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and assigns, and their respective heirs and personal representatives (collectively, the "Owner
<br /> Related Parties "), from any and all demands, claims, legal or administrative proceedings, losses,
<br /> liabilities, damages, penalties, fines, liens, judgments, costs or expenses whatsoever (including,
<br /> without limitation, attorneys' fees and costs), whether direct or indirect, known or unknown,
<br /> foreseen or unforeseen, that may arise on account of or in any way be connected with (i) the
<br /> physical condition of the Property including, without limitation, all structural and seismic
<br /> elements, all mechanical, electrical, plumbing, sewage, heating, ventilating, air conditioning and
<br /> other systems, the environmental condition of the Property and Hazardous Materials on, under or
<br /> about the Property or on, under or about nearby properties, (ii) the quality, nature, adequacy, and
<br /> physical condition of soils, geology and any groundwater of the Property and nearby properties,
<br /> (iii) claims of any occupants of the Property against Owner or any Owner Related Party, (iv) the
<br /> existence, quality, nature, adequacy and physical condition of utilities serving the Property, (v)
<br /> the development potential of the Property, and the Property's use, habitability, merchantability,
<br /> or fitness, suitability, value or adequacy of the Property for any particular purpose, (vi) the
<br /> zoning or other legal status of the Property or any other public or private restrictions on use of the
<br /> Property, (vii) the compliance of the Property or its operation with any applicable codes, laws,
<br /> regulations, statutes, ordinances, covenants, conditions and restrictions of any governmental or
<br /> quasi - governmental entity or of any other person or entity, (viii) the presence of Hazardous
<br /> Materials on, under or about the Property or the adjoining or neighboring property, (ix) the
<br /> quality of any labor and materials used in any improvements on the Property, (x) the condition of
<br /> title to the Property, (xi) economics of the operation of the Property and (xii) any law or
<br /> regulation applicable to the use or operation of the Property, including, without limitation, the
<br /> Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended
<br /> (42 U.S.C. Sections 6901, et seq.), the Resources Conservation and Recovery Act of 1976 (42
<br /> U.S.C. Section 6901, et seq.), the Clean Water Act (33 U.S.C. Section 1251, et seq.), the Safe
<br /> Drinking Water Act (14 U.S.C. Section 1401, et seq.), the Hazardous Materials Transportation
<br /> Act (49 U.S.C. Section 1801, et seq.), and the Toxic Substance Control Act (15 U.S.C. Section
<br /> 2601, et seq.), the California Hazardous Waste Control Law (California Health and Safety Code
<br /> Section 25100, et seq.), the Porter- Cologne Water Quality Control Act (California Water Code
<br /> Section 13000, et seq.), and the Safe Drinking Water and Toxic Enforcement Act of 1986
<br /> (California Health and Safety Code Section 25249.5, et seq.) and any other federal, state or local
<br /> law.
<br /> In connection with the matters referred to above in this Paragraph 13(d),
<br /> Optionee on behalf of itself and its agents, successors and assigns, expressly waives all rights
<br /> under Section 1542 of the Civil Code of the State of California ( "Section 1542 "), or any other
<br /> federal or state statutory rights or rules, or principles of common law or equity, or those of any
<br /> jurisdiction, government, or political subdivision thereof, similar to Section 1542 (hereinafter
<br /> referred to as a "Similar Provision "). Thus, Optionee, its agents, successors and assigns, may
<br /> not invoke the benefits of Section 1542 or any Similar Provision in order to prosecute or assert in
<br /> any manner the matters referred to above. Section 1542 provides as follows: "A GENERAL
<br /> RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW
<br /> OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE
<br /> RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY
<br /> AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR."
<br /> Option Agreement 50 Chemical
<br /> 10.5.2010 v. 8
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