APR 19 '96 14�14 KENNEDY & GRAVEN
<br />P.6
<br />and in Forne satistactory to Buyer showiag a11 improvements and
<br />baundaries (the "5urvey").
<br />11. Default_ Z� Seller defaul.ts in its obligations hereunder
<br />in any manner, Buyer may, by n.otice upon Sel�er, (�. ) texm.�nate this
<br />Purchase Agreement, in which event alI op�ion money paid hereunder
<br />shall immediately be deliverad to Buyer, and Se11er sha11. reimburse
<br />Buyer for all costs and expenses incurred by Buyer in connection
<br />with this transact.�on �up to and includzng the date o£ default, or
<br />( ii ) provirled tha� any action is brough� Wi.tha.n six ( 6) months of
<br />de�ault nnder the terms of this Ag,reement, avail. itself of an�r
<br />other remedy fo� said default which it may have at la�c+a, in eq�.ity
<br />or b�r s�a�ute, including, bnt not limited to, an acti.oa io� damages
<br />and/or specific p�rformance. Tf Buyer sha11 defaul.t in the
<br />performance of any of �.ts obligations hereunder, then Se�.ler shall
<br />be �nti�k�.ed to �e�mi�a�e �his Agreement immediately and retain al�
<br />option moneye Tn suCh event, Buyer.shall provide Se11er with i�s
<br />quit claim deed. Nothing herein sha�.l relieve Buy�r of any
<br />obltgation to indemnify or hold Seller harm.Iess as stated her�in.
<br />12. Representations and Wazzan:�i.es by Sel].er. Se�ler
<br />represents and warrants to Buyer that:
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<br />�:a�,�'�����f ��;� ;�t��r��� �:�iere '�s no acta.nn�, 1':3:'t 'gat�"on,
<br />�.r:,:::.,,�. .
<br />investi'ga�`ic�}+ ��ycar'zc�"�inriation or proce�ding of any kind pend3n.g
<br />againgt Seller or �.he ProQerty which could advezsel.y affect
<br />the Property, any portion thereo� or title th�reto- Sel�.e=
<br />shall give Buyer prompt written not3ce if an.� such action,
<br />litigation, condemnation or proceeding is threatened or
<br />commenced prior to the Closing Date.
<br />: .. �
<br />b To �he best af Seller `s kno�rledge, �;��;;�;i���;�;�`���i�
<br />-�,s':,��;�;
<br />��,'������)���`��'�i� `5��,�;e� ��'`�h� Bu����: the Prope�ty�:�.$s'`,not�"'been
<br />,,,<,....,.,. ,., , .:.., �. ,<, ,�,�
<br />used �or t�e geai�ra�ion; transportation, storage, treatment.,
<br />or disposal of any �azardous watste, hazardous substance,
<br />poliutant, or contam.a.nant, lncluding petroleuam, as defined
<br />under fedezal, state or local law.
<br />{c) To the best of 5�liers know].edge thers are nat we].�.s
<br />on the Praperty, there are not underground storage tanks
<br />located on the Property, and theze are no s�ptic systems
<br />Iocated on the Property.
<br />{d) There are no o�erating or service co.ntracts or
<br />managemen� agzeements affecting the Prvperty which Wi].1 not
<br />expi=e at or prior to the Closing Date or are not terminable
<br />on thirty days or less notice except as specxf�.call�r set farth
<br />on Exhibit B attached hezeto.
<br />{�} A11 doCUmen�.s provided to Buyer by Sel.�er hereunder,
<br />i.ncluding, without limitation, th� documents referred to in
<br />Pa�agraph �r hereof/� , shall be tzue and correct to the best of
<br />Seiler's knowledge.
<br />raerioa9a�
<br />a�uizs-�s
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