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<br />Property, or compliance with applicable statutes, laws, codes, ordinances, regulations,
<br />requirements (collectively "Condition of the Property"). Buyer acknowledges that it is
<br />entering into this Agreement on the basis of Buyer's own independent investigation of
<br />the physical and environmental conditions of the Property. Buyer assumes the risk that
<br />adverse physical and environmental conditions may not have been revealed by its
<br />investigation.
<br />B. FROM AND AFTER CLOSING, BUYER WILL RELEASE SELLER, ITS
<br />AFFILIATES, THEIR EMPLOYEES, AGENTS, OFFICERS, SUCCESSORS AND
<br />ASSIGNS, FROM AND AGAINST ANY AND ALL SUITS, ACTIONS, CAUSES
<br />OF ACTION, LEGAL OR ADMINISTRATIVE PROCEEDINGS, CLAIMS,
<br />DEMANDS, FINES, PUNITIVE DAMAGES, LOSSES, COSTS, LIABILITIES
<br />AND EXPENSES, INCLUDING ATTORNEYS' FEES, IN ANY WAY ARISING
<br />OUT OF OR CONNECTED WITH THE KNOWN OR UNKNOWN CONDITION
<br />OF THE PROPERTY (INCLUDING, WITHOUT LIMITATION, ANY
<br />CONTAMINATION IN, ON, UNDER OR ADJACENT TO THE PROPERTY BY
<br />ANY HAZARDOUS OR TOXIC SUBSTANCE OR MATERIAL), OR ANY
<br />FEDERAL, STATE OR LOCAL LAW, ORDINANCE, RULE OR REGULATION
<br />APPLICABLE THERETO, INCLUDING, WITHOUT LIMITATION, THE
<br />TOXIC SUBSTANCES CONTROL ACT, THE COMPREHENSIVE
<br />ENVIRONMENTAL RESPONSE, COMPENSATION AND LIABILITY ACT,
<br />AND THE RESOURCE CONSERVATION AND RECOVERY ACT. THE
<br />FOREGOING WILL APPLY REGARDLESS OF ANY NEGLIGENCE OR
<br />STRICT LIABILITY OF SELLER, ITS AFFILIATES, OR THEIR EMPLOYEES,
<br />AGENTS OR OFFICERS.
<br />C. The provisions of this Article 4 will survive the delivery of the deed and will bind and
<br />inure to the benefit of the parties hereto, their heirs, successors and assigns.
<br />Article 5. Escrow, Title Insurance and Abstract of Title:
<br />A. Seller will not furnish title insurance or an abstract of title to the Property. Buyer may, at
<br />its sole option and expense, obtain a preliminary title report ( "PTR ") in order to review
<br />the status of title to the Property during the Feasibility Review Period. If Buyer obtains a
<br />PTR, a copy will be delivered to Seller. Seller has no obligation to cure any title defects
<br />or to assist Buyer in obtaining title insurance.
<br />B. If Buyer desires title insurance, Buyer shall pay the cost of any title insurance and any
<br />endorsements or changes to the title policy desired by Buyer. If an escrow is used, Buyer
<br />shall pay any and all fees relating to the escrow, including, but not limited to, any City
<br />and /or County Transfer Taxes and recording fees.
<br />Article 6. Form of Deed; Reservations:
<br />A. At Closing, Seller will transfer Seller's interest in the Property to Buyer by Special
<br />Warranty Deed, subject to all outstanding rights, whether or not of record.
<br />B. Seller will reserve from the conveyance the following:
<br />(1) All minerals and mineral rights without right of surface entry.
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