|
1.4 Closing Date. It is contemplated that this sale will cTbse on May 6, 2022
<br />2022, or such other date that Buyer and Seller may agree upon in writing (the "Closing Date').
<br />2. BUYER'S INSPECTIONS; AS IS PURCHASE
<br />2.1 Buver's Review of Title. Prior to the execution of this Agreement, Buyer has
<br />reviewed title reports, commitments and pro formas as it deems necessary or appropriate, and
<br />Buyer has arranged for Old Republic Title Company and Fidelity National Title Company, as co-
<br />insurers (collectively, the "Title Company") to issue to Buyer an Owner's Policy of Title
<br />Insurance (the "Title Policy") issued by the Title Company showing the condition of title to the
<br />Property, accompanied by copies of the documents referred to therein (the "Preliminary Title
<br />Report'). By execution of this Agreement, Buyer hereby approves the condition of title.
<br />2.2 Buyer's Review of the Propertv; Agreements. Prior to the execution of this
<br />Agreement, Buyer has prepared, obtained, reviewed (or chosen not to have prepared, obtained or
<br />reviewed) and approved, among other things, all reports of investigations of the Property,
<br />including such soil, geological, engineering and environmental tests and reports, and other
<br />inspections of the Property as Buyer deems necessary in order to determine whether the Property
<br />is suitable for Buyer's intended use, as well as investigated (or chosen not to have investigated)
<br />all zoning requirements, federal, state and local laws, ordinances, rules, regulations, permits,
<br />licenses, approvals and orders applicable to the Property. By execution of this Agreement,
<br />Buyer hereby approves the foregoing items and the condition of the Property.
<br />2.3 As Is. Prior to the execution of this Agreement, Buyer has conducted any and all
<br />inspections of the Property. that it deems necessary to determine whether the Property is suitable
<br />for Buyer's use, and upon Closing, Buyer shall be fully aware (or shall have elected not to
<br />conduct the necessary investigations to become fully aware) of the structural, mechanical,
<br />environmental, soils, engineering and all other conditions of the Property, as well as all zoning
<br />requirements, federal, state and local laws, ordinances, rules, regulations, permits, licenses,
<br />approvals and orders applicable to the Property. In connection therewith, Buyer agrees as
<br />follows:
<br />(a) There are no representations or warranties of any kind whatsoever,
<br />express or implied, made by Seller in connection with this Agreement, the purchase of the
<br />Property by Buyer, the suitability of the Property for Buyer's intended use, the physical
<br />condition of the Property, the potential financial performance of the Property, zoning regulations,
<br />other governmental requirements, the ability of Buyer to obtain permits or entitlements for any
<br />proposed use or redevelopment of the Property, the existence or nonexistence of hazardous
<br />materials on the Property, the condition of title to the Property, geologic or soils conditions,
<br />location of property lines, size/square footage of the Property and improvements, water/utility
<br />use restrictions, or whether the Property complies with applicable laws or otherwise is
<br />appropriate for Buyer's intended use;
<br />(b) Buyer is not relying on any statement or representation of Seller,
<br />its employees, elected officials, consultants, agents or its representatives nor on any information
<br />supplied by Seller, its employees, elected officials, consultants, agents or its representatives;
<br />aa.RmQ�mz�rr�ya
<br />ATTY/AGR.2022.085/Elco Yards (Page 2 of 14)
<br />
|