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b. The individual signing this Agreement on behalf of Buyer is fully authorized and empowered to sign this Agreement on Buyer's behalf. Upon execution of this Agreement, it will be fully binding upon Buyer; and c. Buyer is solely responsible for the payment of any commission or fee due to any agent Buyer engages in connection with this transaction. 14. Inspections. At all times prior to the Date of Closing, Buyer and its agents have the right, upon reasonable notice to Seller, to go upon the Property to inspect the Property and to determine the condition of the Property and the improvements located thereon, including specifically the presence or absence of hazardous substances, petroleum products and asbestos in, on, or about the Property. Buyer agrees to indemnify and defend Seller from and to hold Seller harmless against any and all claims, causes of action or expenses, including attorneys fees, relating to or arising from Buyer's presence on the Property prior to the Date of Closing. Buyer agrees to repair any damage to the Property caused by such inspections and to return the Property to substantially the same condition as existed prior to Buyer's inspection. Buyer acknowledges that Buyer is purchasing the Property in reliance on Buyer's inspection of the Property pursuant to this Section 14 and on Buyer's judgment regarding the sufficiency of such inspections. Other than the representations set forth in Section 12 of this Agreement, Buyer is not relying on any written or oral representations, warranties or statements that Seller or Seller's Agents have made. Subject to Buyer's right to terminate this Agreement pursuant to Section 19, Buyer is purchasing the Property in "AS IS" condition pursuant to the terms of this Agreement. on: 2650680v4 09/13/10 15. Buyer's Contingencies. Buyer's obligations under this Agreement are contingent a. Buyer's determination, in Buyer's sole discretion based on the information and inspections described in Section 14 above and any other relevant information, that the condition of the Property is acceptable to Buyer. b. Buyer's determination, in Buyer's sole discretion, that the terms of any Master Declaration that Seller records against title to the Property prior to the Date of Closing and the terms of any Ordinance the City adopts to establish a special service district pursuant to Minnesota Statute Chapter 428(A) are acceptable to Buyer. c. If the boundaries of the Property as depicted on the Approved Preliminary Plat are not the same as the boundaries of the Property as depicted on the Draft Preliminary Plat, Buyer's determination, in Buyer's sole discretion, that the boundaries and area of the Property as depicted on the Approved Preliminary Plat are acceptable to Buyer. d. The City Council's approval of a Final Plat. e. Buyer's acquisition of any rezoning, governmental approvals, unappealable permits, variances, conditional use permits, licenses, site plan approvals, operating permits or other federal, state or local approvals or permits (collectively, the "Permits ") necessary for Buyer's construction of improvements on the Property and -12-