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r,P ea.... mss. V ruts. Nb,p :M .._.VV t'+ : x u ry r%. + 40 JV
<br />be perfortared to the standard of M,;tt x of the ASTAL Practice E 152'x. For p"gAkm% of thin Aptecment
<br />' WaWous `faterials" scull moananyhuar,lous or toxic substance. material or Wastc of am' kind or any other
<br />suhstance tthich is regulated by ant EntirorrnTctrlal Law (as hereinafter deflncd in paragraph 4,H.)
<br />3.13. , In the event that the cne-ironmental site "IcIsment pnn hied for in
<br />do paragraph a„+L conf'tmts the prescnw. or tile reasortlhlo likelihood ias determined by PutAmer) of the
<br />presence, of Hazardous Materials on the Property. f'wchaser, at its snle option, mal, elect to laminate this
<br />Agreernent and nchbapa r% -"it have any furn er obligations under this Agreemem. Should Purchaser elect
<br />not totcttTtimate rhisAVT==, Seller shall, at Itis sole cost and expense and prior to the exercise of the option
<br />and ulming, pnvmptlycmrimm= and diligentlyptuxuc any assessment. clean up and monilormg of the Properly
<br />r necessary to bring the Property into full compliance with any and all applicable federal, state or local laws,
<br />statutes. oral manew. rules, regulations or other governmental restrictions regulating, relating to. or imposing
<br />liability or standatds of conducI concoming Ilazardous NWon als ("Environmental Lau" ). Hou'evLT. should
<br />the estimated cohl ofclean up offlazardoua Materials exceed a sum which is equal to S°s of the Total Purchase
<br />Price as stated in paragraph .A , Seller may elect to terminate this Aivecm=I and no party shall lett any
<br />fiut}terohiigatl'om undcr this Agreement. lit the event tint Ki?m ows, Rfatcrials plated urn tine Propertylrtior
<br />to closing are dirm=d after closing. Seller shall remain obligated hereunder, Rith such obligation to auto ivc
<br />the closing and delivery and recording of tho deed described in paragraph S. of this :agreement and Purchaser's
<br />Possession of the Property, to diligently pursue and accomplish the clean up of Hazardous Matcriafs in a
<br />manner consistent with all applicable Environmental Latvs and at. Sellers sole cost and expense.
<br />Further, in the event that neither party elects Io terminate this Agreement as provided athwo. Sella shall
<br />indemnify and save harmless and defend Purchaser, its offnacrs. servants. agents and employees fiom and
<br />against anyand all claims suits. actions, damages. €iabilitics, etpenddures or eauscs of azI ion of whatsoever
<br />kind arising from Hazardous Niaterials placed on the Properiy prior to ;,losing whether the Hazardous Materials
<br />are discovered prior to or after closing. Seller shall defend, at his sole cost and expense, any legal action.
<br />claimorpnx:L�eding institi2c,d by an} person against Purchaser as a result ofany claim. suit. or cause of i,Iion
<br />for itturies to lady, life, limb or property for which Hazardous Materials placed on flit: Property prior to
<br />closingarc alleged tobc a contributing legal cause Scller shall save Purchaser harmlexs Isom and against all
<br />judgments, orders, decrees, atternev's fees, costs, expenses and liabilities in and about any such claim suit,
<br />investigation ordefense thereof, %sideh tray be entered, incurred or assessed as a result of the Foregoing.
<br />5 5MVEY,. Local Government shall have the existing Carter find .Associaics survey oftbe Property
<br />updated prior to cxerzise of the Option ("Survey"). If the Sures -Moly' any cncroaclument on the Property or
<br />That improvements intended to be located ort the Property encroach on the land of others. the same shall be
<br />treated as a title defect,
<br />6. ?`tT1;E RNSL, N r.. Seller shall obtain ,1 marketable title insurance committrtem. to be tu1loned
<br />by an owner's marketable title insurance policy fALTA Forin 'TS") from a title insura-me company. appnr5vcS
<br />by the Acquiring Agency. insuring marketable title of Local. Go4crmlcnt to the Property in the amount c -f Ilic
<br />Total Purchase Price, The title insurer shall delete the standard exceptions of such polis} referring lo: (a) ail
<br />taxes. (b) Uruezorded rights or claim& of parties in possession, (c) sutvey matters. (d) unrecorded easemcnls or
<br />claims of easements, and (e) unrecorded mechanics' liens.
<br />7 DEFPt.'Tg l:V TI77 ' If 111e title ito:uranse cumruilmcnt ur Sutl- ubwined pur%uanl to 4tis
<br />Agccment discloses any dcfccts in title tshich are not acceptable to Purchaser. Seller shall, within Sts days
<br />after notice from Purchaser, remove laid defects in title. Scllet agrees to use diligtmt effart to ,:am.t the
<br />defects in title nsithnt the time provided therefore: however Seller shall not be obligated to bring suit to tura
<br />said defects. If Seller is unsuccessful in removing the title defects within said time or ifScller fails to make
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