Statutory Disclosures Clause Samples
A statutory disclosures clause requires parties to provide information or documents mandated by law as part of their contractual relationship. This may include disclosures about financial status, conflicts of interest, or compliance with specific regulations, depending on the nature of the agreement and applicable laws. The core function of this clause is to ensure that all legally required information is shared, thereby promoting transparency and helping the parties avoid legal penalties or disputes arising from nondisclosure.
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Statutory Disclosures. Purchaser acknowledges and agrees that the sole inquiry and investigation Seller has conducted in connection with the environmental condition of the Property is to provide the Environmental Reports provided to Purchaser in the Seller Due Diligence Materials, and that, for purposes of California Health and Safety Code Section 25359.7, Seller has acted reasonably in relying upon said inquiry and investigation and the delivery of such reports constitutes written notice to Purchaser under such code section. Furthermore, pursuant to 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, Seller has provided to Purchaser a Natural Hazard Disclosure Report for the Property dated January 11, 2011 prepared by Disclosure Save (the “Disclosure”) Purchaser acknowledges and agrees that nothing contained in the Disclosure shall release Purchaser from its obligation to fully investigate 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 the Disclosure may change on or prior to the Closing and that Seller has no obligation to update, modify, or supplement the Disclosure.
Statutory Disclosures. Whether or not the Property is zoned for residential use, PBC acknowledges and agrees it does not intend to use the Property for residential purposes. PBC and Owner acknowledge that the Real Property constitutes "Commercial Real Estate" as defined in RCW 64.06.005. PBC waives receipt of the seller disclosure statement required under RCW 64.06 for transactions involving the sale of commercial real estate, except for the section entitled "Environmental". The Environmental section of the seller disclosure statement will be completed by Owner prior to the Closing. PBC further acknowledges and agrees that once delivered the Disclosure Statement (a) is for the purposes of disclosure only, (b) will not be considered part of this Agreement, and (c) will not be construed as a representation or warranty of any kind by the Owner.
Statutory Disclosures. Employee represents that by signing this Agreement, Employee has carefully read the foregoing, has had sufficient opportunity to review and deliberate the foregoing with counsel of Employee’s own choosing, knows and understands the contents of this Agreement, and signs this Agreement as a free and independent act. Employee hereby is specifically advised to consult with an attorney before executing this Agreement. Employee acknowledges and agrees that no inducements, representations, or agreements have been made or relied upon to make this Agreement, except as expressly stated herein, and that Employee is waiving certain rights Employee might otherwise have had. (a) Employee was presented with this Agreement on May 30, 2019 and is being given twenty-one (21) calendar days from that date within which to consider accepting and being bound by the terms of this Agreement. Employee represents that Employee understands and acknowledges that Employee’s release and waiver of claims is exchanged for the separation payments described above in Section 1 and other consideration described elsewhere in this Agreement, which Employee would not otherwise be entitled to receive from the Bank.
Statutory Disclosures. A. □ LEAD-BASED PAINT (if checked): Premises were constructed prior to 1978. In accordance with federal law, Owner gives and ▇▇▇▇▇▇ acknowledges receipt of disclosures on the attached form and a federally approved pamphlet.
Statutory Disclosures. The following statutory disclosures are hereby made by Seller to Purchaser:
A. Virginia Property Owners' Association Act Seller represents that as of the date of this Agreement, the Property is not located within a development which is subject to the Virginia Property Owners' Association Act, Code of Virginia, 1950, 55-508 through 55-516.2 as amended (the "Act").
Statutory Disclosures. Not more than ten (10) calendar days after the Effective Date, Seller shall provide Buyer with (a) a Natural Hazards Disclosure Report (issued by the Title Company or other reputable service or provider) (the “NHDS”), and (b) if and to the extent required by law and not addressed by the NHDS, the disclosures described in Exhibit D attached hereto.
Statutory Disclosures. City staff handling the sale of the Property on behalf of City have no actual knowledge of the following with respect to the Property: (1) the presence of a well, underground storage tank or subsurface sewage treatment system; or (2) methamphetamine production on the Property.
Statutory Disclosures. The following required disclosures are acknowledged by the Buyer:
a) Radon Gas. Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained from the County public health unit.
b) Energy Efficiency. In accordance with Section 553.996, Florida Statutes, as a prospective purchaser of real property with a building for occupancy located thereon, Buyer is hereby notified that Buyer, at ▇▇▇▇▇’s expense, may obtain an energy-efficiency rating on the building. Information regarding energy-efficiency ratings and energy-efficiency raters for commercial buildings can be found at ▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇.▇▇▇/resource/rater-search/
Statutory Disclosures. Seller’s employees directly handling the sale of the Property on behalf of Seller have no actual knowledge of the following with respect to the Property: (1) the presence of a well, underground storage tank or subsurface sewage treatment system; or
Statutory Disclosures. If applicable, prior to signing this Contract, Buyer: 36 [check one] ❑ has ❑ has not received a completed Illinois Residential Real Property Disclosure Report (4 units or less) 37 [check one] ❑ has ❑ has not received the EPA Pamphlet, “Protect Your Family From Lead in Your Home” 38 [check one] ❑ has ❑ has not received a Lead-Based Paint Disclosure 39 [check one ]❑ has ❑ has not received the IEMA Pamphlet “Radon Testing Guidelines for Real Estate Transactions” 40 [check one] ❑ has ❑ has not received the Disclosure of Information on Radon Hazards