10-13-2004 Council Agenda - Laserfiche WebLink

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that have caused or could cause hazardous substances or petroleum products to be released or discharged into the subsoil or ground water of the property or other property in the area. Seller represents and warrants to Buyer that, to the best of Seller's knowledge, the property is free of hazardous substances and is not subject to any "superfund" type liens or claims by governmental regulatory agencies or third parties arising from the release or threatened release of hazardous substances in, on, or about the property. Seller shall indemnify and hold Buyer harmless from any and all claims, causes of action, damages, losses, or costs (including lawyer's fees) relating to hazardous substances or petroleum products in the subsoil or ground water of the property or other property in the area which arise from or are caused by acts or occurrences upon the property prior to Buyer taking possession. These warranties and indemnifications shall survive the delivery of the Deed or Contract for Deed. Seller affirmatively states that a portion of the subject property is located within zone A of the flood plain as determined by the Flood Insurance Rate Map for the City of Little Canada, Panel 2 of 2, dated November 3, 1982. Buyer shall determine by D:j' 00� sai�lc ig at on makes the property unuseable for its purposes [Check the box if the o owing provision applies to this Purchase Agreement:) [ X ] ADDENDUM TO PURCHASE AGREEMENT: WETLANDS, SHORELAND AND FLOOD PLAIN DISCLOSURE, M.S.B.A. Real Property Form No. 8 (1997), is included as an addendum to this Purchase Agreement. Seller's warranties and representations contained in this paragraph 15., shall survive the delivery of the Deed or Contract for Deed, provided that any notice of a defect or claim of breach of warranty must be in writing. Any such notice with respect to matters referred to in A., above must be given by Buyer to Seller within one year of the Date of Closing or be deemed waived. E. Buyer shall have the right to have inspections of the property conducted prior to closing. Unless required by local ordinance or lending regulations, Seller does not plan to have the property inspected. Other than the representations made in this paragraph 15., and in paragraph 22., the property is being sold "AS IS" with no express or implied representations or warranties by Seller as to physical conditions or fitness for any particular purpose. For Seller's representations regarding the presence and location of utilities, if any, ,ce paragraph 22.,D., below. 6 - 9 -