Common use of Natural Hazard Disclosures Clause in Contracts

Natural Hazard Disclosures. Seller has delivered to Buyer a Natural Hazard Disclosure Statement (each, a “Disclosure Statement”) in a form required by the California Natural Hazard Laws (defined below) for each Individual Property. Seller retained the services of First American Natural Hazard Disclosures (the “Company”) to examine the maps and other information made available to the public by government agencies for the purpose of enabling Seller to fulfill its disclosure obligations with respect to the California Natural Hazard Laws and to prepare the written report of the result of its examination (each, a “Report”). Buyer acknowledges that, if prepared in conformity with all applicable laws, rules and regulations, each Report shall fully and completely discharge Seller from its disclosure obligations under the California Natural Hazard Laws (defined below) and under California Civil Code Sections 1102 through 1102.17 with regard to the applicable Individual Property. Buyer acknowledges and agrees that nothing contained in any Disclosure Statement shall release Buyer from its obligation to fully investigate and satisfy itself with the condition of the Property during the Inspection Period, including, without limitation, whether the Property is located in any California Natural Hazard Area. As used herein, the term “California Natural Hazard Area” shall mean those areas identified as natural hazard areas or natural hazards in the Natural Hazard Disclosure Act, California Government Code Sections 8589.3, 8589.4 and 51183.5, and California Public Resources Code Sections 2621.9, 2694 and 4136, and any successor statutes or laws (collectively the “California Natural Hazard Laws”). Buyer further acknowledges and agrees that the matters set forth in each Disclosure Statement or Report may change on or prior to the Closing and that Seller has no obligation to update, modify or supplement any Disclosure Statement or Report. Buyer is solely responsible for preparing and delivering its own Disclosure Statement to subsequent prospective buyers of any Individual Property. The terms of this Section 4(h) shall survive the Closing.

Natural Hazard Disclosures. Seller has delivered to Buyer a Natural Hazard Disclosure Statement (each, a “Disclosure Statement”) in a form required by the California Natural Hazard Laws (defined below) for each Individual Property. Seller retained the services of First American Natural Hazard Disclosures (the “Company”) to examine the maps and other information made available to the public by government agencies for the purpose of enabling Seller to fulfill its disclosure obligations with respect to the California Natural Hazard Laws and to prepare the written report of the result of its examination (each, a “Report”). Buyer acknowledges that, if prepared in conformity with all applicable laws, rules and regulations, each Report shall fully and completely discharge Seller from its disclosure obligations under the California Natural Hazard Laws (defined below) and under California Civil Code Sections 1102 through 1102.17 with regard to the applicable Individual Property. Buyer acknowledges and agrees that nothing contained in any Disclosure Statement shall release Buyer from its obligation to fully investigate and satisfy itself with the condition of the Property during the Inspection Period, including, without limitation, whether the Property is located in any California Natural Hazard Area. As used herein, the term “California Natural Hazard Area” shall mean those areas identified as natural hazard areas or natural hazards in the Natural Hazard Disclosure Act, California Government Code Sections 8589.3, 8589.4 and 51183.5, and California Public Resources Code Sections 2621.9, 2694 and 4136, and any successor statutes or laws (collectively the “California Natural Hazard LawsAct”). Buyer hereby acknowledges that, prior to the Effective Date, Seller has (or has caused Title Company to provide) provided Buyer with a Natural Hazard Disclosure Statement (the “Disclosure Statement”) in a form required by the Act. Buyer acknowledges that Seller retained the services of Title Company to examine the maps and other information made available to the public by government agencies for the purpose of enabling Seller to fulfill its disclosure obligations with respect to the Act and to prepare the written report of the result of its examination (the “Report”). Buyer acknowledges that the Report fully and completely discharges Seller from its disclosure obligations under the Act and under California Civil Code Sections 1102 through 1102.17. Bxxxx acknowledges and agrees that nothing contained in the Disclosure Statement releases Buyer from its obligation to fully investigate and satisfy itself with the condition of the Property during the Due Diligence Period, including, without limitation, whether the Property is located in any Natural Hazard Area. Bxxxx further acknowledges and agrees that the matters set forth in each the Disclosure Statement or Report may change on or prior to the Closing and that Seller has no obligation to update, modify or supplement any the Disclosure Statement or Report. Buyer is solely responsible for preparing and delivering its own Disclosure Statement to subsequent prospective buyers purchasers of any Individual the Property. The terms of this Section 4(h) shall survive the Closing.

Natural Hazard Disclosures. Seller has delivered to Buyer a Natural Hazard Disclosure Statement (each, a “Disclosure Statement”) in a form required by the California Natural Hazard Laws (defined below) for each Individual Property. Seller retained the services of First American Natural Hazard Disclosures (the “Company”) to examine the maps and other information made available to the public by government agencies for the purpose of enabling Seller to fulfill its disclosure obligations with respect to the California Natural Hazard Laws and to prepare the written report of the result of its examination (each, a “Report”). Buyer acknowledges that, if prepared in conformity with all applicable laws, rules and regulations, each Report shall fully and completely discharge Seller from its disclosure obligations under the California Natural Hazard Laws (defined below) and under California Civil Code Sections 1102 through 1102.17 with regard to the applicable Individual Property. Buyer acknowledges and agrees that nothing contained in any Disclosure Statement shall release Buyer from its obligation to fully investigate and satisfy itself with the condition of the Property during the Inspection Period, including, without limitation, whether the Property is located in any California Natural Hazard Area. As used herein, the term “California Natural Hazard Area” shall mean those areas identified as natural hazard areas or natural hazards in the Natural Hazard Disclosure Act, California Government Code Sections 8589.3, 8589.4 and 51183.5, and California Public Resources Code Sections 2621.9, 2694 and 4136, and any successor statutes or laws (collectively the “Act”). The Purchaser hereby acknowledges that, prior to the expiration of the Due Diligence Period with respect to environmental matters, the El Segundo Seller, the Oakland Seller and the San Francisco Seller (collectively, the “California Sellers”) have provided the Purchaser with Natural Hazard LawsDisclosure Statements (collectively, the “Disclosure Statements”) in a form required by the Act for the El Segundo Property, Oakland Property and San Francisco Property. The Purchaser acknowledges that the California Sellers retained the services of the Title Company to examine the maps and other information made available to the public by government agencies for the purpose of enabling the California Sellers to fulfill their disclosure obligations with respect to the Act and to prepare the written reports of the result of their examination (collectively, the “Natural Hazard Reports”). Buyer The Purchaser acknowledges that the Natural Hazard Reports fully and completely discharge the Sellers from their disclosure obligations under the Act and under California Civil Code Sections 1102 through 1102.17. The Purchaser acknowledges and agrees that nothing contained in the Disclosure Statements release the Purchaser from its obligation to fully investigate and satisfy itself with the condition of the Properties, including, without limitation, whether any Property is located in any Natural Hazard Area. The Purchaser further acknowledges and agrees that the matters set forth in each the Disclosure Statement Statements or Report the Natural Hazard Reports may change on or prior to the Closing and that Seller has the California Sellers have no obligation to update, modify or supplement any the Disclosure Statement Statements or Reportthe Natural Hazard Reports. Buyer The Purchaser is solely responsible for preparing and delivering its own Disclosure Statement Statements to subsequent prospective buyers purchasers of any Individual Property. The terms of this Section 4(h) shall survive the ClosingProperties.

Natural Hazard Disclosures. Seller has delivered to Buyer a Natural Hazard Disclosure Statement (each, a “Disclosure Statement”) in a form required by the California Natural Hazard Laws (defined below) for each Individual Property. Seller retained the services of First American Natural Hazard Disclosures (the “Company”) to examine the maps and other information made available to the public by government agencies for the purpose of enabling Seller to fulfill its disclosure obligations with respect to the California Natural Hazard Laws and to prepare the written report of the result of its examination (each, a “Report”). Buyer acknowledges that, if prepared in conformity with all applicable laws, rules and regulations, each Report shall fully and completely discharge Seller from its disclosure obligations under the California Natural Hazard Laws (defined below) and under California Civil Code Sections 1102 through 1102.17 with regard to the applicable Individual Property. Buyer acknowledges and agrees that nothing contained in any Disclosure Statement shall release Buyer from its obligation to fully investigate and satisfy itself with the condition of the Property during the Inspection Period, including, without limitation, whether the Property is located in any California Natural Hazard Area. As used herein, the term “California Natural Hazard Area” shall mean those areas identified as natural hazard areas or natural hazards in the Natural Hazard Disclosure Act, California Government Code Sections 8589.3, 8589.4 and 51183.5, and California Public Resources Code Sections 2621.9, 2694 and 4136, and any successor statutes or laws (collectively the “California Natural Hazard Laws”). Buyer Purchaser hereby acknowledges that, prior to the date of this Agreement, Seller has provided Purchaser with a Natural Hazard Disclosure Statement (the “California NHDS”) in a form required by the California Natural Hazard Laws. Purchaser acknowledges that Seller retained the services of The Planning & Zoning Resource Corporation to examine the maps and other information made available to the public by government agencies for the purpose of enabling Seller to fulfill its disclosure obligations with respect to the California Natural Hazard Laws and to prepare the written report of the result of its examination (the “California Natural Hazard Report”). Purchaser acknowledges that the California Natural Hazard Report fully and completely discharges Seller from its disclosure obligations under the California Natural Hazard Laws and under California Civil Code Sections 1102 through 1102.17. Purchaser acknowledges and agrees that nothing contained in the California NHDS releases Purchaser from its obligation to fully investigate and satisfy itself with the condition of the Property during the Inspection Period, including, without limitation, whether the Property is located in any California Natural Hazard Area. Purchaser further acknowledges and agrees that the matters set forth in each Disclosure Statement the California NHDS or California Natural Hazard Report may change on or prior to the Closing and that Seller has no obligation to update, modify or supplement any Disclosure Statement the California NHDS or California Natural Hazard Report. Buyer Purchaser is solely responsible for preparing and delivering its own Disclosure Statement California NHDS to subsequent prospective buyers purchasers of any Individual the Property. The terms of this Section 4(h) shall survive the Closing.

Natural Hazard Disclosures. Seller has delivered to Buyer a Natural Hazard Disclosure Statement (each, a “Disclosure Statement”) in a form required by the California Natural Hazard Laws (defined below) for each Individual Property. Seller retained the services of First American Natural Hazard Disclosures (the “Company”) to examine the maps and other information made available to the public by government agencies for the purpose of enabling Seller to fulfill its disclosure obligations with respect to the California Natural Hazard Laws and to prepare the written report of the result of its examination (each, a “Report”). Buyer acknowledges that, if prepared in conformity with all applicable laws, rules and regulations, each Report shall fully and completely discharge Seller from its disclosure obligations under the California Natural Hazard Laws (defined below) and under California Civil Code Sections 1102 through 1102.17 with regard to the applicable Individual Property. Buyer acknowledges and agrees that nothing contained in any Disclosure Statement shall release Buyer from its obligation to fully investigate and satisfy itself with the condition of the Property during the Inspection Period, including, without limitation, whether the Property is located in any California Natural Hazard Area. As used herein, the term “California Natural Hazard Area” shall mean those areas identified as natural hazard areas or natural hazards in the Natural Hazard Disclosure Act, California Government Code Sections 8589.3, 8589.4 and 51183.5, and California Public Resources Code Sections 2621.9, 2694 and 4136, and any successor statutes or laws (collectively the “California Natural Hazard LawsAct”). Buyer Purchaser hereby acknowledges that, prior to the date of this Agreement, Seller has provided Purchaser with a Natural Hazard Disclosure Statement (the “Disclosure Statement”) in a form required by the Act. Seller has retained the services of a qualified party to examine the maps and other information made available to the public by government agencies for the purpose of enabling Seller to fulfill its disclosure obligations with respect to the Act and to prepare the written report of the result of its examination (the “Report”). Purchaser acknowledges receipt of the Report and that the Report fully and completely discharges Seller from its disclosure obligations under the Act and under California Civil Code Sections 1102 through 1102.17. Purchaser acknowledges and agrees that nothing contained in the Disclosure Statement releases Purchaser from its obligation to fully investigate and satisfy itself with the condition of the Property prior to the Execution Date, including, without limitation, whether the Property is located in any Natural Hazard Area. Purchaser further acknowledges and agrees that the matters set forth in each the Disclosure Statement or Report may change on or prior to the Closing and that Seller has no obligation to update, modify or supplement any the Disclosure Statement or Report. Buyer Purchaser is solely responsible for preparing and delivering its own Disclosure Statement to subsequent prospective buyers purchasers of any Individual the Property. The terms of this Section 4(h) shall survive the Closing.

Natural Hazard Disclosures. Seller has delivered to Buyer a Natural Hazard Disclosure Statement (each, a “Disclosure Statement”) in a form required by the California Natural Hazard Laws (defined below) for each Individual Property. Seller retained the services of First American Natural Hazard Disclosures (the “Company”) to examine the maps and other information made available to the public by government agencies for the purpose of enabling Seller to fulfill its disclosure obligations with respect to the California Natural Hazard Laws and to prepare the written report of the result of its examination (each, a “Report”). Buyer acknowledges that, if prepared in conformity with all applicable laws, rules and regulations, each Report shall fully and completely discharge Seller from its disclosure obligations under the California Natural Hazard Laws (defined below) and under California Civil Code Sections 1102 through 1102.17 with regard to the applicable Individual Property. Buyer acknowledges and agrees that nothing contained in any Disclosure Statement shall release Buyer from its obligation to fully investigate and satisfy itself with the condition of the Property during the Inspection Period, including, without limitation, whether the Property is located in any California Natural Hazard Area. As used herein, the term “California Natural Hazard Area” shall mean those areas identified as natural hazard areas or natural hazards in the Natural Hazard Disclosure Act, California Government Code Sections 8589.3, 8589.4 and 51183.5, and California Public Resources Code Sections 2621.9, 2694 and 4136, and any successor statutes or laws (collectively the “California Natural Hazard LawsAct”). Buyer Purchaser hereby acknowledges that, prior to the Date of this Agreement, Seller has provided Purchaser with a Natural Hazard Disclosure Statement (the “Disclosure Statement”) in a form required by the Act. Purchaser acknowledges that Seller retained the services of LGS Reports, Inc. to examine the maps and other information made available to the public by government agencies for the purpose of enabling Seller to fulfill its disclosure obligations with respect to the Act and to prepare the written report of the result of its examination (the “Report”). Purchaser acknowledges that the Report fully and completely discharges Seller from its disclosure obligations under the Act and under California Civil Code Sections 1102 through 1102.17. Purchaser acknowledges and agrees that nothing contained in the Disclosure Statement releases Purchaser from its obligation to fully investigate and satisfy itself with the condition of the Property during the Due Diligence Period, including, without limitation, whether the Property is located in any Natural Hazard Area. Purchaser further acknowledges and agrees that the matters set forth in each the Disclosure Statement or Report may change on or prior to the Closing Date and that Seller has no obligation to update, modify or supplement any the Disclosure Statement or Report. Buyer Purchaser is solely responsible for preparing and delivering its own Disclosure Statement to subsequent prospective buyers purchasers of any Individual the Property. The terms of this Section 4(h) shall survive the Closing.

Natural Hazard Disclosures. Seller has delivered to Buyer a Natural Hazard Disclosure Statement (each, a “Disclosure Statement”) in a form required by the California Natural Hazard Laws (defined below) for each Individual Property. Seller retained the services of First American Natural Hazard Disclosures (the “Company”) to examine the maps and other information made available to the public by government agencies for the purpose of enabling Seller to fulfill its disclosure obligations with respect to the California Natural Hazard Laws and to prepare the written report of the result of its examination (each, a “Report”). Buyer acknowledges that, if prepared in conformity with all applicable laws, rules and regulations, each Report shall fully and completely discharge Seller from its disclosure obligations under the California Natural Hazard Laws (defined below) and under California Civil Code Sections 1102 through 1102.17 with regard to the applicable Individual Property. Buyer acknowledges and agrees that nothing contained in any Disclosure Statement shall release Buyer from its obligation to fully investigate and satisfy itself with the condition of the Property during the Inspection Period, including, without limitation, whether the Property is located in any California Natural Hazard Area. As used herein, the term “California Natural Hazard Area” shall mean those areas identified as natural hazard areas or natural hazards in the Natural Hazard Disclosure Act, California Government Code Sections 8589.3, 8589.4 and 51183.5, and California Public Resources Code Sections 2621.9, 2694 and 4136, and any successor statutes or laws (collectively the “California Natural Hazard LawsAct”). Buyer Prior to the Closing Date, each Seller shall provide Purchaser with a Natural Hazard Disclosure Statement (the “Disclosure Statement”) in a form required by the Act. Purchaser acknowledges that Sellers shall retain the services of a qualified party to examine the maps and other information made available to the public by government agencies for the purpose of enabling each Seller to fulfill its disclosure obligations with respect to the Act and to prepare the written report of the result of its examination (the “Report”). Purchaser acknowledges that the Report fully and completely discharges each Seller from its disclosure obligations under the Act and under California Civil Code Sections 1102.1 through 1102.17. Purchaser acknowledges and agrees that nothing contained in the Disclosure Statement releases Purchaser from its obligation to fully investigate and satisfy itself with the condition of the Property, including, without limitation, whether the Property is located in any Natural Hazard Area. Purchaser further acknowledges and agrees that the matters set forth in each the Disclosure Statement or Report may change on or prior to the Closing and that no Seller has no shall have any obligation to update, modify or supplement any the Disclosure Statement or Report. Buyer Purchaser is solely responsible for preparing and delivering its own Disclosure Statement to subsequent prospective buyers purchasers of any Individual the Property. The terms of this Section 4(h) shall survive the Closing.

Natural Hazard Disclosures. Seller has delivered to Buyer a Natural Hazard Disclosure Statement (each, a “Disclosure Statement”) in a form required by the California Natural Hazard Laws (defined below) for each Individual Property. Seller retained the services of First American Natural Hazard Disclosures (the “Company”) to examine the maps and other information made available to the public by government agencies for the purpose of enabling Seller to fulfill its disclosure obligations with respect to the California Natural Hazard Laws and to prepare the written report of the result of its examination (each, a “Report”). Buyer acknowledges that, if prepared in conformity with all applicable laws, rules and regulations, each Report shall fully and completely discharge Seller from its disclosure obligations under the California Natural Hazard Laws (defined below) and under California Civil Code Sections 1102 through 1102.17 with regard to the applicable Individual Property. Buyer acknowledges and agrees that nothing contained in any Disclosure Statement shall release Buyer from its obligation to fully investigate and satisfy itself with the condition of the Property during the Inspection Period, including, without limitation, whether the Property is located in any California Natural Hazard Area. As used herein, the term “California "Natural Hazard Area” " shall mean those areas identified as natural hazard areas or natural hazards in the Natural Hazard Disclosure Act, California Government Code Sections 8589.3, 8589.4 and 51183.5, and California Public Resources Code Sections 2621.9, 2694 and 4136, and any successor statutes or laws (collectively the “California "Act"). Seller shall use reasonable efforts to have the Title Company prepare and provide to Buyer a Natural Hazard Laws”Disclosure Statement (the "Disclosure Statement") in a form required by the Act no later than ten (10) Business Days prior to the expiration of the Due Diligence Period. Buyer acknowledges that Seller shall retain the services of the Title Company to examine the maps and other information made available to the public by government agencies for the purpose of enabling Seller to fulfill its disclosure obligations with respect to the Act and to prepare the written report of the result of its examination (the "Report"). Buyer acknowledges that the Report fully and completely discharges Seller from its disclosure obligations under the Act and under California Civil Code Sections 1102 through 1102.17. Buyer acknowledges and agrees that nothing contained in the Disclosure Statement limits Buyer from its opportunity to fully investigate and satisfy itself with the condition of the Property during the Due Diligence Period, including, without limitation, whether the Property is located in any Natural Hazard Area. Buyer further acknowledges and agrees that the matters set forth in each the Disclosure Statement or Report may change on or prior to the Closing and that Seller has no obligation to update, modify or supplement any the Disclosure Statement or Report. Buyer is solely responsible for preparing and delivering its own Disclosure Statement to subsequent prospective buyers purchasers of any Individual the Property. The terms of this Section 4(h) shall survive the Closing.