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<br />. <br /> <br />. <br /> <br />. <br /> <br />DRAFT <br /> <br />Earnest Money <br />Draft Date: July 19,2006 <br />Page 4 of 6 <br /> <br />The Buyer, at its expense, may perform additional environmental testing to confirm that the premises <br />are free and clear of any hazardous wastes or to~ic substances. If such tests determine that said <br />premises are contaminated and Seller does not correct said contamination, this agreement at Buyer's <br />option may be declared null and void and Buyer has no further recourse against Seller. <br /> <br />9. <br /> <br />LIKE KIND EXCHANGE. Buyer acknowledges that Seller may elect to structure the sale of the <br />Property as part of a tax deferred exchange under Section 1031 of the Internal Revenue Code of <br />1986, as amended, and the regulations promulgated thereunder. Buyer further acknowledges and <br />agrees that Seller may assign all of Seller's rights and obligations hereunder to an exchange <br />intermediary; pr~:>vided, such assignment shall not be deemed a release of Seller from any obligations <br />hereunder. Buyer agrees to cooperate with Seller in response to Seller's reasonable requirements in <br />connection with such exchange; provided that Buyer shall not be required to incur additional cost or <br />liability, in connection therewith. <br /> <br />10. REPRESENTATIONS OF BUYER. The party signing this Agreement on behalf of Buyer, hereby <br />represent and warrant to Seller that such persons have all authority to sign this Agreement on behalf <br />of Buyer. <br /> <br />11. REPRESENTATIONS OF SELLER. The party signing this Agreement on behalf of Seller, hereby <br />represent and warrant to Buyer that such persons have all authority to sign this Agreement on behalf <br />of Seller. <br /> <br />12. PERSONAL PROPERTY. Included in this sale is all personal property, which is owned by Seller, <br />now on the premises and used in connection with the maintenance and operation of the building. An <br />inventory will be taken, which Buyer and Seller shall approve by placing their names thereon, and <br />shall be attached to and made a part of this Purchase Agreement. <br /> <br />13. DOCUMENTATION TO BUYER. Seller agrees to provide to the Buyer the following items within a <br />reasonable time period following acceptance of this agreement: <br />a) A copy of the current property tax statement year: 2006. <br />b) A true, correct and complete copy of any and all leases and rental agreements, with curr~.nt <br />occupants, including security deposits on file. <br /> <br />-411- <br />