Condition of the Property. Tenant acknowledges receipt and delivery of possession of the Property and that Tenant has examined and otherwise has knowledge of the condition of the Property prior to the execution and delivery of this Lease and has found the same to be in good order and repair and satisfactory for its purposes hereunder. Regardless, however of any inspection made by Tenant of the Property and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Property "as is" in its present condition. Tenant waives and releases any claim or cause of action against Landlord with respect to the condition of the Property including any defects or adverse conditions latent or patent, matured or unmatured, known or unknown by Tenant or Landlord as of the date hereof. TENANT ACKNOWLEDGES THAT LANDLORD (WHETHER ACTING AS LANDLORD HEREUNDER OR IN ANY OTHER CAPACITY) HAS NOT MADE AND WILL NOT MAKE, NOR SHALL LANDLORD BE DEEMED TO HAVE MADE, ANY WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, INCLUDING ANY WARRANTY OR REPRESENTATION AS TO (i) ITS FITNESS, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE, (ii) THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, (iii) THE EXISTENCE OF ANY DEFECT, LATENT OR PATENT, (iv) LANDLORD'S TITLE THERETO, (v) VALUE, (vi) COMPLIANCE WITH SPECIFICATIONS, (vii) LOCATION, (viii) USE, (ix) CONDITION,
Appears in 3 contracts
Sources: Lease (Golf Trust of America Inc), Lease (Golf Trust of America Inc), Lease (Golf Trust of America Inc)
Condition of the Property. Tenant acknowledges Tenant's occupancy of the Suite upon the Completion Date shall constitute Tenant's acknowledgement of receipt and delivery of possession of the Property Suite and that Tenant has examined and otherwise has acquired knowledge of the condition of the Property and Suite prior to the execution and delivery occupancy of this Lease the Suite and has found the same to be in good order and repair and satisfactory for its purposes hereunderall purposes. Regardless, however of any inspection made by Such occupancy shall constitute Tenant's further acknowledgement (a) that Tenant of has examined or has had an opportunity to examine title to the Property and whether or not any patent or latent defect or has found the same to be satisfactory for all purposes and accepts such condition was revealed or discovered thereby, of title; (b) that Tenant is leasing the Property "as is" in its present condition. ; (c) that Tenant waives and releases any claim or cause of action against Landlord with in respect to of the condition of the Property including any defects or adverse conditions latent or patent, matured or unmatured, known or unknown by Tenant or Landlord as of the date hereofSuite. TENANT ACKNOWLEDGES THAT LANDLORD (WHETHER ACTING AS LANDLORD HEREUNDER OR IN ANY OTHER CAPACITY) HAS NOT MADE AND WILL NOT MAKE, NOR SHALL LANDLORD BE DEEMED TO HAVE MADE, ANY MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IN RESPECT OF THE PROPERTY OR ANY PART THEREOF, EITHER AS TO ITS FITNESS FOR USE, SUITABILITY, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE OR OTHERWISE, AS TO QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, LATENT OR PATENT, IT BEING AGREED THAT ALL SUCH RISKS ARE TO BE BORNE BY TENANT. LANDLORD HEREBY DISCLAIMS ANY AND ALL EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE RELATIVE TO THE PROPERTY OR ANY COMPONENT PART THEREOF. Tenant represents that the officers of Tenant are knowledgeable and experienced in the leasing of properties comparable to the Suite and agrees that Tenant will be relying solely on Tenant's inspections of the Suite in leasing the Property. THE PROVISIONS OF THIS PARAGRAPH HAVE BEEN NEGOTIATED AND ARE INTENDED TO BE A COMPLETE EXCLUSION AND NEGATION BY LANDLORD OF, AND LANDLORD DOES HEREBY DISCLAIM, ANY AND ALL WARRANTIES BY LANDLORD, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTYSUITE OR ANY PORTION THEREOF, INCLUDING WHETHER ARISING PURSUANT TO THE UNIFORM COMMERCIAL CODE OR ANY WARRANTY OTHER LAW NOW OR REPRESENTATION AS TO (i) ITS FITNESSHEREAFTER IN EFFECT OR OTHERWISE, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSEAND TENANT HEREBY ACKNOWLEDGES AND ACCEPTS SUCH EXCLUSION, (ii) THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, (iii) THE EXISTENCE OF ANY DEFECT, LATENT OR PATENT, (iv) LANDLORD'S TITLE THERETO, (v) VALUE, (vi) COMPLIANCE WITH SPECIFICATIONS, (vii) LOCATION, (viii) USE, (ix) CONDITION,NEGATION AND DISCLAIMER.
Appears in 3 contracts
Sources: Lease Agreement (Windrose Medical Properties Trust), Lease Agreement (Windrose Medical Properties Trust), Lease Agreement (Windrose Medical Properties Trust)
Condition of the Property. Tenant acknowledges receipt and delivery of possession of the Property and that Tenant has examined and otherwise has knowledge of the condition of the Property prior to the execution and delivery of this Lease and has found the same to be in good order and repair and satisfactory for its purposes hereunder. Regardless, however of any inspection made by Tenant of the Property and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Property "as is" in its present condition. Tenant waives and releases any claim or cause of action against Landlord with respect to the condition of the Property including any defects or adverse conditions latent or patent, matured or unmatured, known or unknown by Tenant or Landlord as of the date hereof. TENANT ACKNOWLEDGES THAT LANDLORD (WHETHER ACTING AS LANDLORD HEREUNDER OR IN ANY OTHER CAPACITY) HAS NOT MADE AND WILL NOT MAKE, NOR SHALL LANDLORD BE DEEMED TO HAVE MADE, ANY WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, INCLUDING ANY WARRANTY OR REPRESENTATION AS TO (i) ITS FITNESS, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE, (ii) THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, (iii) THE EXISTENCE OF ANY DEFECT, LATENT OR PATENT, (iv) LANDLORD'S TITLE THERETO, (v) VALUE, (vi) COMPLIANCE WITH SPECIFICATIONS, (vii) LOCATION, (viii) USE, (ix) CONDITION,, (x) MERCHANTABILITY, (xi) QUALITY, (xii) DESCRIPTION, (xiii) DURABILITY, (xiv) OPERATION, (xv) THE EXISTENCE OF ANY HAZARDOUS MATERIAL OR (xvi) COMPLIANCE OF THE PROPERTY WITH ANY LAW (INCLUDING ENVIRONMENTAL LAWS) OR LEGAL REQUIREMENTS. TENANT ACKNOWLEDGES THAT THE PROPERTY IS OF ITS SELECTION AND TO ITS SPECIFICATIONS AND THAT THE PROPERTY HAS BEEN INSPECTED BY TENANT AND IS SATISFACTORY TO IT. IN THE EVENT OF ANY DEFECT OR DEFICIENCY IN THE PROPERTY OF ANY NATURE, WHETHER LATENT OR PATENT, AS BETWEEN LANDLORD AND TENANT, LANDLORD SHALL NOT HAVE ANY RESPONSIBILITY OR LIABILITY WITH RESPECT THERETO OR FOR ANY INCIDENTAL OR CONSEQUENTIAL DAMAGES (INCLUDING STRICT LIABILITY IN TORT). THE PROVISIONS OF THIS SECTION 7.2 HAVE BEEN NEGOTIATED AND REVIEWED BY TENANT'S LEGAL COUNSEL, AND ARE INTENDED TO BE A COMPLETE EXCLUSION AND NEGATION OF ANY WARRANTIES BY LANDLORD, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, ARISING PURSUANT TO THE UNIFORM COMMERCIAL CODE OR ANY OTHER LAW NOW OR HEREAFTER IN EFFECT OR ARISING OTHERWISE. Tenant represents to Landlord that Tenant has examined the title to the Property prior to the execution and delivery of this Lease and has found the same to be satisfactory for the purposes contemplated hereby. Tenant acknowledges that (A) Tenant or an Affiliate of Tenant has previously operated the Property and has knowledge of its condition which is superior to that of Landlord, (B) fee simple title, except where the Property is held under a ground lease, (both legal and equitable) is in Landlord and that Tenant has only the leasehold right of possession and use of the Property as provided herein, (C) to Tenant's knowledge the Improvements conform to all material Legal Requirements and all material Insurance Requirements, (D) all easements necessary or appropriate for the use or operation of the Property have been obtained, (E) all contractors and subcontractors retained by Tenant who have performed work on or supplied materials to the Property have been fully paid, and all materials to the Property have been fully paid for, (F) the Improvements constructed by Tenant or any Affiliate of Tenant have been completed in all material respects in a workmanlike manner of first class quality, and (G) all equipment necessary or appropriate for the use or operation of the Property has been installed and is presently operative in all material respects.
Appears in 3 contracts
Sources: Lease (Golf Trust of America Inc), Lease (Golf Trust of America Inc), Contribution and Leaseback Agreement (Golf Trust of America Inc)
Condition of the Property. Tenant ▇▇▇▇▇▇ acknowledges receipt and delivery of possession of the Property and that Tenant ▇▇▇▇▇▇ has examined and otherwise has knowledge of the condition of the Property prior to the execution and delivery of this Lease and has found the same to be in good order and repair and satisfactory for its purposes hereunder. Regardless, however of any inspection made by Tenant of the Property and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Property "as is" in its present condition. Tenant waives and releases any claim or cause of action against Landlord with respect to the condition of the Property including any defects or adverse conditions latent or patent, matured or unmatured, known or unknown by Tenant or Landlord as of the date hereof. TENANT ACKNOWLEDGES THAT LANDLORD (WHETHER ACTING AS LANDLORD HEREUNDER OR IN ANY OTHER CAPACITY) HAS NOT MADE AND WILL NOT MAKE, NOR SHALL LANDLORD BE DEEMED TO HAVE MADE, ANY WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, INCLUDING ANY WARRANTY OR REPRESENTATION AS TO (i) ITS FITNESS, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE, (ii) THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, (iii) THE EXISTENCE OF ANY DEFECT, LATENT OR PATENT, (iv) LANDLORD'S TITLE THERETO, (v) VALUE, (vi) COMPLIANCE WITH SPECIFICATIONS, (vii) LOCATION, (viii) USE, (ix) CONDITION,
Appears in 1 contract
Sources: Lease (Golf Trust of America Inc)
Condition of the Property. Tenant acknowledges receipt and delivery of possession Subject to the approval or waiver of the Property ------------------------- Contingencies (as defined in Section 4), Buyer's Closing Conditions (as defined --------- in Section 5.1), Seller's obligation to perform the Seller Grading Work in ----------- accordance with Paragraph 1.3(b), and that Tenant has examined Seller's representations and otherwise has knowledge of the condition of the Property prior to the execution and delivery of this Lease and has found the same to be warranties set forth in good order and repair and satisfactory for its purposes hereunder. Regardless, however of any inspection made by Tenant of the Property and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Property "as is" in its present condition. Tenant waives and releases any claim or cause of action against Landlord Section 8.1 with respect to the condition of the Property, and as ----------- a material inducement to Seller's execution and delivery of this Agreement and performance of its duties hereunder, Buyer agrees, represents and warrants, that it will purchase the Property "AS IS" and solely in reliance on its own investigation of the Property. Buyer agrees, represents and warrants, that it has conducted (or will conduct to the extent it deems appropriate) an investigation and determine to its satisfaction each and every matter of concern or relevance relating to the Property, including any defects without limitation the financial, legal title, physical and environmental condition of the Property, soils, settlement or subsidence conditions, applicable governmental laws and regulations, zoning, building codes, access, the transportation management program referred to in Section 7, the special tax referred to in Section 12.20, --------- ------------- and land use laws and regulations and the extent to which the Property complies therewith, and the fitness of the Property for Buyer's contemplated use, the presence of Hazardous Material (as defined in Section 12.1(b)) on the Property --------------- and, in general, its environmental condition and title matters (collectively, the "Condition of the Property"). Subject to the other -------------------------- provisions of this Agreement, Buyer agrees, represents and warrants that (i) it will purchase the Property subject to each and every Condition of the Property, including adverse conditions latent that may not have been revealed by its investigation of the Property, (ii) Seller has no obligation to repair, correct or patentcompensate Buyer for any Condition of the Property, matured and (iii) by acquiring the Property, Buyer shall be deemed to have waived any and all objections to the Condition of the Property, whether or unmaturednot any Condition of the Property would have been disclosed by inspection. Seller shall, known or unknown by Tenant or Landlord from the date of this Agreement to the Closing Date, at Seller's sole cost and expense, maintain the Property in good order, condition and repair so that, as of the Close of Escrow, there shall be no material adverse change in the condition of the Property from the condition that exists as of the date hereof. TENANT ACKNOWLEDGES THAT LANDLORD (WHETHER ACTING AS LANDLORD HEREUNDER OR IN ANY OTHER CAPACITY) HAS NOT MADE AND WILL NOT MAKEof this Agreement, NOR SHALL LANDLORD BE DEEMED TO HAVE MADE, ANY WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, INCLUDING ANY WARRANTY OR REPRESENTATION AS TO (i) ITS FITNESS, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE, (ii) THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, (iii) THE EXISTENCE OF ANY DEFECT, LATENT OR PATENT, (iv) LANDLORD'S TITLE THERETO, (v) VALUE, (vi) COMPLIANCE WITH SPECIFICATIONS, (vii) LOCATION, (viii) USE, (ix) CONDITION,except as specifically provided herein.
Appears in 1 contract
Sources: Purchase and Sale Agreement (Wells Real Estate Investment Trust Inc)
Condition of the Property. Tenant acknowledges receipt and delivery of possession of the Property and that Tenant has examined and otherwise has knowledge of the condition of the Property prior to the execution and delivery of this Lease and has found the same to be in good order and repair and satisfactory for its purposes hereunder. Regardless, however of any inspection made by Tenant of the Property and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Property "as is" in its present condition. Tenant waives and releases any claim or cause of action against Landlord with respect to the condition of the Property including any defects or adverse conditions latent or patent, matured or unmatured, known or unknown by Tenant or Landlord as of the date hereof. TENANT ACKNOWLEDGES THAT LANDLORD (WHETHER ACTING AS LANDLORD HEREUNDER OR IN ANY OTHER CAPACITY) HAS NOT MADE AND WILL NOT MAKE, NOR SHALL LANDLORD BE DEEMED TO HAVE MADE, ANY WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, INCLUDING ANY WARRANTY OR REPRESENTATION AS TO (i) ITS FITNESS, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE, (ii) THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, (iii) THE EXISTENCE OF ANY DEFECT, LATENT OR PATENT, (iv) LANDLORD'S TITLE THERETO, (v) VALUE, (vi) COMPLIANCE WITH SPECIFICATIONS, (vii) LOCATION, (viii) USE, (ix) CONDITION,, (x) MERCHANTABILITY, (xi) QUALITY, (xii) DESCRIPTION, (xiii) DURABILITY, (xiv) OPERATION, (xv) THE EXISTENCE OF ANY MATERIAL OR (xvi) COMPLIANCE OF THE PROPERTY WITH ANY LAW (INCLUDING ENVIRONMENTAL LAWS) OR LEGAL REQUIREMENTS. TENANT ACKNOWLEDGES THAT THE PROPERTY IS OF ITS SELECTION AND TO ITS SPECIFICATIONS AND THAT THE PROPERTY HAS BEEN INSPECTED BY TENANT AND IS SATISFACTORY TO IT. IN THE EVENT OF ANY DEFECT OR DEFICIENCY IN THE PROPERTY OF ANY NATURE, WHETHER LATENT OR PATENT, AS BETWEEN LANDLORD AND TENANT, LANDLORD SHALL NOT HAVE ANY RESPONSIBILITY OR LIABILITY WITH RESPECT THERETO OR FOR ANY INCIDENTAL OR CONSEQUENTIAL DAMAGES (INCLUDING STRICT LIABILITY IN TORT). THE PROVISIONS OF THIS SECTION 7.2 HAVE BEEN NEGOTIATED AND REVIEWED BY TENANT'S LEGAL COUNSEL, AND ARE INTENDED TO BE A COMPLETE EXCLUSION AND NEGATION OF ANY WARRANTIES BY LANDLORD, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, ARISING PURSUANT TO THE UNIFORM COMMERCIAL CODE OR ANY OTHER LAW NOW OR HEREAFTER IN EFFECT OR ARISING OTHERWISE. Tenant represents to Landlord that Tenant has examined the title to the Property prior to the execution and delivery of this Lease and has found the same to be satisfactory for the purposes contemplated hereby. Tenant acknowledges that (A) Tenant or an Affiliate of Tenant has previously operated the Property and has knowledge of its condition which is superior to that of Landlord, (B) fee simple title, except where the Property is held under a ground lease, (both legal and equitable) is in Landlord and that Tenant has only the leasehold right of possession and use of the Property as provided herein, (C) to Tenant's knowledge the Improvements conform to all material Legal Requirements and all material Insurance Requirements, (D) all easements necessary or appropriate for the use or operation of the Property have been obtained,(E) all contractors and subcontractors retained by Tenant who have performed work on or supplied materials to the Property have been fully paid, and all materials to the Property have been fully paid for, (F) the Improvements constructed by Tenant or any Affiliate of Tenant have been completed in all material respects in a workmanlike manner of first class quality, and (G) all equipment necessary or appropriate for the use or operation of the Property has been installed and is presently operative in all material respects.
Appears in 1 contract
Sources: Lease (Golf Trust of America Inc)
Condition of the Property. Tenant acknowledges receipt and delivery of possession of the Property and that Tenant has examined and otherwise has knowledge of the condition of the Property prior to the execution and delivery of this Lease and has found the same to be in good order and repair and satisfactory for its purposes hereunder. Regardless, however of any inspection made by Tenant of the Property and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Property "as is" in its present condition. Tenant waives and releases any claim or cause of action against Landlord with respect to the condition of the Property including any defects or adverse conditions latent or patent, matured or unmatured, known or unknown by Tenant or Landlord as of the date hereof. TENANT ACKNOWLEDGES THAT LANDLORD (WHETHER ACTING AS LANDLORD HEREUNDER OR IN ANY OTHER CAPACITY) HAS NOT MADE AND WILL NOT MAKE, NOR SHALL LANDLORD BE DEEMED TO HAVE MADE, ANY WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, INCLUDING ANY WARRANTY OR REPRESENTATION AS TO (i) ITS FITNESS, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE, (ii) THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, (iii) THE EXISTENCE OF ANY DEFECT, LATENT OR PATENT, (iv) LANDLORD'S TITLE THERETO, (v) VALUE, (vi) COMPLIANCE WITH SPECIFICATIONS, (vii) LOCATION, (viii) USE, (ix) CONDITION,, (x) MERCHANTABILITY, (xi) QUALITY, (xii) DESCRIPTION, (xiii) DURABILITY, (xiv) OPERATION, (xv) THE EXISTENCE OF ANY MATERIAL OR (xvi) COMPLIANCE OF THE PROPERTY WITH ANY LAW (INCLUDING ENVIRONMENTAL LAWS) OR LEGAL REQUIREMENTS. TENANT ACKNOWLEDGES THAT THE PROPERTY IS OF ITS SELECTION AND TO ITS SPECIFICATIONS AND THAT THE PROPERTY HAS BEEN INSPECTED BY TENANT AND IS SATISFACTORY TO IT. IN THE EVENT OF ANY DEFECT OR DEFICIENCY IN THE PROPERTY OF ANY NATURE, WHETHER LATENT OR PATENT, AS BETWEEN LANDLORD AND TENANT, LANDLORD SHALL NOT HAVE ANY RESPONSIBILITY OR LIABILITY WITH RESPECT THERETO OR FOR ANY INCIDENTAL OR CONSEQUENTIAL DAMAGES (INCLUDING STRICT LIABILITY IN TORT). THE PROVISIONS OF THIS SECTION 7.2 HAVE BEEN NEGOTIATED AND REVIEWED BY TENANT'S LEGAL COUNSEL, AND ARE INTENDED TO BE A COMPLETE EXCLUSION AND NEGATION OF ANY WARRANTIES BY LANDLORD, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, ARISING PURSUANT TO THE UNIFORM COMMERCIAL CODE OR ANY OTHER LAW NOW OR HEREAFTER IN EFFECT OR ARISING OTHERWISE. Tenant represents to Landlord that Tenant has examined the title to the Property prior to the execution and delivery of this Lease and has found the same to be satisfactory for the purposes contemplated hereby. Tenant acknowledges that (A) Tenant or an Affiliate of Tenant has previously operated the Property and has knowledge of its condition which is superior to that of Landlord, (B) fee simple title, except where the Property is held under a ground lease, (both legal and equitable) is in Landlord and that Tenant has only the leasehold right of possession and use of the Property as provided herein, (C) to Tenant's knowledge the Improvements conform to all material Legal Requirements and all material Insurance Requirements, (D) all easements necessary or appropriate for the use or operation of the Property have been obtained, provided, however, that Landlord and Tenant agree to cooperate with each other in the creation of appropriate vehicular and pedestrian access, ingress, egress, utilities and maintenance easements related to the Other Parcels,(E) all contractors and subcontractors retained by Tenant who have performed work on or supplied materials to the Property have been fully paid, and all materials to the Property have been fully paid for, (F) the Improvements constructed by Tenant or any Affiliate of Tenant have been completed in all material respects in a workmanlike manner of first class quality, and (G) all equipment necessary or appropriate for the use or operation of the Property has been installed and is presently operative in all material respects.
Appears in 1 contract
Sources: Lease (Golf Trust of America Inc)
Condition of the Property. Tenant acknowledges receipt and delivery of possession of Except as may be expressly set forth in this Agreement, Buyer is purchasing the Property AS IS, WHERE IS, WITH ALL FAULTS. Except as may be expressly provided in this Agreement, Buyer shall rely solely upon its own review of documents and that Tenant has examined and otherwise has knowledge of the condition of the Property prior to the execution and delivery of this Lease and has found the same to be in good order and repair and satisfactory for its purposes hereunder. Regardless, however of any inspection made by Tenant of the Property and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Property "as is" in its present condition. Tenant waives and releases any claim or cause of action against Landlord inspections with respect regard to the condition of the Property including any defects or adverse conditions latent or patent, matured or unmatured, known or unknown by Tenant or Landlord as and the structural and mechanical systems of the date hereof. TENANT ACKNOWLEDGES THAT LANDLORD (improvements thereon, including, but not limited to, its location, size, subsurface or soil condition, construction and character; and, except as may be expressly set forth in this Agreement, Buyer specifically agrees that it shall purchase and acquire the Property AS IS, WHERE IS, WITH ALL FAULTS WITHOUT ANY REPRESENTATION OR WARRANTY BY SELLER WHATSOEVER, WHETHER ACTING AS LANDLORD HEREUNDER OR IN ANY OTHER CAPACITY) HAS NOT MADE AND WILL NOT MAKE, NOR SHALL LANDLORD BE DEEMED TO HAVE MADE, ANY WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, WITH RESPECT AS TO THE TRUTH OR ACCURACY OF ANY DOCUMENTS SUPPLIED, AS TO THE CONDITION OF THE PROPERTY, INCLUDING ANY WARRANTY OR REPRESENTATION AS TO (i) ITS FITNESS, DESIGN OR CONDITION FITNESS FOR ANY PARTICULAR USE OR PURPOSE, (ii) ALL OF WHICH ARE HEREBY EXPRESSLY DISCLAIMED BY SELLER. EXCEPT AS MAY BE EXPRESSLY SET FORTH IN THIS AGREEMENT, WITHOUT LIMITING THE QUALITY FOREGOING, BUYER DOES HEREBY SPECIFICALLY AFFIRM THAT, AS A RESULT OF THE MATERIAL FOREGOING PROVISIONS, ITS PURCHASE AND ACQUISITION OF THE PROPERTY SHALL BE MADE WITHOUT ANY REPRESENTATION OR WORKMANSHIP THEREINWARRANTY BY SELLER AS TO THE ENVIRONMENTAL CONDITION OF THE PROPERTY (INCLUDING ANY MATTERS RELATING TO SUCH ITEMS AS HAZARDOUS MATERIALS (AS DEFINED IN SECTION 14(a) OF THIS AGREEMENT), (iii) THE EXISTENCE OF WASTE MATERIALS, UNDERGROUND STORAGE TANKS OR AREAS OR ANY DEFECT, LATENT OR PATENT, (iv) LANDLORD'S TITLE THERETO, (v) VALUE, (vi) COMPLIANCE WITH SPECIFICATIONS, (vii) LOCATION, (viii) USE, (ix) CONDITION,OTHER ENVIRONMENTAL MATTER).
Appears in 1 contract
Sources: Purchase and Sale Agreement (KBS Real Estate Investment Trust, Inc.)
Condition of the Property. Tenant acknowledges receipt and delivery of possession of the Property and that Tenant has examined and otherwise has knowledge of the condition of the Property prior to the execution and delivery of this Lease and has found the same to be in good order and repair and satisfactory for its purposes hereunder. Regardless, however of any inspection made by Tenant of the Property and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Property "as is" in its present condition. Tenant waives and releases any claim or cause of action against Landlord with respect to the condition of the Property including any defects or adverse conditions latent or patent, matured or unmatured, known or unknown by Tenant or Landlord as of the date hereof. TENANT ACKNOWLEDGES THAT LANDLORD (WHETHER ACTING AS LANDLORD HEREUNDER OR IN ANY OTHER CAPACITY) HAS NOT MADE AND WILL NOT MAKE, NOR SHALL LANDLORD BE DEEMED TO HAVE MADE, ANY WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, INCLUDING ANY WARRANTY OR REPRESENTATION AS TO (i) ITS FITNESS, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE, (ii) THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, (iii) THE EXISTENCE OF ANY DEFECT, LATENT OR PATENT, (iv) LANDLORD'S TITLE THERETO, (v) VALUE, (vi) COMPLIANCE WITH SPECIFICATIONS, (vii) LOCATION, (viii) USE, (ix) CONDITION,, (x) MERCHANTABILITY, (xi) QUALITY, (xii) DESCRIPTION, (xiii) DURABILITY, (xiv) OPERATION, (xv) THE EXISTENCE OF ANY MATERIAL OR (xvi) COMPLIANCE OF THE PROPERTY WITH ANY LAW (INCLUDING ENVIRONMENTAL LAWS) OR LEGAL REQUIREMENTS. TENANT ACKNOWLEDGES THAT THE PROPERTY IS OF ITS SELECTION AND TO ITS SPECIFICATIONS AND THAT THE PROPERTY HAS BEEN INSPECTED BY TENANT AND IS SATISFACTORY TO IT. IN THE EVENT OF ANY DEFECT OR DEFICIENCY IN THE PROPERTY OF ANY NATURE, WHETHER LATENT OR PATENT, AS BETWEEN LANDLORD AND TENANT, LANDLORD SHALL NOT HAVE ANY RESPONSIBILITY OR LIABILITY WITH RESPECT THERETO OR FOR ANY INCIDENTAL OR CONSEQUENTIAL DAMAGES (INCLUDING STRICT LIABILITY IN TORT). THE PROVISIONS OF THIS SECTION 7.2 HAVE BEEN NEGOTIATED AND REVIEWED BY TENANT'S LEGAL COUNSEL, AND ARE INTENDED TO BE A COMPLETE EXCLUSION AND NEGATION OF ANY WARRANTIES BY LANDLORD, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, ARISING PURSUANT TO THE UNIFORM COMMERCIAL CODE OR ANY OTHER LAW NOW OR HEREAFTER IN EFFECT OR ARISING OTHERWISE. Tenant represents to Landlord that Tenant has examined the title to the Property prior to the execution and delivery of this Lease and has found the same to be satisfactory for the purposes contemplated hereby. Tenant acknowledges that (A) fee simple title, except where the Property is held under a ground lease, (both legal and equitable) is in Landlord and that Tenant has only the leasehold right of possession and use of the Property as provided herein, (B) to Tenant's knowledge the Improvements conform to all material Legal Requirements and all material Insurance Requirements, and (C) all easements necessary or appropriate for the use or operation of the Property have been obtained.
Appears in 1 contract
Sources: Lease (Golf Trust of America Inc)
Condition of the Property. Tenant acknowledges receipt and delivery of possession of the Property and that Tenant has examined and otherwise has knowledge of the condition of the Property prior to the execution and delivery of this Lease and has found the same to be in good order and repair and satisfactory for its purposes hereunder. Regardless, however of any inspection made by Tenant of the Property and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Property "as is" in its present condition. Tenant waives and releases any claim or cause of action against Landlord with respect to the condition of the Property including any defects or adverse conditions latent or patent, matured or unmatured, known or unknown by Tenant or Landlord as of the date hereof. TENANT ACKNOWLEDGES THAT LANDLORD (WHETHER ACTING AS LANDLORD HEREUNDER OR IN ANY OTHER CAPACITY) HAS NOT MADE AND WILL NOT MAKE, NOR SHALL LANDLORD BE DEEMED TO HAVE MADE, ANY WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, INCLUDING ANY WARRANTY OR REPRESENTATION AS TO (i) ITS FITNESS, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE, (ii) THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, (iii) THE EXISTENCE OF ANY DEFECT, LATENT OR PATENT, (iv) LANDLORD'S TITLE THERETO, (v) VALUE, (vi) COMPLIANCE WITH SPECIFICATIONS, (vii) LOCATION, (viii) USE, (ix) CONDITION,, (x) MERCHANTABILITY, (xi) QUALITY, (xii) DESCRIPTION, (xiii) DURABILITY, (xiv) OPERATION, (xv) THE EXISTENCE OF ANY HAZARDOUS MATERIAL OR (xvi) COMPLIANCE OF THE PROPERTY WITH ANY LAW (INCLUDING ENVIRONMENTAL LAWS) OR LEGAL REQUIREMENTS. TENANT ACKNOWLEDGES THAT THE PROPERTY IS OF ITS SELECTION AND TO ITS SPECIFICATIONS AND THAT THE PROPERTY HAS BEEN INSPECTED BY TENANT AND IS SATISFACTORY TO IT. IN THE EVENT OF ANY DEFECT OR DEFICIENCY IN THE PROPERTY OF ANY NATURE, WHETHER LATENT OR PATENT, AS BETWEEN LANDLORD AND TENANT, LANDLORD SHALL NOT HAVE ANY RESPONSIBILITY OR LIABILITY WITH RESPECT THERETO OR FOR ANY INCIDENTAL OR CONSEQUENTIAL DAMAGES (INCLUDING STRICT LIABILITY IN TORT). THE PROVISIONS OF THIS SECTION 7.2 HAVE BEEN NEGOTIATED AND REVIEWED BY TENANT'S LEGAL COUNSEL, AND ARE INTENDED TO BE A COMPLETE EXCLUSION AND NEGATION OF ANY WARRANTIES BY LANDLORD, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, ARISING PURSUANT TO THE UNIFORM COMMERCIAL CODE OR ANY OTHER LAW NOW OR HEREAFTER IN EFFECT OR ARISING OTHERWISE. Tenant represents to Landlord that Tenant has examined the title to the Property prior to the execution and delivery of this Lease and has found the same to be satisfactory for the purposes contemplated hereby. Tenant acknowledges that (A) Tenant or an Affiliate of Tenant has previously operated the Property and has knowledge of its condition which is superior to that of Landlord, (B) fee simple title, except where the Property is held under a ground lease, (both legal and equitable) is in Landlord and that Tenant has only the leasehold right of possession and use of the Property as provided herein, (C) to Tenant's knowledge the Improvements conform to all material Legal Requirements and all material Insurance Requirements, (D) except as specifically disclosed in the Agreement, all easements necessary or appropriate for the use or operation of the Property have been obtained, (E) all contractors and subcontractors retained by Tenant who have performed work on or supplied materials to the Property have been fully paid, and all materials to the Property have been fully paid for, (F) the Improvements constructed by Tenant or any Affiliate of Tenant have been completed in all material respects in a workmanlike manner of first class quality, and (G) all equipment necessary or appropriate for the use or operation of the Property has been installed and is presently operative in all material respects.
Appears in 1 contract
Sources: Lease (Golf Trust of America Inc)
Condition of the Property. Landlord acquired the Property on the Commencement Date and for the period of at least two (2) years prior to the Commencement Date, Tenant acknowledges receipt owned, occupied and delivery operated the Property. Tenant represents that it has examined the title of the Property, the physical condition of the Property, environmental studies and reports of the Property, and the economic feasibility of conducting Tenant's business in and from the Property. Tenant has determined that the same are satisfactory to Tenant, and Tenant accepts the Property on an "AS-IS, WHERE-IS" basis, subject to (a) the rights of any parties in possession and the existing state of the title as of the Commencement Date, (b) any state of facts which an accurate survey or physical inspection of the Property might show, (c) all zoning regulations, restrictions, rules and that Tenant has examined ordinances, building restrictions and otherwise has knowledge of other laws and regulations now in effect or hereafter adopted by any governmental authority having jurisdiction over the condition of any buildings, structures and other improvements located on the Property prior to the execution and delivery of this Lease and has found the same to be in good order and repair and satisfactory for its purposes hereunder. RegardlessProperty, however of any inspection made without representation or warranty by Tenant of the Property and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Property "as is" in its present condition. Tenant waives and releases any claim or cause of action against Landlord with respect to the condition of the Property including any defects or adverse conditions latent or patent, matured or unmatured, known or unknown by Tenant or Landlord as of the date hereofLandlord. TENANT ACKNOWLEDGES THAT LANDLORD (WHETHER ACTING AS LANDLORD HEREUNDER OR IN ANY OTHER CAPACITY) HAS NOT MADE AND WILL NOT MAKE, NOR SHALL LANDLORD BE DEEMED TO HAVE MADE, ANY WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, WITH RESPECT TO ANY OF THE PROPERTY, INCLUDING ANY WARRANTY OR REPRESENTATION AS TO (i) ITS FITNESSFITNESS FOR USE OR PURPOSE, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE, (ii) AS TO THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, (iii) THE EXISTENCE OF ANY DEFECT, LATENT OR PATENT, (iv) AS TO LANDLORD'S TITLE THERETO, (v) OR AS TO VALUE, (vi) COMPLIANCE WITH SPECIFICATIONS, (vii) LOCATION, (viii) USE, CONDITION, MERCHANTABILITY. QUALITY, DESCRIPTION, DURABILITY OR OPERATION, IT BEING AGREED THAT ALL RISKS INCIDENT THERETO ARE TO BE BORNE BY TENANT. Landlord shall not be obligated to provide or pay for any improvement work or services related to the Property. Tenant acknowledges that the Property is of its selection and to its specifications, and that the Property has been inspected by Tenant and is satisfactory to it. In the event of any defect or deficiency in any of the Property of any nature, whether patent or latent, Landlord shall not have any responsibility or liability with respect thereto or for any incidental or consequential damages (ix) CONDITION,including strict liability in tort).
Appears in 1 contract
Condition of the Property. Tenant acknowledges receipt and delivery of possession of the Property and that Tenant has examined and otherwise has knowledge of the condition of accepts the Property prior in its "as is" condition, subject to the execution existing state of title, including all covenants, conditions, restrictions, reservations, mineral leases, easements and delivery other matters of this Lease record or that are visible or apparent on the Property, all applicable Legal Requirements, the lien of financing instruments, mortgages and has found the same to deeds of trust, and such other matters which would be in good order and repair and satisfactory for its purposes hereunder. Regardless, however of any disclosed by an inspection made by Tenant of the Property and whether the record title thereto or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Property "as is" in its present condition. Tenant waives and releases any claim or cause of action against Landlord with respect to the condition of the Property including any defects or adverse conditions latent or patent, matured or unmatured, known or unknown by Tenant or Landlord as of the date hereofan accurate survey thereof. TENANT ACKNOWLEDGES REPRESENTS THAT IT OCCUPIES THE PROPERTY AND HAS FULLY INSPECTED THE PROPERTY AND ALL OF THE FOREGOING AND HAS FOUND THE CONDITION THEREOF SATISFACTORY AND IS NOT RELYING ON ANY REPRESENTATION OR WARRANTY OF LANDLORD (WHETHER ACTING AS OR LANDLORD'S AGENTS OR EMPLOYEES WITH RESPECT THERETO AND TENANT WAIVES ANY CLAIM OR ACTION AGAINST LANDLORD HEREUNDER OR IN ANY OTHER CAPACITY) HAS NOT MADE AND WILL NOT MAKE, NOR SHALL RESPECT OF THE CONDITION THEREOF. LANDLORD BE DEEMED TO HAVE MADE, ANY MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, WITH IN RESPECT TO OF THE PROPERTYPROPERTY OR ANY PART THEREOF, INCLUDING ANY WARRANTY OR REPRESENTATION EITHER AS TO (i) ITS FITNESSFITNESS FOR USE, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSEPURPOSE OR OTHERWISE, (ii) AS TO THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, (iii) THE EXISTENCE OF ANY DEFECT, LATENT OR PATENT, IT BEING AGREED THAT ALL SUCH RISKS ARE TO BE BORNE BY TENANT. To the maximum extent permitted by law, however, Landlord hereby assigns to Tenant all of Landlord's rights to proceed against any predecessor in title, as well as contractors and suppliers for breaches of warranties or representations, or for latent defects in the Property. Landlord shall fully cooperate with Tenant in the prosecution of any such claims, in Landlord's or Tenant's name, all at Tenant's sole cost and expense. Tenant shall indemnify, defend, and hold harmless Landlord from and against any loss, third-party cost, damage or liability (ivincluding reasonable attorneys' fees) LANDLORD'S TITLE THERETO, (v) VALUE, (vi) COMPLIANCE WITH SPECIFICATIONS, (vii) LOCATION, (viii) USE, (ix) CONDITION,incurred by Landlord in connection with such cooperation.
Appears in 1 contract
Condition of the Property. Tenant acknowledges receipt and delivery of possession of Except as may be expressly set forth in this Agreement, Buyer is purchasing the Property AS IS, WHERE IS, WITH ALL FAULTS. Buyer shall rely solely upon its own review of documents and that Tenant has examined and otherwise has knowledge of the condition of the Property prior to the execution and delivery of this Lease and has found the same to be in good order and repair and satisfactory for its purposes hereunder. Regardless, however of any inspection made by Tenant of the Property and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Property "as is" in its present condition. Tenant waives and releases any claim or cause of action against Landlord inspections with respect regard to the condition of the Property including any defects or adverse conditions latent or patent, matured or unmatured, known or unknown by Tenant or Landlord as and the structural and mechanical systems of the date hereof. TENANT ACKNOWLEDGES THAT LANDLORD (improvements thereon, including, but not limited to, its location, size, subsurface or soil condition, construction and character; and, except as may be expressly set forth in this Agreement, Buyer specifically agrees that it shall purchase and acquire the Property AS IS, WHERE IS, WITH ALL FAULTS WITHOUT ANY REPRESENTATION OR WARRANTY BY SELLER WHATSOEVER, WHETHER ACTING AS LANDLORD HEREUNDER OR IN ANY OTHER CAPACITY) HAS NOT MADE AND WILL NOT MAKE, NOR SHALL LANDLORD BE DEEMED TO HAVE MADE, ANY WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIEDIMPLIED EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN THIS AGREEMENT AS TO THE TRUTH OR ACCURACY OF ANY DOCUMENTS SUPPLIED, WITH RESPECT AS TO THE CONDITION OF THE PROPERTY, INCLUDING ANY WARRANTY OR REPRESENTATION AS TO (i) ITS FITNESS, DESIGN OR CONDITION FITNESS FOR ANY PARTICULAR USE OR PURPOSE, (ii) ALL OF WHICH ARE HEREBY EXPRESSLY DISCLAIMED BY SELLER. WITHOUT LIMITING THE QUALITY FOREGOING, BUYER DOES HEREBY SPECIFICALLY AFFIRM THAT, AS A RESULT OF THE MATERIAL FOREGOING PROVISIONS, ITS PURCHASE AND ACQUISITION OF THE PROPERTY SHALL BE MADE WITHOUT ANY REPRESENTATION OR WORKMANSHIP THEREINWARRANTY BY SELLER EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN THIS AGREEMENT AS TO THE ENVIRONMENTAL CONDITION OF THE PROPERTY (INCLUDING ANY MATTERS RELATING TO SUCH ITEMS AS HAZARDOUS MATERIALS (AS DEFINED IN SECTION 14(a) OF THIS AGREEMENT), (iii) THE EXISTENCE OF WASTE MATERIALS, UNDERGROUND STORAGE TANKS OR AREAS OR ANY DEFECT, LATENT OR PATENT, (iv) LANDLORD'S TITLE THERETO, (v) VALUE, (vi) COMPLIANCE WITH SPECIFICATIONS, (vii) LOCATION, (viii) USE, (ix) CONDITION,OTHER ENVIRONMENTAL MATTER.
Appears in 1 contract
Sources: Purchase and Sale Agreement (Industrial Income Trust Inc.)
Condition of the Property. Tenant acknowledges receipt and delivery of possession of the Property and that Tenant has examined and otherwise has knowledge of the condition of the Property prior to the execution and delivery of this Lease and has found the same to be in good order and repair and satisfactory for its purposes hereunder. Regardless, however of any inspection made by Tenant of the Property and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Property "as is" in its present condition. Tenant waives and releases any claim or cause of action against Landlord with respect to the condition of the Property including any defects or adverse conditions latent or patent, matured or unmatured, known or unknown by Tenant or Landlord as of the date hereof. TENANT ACKNOWLEDGES THAT LANDLORD (WHETHER ACTING AS LANDLORD HEREUNDER OR IN ANY OTHER CAPACITY) HAS NOT MADE AND WILL NOT MAKE, NOR SHALL LANDLORD BE DEEMED TO HAVE MADE, ANY WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, INCLUDING ANY WARRANTY OR REPRESENTATION AS TO (i) ITS FITNESS, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE, (ii) THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, (iii) THE EXISTENCE OF ANY DEFECT, LATENT OR PATENT, (iv) LANDLORD'S TITLE THERETO, (v) VALUE, (vi) COMPLIANCE WITH SPECIFICATIONS, (vii) LOCATION, (viii) USE, (ix) CONDITION,, (x) MERCHANTABILITY, (xi) QUALITY, (xii) DESCRIPTION, (xiii) DURABILITY, (xiv) OPERATION, (xv) THE EXISTENCE OF ANY HAZARDOUS MATERIAL OR (xvi) COMPLIANCE OF THE PROPERTY WITH ANY LAW (INCLUDING ENVIRONMENTAL LAWS) OR LEGAL REQUIREMENTS. TENANT ACKNOWLEDGES THAT THE PROPERTY IS OF ITS SELECTION AND TO ITS SPECIFICATIONS AND THAT THE PROPERTY HAS BEEN INSPECTED BY TENANT AND IS SATISFACTORY TO IT. IN THE EVENT OF ANY DEFECT OR DEFICIENCY IN THE PROPERTY OF ANY NATURE, WHETHER LATENT OR PATENT, AS BETWEEN LANDLORD AND TENANT, LANDLORD SHALL NOT HAVE ANY RESPONSIBILITY OR LIABILITY WITH RESPECT THERETO OR FOR ANY INCIDENTAL OR CONSEQUENTIAL DAMAGES (INCLUDING STRICT LIABILITY IN TORT). THE PROVISIONS OF THIS SECTION 7.2 HAVE BEEN NEGOTIATED AND REVIEWED BY TENANT'S LEGAL COUNSEL, AND ARE INTENDED TO BE A COMPLETE EXCLUSION AND NEGATION OF ANY WARRANTIES BY LANDLORD, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, ARISING PURSUANT TO THE UNIFORM COMMERCIAL CODE OR ANY OTHER LAW NOW OR HEREAFTER IN EFFECT OR ARISING OTHERWISE. Tenant represents to Landlord that Tenant has examined the title to the Property prior to the execution and delivery of this Lease and has found the same to be satisfactory for the purposes contemplated hereby. Tenant acknowledges that (A) to Tenant's knowledge, fee simple title, except where the Property is held under a ground lease, (both legal and equitable) is in Landlord, (B) Tenant has only the leasehold right of possession and use of the Property as provided herein, (C) to Tenant's knowledge, the Improvements conform to all material Legal Requirements and all material Insurance Requirements, (D) to Tenant's knowledge all easements necessary or appropriate for the use or operation of the Property have been obtained, (E) all contractors and subcontractors retained by Tenant who have performed work on or supplied materials to the Property have been fully paid, and all materials to the Property have been fully paid for, (F) the Improvements constructed by Tenant or any Affiliate of Tenant have been completed in all material respects in a workmanlike manner of first class quality, and (G) to Tenant's knowledge all equipment necessary or appropriate for the use or operation of the Property has been installed and is presently operative in all material respects.
Appears in 1 contract
Sources: Lease (Golf Trust of America Inc)
Condition of the Property. Tenant acknowledges receipt and delivery of possession of the Property and that Tenant has examined and otherwise has knowledge of the condition of the Property prior to the execution and delivery of this Lease and has found the same to be in good order and repair and satisfactory for its purposes hereunder. Regardless, however of any inspection made by Tenant of the Property and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Property "as is" in its present condition. Tenant waives and releases any claim or cause of action against Landlord with respect to the condition of the Property including any defects or adverse conditions latent or patent, matured or unmatured, known or unknown by Tenant or Landlord as of the date hereof, including, without limitation, claims resulting from the existence of Hazardous Materials on the Property. TENANT ACKNOWLEDGES THAT LANDLORD (WHETHER ACTING AS LANDLORD HEREUNDER OR IN ANY OTHER CAPACITY) HAS NOT MADE AND WILL NOT MAKE, NOR SHALL LANDLORD BE DEEMED TO HAVE MADE, ANY WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, INCLUDING ANY WARRANTY OR REPRESENTATION AS TO (i) ITS FITNESS, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE, (ii) THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, (iii) THE EXISTENCE OF ANY DEFECT, LATENT OR PATENT, (iv) LANDLORD'S TITLE THERETO, (v) VALUE, (vi) COMPLIANCE WITH SPECIFICATIONS, (vii) LOCATION, (viii) USE, (ix) CONDITION,, (x) MERCHANTABILITY, (xi) QUALITY, (xii) DESCRIPTION, (xiii) DURABILITY, (xiv) OPERATION, (xv) THE EXISTENCE OF ANY HAZARDOUS MATERIAL OR (xvi) COMPLIANCE OF THE PROPERTY WITH ANY LAW (INCLUDING ENVIRONMENTAL LAWS) OR LEGAL REQUIREMENTS. TENANT ACKNOWLEDGES THAT THE PROPERTY IS OF ITS SELECTION AND TO ITS SPECIFICATIONS AND THAT THE PROPERTY HAS BEEN INSPECTED BY TENANT AND IS SATISFACTORY TO IT. IN THE EVENT OF ANY DEFECT OR DEFICIENCY IN THE PROPERTY OF ANY NATURE, WHETHER LATENT OR PATENT, AS BETWEEN LANDLORD AND TENANT, LANDLORD SHALL NOT HAVE ANY RESPONSIBILITY OR LIABILITY WITH RESPECT THERETO OR FOR ANY INCIDENTAL OR CONSEQUENTIAL DAMAGES (INCLUDING STRICT LIABILITY IN TORT). THE PROVISIONS OF THIS SECTION 7.2 HAVE BEEN NEGOTIATED AND REVIEWED BY TENANT'S LEGAL COUNSEL, AND ARE INTENDED TO BE A COMPLETE EXCLUSION AND NEGATION OF ANY WARRANTIES BY LANDLORD, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, ARISING PURSUANT TO THE UNIFORM COMMERCIAL CODE OR ANY OTHER LAW NOW OR HEREAFTER IN EFFECT OR ARISING OTHERWISE. Tenant represents to Landlord that Tenant has examined the title to the Property prior to the execution and delivery of this Lease and has found the same to be satisfactory for the purposes contemplated hereby. Tenant acknowledges that fee simple title (both legal and equitable) is in Landlord and that Tenant has only the leasehold right of possession and use of the Property as provided herein. Notwithstanding anything to the contrary in this Lease, nothing in this Section 7.2 is intended to waive, modify or limit in any respect any of Tenant's rights set forth in this Lease including, without limitation, such rights as are set forth under Section 3.3, Article 15, Article 16 and Article 21.
Appears in 1 contract
Sources: Lease (Golf Trust of America Inc)
Condition of the Property. Tenant acknowledges receipt and delivery of possession of the Property and TITLE 6.1 “As Is”. The Purchasers acknowledge (i) that Tenant has examined and otherwise has knowledge of the condition of the Property prior to the execution date hereof, the Purchasers and delivery of this Lease their agents, attorneys, advisors and has found consultants have been given a reasonable opportunity to inspect and investigate the same Projects and to be in good order and repair and satisfactory for its purposes hereunder. Regardless, however of any inspection made by Tenant of the Property and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Property "as is" in its present condition. Tenant waives and releases any claim or cause of action against Landlord perform due diligence with respect to the condition Owners and their respective assets (including the Projects), business, liabilities and obligations (all of the Property including any defects or adverse conditions latent or patentforegoing, matured or unmaturedcollectively, known or unknown by Tenant or Landlord as the “Owner Matters”), and all matters relating to all of the date hereofforegoing, including all of the physical, environmental and operational aspects of the Projects, either independently or through agents and experts of Purchaser’s choosing and (ii) that the Purchasers will acquire the LLC Interests based upon the Purchasers’ own investigation and inspection and not on any representations or warranties made by any person except as set forth in this Agreement. TENANT ACKNOWLEDGES THAT LANDLORD (WHETHER ACTING SELLER AND THE PURCHASERS AGREE THAT, EXCEPT AS LANDLORD HEREUNDER EXPRESSLY PROVIDED FOR IN THIS AGREEMENT, THE LLC INTERESTS SHALL BE SOLD, AND THE PURCHASERS SHALL ACCEPT THE LLC INTERESTS, ON THE CLOSING DATE WITH ALL OWNER MATTERS TO BE ON AN “AS IS, WHERE IS” BASIS, WITH ALL FAULTS AND WITH NO RIGHT OF SET‑OFF OR REDUCTION IN THE PURCHASE PRICE, AND THAT, EXCEPT AS EXPRESSLY PROVIDED IN THIS AGREEMENT OR IN THE DOCUMENTS EXECUTED AND DELIVERED BY SELLER AT CLOSING, SUCH SALE SHALL BE WITHOUT REPRESENTATION OR WARRANTY OF ANY KIND, WHETHER EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, INCLUDING WARRANTY OF INCOME POTENTIAL, OPERATING EXPENSES, USES, AVAILABILITY OF DEVELOPMENT RIGHTS, ZONING, MERCHANTABILITY, PHYSICAL CONDITION THEREOF OR FITNESS FOR A PARTICULAR PURPOSE OR ANY REPRESENTATION OR WARRANTY WITH RESPECT TO ANY RENT ROLL AND SELLER DOES HEREBY DISCLAIM AND RENOUNCE ANY SUCH REPRESENTATION OR WARRANTY, EXCEPT AS EXPRESSLY PROVIDED IN THIS AGREEMENT. THE PURCHASERS SPECIFICALLY ACKNOWLEDGE THAT, EXCEPT AS PROVIDED FOR IN THIS AGREEMENT OR IN THE DOCUMENTS EXECUTED AND DELIVERED BY SELLER AT CLOSING, THE PURCHASERS ARE NOT RELYING AND SHALL NOT RELY ON ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND WHATSOEVER, WHETHER EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, FROM SELLER OR ANY OTHER CAPACITY) HAS NOT MADE PERSON AS TO THE OWNER MATTERS (AND WILL NOT MAKE, NOR SHALL LANDLORD BE DEEMED TO HAVE MADE, ANY WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, HEREBY RELEASES SELLER FROM ALL LIABILITY WITH RESPECT TO THE PROPERTYOWNER MATTERS, EXCEPT AS EXPRESSLY PROVIDED IN THIS AGREEMENT OR IN THE DOCUMENTS EXECUTED AND DELIVERED BY SELLER AT CLOSING), INCLUDING: (A) THE CONDITION OR SAFETY OF THE PROJECTS, INCLUDING PLUMBING, SEWER, HEATING AND ELECTRICAL SYSTEMS, ROOFING, AIR CONDITIONING, 36 FOUNDATIONS, SOILS AND GEOLOGY (INCLUDING THE PRESENCE OF CONTAMINATION AND OTHER HAZARDOUS SUBSTANCES OR THE COMPLIANCE OF THE PROJECTS WITH APPLICABLE REQUIREMENTS OF LAW), LOT SIZE, OR SUITABILITY OF THE PROJECTS FOR A PARTICULAR PURPOSE; (B) WHETHER THE APPLIANCES, IF ANY, PLUMBING OR UTILITIES AND ANY WARRANTY ASSOCIATED METERS ARE IN WORKING ORDER; (C) THE LIVABILITY OR REPRESENTATION AS TO (i) ITS FITNESS, DESIGN OR CONDITION SUITABILITY FOR OCCUPANCY OF ANY PARTICULAR USE OR PURPOSE, (ii) STRUCTURE AND THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, ITS CONSTRUCTION; (iiiD) THE EXISTENCE FITNESS OF ANY DEFECTPERSONAL PROPERTY; OR (E) THE PHYSICAL CONDITION OF THE PROJECTS, LATENT INCLUDING WHETHER THE IMPROVEMENTS INCLUDED IN THE PROJECTS ARE STRUCTURALLY SOUND, IN GOOD CONDITION, OR PATENT, (iv) LANDLORD'S TITLE THERETO, (v) VALUE, (vi) IN COMPLIANCE WITH SPECIFICATIONSAPPLICABLE REQUIREMENTS OF LAW. THE PURCHASERS FURTHER ACKNOWLEDGE AND AGREE THAT, (vii) LOCATIONEXCEPT AS EXPRESSLY PROVIDED IN THIS AGREEMENT AND IN THE CLOSING DOCUMENTS, (viii) USESELLER SHALL NOT BE UNDER ANY DUTY TO MAKE ANY AFFIRMATIVE DISCLOSURE REGARDING ANY MATTER WHICH MAY BE KNOWN TO IT, (ix) CONDITION,ITS OFFICERS, DIRECTORS, PRINCIPALS, CONTRACTORS, AGENTS OR EMPLOYEES, AND THAT THE PURCHASERS ARE RELYING SOLELY UPON THEIR OWN INSPECTION OF THE PROJECTS AND ITS OTHER DUE DILIGENCE AND NOT UPON ANY REPRESENTATIONS MADE TO IT BY ANY PERSON WHOMSOEVER. ANY REPORTS, REPAIRS OR WORK REQUIRED BY THE PURCHASERS ARE TO BE THE SOLE RESPONSIBILITY OF THE PURCHASERS AND THE PURCHASERS AGREE THAT, EXCEPT AS EXPRESSLY PROVIDED IN THIS AGREEMENT, THERE IS NO OBLIGATION ON THE PART OF SELLER TO MAKE OR CAUSE TO BE MADE ANY CHANGES, ALTERATIONS, OR REPAIRS TO THE PROJECTS. THE PURCHASERS AGREE AND ACKNOWLEDGE THAT THE PURCHASERS’ OBLIGATIONS HEREUNDER SHALL REMAIN IN FULL FORCE AND EFFECT WITH THE PURCHASERS HAVING NO RIGHT TO DELAY THE CLOSING OR TERMINATE THIS AGREEMENT, EXCEPT AS EXPRESSLY PROVIDED IN THIS AGREEMENT, REGARDLESS OF ANY FACTS OR INFORMATION LEARNED BY THE PURCHASERS BEFORE OR AFTER THE DATE HEREOF. The provisions of this Section 6.1 shall survive the Closing without limitation.
Appears in 1 contract
Condition of the Property. Tenant acknowledges receipt and delivery of possession of the Property and that Tenant has examined and otherwise has knowledge of the condition of the Property prior to the execution and delivery of this Lease and has found the same to be in good order and repair and satisfactory for its purposes hereunderTHE PROPERTY SHALL BE CONVEYED IN “AS-IS” CONDITION, SUBJECT TO KNOWN AND UNKNOWN DEFECTS, IF ANY, AND SUBJECT TO THE PRESENT MANNER OF USE AND OCCUPANCY OF THE PROPERTY. Regardless, however of any inspection made by Tenant of the Property and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Property "as is" in its present condition. Tenant waives and releases any claim or cause of action against Landlord with respect to the condition of the Property including any defects or adverse conditions latent or patent, matured or unmatured, known or unknown by Tenant or Landlord as of the date hereof. TENANT ACKNOWLEDGES THAT LANDLORD (WHETHER ACTING AS LANDLORD HEREUNDER THE SELLER MAKES NO REPRESENTATION OR IN WARRANTY OF ANY OTHER CAPACITY) HAS NOT MADE AND WILL NOT MAKE, NOR SHALL LANDLORD BE DEEMED TO HAVE MADE, ANY WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, KIND WITH RESPECT TO THE PROPERTY, INCLUDING OR TO ITS USE AND OCCUPANCY. THE BUYER ACKNOWLEDGES THAT BUYER HAS NOT BEEN INFLUENCED TO ENTER THIS TRANSACTION BY, NOR HAS IT RELIED UPON, ANY WARRANTY REPRESENTATIONS OR REPRESENTATION AS TO (i) ITS FITNESS, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE, (ii) THE QUALITY WARRANTIES OF THE MATERIAL SELLER OR WORKMANSHIP THEREINTHE AUCTIONEER, (iii) THE EXISTENCE OF ANY DEFECT, LATENT INCLUDING BUT NOT LIMITED TO REPRESENTATIONS OR PATENT, (iv) LANDLORD'S TITLE THERETO, (v) VALUE, (vi) WARRANTIES CONCERNING COMPLIANCE WITH SPECIFICATIONSANY HEALTH, BUILDING, ZONING, ENVIRONMENTAL OR OTHER LAW OR ORDINANCE OR REGULATION (viiFEDERAL, STATE OR LOCAL) LOCATIONWHICH MAY AFFECT THE TRANSFER OF THE PROPERTY OR THE BUYER’S USE AND/OR ENJOYMENT OF THE PROPERTY, (viii) USEEACH OF WHICH REPRESENTATIONS AND WARRANTIES IS EXPRESSLY DISCLAIMED. The Buyer acknowledges that it has had the opportunity to investigate the condition of the Property and to examine such public records pertaining to the Property as it has deemed necessary. The Buyer acknowledges that the cost of any inspections of the Property necessary for compliance with Title 5 of the Massachusetts Environmental Code shall be the Buyer’s sole responsibility. If the Property is serviced by such a system, (ix) CONDITION,the Buyer agrees to comply with the provisions of 310 CMR 15.301 requiring inspection of the system within six months after the date of this Memorandum of Sale. The Buyer agrees that such inspection will be made at the Buyer’s sole expense. The Buyer agrees that the cost of any inspections of the Property necessary for compliance with any state, federal or local law, ordinance or regulation will be the Buyer’s sole responsibility, and that Seller shall have no liability or responsibility therefor whatsoever. The Buyer acknowledges that the Seller shall be under no obligation to comply with any statute or regulation, including, without limitation, Massachusetts General Laws c. 148, §§26F, 26G and 28 concerning installation of smoke detectors, carbon monoxide detectors or automatic fire suppression or sprinkler systems, which obligations the Buyer specifically assumes.
Appears in 1 contract
Sources: Memorandum of Sale
Condition of the Property. Tenant acknowledges receipt and delivery of complete and exclusive possession of the Property Property, subject to the Permitted Encumbrances. Tenant acknowledges and confirms that for a substantial period prior to and up to and including the execution of this Master Lease, Tenant’s Parent and/or its Subsidiaries have been in continuous ownership and possession of the Property, Tenant is fully familiar therewith, and has examined and otherwise has knowledge of the condition of the Property prior to the execution and delivery of this Master Lease and has found the same to be in good order and repair and free from Hazardous Substances not in compliance with Legal Requirements and satisfactory for its purposes hereunder. Regardless, however however, of any knowledge, examination or inspection made by Tenant of the Property and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Property "“as is" ,” “where is” and “with all faults” in its present condition. Tenant hereby irrevocably, unconditionally and absolutely waives and releases relinquishes any claim or cause of action against Landlord with whatsoever in respect to of the condition of the Property Property, including any patent or latent defects or adverse conditions latent not discovered or patent, matured discoverable or unmatured, otherwise known or unknown by Tenant or Landlord ▇▇▇▇▇▇ as of the date hereofCommencement Date. TENANT ACKNOWLEDGES THAT LANDLORD (WHETHER ACTING AS LANDLORD HEREUNDER OR IN ANY OTHER CAPACITY) HAS NOT MADE AND WILL NOT MAKE, NOR SHALL LANDLORD BE DEEMED TO HAVE MADE, ANY MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, WITH IN FACT OR IN LAW, IN RESPECT TO OF THE PROPERTYPROPERTY OR ANY PART THEREOF, INCLUDING ANY WARRANTY OR REPRESENTATION EITHER AS TO (i) ITS FITNESSFITNESS FOR USE, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSEPURPOSE OR OTHERWISE, (ii) OR AS TO THE NATURE OR QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, (iii) OR THE EXISTENCE OF ANY DEFECTHAZARDOUS SUBSTANCE, IT BEING AGREED THAT ALL SUCH RISKS, KNOWN AND UNKNOWN, LATENT OR PATENT, (iv) LANDLORD'S TITLE THERETOARE TO BE BORNE SOLELY BY TENANT, (v) VALUE, (vi) INCLUDING ALL RESPONSIBILITY AND LIABILITY FOR ANY ENVIRONMENTAL REMEDIATION AND COMPLIANCE WITH SPECIFICATIONS, (vii) LOCATION, (viii) USE, (ix) CONDITION,ALL ENVIRONMENTAL LAWS. THE FOREGOING SHALL NOT LIMIT ANY EXPRESS COVENANTS OR OBLIGATIONS OF LANDLORD CONTAINED ELSEWHERE IN THIS MASTER LEASE. Tenant’s Initials: _____ Landlord’s Initials: ____
Appears in 1 contract
Condition of the Property. Subject to Section 12.3 hereof, Tenant acknowledges receipt and delivery of possession of the Property and that Tenant ▇▇▇▇▇▇ has examined and otherwise has knowledge of the condition of the Property prior to the execution and delivery of this Lease and has found the same to be in good order and repair and satisfactory for its purposes hereunder. Regardless, however of any inspection made by Tenant of the Property and whether or not any patent or latent defect or condition was revealed or discovered thereby, subject to Section 12.3 hereof, Tenant is leasing the Property "as is" in its present condition, subject to the obligation of the Transferor to complete certain environmental remediation work pursuant to an agreement previously provided to Tenant. Subject to Section 12.3 hereof, Tenant waives and releases any claim or cause of action against Landlord with respect to the condition of the Property including any defects or adverse conditions latent or patent, matured or unmatured, known or unknown by Tenant or Landlord as of the date hereof. TENANT ACKNOWLEDGES THAT LANDLORD (WHETHER ACTING AS LANDLORD HEREUNDER OR IN ANY OTHER CAPACITY) HAS NOT MADE AND WILL NOT MAKE, NOR SHALL LANDLORD BE DEEMED TO HAVE MADE, ANY WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, INCLUDING ANY WARRANTY OR REPRESENTATION AS TO (i) ITS FITNESS, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE, (ii) THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, (iii) THE EXISTENCE OF ANY DEFECT, LATENT OR PATENT, (iv) LANDLORD'S TITLE THERETO, (v) VALUE, (vi) COMPLIANCE WITH SPECIFICATIONS, (vii) LOCATION, (viii) USE, (ix) CONDITION,, (x) MERCHANTABILITY, (xi) QUALITY, (xii) DESCRIPTION, (xiii) DURABILITY, (xiv) OPERATION, (xv) THE EXISTENCE OF ANY HAZARDOUS MATERIAL OR (xvi) COMPLIANCE OF THE PROPERTY WITH ANY LAW (INCLUDING ENVIRONMENTAL LAWS) OR LEGAL REQUIREMENTS. TENANT ACKNOWLEDGES THAT THE PROPERTY IS OF ITS SELECTION AND TO ITS SPECIFICATIONS AND THAT THE PROPERTY HAS BEEN INSPECTED BY TENANT AND IS SATISFACTORY TO IT. IN THE EVENT OF ANY DEFECT OR DEFICIENCY IN THE PROPERTY OF ANY NATURE, WHETHER LATENT OR PATENT, AS BETWEEN LANDLORD AND TENANT, LANDLORD SHALL NOT HAVE ANY RESPONSIBILITY OR LIABILITY WITH RESPECT THERETO OR FOR ANY INCIDENTAL OR CONSEQUENTIAL DAMAGES (INCLUDING STRICT LIABILITY IN TORT). THE PROVISIONS OF THIS SECTION 7.2 HAVE BEEN NEGOTIATED AND REVIEWED BY TENANT'S LEGAL COUNSEL, AND ARE INTENDED TO BE A COMPLETE EXCLUSION AND NEGATION OF ANY WARRANTIES BY LANDLORD, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, ARISING PURSUANT TO THE UNIFORM COMMERCIAL CODE OR ANY OTHER LAW NOW OR HEREAFTER IN EFFECT OR ARISING OTHERWISE. Tenant represents to Landlord that ▇▇▇▇▇▇ has examined the title to the Property prior to the execution and delivery of this Lease and has found the same to be satisfactory for the purposes contemplated hereby. Tenant acknowledges that fee simple title, except where the Property is held under a ground lease, (both legal and equitable) is in Landlord and that Tenant has only the leasehold right of possession and use of the Property as provided herein.
Appears in 1 contract
Sources: Lease (Golf Trust of America Inc)
Condition of the Property. Tenant ▇▇▇▇▇▇ acknowledges receipt and delivery of possession of the Property and that Tenant ▇▇▇▇▇▇ has examined and otherwise has knowledge of the condition of the Property prior to the execution and delivery of this Lease and has found the same to be in good order and repair and satisfactory for its purposes hereunder. Regardless, however of any inspection made by Tenant of the Property and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Property "as is" in its present condition. Tenant waives and releases any claim or cause of action against Landlord with respect to the condition of the Property including any defects or adverse conditions latent or patent, matured or unmatured, known or unknown by Tenant or Landlord as of the date hereof. TENANT ACKNOWLEDGES THAT LANDLORD (WHETHER ACTING AS LANDLORD HEREUNDER OR IN ANY OTHER CAPACITY) HAS NOT MADE AND WILL NOT MAKE, NOR SHALL LANDLORD BE DEEMED TO HAVE MADE, ANY WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, INCLUDING ANY WARRANTY OR REPRESENTATION AS TO (i) ITS FITNESS, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE, (ii) THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, (iii) THE EXISTENCE OF ANY DEFECT, LATENT OR PATENT, (iv) LANDLORD'S TITLE THERETO, (v) VALUE, (vi) COMPLIANCE WITH SPECIFICATIONS, (vii) LOCATION, (viii) USE, (ix) CONDITION,, (x) MERCHANTABILITY, (xi) QUALITY, (xii) DESCRIPTION, (xiii) DURABILITY, (xiv) OPERATION, (xv) THE EXISTENCE OF ANY HAZARDOUS MATERIAL OR (xvi) COMPLIANCE OF THE PROPERTY WITH ANY LAW (INCLUDING ENVIRONMENTAL LAWS) OR LEGAL REQUIREMENTS. TENANT ACKNOWLEDGES THAT THE PROPERTY IS OF ITS SELECTION AND TO ITS SPECIFICATIONS AND THAT THE PROPERTY HAS BEEN INSPECTED BY TENANT AND IS SATISFACTORY TO IT. IN THE EVENT OF ANY DEFECT OR DEFICIENCY IN THE PROPERTY OF ANY NATURE, WHETHER LATENT OR PATENT, AS BETWEEN LANDLORD AND TENANT, LANDLORD SHALL NOT HAVE ANY RESPONSIBILITY OR LIABILITY WITH RESPECT THERETO OR FOR ANY INCIDENTAL OR CONSEQUENTIAL DAMAGES (INCLUDING STRICT LIABILITY IN TORT). THE PROVISIONS OF THIS SECTION 7.2 HAVE BEEN NEGOTIATED AND REVIEWED BY TENANT'S LEGAL COUNSEL, AND ARE INTENDED TO BE A COMPLETE EXCLUSION AND NEGATION OF ANY WARRANTIES BY LANDLORD, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, ARISING PURSUANT TO THE UNIFORM COMMERCIAL CODE OR ANY OTHER LAW NOW OR HEREAFTER IN EFFECT OR ARISING OTHERWISE. Tenant represents to Landlord that ▇▇▇▇▇▇ has examined the title to the Property prior to the execution and delivery of this Lease and has found the same to be satisfactory for the
Appears in 1 contract
Sources: Lease (Golf Trust of America Inc)
Condition of the Property. Tenant acknowledges receipt (a) By Buyer electing to deliver the Go Forward Notice under Section 1.2(a) above, Buyer will be deemed to have acknowledged and delivery of possession agreed that it has been given a full opportunity to inspect and investigate each and every aspect of the Property and that Tenant has examined and otherwise has knowledge Property, either independently or through agents of Buyer’s choosing. Such examination of the physical condition of the Property prior shall include an examination for the presence or absence of Hazardous Materials, as defined below, which shall be performed or arranged by Buyer (subject to the execution and delivery provisions of this Lease and has found the same to be in good order and repair and satisfactory for its purposes hereunder. RegardlessSection 1.2 hereof) at Buyer’s sole expense.
(b) EXCEPT AS SET FORTH IN THIS AGREEMENT, however of any inspection made by Tenant of the Property and whether or not any patent or latent defect or condition was revealed or discovered therebyTHE CLOSING DOCUMENTS, Tenant is leasing the Property "as is" in its present condition. Tenant waives and releases any claim or cause of action against Landlord with respect to the condition of the Property including any defects or adverse conditions latent or patent, matured or unmatured, known or unknown by Tenant or Landlord as of the date hereof. TENANT BUYER SPECIFICALLY ACKNOWLEDGES AND AGREES THAT LANDLORD (WHETHER ACTING SELLER IS SELLING AND BUYER IS PURCHASING THE PROPERTY ON AN “AS LANDLORD HEREUNDER IS WITH ALL FAULTS” BASIS AND THAT BUYER IS NOT RELYING ON ANY REPRESENTATIONS OR IN WARRANTIES OF ANY OTHER CAPACITY) HAS NOT MADE AND WILL NOT MAKE, NOR SHALL LANDLORD BE DEEMED TO HAVE MADE, ANY WARRANTY OR REPRESENTATIONKIND WHATSOEVER, EXPRESS OR IMPLIED, FROM SELLER, ANY SELLER RELATED PARTIES, OR THEIR AGENTS OR BROKERS, OR ANY OTHER PERSON ACTING OR PURPORTING TO ACT ON BEHALF OF SELLER, AS TO ANY MATTERS CONCERNING THE PROPERTY, INCLUDING the following matters with respect to the Property (collectively, the “Property Condition”): (i) the quality, nature, adequacy and physical condition and aspects of the Property, including, but not limited to, the structural elements, seismic aspects of the Property, foundation, roof, appurtenances, access, landscaping, parking facilities and the electrical, mechanical, HVAC, plumbing, sewage, and utility systems, facilities and appliances, the square footage within the improvements on the Property and within each tenant space therein, (ii) the quality, nature, adequacy, and physical condition of soils, geology and any groundwater, (iii) the existence, quality, nature, adequacy and physical condition of utilities serving the Property, (iv) the development potential of the Real Property, including, without limitation, the status of all permits, approvals and entitlements with respect to the Real Property, the status of any development or use rights respecting the Real Property, and the availability of permits, licenses and approvals respecting the development of the Real Property, (v) the Property’s use, habitability, merchantability, or fitness, suitability, value or adequacy of the Property for any particular purpose, or the economic or engineering feasibility of the development of the Property that may be contemplated by Buyer; (vi) the zoning or other legal status of the Property or any other public or private restrictions on use of the Property, (vii) the compliance of the Property or its operation with any applicable codes, laws, regulations, statutes, ordinances, covenants, conditions and restrictions of any governmental or quasi-governmental entity or of any other person or entity, (viii) the presence of Hazardous Materials on, under or about the Property or the adjoining or neighboring property, (ix) the quality of any labor and materials used in any improvements on the Property, (x) the condition of title to the Property, (xi) the Lease or other documents or agreements affecting the Property, or any information contained in any rent roll furnished to Buyer for the Property, (xii) the value, economics of the operation or income potential of the Property, or (xiii) any other fact or condition which may affect the Property, including without limitation, the physical condition, value, economics of operation or income potential of the Property. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, SELLER SHALL HAVE NO LIABILITY WITH RESPECT TO THE PROPERTYCONDITION OF THE PROPERTY UNDER COMMON LAW, OR ANY FEDERAL, STATE, OR LOCAL LAW OR REGULATION, INCLUDING BUT NOT LIMITED TO THE COMPREHENSIVE ENVIRONMENTAL RESPONSE, COMPENSATION AND LIABILITY ACT OF 1980 AS AMENDED, 42 U.S.C.A. SECTIONS 9601 ET SEQ., OR APPLICABLE WASHINGTON LAW, AND BUYER HEREBY RELEASES AND WAIVES ANY WARRANTY AND ALL CLAIMS WHICH THE BUYER HAS OR REPRESENTATION AS MAY HAVE AGAINST THE SELLER WITH RESPECT TO (i) ITS FITNESS, DESIGN OR THE CONDITION FOR ANY PARTICULAR USE OR PURPOSE, (ii) THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREINPROPERTY.
(c) Buyer further acknowledges and agrees that, (iii) THE EXISTENCE OF ANY DEFECTexcept for any express representations, LATENT OR PATENTwarranties or agreements made by Seller in this Agreement or in any closing document, (iv) LANDLORD'S TITLE THERETOneither Seller nor any of Seller’s employees, (v) VALUEagents or representatives have made any statements or representations, (vi) COMPLIANCE WITH SPECIFICATIONSexpress or implied, (vii) LOCATIONby or on behalf of Seller as to any matters concerning the Property Condition. Except as otherwise expressly set forth in this Agreement or in any closing document, (viii) USESeller disclaims any and all such statements and representations, (ix) CONDITION,and Buyer agrees that any inaccuracy or deficiency in information, advice or documents given to Buyer shall be solely the responsibility and risk of Buyer and shall not be chargeable in any respect to Seller. Except as expressly set forth in this Agreement or in any closing document, Buyer acknowledges that it is not relying on any statement or representation, whether express or implied, oral or written, that has been made or that in the future may be made by Seller or any of Seller’s employees, agents, attorneys or representatives concerning the Property Condition.
Appears in 1 contract
Sources: Purchase Agreement (Invesco Real Estate Income Trust Inc.)
Condition of the Property. Tenant acknowledges receipt Prior to Closing, Purchaser shall have fully examined and delivery of possession of inspected the Property and that Tenant has examined have become thoroughly familiar with the condition, status and otherwise has knowledge usability of the condition same. PURCHASER IS PURCHASING THE PROPERTY IN AN "AS IS" CONDITION, "WITH ALL FAULTS", WITH ALL KNOWN AND UNKNOWN ENVIRONMENTAL CONDITIONS AND LIABILITIES (INCLUDING WITHOUT LIMITATION STRICT LIABILITY), AND WITHOUT ANY WARRANTIES, REPRESENTATIONS OR GUARANTEES, EITHER EXPRESS OR IMPLIED, OR ARISING BY OPERATION OF LAW, OF ANY KIND, NATURE, OR TYPE WHATSOEVER FROM OR ON BEHALF OF SELLER. Purchaser assumes all liability (including strict liability) associated with the Property, whether known or unknown. Except for the limited warranty of the Property prior to the execution and delivery of this Lease and has found the same title to be contained in good order and repair and satisfactory for its purposes hereunder. Regardlessthe limited warranty deed to be executed by Seller pursuant to Section 5 hereof, however of any inspection made by Tenant of the Property and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Property "as is" in its present condition. Tenant waives and releases any claim or cause of action against Landlord with respect to the condition of the Property including any defects or adverse conditions latent or patent, matured or unmatured, known or unknown by Tenant or Landlord as of the date hereof. TENANT ACKNOWLEDGES THAT LANDLORD (WHETHER ACTING AS LANDLORD HEREUNDER OR IN ANY OTHER CAPACITY) SELLER HAS NOT MADE AND WILL DOES NOT MAKE, NOR SHALL LANDLORD BE DEEMED MAKE ANY REPRESENTATIONS OR WARRANTIES TO HAVE MADE, ANY WARRANTY OR REPRESENTATIONPURCHASER WHATSOEVER, EXPRESS OR IMPLIED, OR ARISING BY OPERATION OF LAW, WITH RESPECT TO THE PROPERTY, INCLUDING INCLUDING, BUT IN NO WAY LIMITED TO, ANY WARRANTY OF CONDITION, MERCHANTABILITY, HABITABILITY OR REPRESENTATION AS FITNESS FOR A PARTICULAR USE, OR WITH RESPECT TO (i) ITS FITNESSTHE VALUE, DESIGN PROFITABILITY OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE, (ii) THE QUALITY MARKETABILITY OF THE MATERIAL PROPERTY. PURCHASER ACKNOWLEDGES THAT SELLER HAS NOT MADE, DOES NOT AND WILL NOT MAKE ANY REPRESENTATION OR WORKMANSHIP THEREINWARRANTY WITH REGARD TO THE CONDITION OR COMPLIANCE OF THE PROPERTY WITH RESPECT TO ANY ENVIRONMENTAL PROTECTION, (iii) POLLUTION CONTROL OR LAND USE LAWS, RULES, REGULATIONS, ORDERS OR REQUIREMENTS, INCLUDING BUT NOT LIMITED TO THOSE PERTAINING TO THE EXISTENCE USE, HANDLING, GENERATION, TREATMENT, STORAGE OR DISPOSAL OF ANY DEFECTTOXIC OR HAZARDOUS WASTE OR TOXIC, LATENT HAZARDOUS OR PATENT, (iv) LANDLORD'S TITLE THERETO, (v) VALUE, (vi) COMPLIANCE WITH SPECIFICATIONS, (vii) LOCATION, (viii) USE, (ix) CONDITION,REGULATED SUBSTANCE.
Appears in 1 contract
Sources: Purchase and Sale Agreement
Condition of the Property. Tenant acknowledges receipt and delivery of possession of the Property and that Tenant has examined and otherwise has knowledge of the condition of the Property prior to the execution and delivery of this Lease and has found the same to be in good order and repair and satisfactory for its purposes hereunder. Regardless, however of any inspection made by Tenant of the Property and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Property "as is" in its present condition. Tenant waives and releases any claim or cause of action against Landlord with respect to the condition of the Property including any defects or adverse conditions latent or patent, matured or unmatured, known or unknown by Tenant or Landlord as of the date hereof. TENANT ACKNOWLEDGES THAT LANDLORD (WHETHER ACTING AS LANDLORD HEREUNDER a) SELLER DISCLAIMS THE MAKING OF ANY REPRESENTATIONS OR IN ANY OTHER CAPACITY) HAS NOT MADE AND WILL NOT MAKE, NOR SHALL LANDLORD BE DEEMED TO HAVE MADE, ANY WARRANTY OR REPRESENTATIONWARRANTIES, EXPRESS OR IMPLIED, REGARDING THE PROPERTY OR MATTERS AFFECTING THE PROPERTY, INCLUDING, WITHOUT LIMITATION, THE PHYSICAL CONDITION OF THE PROPERTY, THE QUALITY OF ANY WORK OR MATERIALS USED IN CONNECTION WITH RESPECT THE IMPROVEMENTS ON THE REAL PROPERTY, LEASES, TITLE TO OR THE BOUNDARIES OF THE REAL PROPERTY, PEST CONTROL MATTERS, SOIL CONDITION, HAZARDOUS WASTE, TOXIC SUBSTANCE OR OTHER ENVIRONMENTAL MATTERS, COMPLIANCE WITH BUILDING, HEALTH, SAFETY, LAND USE AND ZONING LAWS, REGULATIONS AND ORDERS, STRUCTURAL AND OTHER ENGINEERING CHARACTERISTICS, TRAFFIC PATTERNS, THE DEVELOPMENT POTENTIAL OF THE PROPERTY AND THE PROPERTY’S USE, FITNESS, VALUE, OR ADEQUACY FOR ANY PARTICULAR PURPOSE, AND ALL OTHER INFORMATION PERTAINING TO THE PROPERTY. Notwithstanding the foregoing, INCLUDING ANY WARRANTY OR REPRESENTATION AS TO Seller hereby represents and warrants that as of the Closing Date (i) ITS FITNESSthe roof of the Real Property shall be free of significant leaks; (ii) the mechanical systems in the Real Property shall be in working order; (iii) the Real Property shall be delivered vacant and broom-clean; (iv) the area previously occupied by the one-story masonry structure connecting the north wall of the building on the Real Property to the building immediately to the north of the Real Property will be graded and paved; (v) Seller shall have the environmental report performed by Impact Environmental certified to Buyer, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSEat Buyer’s sole cost and expense; and (vi) Seller shall have substantially completed the items set forth in Exhibit B annexed hereto and shall have delivered to Buyer a letter or other acknowledgement from Nassau County or one of its departments, agencies or authorities acknowledging that the work set forth in Exhibit B has been completed. Seller’s representation set forth in subsections (iii) and (v) shall not survive the Closing, and Seller’s representations set forth in subsections (i), (ii) THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, (iii) THE EXISTENCE OF ANY DEFECT, LATENT OR PATENT), (iv) LANDLORD'S TITLE THERETO, (v) VALUE, and (vi) COMPLIANCE above shall survive the Closing only for a period of 60 days following the Closing.
(b) BUYER, MOREOVER, ACKNOWLEDGES THAT BUYER HAS INSPECTED AND EXAMINED THE PROPERTY AND IS FAMILIAR AND SATISFIED WITH SPECIFICATIONSTHE STRUCTURAL CONDITION, (vii) LOCATIONSURVEY, (viii) ENVIRONMENTAL, FINANCIAL AND LEGAL CONDITION OF THE PROPERTY, AND EXCEPT AS SPECIFICALLY PROVIDED IN THE LAST SENTENCE OF THE IMMEDIATELY PRECEDING PARAGRAPH, BUYER SHALL PURCHASE THE PROPERTY IN ITS “AS-IS” AND “WHERE-IS” CONDITION AS THE SAME MAY BE ON THE DATE HEREOF, SUBJECT, HOWEVER, TO REASONABLE USE, WEAR, TEAR, CASUALTY AND NATURAL DETERIORATION BETWEEN THE DATE HEREOF AND THE CLOSING DATE. BUYER FURTHER ACKNOWLEDGES THAT SELLER SHALL NOT BE REQUIRED TO BEGIN OR COMPLETE ANY WORK ON THE REAL PROPERTY AS A CONDITION TO CLOSING.
(ixc) CONDITION,Buyer its agents, employees, contractors, affiliates, successors and assigns, hereby releases and forever discharges Seller, its agents, affiliates, successors, assigns, Seller’s investment manager, partners and officers from any and all rights, claims and demands at law or in equity, whether direct or indirect, foreseen or unforeseen, or known or unknown at the time of this Agreement, which Buyer has or may have in the future, arising out of, or in any way connected with, the structural, survey, environmental, financial or legal condition of the Property, or any law or regulation applicable thereto.
(d) Buyer hereby specifically acknowledges that Buyer has carefully reviewed this Section 2.4 and discussed its import with legal counsel and that the provisions of this Section 2.4 are a material part of this Agreement. The disclaimer and release contained in this Section 2.4 shall not merge with the transfer of title and shall survive the Closing Date, the recordation of the Deed or any termination of this Agreement.
Appears in 1 contract
Condition of the Property. Tenant acknowledges receipt and delivery of complete and exclusive possession of the Property Property, subject to the Permitted Encumbrances. Tenant acknowledges and confirms that for a substantial period prior to and up to and including the execution of this Master Lease, Tenant’s Parent and/or its Subsidiaries have been in continuous ownership and possession of the Property, Tenant is fully familiar therewith, and has examined and otherwise has knowledge of the condition of the Property prior to the execution and delivery of this Master Lease and has found the same to be in good order and repair and free from Hazardous Substances not in compliance with Legal Requirements and satisfactory for its purposes hereunder. Regardless, however however, of any knowledge, examination or inspection made by Tenant of the Property and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Property "“as is" ,” “where is” and “with all faults” in its present condition. Tenant hereby irrevocably, unconditionally and absolutely waives and releases relinquishes any claim or cause of action against Landlord with whatsoever in respect to of the condition of the Property Property, including any patent or latent defects or adverse conditions latent not discovered or patent, matured discoverable or unmatured, otherwise known or unknown by Tenant or Landlord ▇▇▇▇▇▇ as of the date hereofCommencement Date. TENANT ACKNOWLEDGES THAT LANDLORD (WHETHER ACTING AS LANDLORD HEREUNDER OR IN ANY OTHER CAPACITY) HAS NOT MADE AND WILL NOT MAKE, NOR SHALL LANDLORD BE DEEMED TO HAVE MADE, ANY MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, WITH IN FACT OR IN LAW, IN RESPECT TO OF THE PROPERTYPROPERTY OR ANY PART THEREOF, INCLUDING ANY WARRANTY OR REPRESENTATION EITHER AS TO (i) ITS FITNESSFITNESS FOR USE, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSEPURPOSE OR OTHERWISE, (ii) OR AS TO THE NATURE OR QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, (iii) OR THE EXISTENCE OF ANY DEFECTHAZARDOUS SUBSTANCE, IT BEING AGREED THAT ALL SUCH RISKS, KNOWN AND UNKNOWN, LATENT OR PATENT, (iv) LANDLORD'S TITLE THERETOARE TO BE BORNE SOLELY BY TENANT, (v) VALUE, (vi) INCLUDING ALL RESPONSIBILITY AND LIABILITY FOR ANY ENVIRONMENTAL REMEDIATION AND COMPLIANCE WITH SPECIFICATIONS, (vii) LOCATION, (viii) USE, (ix) CONDITION,ALL ENVIRONMENTAL LAWS. THE FOREGOING SHALL NOT LIMIT ANY EXPRESS COVENANTS OR OBLIGATIONS OF LANDLORD CONTAINED ELSEWHERE IN THIS MASTER LEASE.
Appears in 1 contract
Condition of the Property. Tenant ▇▇▇▇▇▇ acknowledges receipt and delivery of possession of the Property and that Tenant ▇▇▇▇▇▇ has examined and otherwise has knowledge of the condition of the Property prior to the execution and delivery of this Lease and has found the same to be in good order and repair and satisfactory for its purposes hereunder. Regardless, however of any inspection made by Tenant of the Property and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Property "as is" in its present condition. Tenant waives and releases any claim or cause of action against Landlord with respect to the condition of the Property including any defects or adverse conditions latent or patent, matured or unmatured, known or unknown by Tenant or Landlord as of the date hereof. TENANT ACKNOWLEDGES THAT LANDLORD (WHETHER ACTING AS LANDLORD HEREUNDER OR IN ANY OTHER CAPACITY) HAS NOT MADE AND WILL NOT MAKE, NOR SHALL LANDLORD BE DEEMED TO HAVE MADE, ANY WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, INCLUDING ANY WARRANTY OR REPRESENTATION AS TO (i) ITS FITNESS, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE, (ii) THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, (iii) THE EXISTENCE OF ANY DEFECT, LATENT OR PATENT, (iv) LANDLORD'S TITLE THERETO, (v) VALUE, (vi) COMPLIANCE WITH SPECIFICATIONS, (vii) LOCATION, (viii) USE, (ix) CONDITION,, (x) MERCHANTABILITY, (xi) QUALITY, (xii) DESCRIPTION, (xiii) DURABILITY, (xiv) OPERATION, (xv) THE EXISTENCE OF ANY HAZARDOUS MATERIAL OR (xvi) COMPLIANCE OF THE PROPERTY WITH ANY LAW (INCLUDING ENVIRONMENTAL LAWS) OR LEGAL REQUIREMENTS. TENANT ACKNOWLEDGES THAT THE PROPERTY IS OF ITS SELECTION AND TO ITS SPECIFICATIONS AND THAT THE PROPERTY HAS BEEN INSPECTED BY TENANT AND IS SATISFACTORY TO IT. IN THE EVENT OF ANY DEFECT OR DEFICIENCY IN THE PROPERTY OF ANY NATURE, WHETHER LATENT OR PATENT, AS BETWEEN LANDLORD AND TENANT, LANDLORD SHALL NOT HAVE ANY RESPONSIBILITY OR LIABILITY WITH RESPECT THERETO OR FOR ANY INCIDENTAL OR CONSEQUENTIAL DAMAGES (INCLUDING STRICT LIABILITY IN TORT). THE PROVISIONS OF THIS SECTION 7.2 HAVE BEEN NEGOTIATED AND REVIEWED BY TENANT'S LEGAL COUNSEL, AND ARE INTENDED TO BE A COMPLETE EXCLUSION AND NEGATION OF ANY WARRANTIES BY LANDLORD, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, ARISING PURSUANT TO THE UNIFORM COMMERCIAL CODE OR ANY OTHER LAW NOW OR HEREAFTER IN EFFECT OR ARISING OTHERWISE. Tenant represents to Landlord that ▇▇▇▇▇▇ has examined the title to the Property prior to the execution and delivery of this Lease and has found the same to be satisfactory for the purposes contemplated hereby. Tenant acknowledges that (A) Tenant or an Affiliate of Tenant has previously operated the Property and has knowledge of its condition which is superior to that of Landlord, (B) fee simple title, except where the Property is held under a ground lease, (both legal and equitable) is in Landlord and that Tenant has only the leasehold right of possession and use of the Property as provided herein, (C) to Tenant's knowledge the Improvements conform to all material Legal Requirements and all material Insurance Requirements, (D) all easements necessary or appropriate for the use or operation of the Property have been obtained, (E) all contractors and subcontractors retained by Tenant who have performed work on or supplied materials to the Property have been fully paid, and all materials to the Property have been fully paid for, (F) the Improvements constructed by Tenant or any Affiliate of Tenant have been completed in all material respects in a workmanlike manner of first class quality, and (G) all equipment necessary or appropriate for the use or operation of the Property has been installed and is presently operative in all material respects.
Appears in 1 contract
Sources: Lease (Golf Trust of America Inc)
Condition of the Property. Tenant acknowledges receipt (a) Seller recommends that Purchaser employ one or more independent zoning consultants and delivery of possession engineering and/or environmental professionals to review zoning and to perform engineering, environmental and physical assessments on Purchaser’s behalf in respect of the Property and the condition thereof. Purchaser and Seller mutually acknowledge and agree that Tenant the Property is being sold in an “AS IS” condition and “WITH ALL FAULTS,” known or unknown, contingent or existing. Purchaser has examined and otherwise has knowledge of the sole responsibility to fully inspect the Property, to investigate all matters relevant thereto, including, without limitation, the condition of the Property prior Property, and to the execution and delivery of this Lease and has found the same to be in good order and repair and satisfactory for reach its purposes hereunder. Regardlessown, however independent evaluation of any inspection made by Tenant risks (environmental or otherwise) or rewards associated with the ownership, leasing, management and operation of the Property Property. Effective as of the Closing and whether or not any patent or latent defect or condition was revealed or discovered therebyexcept as expressly set forth in this Agreement, Tenant is leasing the Property "as is" in its present condition. Tenant Purchaser hereby waives and releases Seller and its officers, directors, shareholders, members, partners, agents, affiliates, employees and successors and assigns from and against any claim and all claims, obligations and liabilities arising out of or cause in connection with the Property.
(b) To the fullest extent permitted by law, Purchaser does hereby unconditionally waive and release Seller and its officers, directors, shareholders, members, partners, agents, affiliates and employees from any present or future claims and liabilities of action against Landlord with respect any nature arising from or relating to the condition presence or alleged presence of Hazardous Substances in, on, at, from, under or about the Property including or any defects adjacent property, including, without limitation, any claims under or adverse conditions latent on account of any Environmental Law, regardless of whether such Hazardous Substances are located in, on, at, from, under or patentabout the Property or any adjacent property prior to or after the date hereof (collectively, matured “Environmental Liabilities”); provided, however, that the foregoing release as it applies to Seller, its officers, directors, shareholders, members, partners, agents, affiliates and employees, will not release Seller from any Environmental Liabilities of Seller relating to any Hazardous Substances which may be placed, located or unmaturedreleased on the Property by Seller after the date of Closing. In addition, Purchaser does hereby covenant and agree to defend, indemnify, and hold harmless Seller, and Seller’s officers, directors, shareholders, members, partners, agents, affiliates and employees from and against any claims, demands, penalties, fines, liabilities, settlements, damages, costs or expenses of whatever kind or nature, known or unknown unknown, existing and future, including any action or proceeding brought or threatened, or ordered by Tenant governmental authorities, relating to any Hazardous Substances which may be placed, located or Landlord as of released on the Property after the date hereofof Closing. TENANT ACKNOWLEDGES THAT LANDLORD (WHETHER ACTING AS LANDLORD HEREUNDER OR IN ANY OTHER CAPACITY) HAS NOT MADE AND WILL NOT MAKE, NOR SHALL LANDLORD BE DEEMED TO HAVE MADE, ANY WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, INCLUDING ANY WARRANTY OR REPRESENTATION AS TO (i) ITS FITNESS, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE, (ii) THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, (iii) THE EXISTENCE OF ANY DEFECT, LATENT OR PATENT, (iv) LANDLORD'S TITLE THERETO, (v) VALUE, (vi) COMPLIANCE WITH SPECIFICATIONS, (vii) LOCATION, (viii) USE, (ix) CONDITION,The terms and provisions of this Section 3.3 will survive the Closing hereunder until the expiration of any applicable statute of limitations.
Appears in 1 contract
Sources: Purchase and Sale Agreement (Wells Real Estate Fund Ii)
Condition of the Property. Landlord acquired the Property on the Commencement Date and for the period of at least two (2) years prior to the Commencement Date, Tenant acknowledges receipt owned, occupied and delivery operated the Property. Tenant represents that it has examined the title of the Property, the physical condition of the Property, environmental studies and reports of the Property, and the economic feasibility of conducting Tenant's business in and from the Property. Tenant has determined that the same are satisfactory to Tenant, and Tenant accepts the Property on an "AS-IS, WHERE-IS" basis, subject to (a) the rights of any parties in possession and the existing state of the title as of the Commencement Date, (b) any state of facts which an accurate survey or physical inspection of the Property might show, (c) all zoning regulations, restrictions, rules and that Tenant has examined ordinances, building restrictions and otherwise has knowledge of other laws and regulations now in effect or hereafter adopted by any governmental authority having jurisdiction over the condition of any buildings, structures and other improvements located on the Property prior to the execution and delivery of this Lease and has found the same to be in good order and repair and satisfactory for its purposes hereunder. RegardlessProperty, however of any inspection made without representation or warranty by Tenant of the Property and whether or not any patent or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Property "as is" in its present condition. Tenant waives and releases any claim or cause of action against Landlord with respect to the condition of the Property including any defects or adverse conditions latent or patent, matured or unmatured, known or unknown by Tenant or Landlord as of the date hereofLandlord. TENANT ACKNOWLEDGES THAT LANDLORD (WHETHER ACTING AS LANDLORD HEREUNDER OR IN ANY OTHER CAPACITY) HAS NOT MADE AND WILL NOT MAKE, NOR SHALL LANDLORD BE DEEMED TO HAVE MADE, ANY WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, WITH RESPECT TO ANY OF THE PROPERTY, INCLUDING ANY WARRANTY OR REPRESENTATION AS TO (i) ITS FITNESSFITNESS FOR USE OR PURPOSE, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE, (ii) AS TO THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, (iii) THE EXISTENCE OF ANY DEFECT, LATENT OR PATENT, (iv) AS TO LANDLORD'S TITLE THERETO, (v) OR AS TO VALUE, (vi) COMPLIANCE WITH SPECIFICATIONS, (vii) LOCATION, (viii) USE, CONDITION, MERCHANTABILITY, QUALITY, DESCRIPTION, DURABILITY OR OPERATION. IT BEING AGREED THAT ALL RISKS INCIDENT THERETO ARE TO BE BORNE BY TENANT. Landlord shall not be obligated to provide or pay for any improvement work or services related to the Property. Tenant acknowledges that the Property is of its selection and to its specifications, and that the Property has been inspected by Tenant and is satisfactory to it. In the event of any defect or deficiency in any of the Property of any nature, whether patent or latent, Landlord shall not have any responsibility or liability with respect thereto or for any incidental or consequential damages (ix) CONDITION,including strict liability in tort).
Appears in 1 contract
Condition of the Property. Tenant acknowledges receipt The Property shall be conveyed from the City to the Developer on an “AS IS” condition and delivery of possession basis with all faults and the Developer agrees that the City has no obligation to make modifications, replacements or improvements thereto. Except as expressly and specifically provided in this Agreement, the Developer and anyone claiming by, through or under the Developer hereby waives its right to recover from and fully and irrevocably releases the City, and its elected and appointed officials, officers, directors, employees, representatives, agents, advisors, servants, attorneys, successors and assigns, and all persons, firms, corporations and organizations acting on the City’s behalf (collectively, the “Released Parties”) from any and all claims, responsibility and/or liability that the Developer may now have or hereafter acquire against any of the Property and that Tenant has examined and otherwise has knowledge of the condition of the Property prior to the execution and delivery of this Lease and has found the same to be in good order and repair and satisfactory Released Parties for its purposes hereunder. Regardlessany costs, however of any inspection made by Tenant of the Property and whether or not any patent or latent defect or condition was revealed or discovered therebyloss, Tenant is leasing the Property "as is" in its present condition. Tenant waives and releases any claim liability, damage, expenses, demand, action or cause of action against Landlord with respect arising from or related to the condition matters pertaining to the Property described in this Section 2.8. This release includes claims of which the Developer is presently unaware or which the Developer does not presently suspect to exist which, if known by the Developer, would materially affect the Developer’s release of the Released Parties. If the Property including any defects is not in a condition suitable for the intended use or adverse conditions latent or patentuses, matured or unmatured, known or unknown by Tenant or Landlord as then it is the sole responsibility and obligation of the date hereofDeveloper to take such action as may be necessary to place the Property in a condition suitable for development of the Project thereon. TENANT ACKNOWLEDGES THAT LANDLORD (WHETHER ACTING AS LANDLORD HEREUNDER Except as otherwise expressly and specifically provided in this Agreement and without limiting the generality of the foregoing, THE CITY MAKES NO REPRESENTATION OR IN ANY OTHER CAPACITY) HAS NOT MADE AND WILL NOT MAKE, NOR SHALL LANDLORD BE DEEMED TO HAVE MADE, ANY WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, INCLUDING ANY WARRANTY OR REPRESENTATION AS TO (i) ITS FITNESS, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE, THE VALUE OF THE PROPERTY; (ii) THE QUALITY OF INCOME TO BE DERIVED FROM THE MATERIAL OR WORKMANSHIP THEREIN, PROPERTY; (iii) THE EXISTENCE HABITABILITY, MARKETABILITY, PROFITABILITY, MERCHANTABILITY OR FITNESS FOR PARTICULAR USE OF ANY DEFECT, LATENT OR PATENT, THE PROPERTY; (iv) LANDLORD'S TITLE THERETOTHE MANNER, QUALITY, STATE OF REPAIR OR CONDITION OF THE PROPERTY; (v) VALUETHE COMPLIANCE OF OR BY THE PROPERTY OR ITS OPERATION WITH ANY LAWS, (vi) COMPLIANCE WITH SPECIFICATIONSRULES, (vii) LOCATION, (viii) USE, (ix) CONDITION,ORDINANCES OR REGULATIONS OF ANY APPLICABLE GOVERNMENTAL AUTHORITY OR BODY;
Appears in 1 contract
Sources: Purchase Agreement
Condition of the Property. Subject to Section 12.3 hereof, Tenant acknowledges receipt and delivery of possession of the Property and that Tenant has examined and otherwise has knowledge of the condition of the Property prior to the execution and delivery of this Lease and has found the same to be in good order and repair and satisfactory for its purposes hereunder. Landlord hereby represents and warrants to Tenant that Landlord has made available to Tenant or an Affiliate of Tenant all information in Landlord's possession regarding the condition of the Property prior to the date hereof. Regardless, however however, of any inspection made by Tenant of the Property and whether or not any patent or latent defect or condition was revealed or discovered thereby, subject to Section 12.3 hereof, Tenant is leasing the Property "as is" in its present condition. Subject to Section 12.3 hereof, Tenant waives and releases any claim or cause of action against Landlord with respect to the condition of the Property including any defects or adverse conditions latent or patent, matured or unmatured, known or unknown by Tenant or Landlord as of the date hereof. TENANT ACKNOWLEDGES THAT LANDLORD (WHETHER ACTING AS LANDLORD HEREUNDER OR IN ANY OTHER CAPACITY) HAS NOT MADE AND WILL NOT MAKE, NOR SHALL LANDLORD BE DEEMED TO HAVE MADE, ANY WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, INCLUDING ANY WARRANTY OR REPRESENTATION AS TO (i) ITS FITNESS, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE, (ii) THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, (iii) THE EXISTENCE OF ANY DEFECT, LATENT OR PATENT, (iv) LANDLORD'S TITLE THERETO, (v) VALUE, (vi) COMPLIANCE WITH SPECIFICATIONS, (vii) LOCATION, (viii) USE, (ix) CONDITION,, (x) MERCHANTABILITY, (xi) Tenant represents to Landlord that Tenant has examined the title to the Property prior to the execution and delivery of this Lease and has found the same to be satisfactory for the purposes contemplated hereby. Tenant acknowledges that fee simple title, except where the Property is held under a ground lease, (both legal and equitable) is in Landlord and that Tenant has only the leasehold right of possession and use of the Property as provided herein.
Appears in 1 contract
Sources: Lease (Golf Trust of America Inc)
Condition of the Property. Tenant acknowledges receipt 1. There is no litigation pending or threatened against the Property that might affect the Property or NBU’s ability to perform its obligations under this Agreement, and delivery NBU has not received notice of possession any violation of any law, ordinance, regulation, or requirement affecting the Property or NBU’s use of the Property. In addition, NBU is not aware of any hazardous materials or toxic substances on the Property and that Tenant has examined and otherwise has knowledge of the condition of the Property prior to the execution and delivery of this Lease and has found the same to be in good order and repair and satisfactory for its purposes hereunder. Regardless, however of not received any inspection made by Tenant of the Property and whether inquiries or not notices from any patent governmental authority or latent defect or condition was revealed or discovered thereby, Tenant is leasing the Property "as is" in its present condition. Tenant waives and releases any claim or cause of action against Landlord third party with respect to the condition presence of hazardous materials or toxic substances on the Property including any defects or adverse conditions latent the migration of hazardous materials or patenttoxic substances from the Property.
2. THE PROPERTY WILL BE TRANSFERRED TO THE CITY IN AN “AS IS, matured or unmaturedWHERE IS” CONDITION, known or unknown by Tenant or Landlord as of the date hereofWITH ALL FAULTS. TENANT ACKNOWLEDGES THAT LANDLORD ALL REPRESENTIONS OTHER THAN THE REPRESENTATION IN SECTION G.1. AND ALL WARRANTIES, EXCEPT THE LIMITED WARRANTY OF TITLE IN THE SPECIAL WARRANTY DEED, ARE EXPRESSLY DISCLAIMED.
3. AFTER THE TRANSFER, AS BETWEEN THE CITY AND NBU, THE RISK OF LIABILITY OR EXPENSE FOR ENVIRONMENTAL PROBLEMS, CONDITIONS, AND CLAIMS, EVEN IF ARISING FROM EVENTS BEFORE THE TRANSFER, WILL BE THE SOLE RESPONSIBILITY OF THE CITY, REGARDLESS OF WHETHER THE ENVIRONMENTAL PROBLEMS, CONDITIONS, OR CLAIMS, WERE KNOWN OR UNKNOWN AT TRANSFER, SUBJECT ONLY TO NBU’S BREACH OF ITS EXPRESS REPRESENTATION SET OUT IN SECTION G.1. ABOVE (WHETHER ACTING AS LANDLORD HEREUNDER “EXPRESS REPRESENTATION”). SUBJECT ONLY TO NBU’S BREACH OF SUCH EXPRESS REPRESENTATION, ONCE TRANSFER HAS OCCURRED, THE CITY RELEASES NBU FROM LIABILITY FOR ANY DEFECTS, LATENT OR OTHERWISE, AND FROM ANY LIABILITY FOR ENVIRONMENTAL PROBLEMS, CONDITIONS, OR CLAIMS, AFFECTING THE PROPERTY, INCLUDING BUT NOT LIMITED TO LIABILITY UNDER THE COMPREHENSIVE ENVIRONMENTAL RESPONSE, COMPENSATION, AND LIABILITY ACT (CERCLA), THE RESOURCE CONSERVATION AND RECOVERY ACT (RCRA), THE TEXAS SOLID WASTE DISPOSAL ACT, AND THE TEXAS WATER CODE.
4. EXCEPT FOR THE WARRANTY OF TITLE CONTAINED IN ANY OTHER CAPACITY) THE SPECIAL WARRANTY DEED AND THE REPRESENTATION IN SECTION G.1. OF THIS AGREEMENT, NBU HAS NOT MADE NOT, DOES NOT, AND WILL NOT MAKEMAKE ANY WARRANTIES, NOR SHALL LANDLORD BE DEEMED TO HAVE MADEGUARANTIES, ANY WARRANTY OR REPRESENTATIONREPRESENTATIONS, ORAL OR WRITTEN, PAST OR PRESENT, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, INCLUDING ANY WARRANTY OR REPRESENTATION AS TO CONCERNING (i) ITS FITNESS, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE, (iiI) THE QUALITY CONDITION OF THE MATERIAL PROPERTY OR WORKMANSHIP THEREINANY ELEMENT THEREOF, (iii) THE EXISTENCE OF ANY DEFECTINCLUDING, LATENT WITHOUT LIMITATION, WARRANTIES RELATED TO ENVIRONMENTAL CONDITIONS, SUITABILITY FOR HABITATION, MERCHANTABILITY OR PATENT, (iv) LANDLORD'S TITLE THERETO, (v) VALUE, (vi) COMPLIANCE WITH SPECIFICATIONS, (vii) LOCATION, (viii) USE, (ix) CONDITION,FITNESS FOR A PARTICULAR PURPOSE;
Appears in 1 contract
Sources: Real Estate Transfer Agreement