Res 2017-044/Wildenthal Executed

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C. City acknowledges that City has had a full and fair opportunity to inspect the Property and any structures or improvements on the Property and to perform any tests or analyses desired by City to satisfy City as to the condition of the Property. Except as to conditions violating applicable state and federal laws of which TPL has actual knowledge, but fails to disclose to City, City agrees to accept the Property including any structures or improvements, "as is, where is," subject to all faults of every kind and nature whatsoever, whether latent or patent and whether now or hereafter existing and subject to any violations of any law or ordinance existing on the date of closing, including without limitation those relating to the environmental condition of the Property. Except as to matters of which TPL has actual knowledge, but has failed to disclose to City, City waives any and all objections to or claims or causes of action against TPL including, but not limited to federal, state or common law actions and any private right of action under state and federal law to which the Property is or may be subject (including, but not limited to CERCLA and RCRA) regarding the physical characteristics and existing structural, geologic, subsurface, soil, water and environmental conditions on, under, adjacent to or otherwise affecting the Property. City further acknowledges that as a condition of Current Owner's sale of the Property that Current Owner requires that Seller and its successors and assigns release Current Owner of and from any and all responsibility, liability, obligations and claims of any kind and nature, known or unknown, that Seller or its successors and assigns may have against Current Owner or that may arise in the future, based in whole or in part, upon the Property conditions and/or the presence of environmental contamination on or within or under the surface of the Property, including, without limitation, all responsibility, liability, obligations, and claims that may arise under any local, state or federal law to which the Property is or may be subject. Buyer acknowledges that the provisions of this Section 2 shall survive the Closing. 3. Closing. Final settlement of the obligations of the parties hereto shall occur on or before March 22, 2017, at such date, place and time as the parties shall agree (the "Closing"); provided, however, TPL may at its option elect to extend the Closing if the contingency set forth in Section 27 have not been met by said date. This transaction shall be closed in escrow with Presidio Title, 7373 Broadway, Suite 105, San Antonio, Texas 78209 (the "Escrow Holder"). The transaction contemplated hereunder shall be closed by Escrow Holder in accordance with the general provisions of the usual form of deed and money escrow agreement then in use by Escrow Holder, with such additional special provisions inserted in said escrow agreement as may be required to conform with the terms and conditions of this Agreement. 4. Title. TPL shall by special warranty deed convey to City its interest in the Property, subject only to the following: (i) any federal, state or local laws, ordinances, regulations and/or orders whatsoever; Agnnt of Sale City of San Marcos_Wildenthal Phase 2 (3-46-17).doc 4