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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 /> material or substance located on the Property be removed, (2) other found contaminants be <br /> removed from the Property, (3)that a copy of a certificate demonstrating removal and clean-up <br /> be provided to Orange County, c/o Jeffrey Thompson, Director of Assets Management Services, <br /> P.O. Box 8181, Hillsborough,North Carolina 27278, as soon as the certificate is available and <br /> (4) that the original of the certificate be provided to Buyer at the closing. <br /> (5) Seller's obligations under this Section shall survive the closing and <br /> continue in full effect notwithstanding receipt of the purchase price. <br /> (h) Representations/Warranties. All representations and warranties contained in this <br /> Agreement are true and correct as of the date of execution of this Agreement and will be true as <br /> of the Closing Date and shall survive closing and execution and delivery of the Deed and shall <br /> not be merged therein. <br /> 5 <br />