GOOCH - PURCHASE AGMT - Laserfiche WebLink

(b) If the Seller chooses to develop the remainder of their property for residential land uses, the property sold to the Buyer can be used for residential density calculations; and (c) Surplus excavation material shall be stockpiled on ~ Seller's property at no cost to Buyer (the exact amount of the material is to be determined by Seller). 3. "As Is" Sale. Seller sells the Property to Buyer in its "as is" condition with no representations or warranties from the Seller. Buyer shall be permitted to make complete environmental, physical, legal and other inspections of the Property and of all other matters which in Buyer's judgment affect or influence the Buyer's intended use of the Property and Buyer's willingness to acquire the Property. Buyer's investigations shall include review of title records, taxes, permissible uses, soils, environmental matters, and accessibility and location of utilities and particularly, septic tank location. Buyer acknowledges that Seller has made no representations of any kind in connection with the value and suitability of the Property, soils, environmental, or physical conditions of the Property. In particular, Seller shall permit the Buyer, it agents, employees, or representatives to enter and complete soil and geotechnical testing of the Property. Buyer shall pay for such soil and geotechnical testing and not to allow liens or other encumbrances to be recorded against the Property. Buyer shall keep the Seller's Property free from any liens arising out any work performed, materials, furnished, or obligations of any kind whatsoever incurred by the Buyer, its agents, employees, or representatives as part of the soil and geotechnical testing. Buyer shall and will assume the defense and indemnify and save the Owner, its employees and agents, free and harmless from and against any and all claims, demands, liabilities and judgments for or by reason of any damage, loss, personal injury or death, caused by or arising out of Buyer, its agents, employees, or representative act or failure to act in the occupancy, maintenance, operation, or use of the Property as a result of soil and geotechnical testing. If following Buyer's investigation, Buyer determines that the purchase of the Property in as "as is" condition is not acceptable, then Buyer may terminate this Agreement without penalty. 4. Purchase In-Lieu of Condemnation. Buyer acknowledges that its purchase of the Property is in lieu of condemnation and Buyer shall take all appropriate actions to permit the Seller to claim for income tax purposes that the Buyer would have filed an 2