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"A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE
<br />CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO
<br />EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE
<br />RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE
<br />MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE
<br />DEBTOR OR RELEASED PARTY."
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<br />Buyer's Initials
<br />14. State's Representations and Warranties. In consideration of Buyer entering into
<br />this Agreement, State makes the representations and warranties set forth in this Section 14. For
<br />the purpose of this Agreement, without creating any personal liability on behalf of such
<br />individual, usage of "to State's actual knowledge," or words to such effect, shall mean the
<br />present, actual knowledge of Terry Todd, Department of General Services, Real Estate Services
<br />Division, Asset Management Branch, excluding constructive knowledge or duty of inquiry,
<br />existing as of the Effective Date. In the event that Buyer, prior to Close of Escrow, becomes
<br />aware, from State or otherwise, of any inaccuracy or omission in the disclosures, information, or
<br />representations previously provided to Buyer by State or its consultants or agents, which will
<br />have a material, adverse impact on Buyer, the Property or the intended use of the Property,
<br />Buyer, as its sole option and remedy, may either (i) terminate this transaction and receive a
<br />refund of its Deposit made by Buyer, thereby waiving any claims or actions that Buyer may have
<br />against State as a result of such inaccuracy or omission, or (ii) proceed with the Close of Escrow
<br />hereunder, thereby waiving any rights that Buyer may have against State as a result of such
<br />inaccuracy or omission. Buyer agrees that, under no circumstances, shall Buyer be entitled to
<br />purchase the Property hereunder and then bring any claim or action against State for damages as
<br />a result of such inaccuracy or omission, except if such inaccuracy or omission is based on fraud
<br />or intentional misrepresentation by State. The representations and warranties of State set forth in
<br />this Section 14 shall survive the Close of Escrow for a period of six (6) months.
<br />(a.) State's Authority. State is the sole owner of fee title to the Property and
<br />has the legal power, right and authority to enter into this Agreement and the instruments
<br />referenced herein, and to consummate the transactions contemplated hereby in the execution,
<br />delivery and performance of this Agreement. Furthermore, the execution and delivery of this
<br />Agreement has been duly authorized and no other action by State is required in order to make it a
<br />valid and binding contractual obligation of State.
<br />(b.) No Prior Transfers. Except as disclosed in the Documents and Materials,
<br />Title Documents and this Agreement, State has not previously sold, transferred or conveyed the
<br />Property, or granted to any other person or entity any right or interest in all or any part of the
<br />Property and State has not entered into any executory contracts for the sale of all or any part of
<br />the Property (other than this Agreement), nor do there exist any rights of first refusal or options
<br />to purchase the Property, other than this Agreement.
<br />(c) Legal Actions. There is no pending lawsuit or, to the actual knowledge of
<br />State, threatened suit, action, arbitration, legal, administrative or other proceeding or
<br />governmental investigation, which affects the Property.
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