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matters now unknown to the Owner may have given or may hereafter give rise to causes of action,
<br />claims, demands, debts, controversies, damages, costs, losses and expenses which are presently
<br />unknown, unanticipated and unsuspected, and the Owner further agrees, represents and warrants
<br />that the waivers and releases herein have been negotiated and agreed upon in light of that
<br />realization and that the Owner nevertheless hereby intends to release, discharge and acquit the City
<br />from any such unknown causes of action, claims, demands, debts, controversies, damages, costs,
<br />losses and expenses. Accordingly, the Owner, on behalf of itself and anyone claiming by, through
<br />or under the Owner, hereby assumes the above-mentioned risks and hereby expressly waives any
<br />right the Owner and anyone claiming by, through or under the Owner, may have under Section
<br />1542 of the California Civil Code, which reads as follows:
<br />"A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE
<br />CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO
<br />EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE
<br />AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY
<br />AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED
<br />PARTY."
<br />Owner's Initials: Signed in Counterpart
<br />(d) Expenses. All expenses, fees or costs (including, but not limited to City's
<br />attorneys' fees, and the cost of the City's consultants) incurred in connection with the close of
<br />escrow for the purchase and sale of the Property pursuant to this Agreement shall be solely borne,
<br />and paid, by the Owner.
<br />(e) Proration of Taxes. Property taxes, and other assessments if any, on the
<br />Property shall be prorated as of the date of the recordation of the Grant Deed in the Official
<br />Records.
<br />(f) As -Is. The City shall acquire the Property in its current, "as -is" condition,
<br />subject to Section 6(g) below.
<br />6. Representations and Warranties of Owner. The Owner hereby represents and
<br />warrants to, and for the benefit of, the City each of the following as of the Effective Date, and as
<br />of the date of the recordation of the Grant Deed:
<br />(a) Good Standing. The Owner is a duly organized limited partnership, validly
<br />existing and in good standing under the laws of the State of California, and has the power and
<br />authority to own its property and carry on its business as now being conducted.
<br />(b) Corporate Authority. The Owner has full power and authority to execute
<br />and deliver this Agreement and to grant the Option contemplated hereunder, to execute and deliver
<br />all other documents or instruments executed and delivered, or to be executed and delivered,
<br />pursuant to this Agreement, and to perform and observe the terms and provisions of all of the
<br />above.
<br />(c) Authority of Persons Executing Documents. This Agreement and all other
<br />documents or instruments executed and delivered, or to be executed and delivered, pursuant to this
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