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WARRANTY OF CONDITION, HABITABILITY, MERCHANTABILITY OR FITNESS FOR
<br />A PARTICULAR PURPOSE, WITH RESPECT TO THE PROPERTY. As used herein,
<br />the term "Hazardous Materials" means (i) hazardous wastes, hazardous substances,
<br />hazardous constituents, toxic substances or related materials, whether solids, liquids or
<br />gases, including, but not limited to substances defined as "hazardous wastes,"
<br />"hazardous substances," "toxic substances," "pollutants," "contaminants," "radioactive
<br />materials," or other similar designations in, or otherwise subject to regulation under the
<br />Comprehensive Environmental Response, Compensation and Liability Act of 1980, as
<br />amended, 42 U.S.C. § 9601 et seq.; the Toxic Substance Control Act, 15 U.S.C. § 2601
<br />et seq.; the Hazardous Materials Transportation Act, 49 U.S.C. § 1802; the Resource
<br />Conservation and Recovery Act, 42 U.S.C. § 9601 et seq.; the Clean Water Act, 33 U.S.C.
<br />§ 1251 et seq.; the Safe Drinking Water Act, 42 U.S.C. § 300(f) et seq.; the Clean Air Act,
<br />42 U.S.C. § 7401 et seq.; and in any permits, licenses, approvals, plans, rules, regulations
<br />or 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 asbestos.
<br />c. Purchaser's failure to elect to waive the conditions pursuant to Sections 4
<br />and 5 shall be deemed an acknowledgment by Purchaser that Purchaser has inspected
<br />the Property, is thoroughly acquainted with and accepts its condition, and has reviewed,
<br />to the extent necessary, in its discretion, all the Property Information and Seller shall not
<br />be liable or bound in any manner by any oral or written information pertaining to the
<br />Property furnished by Seller, Sellers officers, employees, agents or representatives.
<br />d. Upon Closing, Purchaser shall assume the risk that adverse physical,
<br />environmental, govemmental compliance, geotechnical and other conditions from
<br />whatever source may have been revealed by Purchaser's investigations, and Purchaser,
<br />upon dosing, 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
<br />any kind or character, known or unknown, which Purchaser might have asserted or
<br />alleged against Seller or Seller's officers, employees, agents and representatives at any
<br />time by reason of or arising out of any latent or patent physical conditions, violations of
<br />applicable laws (including without limitation any Environmental Laws) and any and all
<br />other acts, omissions, events, circumstances or matters regarding the condition of the
<br />Property.
<br />9. Closing.
<br />a. The dosing for Property (the "Closing") shall be held within ninety (90) days
<br />of the Effective Date. In the event that the conditions set forth in Section 4 have not been
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