1.3 Warranties. All unexpired warranties, guaranties and bonds, including without limitation, contractors’ and manufacturers’ warranties or guaranties relating to the Real Property, to the extent assignable (the “Warranties”).
1.4 Plans. All site plans, surveys, soil and substance studies, architectural drawings, plans and specifications, engineering, electrical and mechanical plans and studies, floor plans, landscape plans, environmental assessment reports, engineering, structural or physical inspection reports, appraisals and other plans and studies of any kind, in Seller’s possession or control, relating to the Real Property (the “Plans”).
2. Purchase Price. The purchase price (the “Purchase Price”) for the Property shall be the amount of One Million Five Hundred Thousand and 00/100 Dollars ($1,500,000.00) The Purchase Price shall be paid to Seller after application of all credits, all adjustments and all prorations, and shall be payable to Seller by immediately available funds on the Date of Closing.
3. Seller’s Representations and Warranties. To Seller’s knowledge, Seller represents and warrants to Purchaser as a material inducement to Purchaser to enter into this Agreement and purchase the Property as follows:
3.1 Compliance. Seller has not received any currently unresolved written notice declaring that any current use or occupancy of the Property violates any applicable building, zoning, subdivision, health and safety laws or regulations and other land use requirements or any insurance requirements affecting the Property.
3.2 No Contracts. Except as described on Schedule 3.8 of this Agreement, there are no Contracts to which Seller is a party (including, but not limited to, maintenance, repair, operation, use, billboard, advertising, management, license, franchise, service, use, occupancy, provider, equipment, maintenance or other contracts) which shall be binding upon Purchaser or which shall run with the land or bind or affect any part of the Property after the Closing, unless Purchaser expressly consents thereto.
3.3 No Third Party Interests. Except as described on Schedule 3.9 of this Agreement, there is no option, contract or other agreement of any kind or nature with respect to the purchase, sale or lease of the Real Property, or any portion thereof.
3.4 FIRPTA. Seller is not a foreign corporation, foreign partnership, foreign trust or foreign estate (as those items are defined in the Internal Revenue Code and Income Tax Regulations).
3.5 Lease Defaults. No default exists under the Company Lease or any condition which with the passage of time or notice would constitute a default under any such Company Lease; and, except for the termination contemplated at Section 4.2(d) herein, Seller has not received any notice or correspondence from Astro Machine or Astro Machine’s agents indicating Astro Machine’s desire, willingness or intent to amend, modify or terminate the Company Lease.
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