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I I I ARTICLE 5 "AS IS. WHERE IS" Section 5.1 GENERAL. PURCHASER HEREBY EXPRESSLY ACKNOWLEDGES THAT IT HAS THOROUGHLY INSPECTED AND EXAMINED THE PROPERTY TO THE EXTENT DEEMED NECESSARY BY THE PURCHASER IN ORDER TO ENABLE THE PURCHASER TO EV ALUA TE THE PURCHASE OF THE PROPERTY. PURCHASER REPRESENTS THAT IT IS A KNOWLEDGEABLE PURCHASER OF LAND SUCH AS THE PROPERTY AND THAT IT IS RELYING SOLELY ON ITS OWN EXPERTISE AND THAT OF PURCHASER'S CONSULTANTS, AND THAT PURCHASER WilL CONDUCT SUCH INSPECTIONS AND INVESTIGATIONS OF THE PROPERTY, INCLUDING, BUT NOT LIMITED TO, THE PHYSICAL AND ENVIRONMENTAL CONDITIONS THEREOF, AND SHALL RELY UPON SAME, AND, UPON CLOSING, SHALL ACQUIRE THE PROPERTY SUBJECT TO THE RISK OF ANY ADVERSE MATTERS, INCLUDING, BUT NOT LIMITED TO, ADVERSE PHYSICAL AND ENVIRONMENTAL CONDITIONS, THA T MAY NOT HAVE BEEN REVEALED BY PURCHASER'S INSPECTIONS AND INVESTIGATIONS. PURCHASER HAS NOT RELIED UPON AND WILL NOT RELY UPON, EITHER DIRECTLY OR INDIRECTLY, ANY REPRESENTATION OR WARRANTY OF SELLER OR ANY AGENT OF SELLER EXCEPT AS OTHERWISE EXPRESSLY PROVIDED HEREIN. PURCHASER FURTHER ACKNOWLEDGES AND AGREES THAT PURCHASER IS ACQUIRING THE PROPERTY ON AN AS IS, WHERE IS AND -WITH ALL FAULTS BASIS, WITHOUT REPRESENTATIONS, WARRANTIES OR COVENANTS, EXPRESS OR IMPLIED, OF ANY KIND OR NA TURB. PURCHASER HEREBY ACQUIRES THE PROPERTY SUBJECT TO ALL RISK, AND AGREES THAT SELLER SHALL NOT BE LIABLE TO PURCHASER OR ITS PRINCIPALS, AGENTS, CONTRACTORS, EMPLOYEES, SUCCESSORS, OR ASSIGNS FOR ANY SPECIAL, DIRECT, INDIRECT, CONSEQUENTIAL OR OTHER DAMAGES, RESULTING OR ARISING FROM OR RELATING TO THE OWNERSHIP, USE, CONDITION, LOCATION, MAINTENANCE, REPAIR. OR OPERATION OF THE PROPERTY. PURCHASER ACKNOWLEDGES AND AGREES THAT THE PROVISIONS OF THIS ARTICLE 5 WERE A MATERIAL FACTOR IN THE DETERMINATION OF THE PURCHASE PRICE OF THE PROPERTY. Section 5.2. EXCLUDED TERMS. NOTWITHSTANDING ANY SEEMING CONTRADICTION, IT IS AGREED AND UNDERSTOOD (1) THAT THE PROVISIONS OF THIS ARTICLE 5 ARE LIMITED SO AS TO NOT BE CONSTRUED AS DIMINISHING OR NEGATING ANY WARRANTY OF TITLE SET FORTH IN THE DEED TO BE DELIVERED BY SELLER TO PURCHASER AT CLOSING OR ANY WARRANTIES, REPRESENTATIONS, AND OTHER PROVISIONS SET FORTH IN THIS CONTRACT THAT EXPRESSLY SURVIVE THE CLOSING, AND (2) THAT PURCHASER DOES NOT AND SHALL NOT ASSUME OR BEAR RESPONSffiILITY FOR ANY LIABll..ITIES OF SELLER OR PRIOR OWNERS OR OCCUPANTS OF THE PROPERTY WITH RESPECT TO OR ARISING IN CONNECTION WITH THE PROPERTY. -5-