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materials now exist in, on or under the Property in violation of any "environmental law" (as
<br />defined below); (c) there are no underground tanks on the Property nor have there ever been any
<br />underground storage tanks on the Property; (d) no use of or operations on the Property have
<br />occurred which use or operation has violated any applicable environmental law; and (e) the
<br />Property is not on any "Superfund" list under any applicable environmental law. As used herein,
<br />"environmental law" shall mean any and all present federal, state or local laws (whether common
<br />law, statute, rule, regulation or otherwise), permits, orders and any other requirements of
<br />Governmental Authorities relating to the environment to any "hazardous materials" (as defined
<br />below) (including without limitation the Comprehensive Environmental Response, Compensation
<br />and Liability Act of 1980 (42 U.S.C. §§ 9601 et seq.) as amended from time to time and the
<br />applicable provisions of the California Health and Safety Code and California Water Code). As
<br />used herein, "hazardous materials" shall mean any (a) chemical, compound, material, mixture or
<br />substance that is now defined or listed in, or otherwise classified pursuant to any environmental
<br />law as a "hazardous substance," "hazardous material," "hazardous waste," "extremely
<br />hazardous waste," "infectious waste," "toxic waste," "toxic pollutant" or any other formulation
<br />intended to define, list or classify substances by reason of deleterious properties or effect and
<br />(b) petroleum, petroleum by-products, natural gas, natural gas liquids, liquefied natural gas,
<br />synthetic gas usable for fuel (or mixtures of natural gas in such synthetic gas), ash, municipal solid
<br />waste steam, drilling fluids, produced waters and other wastes associated with the exploration,
<br />development and production of crude oil, natural gas or geothermal resources.
<br />7.1.7 No Assumed Obligations. There are no obligations or
<br />responsibilities of Seller with respect to the Property or otherwise of any kind that are assumed by
<br />Buyer.
<br />7.1.8 Endangered Species. To the best of Seller's knowledge, (a) there
<br />are no endangered or threatened species of animals, plants or insects on the Property, and (b) there
<br />are no environmental or biological characteristics of the Property or adjacent property, which
<br />under existing law will adversely affect Buyer's ability to own, develop and/or market the Property
<br />or the cost thereof.
<br />7.1.9 Ownership of Property. Seller is the sole and only party that owns
<br />or holds any interest in the Property.
<br />7.1.10 Property Documents. To the best of Seller's knowledge, the
<br />Property Documents and all other documents and information provided by Seller or its agents or
<br />consultants to Buyer are complete, true and accurate and do not omit any material fact and there
<br />are no other documents, materials, studies, surveys or other information in the possession or
<br />control of Seller that would have a material and adverse effect on Buyer's ability to own, develop
<br />and/or market the Property.
<br />7.1.11 Other Agreements. Except as set forth in the Property Documents
<br />and this Agreement, Seller has not made any commitment or representation to or entered into any
<br />agreement of any kind with any government authority, or any adjoining or surrounding property
<br />owner, group or other third party, which would in any way be binding on Buyer or all or any
<br />portion of the Property or would interfere in anyway with Buyer's abilityto own, develop, improve
<br />and/or market the Property, and will not make any such representations or warranties or enter into
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