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DRAFT <br />CONDITION OF THE PROPERTY; (B) THE INCOME TO BE DERIVED FROM THE <br />PROPERTY; (C) THE SUITABILITY OF THE PROPERTY FOR ANY AND ALL <br />ACTIVITIES AND USES WHICH AGENCY MAY CONDUCT THEREON; (D) THE <br />COMPLIANCE OF OR BY THE PROPERTY OR ITS OPERATION WITH ANY LAWS, <br />RULES, ORDINANCES OR REGULATIONS OF ANY APPLICABLE GOVERNMENTAL <br />AUTHORITY OR BODY, INCLUDING, BUT NOT LIMITED TO, ANY STATE OR <br />FEDERAL ENVIRONMENTAL LAW, RULE OR REGULATION; (E) THE HABITABILITY, <br />MERCHANTABILITY, OR FITNESS OF THE PROPERTY FOR A PARTICULAR <br />PURPOSE; OR (F) ANY OTHER MATTER WITH RESPECT TO THE PROPERTY. <br />NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, SELLER IS <br />CONVEYING THE PROPERTY TO BUYER "AS IS, WHERE IS", AND WITH ALL <br />FAULTS AND SPECIFICALLY AND EXPRESSLY WITHOUT ANY WARRANTIES, <br />REPRESENTATIONS, OR GUARANTEES, EITHER EXPRESS OR IMPLIED, OF ANY <br />KIND, NATURE, OR TYPE WHATSOEVER FROM OR ON BEHALF OF THE SELLER, <br />EXCEPT FOR THE REPRESENTATIONS, WARRANTIES AND COVENANTS OF SELLER <br />SET FORTH 1N THIS AGREEMENT. <br />16. Notices. The mailing address of the Agency is 20 Civic Center Plaza, M-25, P.O. Box <br />1988, City of Santa Ana 92702, County of Orange, State of California (Fax: 714.647.6736). The <br />mailing address of the Seller is: <br />Steadfast Courtyards, L.P. <br />c/o Steadfast Companies <br />4343 Von Karman Avenue <br />Suite 300 <br />Newport Beach, California 92660 <br />Attention: Ana Marie del Rio, General Counsel <br />Fax: 949.777.8216 <br />17. Exceptions. Agency agrees to accept title to said real property subject to the following <br />exceptions to fee simple absolute title: <br />NONE, except for Development Agreement between Seller and City of Santa Ana dated <br />on or about October 3, 2005 and recorded with the County of Orange. Seller will cause to be <br />delivered to Agency a preliminary title report from the above mentioned title company, and <br />Agency shall not later than five (5) business days after its receipt of said preliminary title report, <br />give notice to Seller of its acceptance or rejection any other exception to fee simple absolute title <br />listed on said preliminary title report. <br />18. Entire Agreement. It is mutually agreed that the parties hereto have herein set forth the <br />whole of their Agreement. Performance of this Agreement by Agency shall lay at rest, each, <br />every, and all issue(s) that were raised or could have been raised in connection with the <br />acquisition of said real property by Agency. <br />7~ <br />3-9 <br />