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Section 402. Approval of Condition of Property. A. Except as provided in subsection (B) of this section 402, the Developer shall have the right within thirty (30) days of the Date of this DDA to disapprove the environmental, soils and geotechnical condition of Parcel A and/or Parcel B by written notice to the Agency prior to the Conveyance. Failure by Developer to give Agency Executive Director written notice within said thirty (30) days shall automatically constitute conclusive waiver of the right to disapprove. B. The DDA shall not be terminated despite Developer's notice in the event that the amount of monies reasonably necessary to remediate the Hazardous Materials pursuant to Governmental Regulations, and generally accepted procedure to cause Parcel A and Parcel B to be in compliance with the Environmental Laws is not more than One Hundred Thousand Dollars ($100,000.00). In such event, Agency agrees to pay the amount up to such One Hundred Thousand Dollars ($100,000) limit (the "Excess Payment"). Section 403. No Further Warranties As To Property. Except as otherwise provided herein including as provided in Section 414.1, below, the physical condition and title to Parcel A and Parcel B is and shall be delivered from Agency to Developer in an "as is" condition, with no warranty expressed or implied by Agency, including without limitation, the presence of Hazardous Materials or the condition ofthe soil, its geology, the presence of known or unknown seismic faults, or the suitability of the Property for the development purposes intended hereunder. Section 404. Developer Precautions After Closing. Upon and after the effective date of this DDA, Developer shall take all necessary and reasonable precautions to prevent the release into the environment of any Hazardous Materials which are located in, on or under the Property. Such precautions shall include compliance with all Governmental Requirements with respect to Hazardous Materials. In addition, Developer shall install and utilize such equipment and implement and adhere to such procedures as are consistent with commercially reasonable standards as respects the disclosure, storage, use, removal and disposal of Hazardous Materials. Section 405. Definition of Hazardous Materials. For the purposes of this DDA, "Hazardous Materials" means any substance, material, or waste which is or becomes, regulated by the State, or the United States, including, but not limited to, any material or substance which is (i) defined as a "hazardous waste," "extremely ha!!ardous waste," or "restricted hazardous waste" under Section 25115, 25117 or 25122.7, or listed pursuant to Section 25140 of the California Health and Safety Code, Division 20, Chapter 6.5 (Hazardous Waste Control Law), (ii) defined as a "hazardous substance" under Section 25316 of the California Health and Safety Code, Division 20, Chapter 6.8 (Carpenter-Presley-Tanner Hazardous Substance Account Act), (iii) defined as a "hazardous material," "hazardous substance," or "hazardous waste" under Section 25501 ofthe California Health and Safety Code, 12