09-22-1999 Council Agenda - Laserfiche WebLink

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9. Real Estate Tax Proration. Seller shall pay all delinquent real estate taxes including penalties and interest. Real estate taxes payable in 1999 shall be paid prorated as of the date of closing on a daily basis based upon the calendar year. Real estate taxes payable in 2000 shall be the obligation of the Purchaser. 10. Hazardous Substances. a. Seller's Representations, Warranties and Covenants. Seller represents, warrants and covenants the following: (1) To the best of Seller's knowledge, the Property does not presently contain and is free from all hazardous substances and/or wastes, toxic and nontoxic pollutants and contaminants, including but not limited to petroleum products and asbestos ( "Hazardous Substances "). (2) To the best of Seller's knowledge, the Property has not in the past been used for the storage, manufacture or sale of Hazardous Substances or for any activity involving Hazardous Substances, except in accordance with applicable laws, rules and regulations. (3) To the best of Seller's knowledge and except as disclosed in the Assessment, no Hazardous Substances are located in the vicinity of the Property. (4) Seller shall not store, manufacture, use or sell any Hazardous Substances on or in the Property prior to closing, except in accordance with applicable laws, rules, and regulations. (5) To the best of Seller's knowledge, Seller has not transported, or caused to be transported, any Hazardous Substances to or from the Property, except in accordance with applicable laws, rules and regulations. (6) Seller has not received and is not aware of any notification from any federal, state, county or city agency or authority relating to Hazardous Substances on or in the Property. (7) Seller is not aware of any other underground or aboveground storage tanks that have ever been or are located under or on the Property. 11. Seller's Warranties. Seller covenants and makes the following warranties to Purchaser: Page 106