8.15. Violations. Seller has not received written notice of any federal, state, local, or other governmental building, zoning, health, safety, law, ordinance, or regulation violation with respect to the Real Property, that has not been cured, other than notice from a state agency concerning elevator repairs.
8.16. Patriot Act. Neither Seller nor any of its affiliated entities is in violation of any laws relating to terrorism or money laundering (“Anti-Terrorism Laws”), including Executive Order No. 13224 on Terrorist Financing, effective September 24, 2001 (the “Executive Order”), and the United and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Public Law No. 107-56. Neither Seller, nor, to the knowledge of Seller, any of its brokers or other agents acting in any capacity in connection with the sale of the Property: (i) deals in, or otherwise engages in any transaction relating to, any property or interests in property blocked pursuant to the Executive Order; or (iii) engages in or conspires to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempts to violate, any of the prohibitions set forth in any Anti-Terrorism Law.
Any representations made “to the best of Seller’s knowledge” shall be limited to the actual, subjective knowledge of Terry Gahan. All representations and warranties by Seller under this Agreement shall be modified to reflect information reported in any investigation hereafter made by or on behalf of Buyer or Seller, as the case may be, or any knowledge of Buyer or Seller, as the case may be, which first becomes known to Buyer or Seller after the Effective Date, provided, however, that if any resulting material changes in the representations or warranties of Seller are unacceptable to Buyer, Buyer may terminate this Agreement and the Earnest Money shall be refunded to Buyer. Seller will indemnify Buyer, its successors and assigns, against, and will hold Buyer, its successors and assigns, harmless from, any damages, including reasonable attorney’s fees, excluding consequential damages, that Buyer incurs if any of the above representations and warranties by Seller is discovered to have been untrue or inaccurate as of the Closing Date. Consummation of this Agreement by Buyer with knowledge of any such breach by Seller will constitute a waiver or release by Buyer of any claims due to such breach.
The representations, warranties, and indemnification set forth above shall survive the Closing of this transaction and Seller’s delivery of the Deed for a period of six (6) months after the Date of Closing.
- Casualty; Condemnation. If all or any part of the Property is substantially damaged by fire, casualty, the elements or any other cause, Seller shall immediately give notice to Buyer, and Buyer shall have the right to terminate this Agreement and receive back all Earnest Money by giving notice within thirty (30) days after Seller’s notice. To constitute “substantial” damage, the cost to repair or restore, as estimated by Seller, shall exceed
$200,000.00. If Buyer shall fail to give the notice, then the parties shall proceed to Closing, and Seller shall assign to Buyer all rights to insurance proceeds resulting from such event, and the Purchase Price shall be reduced by the deductible. If eminent domain proceedings are threatened or commenced against all or any part of the Property, Seller shall immediately give notice to Buyer, and Buyer shall have the right to terminate this