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Seller has the legal authority to enter into this Agreement and sell <br />the Property. The individuals executing this Agreement on behalf <br />of Seller have the requisite authority to execute this Agreement and <br />such other documents as are contemplated or to be delivered by <br />Seller herein and to bind Seller thereto. <br />ii To the best of Seller's actual knowledge Seller has marketable fee <br />simple title to the Property subject only to recorded dedications, <br />easements, agreements, covenants, conditions and restrictions (the <br />"Existing Encumbrances "). <br />iii There are no actions, suits, proceedings or investigations pending <br />or, to Seller's knowledge, threatened against the Property, <br />including, without limitation, (A) condemnation or eminent <br />domain claims, actions or proceedings, or (B) actions to seize any <br />portion of the Property under any civil or criminal law authorizing <br />seizure or forfeiture as a penalty for violation. <br />iv To the best of Seller's actual knowledge, there are no tenants or <br />other third parties in possession of any portion of the Property. <br />vi Seller has not entered into any unrecorded mortgages of the <br />Property; any unrecorded contracts, leases or other agreements <br />granting any third parties any right, title or interest in or to the <br />Property; any other purchase agreements for the sale of the <br />Property; or any unrecorded rights of first refusal or unrecorded <br />options to purchase the Property. To Seller's actual knowledge no <br />other person or entity has entered into any such unrecorded <br />agreements or grants of interests. <br />vii To the best of Seller's actual knowledge, Seller is not in default in <br />the performance of any of Seller's obligations under any easement <br />agreement, covenant, condition, restriction or other instrument <br />relating to the Property. <br />viii Seller is not aware of any violation by Seller of any applicable <br />laws, ordinances, regulations, statutes, rules and restrictions <br />pertaining to and affecting the Property. To the best of Seller's <br />knowledge, performance of this Agreement will not result in any <br />breach of, or constitute any default under, or result in the <br />imposition of, any lien or encumbrance upon the Property under <br />any agreement or other instrument to which Seller is party or by <br />which Seller or the Property might be bound. Seller shall comply, <br />at its sole expense, with any and all environmental and other <br />applicable rules, regulations, and conditions applicable to the <br />Property in its present condition and as presently used. <br />-7- <br />