6. POSSESSION OF THE PREMISES AND RISK OF LOSS. The Premises shall be
delivered to the Buyer at the time of the closing free of all tenants, personal property, and
encumbrances, The risk of loss or damage to the Premises, by fire or other casualty, or
condemnation, prior to the Closing Date is assumed by Seller. [fall or a portion of the Premises
should be destroyed or damaged by fire, other casualty, or taken by eminent domain, Buyer may, at
its option, terminate this Agreement by written notice delivered to the Seller at or prior to the
closing, and both parties shall be discharged from all further obligations or Buyer may accept
assignment of insurance or condemnation proceeds and proceed with purchasing the Premises.
7. FINANCING, This Agreement is not contingent upon the Buyer obtaining financing.
8. REPRESENTATIONS AND WARRANTIES OF SELLER. Seller represents and
warrants to Buyer that the following are true as of the date of this Agreement and will be true as
of the Closing:
(a) The Premises are not the subject of any existing cease and desist orders,
enforcement actions, or any federal, state of local code enforcement violations.
(b) There are no unrecorded outstanding pending or threatened liens, claims, rights of
first refusal, licenses, or encumbrances against or affecting the Premises, which
have not been disclosed to Buyer in this Agreement.
(c) There are no outstanding claims, losses or demands against Seller by any person,
entity, or governmental unit respecting Seller’s ownership, use, or occupancy of
the Premises, which have not been disclosed to Buyer in this Agreement,
including without limitation Mechanic’s Liens.
(d) Seller has no knowledge of any boundary disputes or encroachments affecting the
Premises.
(e) There are no leases of any portion of the Premises.
(f) Seller has no knowledge of any pending or threatened litigation that may
adversely affect the transfer of the Premises hereunder or materially affect the
value of the Premises.
(g) Neither the whole nor any portion of the Premises has been condemned,
requisitioned, or otherwise taken by any public authority and no notice of any
such condemnation, requisition or taking has been received by the Seller and no
such condemnation, requisition or taking is threatened.
(h) Seller has not knowingly released into the environment or discharged, placed or
disposed of any hazardous materials, substances, or waste or knowingly caused
the same to be released into the environment or discharged, placed or disposed of
at, on, or under the Premises. Notwithstanding the foregoing, the Seller cannot
represent to Buyer that there are no hazardous waste issues as a result of the
