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DRAFT 4.5.2022
<br />Authority may agree, the Authority may notify the Developer of its failure to comply with the
<br />requirement of this paragraph and may terminate this Agreement at its sole discretion.
<br />9. Representations.
<br />a. The Authority makes the following representations and disclosures regarding the
<br />Property: None, other than those stated in section 2 of this Agreement.
<br />b. Other than as represented herein by the Authority, the Developer acknowledges that
<br />the Authority makes no representations or warranties as to the condition of the soils
<br />on the Property or its fitness for its intended use and for construction of the Minimum
<br />Improvements or any other purpose for which the Developer may make use of such
<br />property.
<br />C. The Developer acknowledges that it has inspected or has had the opportunity to
<br />inspect the Property and agrees to accept the Property "AS IS" with no right of set
<br />off or reduction in the purchase price. Such sale shall be without representation of
<br />warranties, express or implied, either oral or written, made by the Authority or any
<br />official, employee or agent of the Authority with respect to the physical condition
<br />of the Property, including but not limited to, the existence or absence of petroleum,
<br />hazardous substances, pollutants or contaminants in, on, or under, or affecting the
<br />Property or with respect to the compliance of the Property or its operation with any
<br />laws, ordinances, or regulations of any government or other body, except as stated
<br />above. The Developer acknowledges and agrees that the Authority has not made
<br />and does not make any representations, warranties, or covenants of any kind or
<br />character whatsoever, whether expressed or implied, with respect to warranty of
<br />income potential, operating expenses, uses, habitability, tenant ability, or suitability
<br />for any purpose, merchantability, or fitness of the Property for a particular purpose,
<br />all of which warranties the Authority hereby expressly disclaims, except as
<br />otherwise expressly stated herein. The Developer is relying entirely upon
<br />information and knowledge obtained from its own investigation, experience and
<br />knowledge obtained from its own investigation, experience or personal inspection
<br />of the Property. The Developer expressly assumes, at closing, all environmental
<br />and other liabilities with respect to the Property and releases and indemnifies the
<br />Authority from same, whether such liability is imposed by statute or derived from
<br />common law including, but not limited to, liabilities arising under the
<br />Comprehensive Environmental Response, Compensation and Liability Act
<br />("CERCLA"), the Hazardous and Solid Waste Amendments Act, the Resource
<br />Conservation and Recovery Act ("RCRA"), the federal Water Pollution Control
<br />Act, the Safe Drinking Water Act, the Toxic Substances Act, the Superfund
<br />Amendments and Reauthorization Act, the Toxic Substances Control Act and the
<br />Hazardous Materials Transportation Act, all as amended, and all other comparable
<br />federal, state or local environmental conservation or protection laws, rules or
<br />regulations. The foregoing assumption and release shall survive Closing and shall
<br />not be deemed merged into any instrument of conveyance delivered at Closing. All
<br />statements of fact or disclosures, if any, made in this Agreement or in connection
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