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5489135.1 7
<br />by any local governmental authority, any agency of the State of California, or any
<br />agency of the United States of America; (H) any substance the presence of which at
<br />the Property causes, or threatens to cause, a nuisance and/or a trespass upon the
<br />Property, or to adjacent properties, or poses, or threatens to pose, a hazard to the
<br />health or safety of human beings; (I) asbestos (including, without limitation, asbestos
<br />containing materials), petroleum and petroleum based products, urea formaldehyde
<br />foam insulation, polychlorinated biphenyls (PCBs), Freon and other
<br />chlorofluorocarbons, flammable, explosive, infectious, carcinogenic, mutagenic, or
<br />radioactive materials, petroleum or any substance containing or consisting of
<br />petroleum hydrocarbons (including, without limitation, gasoline, diesel fuel, motor
<br />oil, waste oil, grease or any other fraction of crude oil), paints and solvents, lead,
<br />cyanide, DDT, printing inks, acids, pesticides, ammonium compounds,
<br />polychlorinated biphenyls, radon and radon gas, and electromagnetic or magnetic
<br />materials, substances, or emissions; and (J) those substances defined as any of the
<br />foregoing in the regulations adopted and publications promulgated pursuant to each
<br />of the aforesaid laws.
<br />b) For purposes of this Contract, the term “Environmental Requirements” shall mean
<br />all laws, ordinances, statutes, codes, rules, regulations, agreements, judgments,
<br />orders, and decrees, now or hereafter enacted, promulgated, or amended, of the
<br />United States, the states, the counties, the cities, or any other political subdivisions in
<br />which the Property is located, and any other political subdivision, agency or
<br />instrumentality exercising jurisdiction over the owner of the Property, the Property,
<br />or the use of the Property, relating to pollution, the protection or regulation of human
<br />health, natural resources, or the environment, or the emission, discharge, release or
<br />threatened release of pollutants, contaminants, chemicals, or industrial, toxic, or
<br />hazardous substances or waste or Hazardous Materials into the environment
<br />(including, without limitation, ambient air, surface water, ground water or land or
<br />soil).
<br />5.2. “As-Is”. Seller is not liable or bound in any manner by any oral or written statements,
<br />representations or information pertaining to the Property, or the operation thereof, furnished
<br />by any real estate broker, agent, employee, servant or other person. Purchaser further
<br />acknowledges and agrees that Purchaser will purchase and accept the Property in its
<br />condition as of Closing , and the Property is and shall be transferred by Seller to Purchaser,
<br />in an “AS IS, WHERE IS, WITH ALL FAULTS, LIABILITIES, DEFICIENCIES,
<br />AND DEFECTS, PATENT, LATENT OR OTHERWISE, KNOWN OR UNKNOWN”
<br />condition, whatever that condition may be, and that Seller has no obligations to make
<br />repairs, replacements or improvements, whether before or after the Closing. Purchaser
<br />represents, warrants and covenants to Seller that, Purchaser will solely rely upon Purchaser’s
<br />own investigation and knowledge of the Property and all other matters relating to the
<br />Property, and not on any information provided or to be provided by Seller or anyone acting
<br />on Seller’s behalf. Except as otherwise provided in this Contract, Purchaser further assumes
<br />all risk of loss, damage, expense, and liability whatsoever in connection with the Property
<br />(or any portion thereof) from and after the Closing, and Seller shall not be liable for any lack
<br />of repair, maintenance, or improvements to the Property.
<br />5.3. Purchaser Indemnity. EXCEPT AS OTHERWISE PROVIDED HEREIN, PURCHASER
<br />HEREBY AGREES TO INDEMNIFY, PROTECT, DEFEND, SAVE, AND HOLD
<br />EXHIBIT 1
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