2006.05.15 EDA Packet - Laserfiche WebLink

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been no discharge, release or threatened release of Hazardous Substances from the Property, and there are no Hazardous Substances or conditions in or on the Property that may support a claim or cause of action under any Environmental Law. The Property is not now, and to the best of Seller's knowledge never has been, listed on any list of sites contaminated with Hazardous Substances, nor used as landfill, dump, disposal or storage site for Hazardous Substances. Seller has maintained all records required to be kept concerning the presence, location and quantity of asbestos containing materials, and presumed asbestos containing materials, in the Property and will deliver the same to Buyer on or before Closing. 8.4 Seller's Defaults. Seller is not in default concerning any of its obligations or liabilities regarding the Property. 8.5 FIRPTA. Seller is not a"foreign person", "foreign partnership", "foreign trust" or"foreign estate", as those terms are defined in Section 1445 of the Internal Revenue Code. 8.6 Proceedings. There is no action, litigation, investigation, condemnation or proceeding of any kind pending or threatened against Seller or any portion of the Property. 8.7 Condition. The buildings, structures and improvements included within the Property are structurally sound and in good repair and condition, and all mechanical, electrical, heating, air conditioning, drainage, sewer, water and plumbing systems are in proper working order. All fixtures, equipment and appliances included in the Property are in proper working order. 8.8 Wells. The Seller certifies and warrants that the Seller does not know of any "Wells"on the described Property within the meaning of Minn. Stat. § 103I. This representation is intended to satisfy the requirements of that statute. 8.9 Sewage Treatment System Disclosure. For the purposes of satisfying any applicable requirements of Minn. Stat. § 115.55, Seller discloses and certifies that: a) Seller has no knowledge of the existence of an abandoned individual sewage treatment system on the Property. b) Sewage generated on the Property goes to a facility permitted by the Minnesota Pollution Control Agency. Seller will indemnify Buyer, its successors and assigns, against, and will hold Buyer, its successors and assigns, harmless from, any expenses or damages, including reasonable attorneys' fees, that Buyer incurs because of the breach of any of the above representations and warranties, whether such breach is discovered before or after Closing. Except as herein expressly stated, Buyer is purchasing the Property based upon its own investigation and inquiry and is not relying on any representation of Seller or other person and is agreeing to accept and purchase the Property "AS IS, WHERE IS" subject to the conditions of examination herein set forth and the -6-