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Property, and the suitability or fitness of the Property for Quyer's proposed use. Buyer
<br />acknowledges and agrees that the Property is to be sold and accepted by Buyer in an
<br />"AS IS" condition, with all faults, and Buyer acknowledges that the Property may have
<br />been used for railroad and/or industrial purposes, among other uses. Buyer agrees that
<br />any information Buyer may receive frorn Seller or its agents concerning the Property
<br />(including, but not limited to, any lease or other document, engineering study or
<br />environmental assessment) is furnished on the condition that Buyer will make an
<br />independent verification of the accuracy of the information. Seller does not make any
<br />representations or warranties of any kind whatsoever, either express or implied, with
<br />respect to the Property; in particular, without limitation, Seiler makes no
<br />representations or warranties with respect to the use, contlition, title, occupation or
<br />management of the Property, or compliance with appiicable statutes, laws, codes,
<br />ordinances, regulations, requirements (coilectively "Condition of the Property"). Buyer
<br />acknowledges that it is entering into this Agreement on the basis of Buyer's own
<br />independent investigation of the physical and environmental conditions of the
<br />Property. Buyer assumes the risk that adverse physical and environmental conditions
<br />may not have been revealed by its investigation.
<br />B. FROM AND AFTER CLOSING, BUYER WILL RELEASE SELLER, AND, TO THE MAXIMUM
<br />EXTENT PERMITTED BY LAW, INDEMNIFY, DEFEND AND SAVE HARMLESS SELLER, ITS
<br />AFFILIATES, THEIR EMPLOYEES, AGENTS, OFFICERS, SUCCESSORS AND ASSIGNS, FROM
<br />AND AGAINST ANY AND ALL SUITS, ACTIONS, CAUSES OF ACTION, LEGAL OR
<br />ADMtNISTRATIVE PROCEEDINGS, CLAIMS, DEMANDS, FINES, PUNITIVE DAMAGES,
<br />LOSSES, COSTS, LIABILITIES AND EXPENSES, IIVCLUDING ATTORNEYS' FEES, IN ANY
<br />WAY ARISING OUT OF OR CONNECTED WITH THE KNOWN OR UNKNOWN CONDITION
<br />OF THE PROPERTY (INCLUDING, WITHOUT LIMITATION, ANY CONTAMINATION IN, ON,
<br />UNDER OR ADJACENT TO THE PROPERTY BY ANY HAZARDOUS OR TOXIC SUBSTANCE
<br />OR MATERIAL), OR ANY FEDERAL, STATE OR LOCAL LAW, ORDINANCE, RULE OR
<br />REGULATION APPLICABLE THERETO, INCLUDING, WITHOUT LIMITATION, THE TOXIC
<br />SUBSTANCES CONTROL ACT, THE COMPREHENSIVE ENVIRONMENTAL RESPONSE,
<br />COMPENSATION AND LIABILITY ACT, AND THE RESOURCE CONSERVATION AND
<br />RECOVERY ACT. THE FOREGOING WILL APPLY REGARDLESS OF ANY NEGLIGENCE OR
<br />STRICT LIABILITY OF SELLER, ITS AFFILIATES, OR THEIR EMPLOYEES, AGENTS OR
<br />OFFICERS.
<br />C. The provisions of this Article 4 will survive the delivery of the deed and will bind and
<br />inure to the benefit of the parties hereto, their heirs, successors and assigns.
<br />Article 5. Escrow. Title Insurance and Abstract of Title:
<br />A. Seller will not furnish title insurance or an abstract of title to the Property. Buyer may,
<br />at its sole option and expense, obtain a preliminary title report ("PTR") in order to
<br />review the status of title to the Property during the Feasibility Review Period. If Buyer
<br />obtains a PTR, a copy will be delivered to Seller. Seiler has no obligation to cure any title
<br />defects or to assist Buyer in obtaining title insurance.
<br />B. If Buyer desires title insurance, Buyer shall pay the cost of any title insurance and any
<br />endorsements or changes to the title policy desired by Buyer. If an escrow is used,
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