Res 2006-014 - Laserfiche WebLink

Home Browse Search

I I I Section 5.3. SURVNE CLOSING. IT IS AGREED AND UNDERSTOOD THAT THE TERMS AND PROVISIONS OF THIS ARTICLE 5 SHALL EXPRESSLY SURVIVE THE CLOSING AND NOT MERGE THEREIN. Section S.4. Seller Reoresentations. Seller represents and warrants to Purchaser the following, which representations and warranties shall not merge with the Deed to be delivered hereunder but shall survive the Closing: (a) There are no parties in possession of any portion of the Property as lessees, tenants at sufferance or trespassers, and the Property is not now subject to any written or oral lease, license, permit, option, right of first refusal, agreement of sale, claim or legal proceeding except as set forth herein. (b) Seller is the sole legal owner of the Property and has full power and authority to enter into this Contract and to perform its obligations under this Contract. (c) Hazardous Substances. To the best of Seller's knowledge, which the parties agree does not obligate Seller to independently conduct an investigation or inspection of the Property for purposes of the representations and warranties set forth in this Section 5.4(c): (i) There is no and has been no condition at, on, under or related to the Property presently or potentially posing a significant hazard to human health or the environment, whether or not in compliance with law; (ii) There is no and has been no production, use, treatment, storage, transportation, or disposal of any Hazardous Substance (as defined below) on the Property; (iii) There is no and has been no release or threatened release of any Hazardous Substance, pollutant or contaminant into, upon, or over the Property or into or upon ground or surface water at the Property or within the immediate vicinity of the Property; (iv) There is not now and has never been any Hazardous Substance stored on the Property in underground tanks, pits, or ponds; (v) The Property is not subject to any "superfund" or similar lien or any ___ __c:l~~_by 8!ly government regulatory agency or third party related to the release or threatened releaSe o-laDY Hazardous Substance. The term "Hazardous Substance(s)" means any substance that is defined as a hazardous substance, hazardous material, hazardous waste, petroleum product, pollutant or contaminant under any environmental law, including but not limited to the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended, 42 V.S.C. ~ 9601 et. seq., the Resource Conservation and Recovery Act, as amended, 42 V.S.C. ~ 6901 et. seq., the Clean Water Act, 42 U.S.C. -6-