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presence of any Hazardous Substance on the Property, whether Such Hazardous
<br /> Substance is located on or under the Property, or has migrated from or to the
<br /> Property.
<br /> 9. INSPECTION PERIOD.
<br /> a. Except as otherwise provided in Section 6, Buyer shall have two hundred forty
<br /> (240) days following the Effective Date (the "Inspection Period")to investigate
<br /> the Property and determine, in Buyer's sole judgment,whether(i) the condition of
<br /> the Property is Suitable to Buyer's intended use; and (ii) Buyer will be able to
<br /> obtain all governmental approvals (including, but not limited to, approvals
<br /> necessary to subdivide and re-plat the Property) and utilities necessary for
<br /> Buyer's intended use of the Property. Buyer acknowledges and agrees that Seller
<br /> has not made any covenants, representations or warranties regarding Buyer's
<br /> ability to obtain governmental approvals from the City of Ramsey or any other
<br /> governmental entity. The City of Ramsey will review, consider and act on any
<br /> applications Buyer submits to the City for governmental approvals in accordance
<br /> with City Code.
<br /> b. Buyer may, at any time on or before 5:00 p.m. on the last day of the Inspection
<br /> Period, terminate the Agreement by written notice to Seller based on Buyer's
<br /> determination, in Buyer's sole and absolute discretion, that the condition of the
<br /> Property is not suitable for Buyer's intended use or that Buyer may not be able to
<br /> obtain all governmental approvals and utilities necessary for Buyer's *Intended use
<br /> of the Property. In addition, this Agreement automatically terminates at 5:00 p.m.
<br /> on the last day of the Inspection Period unless, prior to that time Buyer del ivers a
<br /> written notice of Buyer's intention to proceed (a"Notice to Proceed") to Seller.
<br /> c. If,pursuant to Section 9(b) either Buyer terminates this Agreement or this
<br /> Agreement is automatically terminated, the Escrow Agent Must disburse to Buyer
<br /> any Earnest Money Escrow Agent holds.
<br /> 10. DEFINITIONS. As used in this Agreement:
<br /> "Claim" or"Claims" means any and all liabilities, suits, claims, counterclaims, causes of
<br /> action, demands, penalties, debts, obligations, promises, acts, fines,judgments, damages,
<br /> consequential darnages, losses, costs, and expenses of every kind (including without
<br /> limitation any attorney's fees, consultant's fees, costs, remedial action costs, cleanup Costs
<br /> and expenses which may be related to any claims).
<br /> "Environmental Law" means the Comprehensive Environmental Response,
<br /> Compensation and Liability Act ("CERCLA"), 42 U.S.C. § 9601 et seq., the Resource
<br /> Conservation and Recovery Act, 42 U.S.C. § 6901 et seq., the Federal Water Pollution
<br /> Control Act(the Clean Water Act), 33 U.S.C. § 1251 et seq. the Clean Air Act,42 U.S.C.
<br /> § 7401 et seq., and the Toxic Substances Control Act, 15 U.S.C. § 2601 et seq., all as
<br /> amended from time to time, and any other federal, state, local or other governmental
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