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"Seller Environmental Conditions" shall mean any release or threatened <br />release of any Hazardous Substances into the drainage systems, soils, <br />groundwater, waters or atmosphere, which release is the result of the <br />control, use, occupancy and/or operation of the Property by SELLER or <br />its affiliates prior to the Closing Date. <br />8. REAL ESTATE TAXES AND SPECIAL ASSESSMENTS. Real estate taxes <br />and assessments shall be payable as follows: <br />a. Real estate taxes including special assessments clue and payable in and for <br />the year of closing shall be prorated betweenx:SELLER and BUYER to <br />the actual Closing Date. <br />b. SELLER shall pay on the Closing Date, all special assessments levied as <br />of the date of this Agreement. <br />C. BUYER shall assume on the CIO ing DateeVecial assessmen is `pending as <br />of the date of this Agreement for- t'provements that have been ordered by <br />the City Council or other governmem sessing authorities. <br />d. SELLER shall pay ph'the Closing Date' any deferred real estate taxes or <br />special assessments, payr nt of which in quired as a result of the <br />closing of this sale. <br />e. BU all pay real estate taxes due =and payable in the year following <br />,closing and . thereafter and any unpaid special assessments payable <br />Herewith aril thereafter, the payment of which is not otherwise provided <br />for::herein . <br />SELLS `makes no` representation concerning the amount of future real <br />estate taxes or of future special assessments. <br />. SELLER'S`aREPRESItNTATIONS AND WARRANTIES. As an essential <br />part of this Agreement and in order to induce BUYER to enter into this Agreement and to <br />purchase the Property, SELLER represents and warrants to and agrees with BUYER that: <br />a. SELLER has all requisite power and authority to enter into and to <br />perform this Agreement according to its terms. <br />b. SELLER has duly and validly authorized and executed this Agreement <br />and the consummation of the transactions contemplated thereby will not <br />constitute a default under SELLER'S organizational documents and <br />SELLER is not otherwise in contravention of any law, order, ordinance or <br />governmental restriction or regulation with respect to the Property by <br />which SELLER is bound or subject. <br />4 <br />