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e. Buyer accepts all risk of Claims (including without limitation all Claims under any
<br />Environmental Law and all Claims arising at common law, in equity or under a federal, state or
<br />local statute, rule or regulation) whether past, present or future, existing or contingent, known or
<br />unknown, arising out of, resulting from or relating to the condition of the Property, known or
<br />unknown, contemplated or uncontemplated, suspected or unsuspected, including without
<br />limitation the 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 Property.
<br />9. INSPECTION PERIOD.
<br />a. Except as otherwise provided in Section 6, Buyer shall have from the date that Buyer deposits the
<br />Earnest Money with Escrow Agent to September 15, 2025 (the "Inspection Period") to
<br />investigate the Property and determine, in Buyer's sole judgment, whether (i).the condition ofthe
<br />Property is suitable to Buyer's intended use; and (ii) Buyer will be able to obtain all governmental
<br />approvals (including, but not limited to, approvals necessary to subdivide and re -plat the
<br />Property) and utilities necessary for Buyer's intended use of the Property. Buyer acknowledges
<br />and agrees that Seller has not made any covenants, representations or warranties regarding
<br />Buyer's 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 applications Buyer
<br />submits to the City for governmental approvals in accordance with City Code.
<br />b. Buyer may, at any time on or before 5:00 p.m. on the last day of the Inspection Period, terminate
<br />the Agreement by written notice to Seller based on Buyer's determination, in Buyer's sole and
<br />absolute discretion, that the condition ofthe Property is not suitable for Buyer's intended use or
<br />that Buyer may not be able to obtain all governmental approvals and utilities necessary for
<br />Buyer's intended use ofthe Property. In addition, this Agreement automatically terminates at
<br />5:00 p.m. on the last day of the Inspection Period unless, prior to that time Buyer delivers 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 Agreement is
<br />automatically terminated, the Escrow Agent must disburse to Buyer any Earnest Money Escrow
<br />Agent holds.
<br />10. DEFINITIONS. As used in this Agreement:
<br />"Claim" or "Claims" means any and all liabilities, suits, claims, counterclaims, causes of action,
<br />demands, penalties, debts, obligations, promises, acts, fines, judgments, damages, consequential damages,
<br />losses, costs, and expenses of every kind (including without limitation any attorney's fees, consultant's
<br />fees, costs, remedial action costs, cleanup costs and expenses which may be related to any claims).
<br />"Environmental Law" means the Comprehensive Environmental Response, Compensation and Liability
<br />Act ("CERCLA"), 42 U.S.C. § 9601 et seq., the Resource Conservation and Recovery Act, 42 U.S.C. §
<br />6901 et seq., the Federal Water Pollution Control Act (the Clean Water Act), 33 U.S.C. § 1251 et seq. the
<br />Clean Air Act, 42 U.S.C. § 7401 et seq., and the Toxic Substances Control Act, 15 U.S.C. § 2601 et seq.,
<br />all as amended from time to time, and any other federal, state, local or other governmental statute,
<br />regulation, rule, law or ordinance dealing with the protection of human health, safety, natural resources or
<br />the environment now existing or hereafter enacted.
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