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d. Ability to utilize the easement area for storm water retention as is more fully <br />described in Paragraph 5 below. <br />e. Approval from the City of Little Canada for Buyer's intended use of the Real <br />Estate as an office warehouse. <br />Seller shall provide Buyer with reasonable access to the Real Estate and shall permit <br />Buyer to make soil borings, and perform other tests to determine the suitability of the project for <br />its intended purpose. The costs of said soil borings shall be divided equally between the Buyer <br />and Seller. Buyer shall have until April 1, 2006, in order to remove the contingencies set forth <br />above. If Buyer has not notified Seller in writing by April 1, 2006 that it desires to have its <br />obligation to perform hereunder excused by reason of such contingencies, Buyer shall be deemed <br />to have waived the contingencies. <br />5. EASEMENT. Seller shall provide Buyer with an easement for storm water <br />retention purposes in the triangular area east of the vacated road but westerly of the panhandle of <br />the property owned by Seller. Buyer shall pay all costs of engineering and construction of such <br />facilities as are necessary to utilize the easement area for storm water retention. In consideration <br />for the above - described easement, Buyer shall provide Seller with an easement for access to the <br />pumping station located adjacent to the Real Estate. <br />6. REPRESENTATION AND WARRANTIES OF SELLER. Seller hereby <br />makes the following representations and warranties to Buyer which representations and <br />warranties shall survive closing: <br />a. Title to Real Estate. Seller will own the Real Estate as of the closing free and <br />clear of all encumbrances except easements of record. <br />b. Leases. The Real Estate is presently subject to a leasehold interest in favor of <br />Naegele, Inc. <br />c. Assessments. Seller has received no notice of actual or threatened special <br />assessments or reassessments of the Real Estate. <br />d. Rights of Others to Purchase Real Estate. Seller has not entered into any other <br />contracts other than this Agreement for the sale of the Real Estate and there are no <br />rights of first refusal or options to purchase the Real Estate or any other rights of <br />others that might prevent the consummation of the transaction contemplated by <br />this Agreement. <br />e. Proceedings. There is no action, litigation, investigation, condemnation or <br />proceedings of any kind pending or to the best of Seller's knowledge, threatened <br />against Seller for any portion of the Real Estate. <br />1 Wells. To the best of Seller's knowledge, there are no wells located on the Real <br />Estate that have not either been removed or sealed. <br />-20- <br />