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<br />iv. Except for chemicals used in the fanning of the Property, Seller has no
<br />actual knowledge of the existence, extent or nature of any hazardous materials,
<br />substances, wastes or other environmentally regulated substances (including any
<br />materials containing asbestos), in or under the Property.
<br />b, Inspection and Remedies. Prior to the expiration of the Buyer's Inspection Period
<br />as defined above, Buyer may obtain from a reputable company, at Buyer's sole expense, a
<br />written report evaluating whether the Property is free from contamination and /or evidence of
<br />contamination from hazardous wastes, hazardous substances, hazardous materials, toxic
<br />substances, hazardous air pollutants or toxic pollutants as those terms are used in the Resource
<br />Conservation and Recovery Act, the Comprehensive Environmental Response, Compensation
<br />and Liability Act, the Hazardous materials Transportation Act, the Toxic Substances Control
<br />Act, the Clean Air Act and the Clean Water Act, or in any amendments thereto, or in any
<br />regulations promulgated pursuant thereto, or in any applicable state or local law, regulation or
<br />ordinance.
<br />If such report discloses any matters adverse to the interests of the Buyer, Buyer shall
<br />notify Seller, in writing prior, to the expiration of Buyer's Inspection Period. After such
<br />notification, but prior to the expiration of Buyer's Inspection Period, Buyer shall elect in writing
<br />to either: (i) close on the Property or (ii) terminate this Contract and all rights of the parties
<br />hereunder.
<br />c. Seller shall indemnify and hold Buyer harmless from and against (i) any and all
<br />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 />requirement under any law, regulation or ordinance, local, State or federal, which requires the
<br />elimination or removal of any hazardous materials, substances, wastes or other environmentally
<br />regulated substances placed on the Property at any time after the Closing Date by Seller or
<br />Seller's agents related to the development by Seller of the Waterstone Master Plan or any part
<br />thereof. Seller's obligations under this Section shall survive the Closing and continue in full
<br />effect notwithstanding receipt of the purchase price.
<br />18, Closing Documents,
<br />a, At Closing, the Seller shall deliver to Buyer the following
<br />i, a duly executed and acknowledged Deed in recordable form conveying
<br />fee simple and marketable title to the Property free and clear of all liens and
<br />encumbrances, except as provided elsewhere in this Contract;
<br />ii. a duly executed lien affidavit warranting and holding Buyer and the Title
<br />Company harmless against unpaid laborers' and materialmen's liens;
<br />iii, a certificate given under penalty of perjury and on a form approved under
<br />regulations promulgated under Section 1445 of the Internal Revenue Code of 1986, as
<br />amended, that Seller is not a foreign person;
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<br />RTP 84406v7
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