of Earnest Money held in escrow by a licensed real estate broker, the broker is
<br />required by state law to retain said Earnest Money in its trust or escrow account until it has obtained a written release from the-parties
<br />consenting to its disposition or unfit disbursement is ordered by a court of competent jurisdiction, or ahematively, the party holding the
<br />Earnest Money may deposit the disputed monies with the appropriate clerk of court in accordance with the provisions of N,C,G.S.
<br />§93A-12.
<br />Section il. Closing: At Closing, Seller shall deliver to;Buyer a general warranty deed unless otherwise specified on Exhibit B and
<br />other documents customarily executed or delivered by a seller in similar transactions, including without limitation, a bill of sale for any
<br />personalty listed on Exhibit A, an owner's affidavit; ;1'icai waiver forms and anon-foreign status. afFidavit (pursuant to the Foreign
<br />Investment in Real Property Tax Act}, and Buyer shall ~y to Seller the Purchase Price. At Closing, the Earnest Money shall be applied
<br />as part of the Purchase Price. The Closing shall be held at the offce of Buye>'s attorney or such other place as the parties hereto may
<br />mutually agree. Possession shall be delivers! at Closing, unless otherwise agreed herein.
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<br />Buyer iniGat$~~~ Setter ioitiats STAIVT?ARD FORM 580-T
<br />rRep,tReu eS, n,.t}e rao.s+ro»xnaro ~:sonar. Revised 7!2008
<br />RnlrutLu. p2are, R'at a120o. ,h RepitletW m: OrrmM a c«~~ar-ee.Pa NU +D 7/20tt9
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