2009-048-ORD REZONE 1200 BLOCK OF 47TH ST SE

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CDn+merr/N Contract - Unlmpro od Properly Concemmp 4 rTH 9E 9TRLET. faPic Tr1►c O (1) Seller is not aware of any matenal detects to the Property oxcapt as Stalod In tho attached Property Condltron Statement. M (2) Seller Is not aware of any of the following, except as described olherwiso in thb conIMCL (a) any bubsurfuce: slrucluros. pits, waste, springs, or Improvemente, (b) any pending or- hrsntened litigation, condemnation, or assessment otfcctJng the Property: (c) any envlronmentol hazards or conditions that affect the Property; (d) whether the Property Is or has over boon used for the s ionsge or disposal of hazandouc materials or toxic waste, a dump site or landfill, or any underground tank-- or containers, (e) whether radon, asbeatos Insulation or fireproofing. urea- formaldehyde foam insulation, lead - based palm, toxic mold (to the extent that it adversely affects the health of ordinary occupants). or other pollutants or contamtnantz of any nature now oxl.t or over existed on the Property; in whether wetlands, as defined by federal or state law or regulation, are on the Property; and (g) whether fhrealenod or endangered species or their habitat are on Ins Property. (Dnacnbe anyoxcopbons to (a) -(q) In Paragraph 11 or an addendum.) Each written lease Seller Is to furnish to Buyer under this contracl must be In full force and effect according to da terms without amendment or modifloallon that is not disclosed to Buyer In writing. Seller must disclose, In writing, to Buyer If any of the following exist at the time Seller provides the leases to Buyer or subsequently occur before dosing: (1) any modifications, amendments, or default by landlord or tenant under the leases, (2) any failure by Seller to cempfy with Sollor's obligations under the Ie3ees; (3) any circumstances under the lease that entitle the tenant to tcrminato the lease or seek any offsets or damages; (d) any non-occupancy of the leased premises by a tenant; (5) any advance sums paid by a tenant under the lease; (6) any concessions, bonuses, free rents, rebates, brokerage commissions, or other madam that affect any lease; and _(7.Lany amounta payable under.the leases that havo been assigned or encumbered, except ad Vacurlty for loan(s) assumed or taken subject to under this contma. 19. NOTICES: All noticos between the partles under this conbv t must be In writing and are effective when nand- delivened, mailed by certifiod mall return receipt roquostod, or sent by facsimile transmission to the parties addresses or facsimile numbers stated In Paragraph 1. The parties will trend copies of any no600a to the broker ropres:onting the party to whom the notices are sent. 20. FEDERAL TAX REQUIREMENT: if Seller in a 'foreign person' as defined by applicable law, or A Seller falls to doltver at closing an affidavit that Seller is not a foreign person, then Buyor will withhold from the sales proceeds at dosing any amount sufficient to comply with applicoblo tax law and dellver the amount withhold to the Internal Revenue Santee (IRS), togolher with appropriate tax forms. IRS regulations require filing written reports If currency In excess of spocifled amounts Is received in the transaction. 21. DISPUTE RESOLUTION- The parties agree to nogotlale In good faith in qn effort to resolve any dispute rol ®led to this contract that may, arise. if the dispute cannot be resolved by negotlation, the parties will submit the dispute to mediation before resorting to arbitration or litigation and will equally share the costs of e mutually acceptable mediator. This paragraph survlvoc termination of this contract. This paragraph does not preclude a party from seeking equitable relief from a court of competent )urisdlct)on 22. AGREEMENT OF THE PARTIES: A. This contnoct is binding on the parties, their heirs, executors, representatives, successors, and permitted assigns. (rnR•1130212 .6d2 InitWwJ for Idanlincallon by Buyer _ Seller Papa 10 of 13 �.��•-'-'— .._.. —�, �w +�..- ..w +�.r� r►e .. r�.+. o+. Lei rw ra rWrr Im +u riy— ....,.r ..�✓or�auwccr im