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4. "AS-IS" PURCHASE; RELEASE OF CITY
<br /> 4.1 Due Diligence and Time for Satisfaction of Conditions
<br /> Buyer has been given or will be given before the end of the Contingency Period (as
<br /> defined in Section 5 2), a full opportunity to investigate the Property, either independently or
<br /> through agents of Buyer's own choosing, including, without limitation, the opportunity to
<br /> conduct such appraisals, inspections, tests, audits, venfications, inventones, investigations and
<br /> other due diligence regarding the economic, physical, environmental, title and legal conditions of
<br /> the Property as Buyer deems fit, as well as the suitability of the Property for Buyer's intended
<br /> uses Buyer and its Agents may commence due diligence investigations on the Property on or
<br /> after the date Buyer and City enter into a permit to enter relating to the Property in form and
<br /> substance satisfactory to City
<br /> 4.2 uyer's Independent Investigation
<br /> Buyer represents and warrants to City that Buyer has performed, or will perform during
<br /> the Contingency Period, a diligent and thorough inspection and investigation of each and every
<br /> aspect of the Property, either independently or through agents of Buyer's choosing, including,
<br /> without limitation, the following matters (collectively, the "Property Conditions")
<br /> (a) All matters relating to title including, without limitation, the existence,
<br /> quality, nature and adequacy of City's interest in the Property and the existence of physically
<br /> open and legally sufficient access to the Property
<br /> (b) The zoning and other legal status of the Property, including, without
<br /> limitation,the compliance of the Property or its operation with any applicable codes, laws,
<br /> regulations, statutes, ordinances and private or public covenants, conditions and restrictions, and
<br /> all governmental and other legal requirements such as taxes, assessments, use permit
<br /> requirements and building and fire codes
<br /> (c) The quality, nature, adequacy and physical condition of the Property,
<br /> including, but not limited to, landscaping, and any electrical, mechanical, plumbing, sewage and
<br /> utility systems, facilities and appliance, the presence or absence of any physical encroachments
<br /> placed on, under, or across the Property, and all other physical and functional aspects of the
<br /> Property
<br /> (d) The quality, nature, adequacy, and physical, geological and environmental
<br /> condition of the Property (including soils and any groundwater), and the presence or absence of
<br /> any Hazardous Matenals in, on, under or about the Property or any other real property in the
<br /> vicinity of the Property As used in this Agreement, "Hazardous Material" shall mean any
<br /> material that, because of its quantity, concentration or physical or chemical characteristics, is
<br /> now or hereafter deemed by any federal, state or local governmental authority to pose a present
<br /> or potential hazard to human health or safety or to the environment
<br /> (e) The suitability of the Property for Buyer's intended uses
<br /> (f) The economics and development potential, if any, of the Property
<br /> (g) All other matters of material significance affecting the Property
<br /> 4.3 Property II isclos jres
<br /> California law requires sellers to disclose to buyers the presence or potential presence of
<br /> certain Hazardous Matenals Accordingly, Buyer is hereby advised that occupation of the
<br /> Property may lead to exposure to Hazardous Materials such as, but not limited to, gasoline,
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