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<br />of any kind or character whatsoever, whether express or implied, oral or written, with
<br />respect to the Property, including, without limitation, the condition of the Land, the
<br />existence or nonexistence of Hazardous Materials (defined below), water or water rights,
<br />development rights, taxes, bonds, covenants, conditions and restrictions, topography,
<br />drainage, soil, subsoil, utilities, zoning, or other rules and regulations affecting the
<br />Property. SELLER MAKES NO WARRANTY OR REPRESENTATION, EXPRESS
<br />OR IMPLIED, OR ARISING BY OPERATION OF LAW, INCLUDING, BUT NOT
<br />LIMITED TO, ANY WARRANTY OF CONDITION, HABITABILITY,
<br />MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, WITH
<br />RESPECT TO THE PROPERTY. As used herein, the term “Hazardous Materials”
<br />means (i) hazardous wastes, hazardous substances, hazardous constituents, toxic
<br />substances or related materials, whether solids, liquids or gases, including, but not
<br />limited to substances defined as “hazardous wastes,” “hazardous substances,” “toxic
<br />substances,” “pollutants,” “contaminants,” “radioactive materials,” or other similar
<br />designations in, or otherwise subject to regulation under the Comprehensive
<br />Environmental Response, Compensation and Liability Act of 1980, as amended, 42
<br />U.S.C. § 9601 et seq.; the Toxic Substance Control Act, 15 U.S.C. § 2601 et seq.; the
<br />Hazardous Materials Transportation Act, 49 U.S.C. § 1802; the Resource Conservation
<br />and Recovery Act, 42 U.S.C. § 9601 et seq.; the Clean Water Act, 33 U.S.C. § 1251 et
<br />seq.; the Safe Drinking Water Act, 42 U.S.C. § 300(f) et seq.; the Clean Air Act, 42
<br />U.S.C. § 7401 et seq.; and in any permits, licenses, approvals, plans, rules, regulations or
<br />ordinance adopted, or other criteria and guidelines promulgated pursuant to the
<br />preceding laws or other similar federal, state or local laws, regulations, rules or
<br />ordinances now or hereafter in effect relating to environmental matters (collectively the
<br />“Environmental Laws”); and (ii) any other substances, constituents or wastes subject to
<br />any applicable federal, state or local law, regulation or ordinance, including any
<br />Environmental Law now or hereafter in effect, including but not limited to petroleum,
<br />refined petroleum products, waste oil, waste aviation or motor vehicle fuel, and
<br />asbestos.
<br />3.3.3 Purchaser’s failure to elect to waive the conditions pursuant to Section
<br />1.4, Section 4.1 or Section 4.2 shall be deemed an acknowledgment by Purchaser that
<br />Purchaser has inspected the Property, is thoroughly acquainted with and accepts its
<br />condition, and has reviewed, to the extent necessary, in its discretion, all the Property
<br />Information and Seller shall not be liable or bound in any manner by any oral or written
<br />information pertaining to the Property furnished by Seller, Seller’s officers, employees,
<br />agents or representatives.
<br />3.3.4 Upon closing, Purchaser shall assume the risk that adverse physical,
<br />environmental, governmental compliance, geotechnical and other conditions from
<br />whatever source may have been revealed by Purchaser’s investigations, and Purchaser,
<br />upon closing, shall be deemed to have waived, relinquished and released Seller, and
<br />Seller’s officers, employees, agents and representatives, from and against any and all
<br />claims, demands, causes of action, losses, damages, liabilities, costs and expenses of any
<br />kind or character, known or unknown, which Purchaser might have asserted or alleged
<br />against Seller or Seller’s officers, employees, agents and representatives at any time by
<br />reason of or arising out of any latent or patent physical conditions, violations of
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