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a. Title to Property. Seller holds marketable title to the Property, free and clear of
<br />all encumbrances except the Permitted Encumbrances.
<br />b. Environmental Laws. To the best of Seller's knowledge, no toxic or hazardous
<br />substances or wastes, pollutants or contaminants (including, without limitation,
<br />asbestos, urea formaldehyde, the group of organic compounds known as
<br />polychlorinated biphenyls, petroleum products including gasoline, fuel oil, crude
<br />oil and various constituents of such products, and any hazardous substance as
<br />defined in the Comprehensive Environmental Response, Compensation and
<br />Liability Act of 1980 ("CERCLA"), 42 U.S.C. Section 9601-9657, as amended)
<br />have been generated, treated, stored, released or disposed of, or otherwise placed,
<br />deposited in or located on the Property, nor has any activity been undertaken on
<br />the Property that would cause or contribute to (i) the Property to become a
<br />treatment, storage or disposal facility within the meaning of, or otherwise bring
<br />the Property within the ambit of, the Resource Conservation and Recovery Act of
<br />1976 ("RCRA"), 42 U.S.C. Section 6901 et seq., or any similar federal law, state
<br />law or local ordinance, (ii) a release or threatened release of toxic or hazardous
<br />wastes or substances, pollutants or contaminants, from the Property within the
<br />ambit of, CERCLA, or any similar federal law, state law or local ordinance, or
<br />(iii) the discharge of pollutants or effluents into any water source or system, the
<br />dredging or filling of any waters or the discharge into the air of any emissions,
<br />that would require a permit under the Federal Water Pollution Control Act, 33
<br />U.S.C. Section 1251 et seq., or the Clean Air Act, U.S.C. Section 7401 et seq., or
<br />any similar state law or local ordinance. To Seller's knowledge, no substances or
<br />conditions exist in or on the Property that may support a claim or cause of action
<br />under RCRA, CERCLA or any other federal, state or local environmental statutes,
<br />regulations, ordinances or other environmental regulatory requirements, including
<br />without limitation, the Minnesota Environmental Response and Liability Act,
<br />Minn. Stat. 115B ("MERLA") and the Minnesota Petroleum Tank Release
<br />Cleanup Act, Minn. Stat. 115C. To Seller's knowledge, no aboveground or
<br />underground tanks, are located in or about the Property, or have been located
<br />under, in or about the Property and have subsequently been removed or filled.
<br />c. Environmental Claims. Ther; -is-no Environmental-C=laim-penc#ing-touts
<br />of t -he -Seller; M eatene gair.s h Seder•-tn— P-roperty-eaga net
<br />liability for suell Environmental -Clain the -Seller -has -retained
<br />et -assumed -by -c ntraet, lieense-use agreement, lease -ware n t-y-oi=guarantee, or
<br />any-applreablc lav renmcntal-Clai . . . ten -notice -by -a
<br />Gevernment-A-talterityng p tential4iabi
<br />+nvestig*ate y -east, el-. mncntal response-eestt-tnral--restrurees
<br />damage; -property damage, personal -injury -or penalty) arising . • -suiting
<br />1 oneli eet-ly cit n reetl , . `nett e1eaee into -4 e-eniifennienta of
<br />any material oi-farm-cif-energy at any loc
<br />Mal liability -for
<br />net -owned -by the
<br />Seller, or b.) circumstances f won ng the -basis - te er alleged
<br />violation, of -an r rir rtified in Paragrap i-1 hev-e There was
<br />a tank release on this property by the former Oasis Gas Station. Buyer has been
<br />provided copies of all information in Seller's possession related to this relates.
<br />8
<br />Davis Real Estate/City of Little Canada
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