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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: <br />( C3 �'.�3$s ?�3.1� �;�;� �3 > '��7:3:�f.3Ca,�� ��'` :ii��i�i�i:!'E..''�:;jZf�oi''o:�:'�i%�L�1kLkf,�:i.Gl:QG;�i;f;:i�;�:1;G3: <br />: ......:.: .: <br />) .� :.- > a� < < . .0 � � :<::>:::.:4;:.t . : :^i, sS'.C3�,. .. ... • �a < a c.a•.:.,<:.<; <br />. . .� ' . .� . . <br />>. <br />�.ue� ... u: . .: v. �:::',,:.. ,.:�' . <br />�:a�,�'�����f ��;� ;�t��r��� �:�iere '�s no acta.nn�, 1':3:'t 'gat�"on, <br />�.r:,:::.,,�. . <br />investi'ga�`ic�}+ ��ycar'zc�"�inriation or proce�ding of any kind pend3n.g <br />againgt Seller or �.he ProQerty which could advezsel.y affect <br />the Property, any portion thereo� or title th�reto- Sel�.e= <br />shall give Buyer prompt written not3ce if an.� such action, <br />litigation, condemnation or proceeding is threatened or <br />commenced prior to the Closing Date. <br />: .. � <br />b To �he best af Seller `s kno�rledge, �;��;;�;i���;�;�`���i� <br />-�,s':,��;�; <br />��,'������)���`��'�i� `5��,�;e� ��'`�h� Bu����: the Prope�ty�:�.$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 <br />