Laserfiche WebLink
representations, statements or warranties by Seller or any agent of Seller or any real estate <br />broker or salesman. All previous written, oral, implied or other statements, representations, <br />warranties or agreements, if any, are merged herein. Except as expressly set forth herein, <br />Seller will have no liability to Purchaser, and Purchaser hereby releases Seller from any liability <br />(including, but not limited to, contractual and/or statutory actions for contribution or indemnity), <br />for, concerning or regarding (i) the nature and condition of the Premises, including, but not <br />limited to, the suitability thereof for any activity or use; (ii) any improvements or substances <br />located thereon; or (iii) the compliance of the Premises with any laws, rules, ordinances or <br />regulations of any government or other body. PURCHASER ACKNOWLEDGES THAT <br />SELLER HAS MADE NO, AND EXPRESSLY DISCLAIMS ALL, REPRESENTATIONS, <br />WARRANTIES, COVENANTS AND AGREEMENTS, WHETHER IMPLIED OR BY <br />OPERATION OF LAW, WITH RESPECT TO ANY MATTER AFFECTING THE PREMISES, <br />INCLUDING BUT NOT LIMITED TO: (i) THE CONDITION, SUITABILITY, HABITABILITY, <br />MERCHANTABILITY OR FITNESS OF THE PREMISES FOR PURCHASER'S PLANNED USE <br />OF THE PREMISES; (ii) THE AVAILABILITY OR EXISTENCE OF ANY WATER, SEWER OR <br />UTILITIES (PUBLIC OR PRIVATE); AND (iii) THE EXISTENCE OF ANY HAZARDOUS <br />SUBSTANCE IN, ON, OR ABOUT THE PREMISES. PURCHASER ACKNOWLEDGES THAT <br />THE PREMISES IS BEING SOLD "AS IS". THE PROVISIONS OF THIS PARAGRAPH WILL <br />SURVIVE THE CLOSING HEREUNDER. <br />8. Escrow: This sale will be closed in escrow with the Title Company, under a deed and <br />money escrow agreement conforming with this Contract, within 14 days after all contingencies <br />and/or conditions and provisions of this Contract have been satisfied or waived by Purchaser <br />and the Title Company is prepared to issue its final owner's policy, subject only to the approved <br />title matters. Prior to closing, Seller will submit to Purchaser for approval a copy of the required <br />deed and copies of the restrictive covenants described in Article 3. The submission and <br />approval of these documents is a contingency of this Contract. <br />Seller and Purchaser agree that because Seller is a government entity exempt from the <br />payment of real estate taxes, there will be no current or outstanding real estate taxes prior to <br />closing. Notwithstanding the foregoing, if there are any outstanding real estate taxes or special <br />assessments due and payable on or before closing, Seller will be responsible for those costs. <br />If the Premises is part of a larger parcel and is not separately assessed as of the date of <br />closing, Purchaser's prorata share will be calculated in the following manner: (A) in the case of <br />the land, the numerator of the fraction will be the land area of the Premises, and the <br />denominator of the fraction will be the total land area of the property covered by the tax bill; (B) <br />in the case of buildings, if there is no separate assessment for the building(s) on the Premises, <br />the numerator of the fraction will be the area of the building(s) on the Premises, and the <br />denominator of the fraction will be the total area of all buildings located on the property covered <br />by the tax bill. Purchaser's prorata share will not include taxes attributable to improvements, <br />unless there is a building on the Premises and Purchaser intends to use such building. For <br />purposes of this Article 8, the term "Premises" will not be deemed to include any easement <br />areas. <br />All transfer and conveyance taxes or documentary stamps and special real estate taxes <br />and assessments will be paid by Seller. The cost of recording the documents called for in this <br />Contract will be paid by Purchaser. The cost of the escrow will be divided equally between <br />Document #: 1118064-v8 <br />-8- <br />