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(4) water, sewer or other utility districts; (5) access to any public or private sanitary sewer
<br /> system; or (6) the presence of any hazardous substances on or under the Purchased Parcel.
<br /> Without limiting the generality of the foregoing, but subject to the representations set forth in
<br /> Section 8, Seller shall have no liability to Buyer with respect to the condition of the Purchased
<br /> Parcel under common law, or any federal, state, or local law or regulation, including but not
<br /> limited to the Comprehensive Environmental Response, Compensation and Liability Act of 1980
<br /> as amended, 42 U.S.C.A. §9601 et seq., or any similar state statutes in Arizona, including but not
<br /> limited to the Arizona State Superfund Act, as codified in A.R.S. §49-281 through 287, and
<br /> Buyer hereby waives any and all claims which the Buyer has or may have against the Seller with
<br /> respect to the condition of the Purchased Parcel (except claims for a breach of Seller's
<br /> representations and warranties set forth in Section 8), including any private causes of action
<br /> arising under the foregoing statutes concerning the Purchased Parcel and any conditions in the
<br /> Purchased Parcel.
<br /> (B) Buyer's failure to terminate this Agreement during the Examination Period
<br /> shall act as an acknowledgment by Buyer that: (i) during the Examination Period Buyer has had
<br /> the opportunity to review the Purchased Parcel to determine if the Purchased Parcel is in
<br /> violation of any federal, state or local environmental law, rule or regulation or otherwise contains
<br /> levels or concentrations of"hazardous substances", "hazardous materials", "toxic substances" or
<br /> "hazardous waste", as such terms are defined in the Comprehensive Environmental Response,
<br /> Compensation and Liability Act of 1980, as amended 42 U.S.C. §9601 et seq., the Hazardous
<br /> Materials Transportation Act 49 U.S.C. §1801 et seq., the Resource Conservation and Recovery
<br /> Act of 1976, 42 U.S.C. §6901 et seq., or the Toxic Substances Control Act, as amended, 15
<br /> U.S.C. §2601 et seq., or analogous provisions of state law; (ii) Buyer is purchasing the Purchased
<br /> Parcel "as is" in its present condition, subject only to the representations and warranties
<br /> contained in this Agreement; and (iii) Buyer has fully inspected the Purchased Parcel and
<br /> assumes the responsibility and risks of all defects and conditions, including such defects and
<br /> conditions, if any, that cannot be observed by casual inspection.
<br /> (C) By closing the transaction hereunder, Buyer agrees that (i) Buyer shall be
<br /> deemed to have accepted all risks associated with adverse physical characteristics and existing
<br /> environmental conditions that may or may not have been revealed by the Buyer's investigation
<br /> of the Purchased Parcel, (ii) as between the Buyer and the Seller, Buyer shall be deemed to have
<br /> accepted all costs and liability associated in any way with the physical and environmental
<br /> condition of the Purchased Parcel, and (iii) the Buyer hereby waives any and all objections,
<br /> setoffs, claims, or causes of action (whether under a statute or common law) concerning the
<br /> physical characteristics and existing conditions of the Purchased Parcel, including, without
<br /> limitation, any environmental hazards.
<br /> (D) Notwithstanding the foregoing disclaimers, waivers and releases, nothing
<br /> in this Section 9 shall be deemed to relieve Seller of any liability to Buyer for release of
<br /> hazardous materials or other environmental contamination on the Purchased Parcel caused by
<br /> Seller or Seller's officers, directors, shareholders, employees, agents, contractors, or invitees; nor
<br /> shall this Section be deemed to release Seller from liability for breach of any express
<br /> representations or warranties contained in this Agreement.
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