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DRAFT <br />mechanics' or materialmen's liens or parties in possession, and (iii) a settlement statement with respect to the <br />Closing. Buyer shall execute and deliver to Escrow Agent a settlement statement with respect to the Closing, <br />and such other closing documents as may be reasonably necessary to consummate the transactions <br />contemplated herein. Unless otherwise provided herein, all documents and funds necessary for Closing shall <br />be deposited in escrow at least two (2) business days prior to the Closing Date. At Closing, the Title Company <br />shall: (i) deliver the Deed to Buyer by filing the Deed for record in the public records for the jurisdiction in <br />which the Property is located; (ii) issue the Title Policy; and (iii) charge Buyer for the closing costs as set <br />forth in Section 5 above. Seller shall deliver exclusive possession of the Property to Buyer at the Closing, <br />except for the rights of any parties under the Permitted Exceptions. <br />SECTION 7 - CONDITION OF PROPERTY. <br />7.1 - "As -Is" Condition. BUYER HEREBY EXPRESSLY ACKNOWLEDGES AND AGREES <br />THAT BUYER WILL HAVE, AS OF CLOSING, THOROUGHLY INSPECTED AND EXAMINED THE <br />STATUS OF TITLE TO THE PROPERTY AND THE PHYSICAL CONDITION OF THE PROPERTY TO <br />THE EXTENT DEEMED NECESSARY BY BUYER IN ORDER TO ENABLE BUYER TO EVALUATE <br />THE PURCHASE OF THE PROPERTY. BUYER HEREBY FURTHER ACKNOWLEDGES AND <br />AGREES THAT, EXCEPT FOR THE REPRESENTATIONS AND WARRANTIES SET FORTH IN THIS <br />AGREEMENT, BUYER IS RELYING SOLELY UPON THE INSPECTION, EXAMINATION, AND <br />EVALUATION OF THE PHYSICAL CONDITION OF THE PROPERTY BY BUYER AND THAT <br />BUYER IS PURCHASING, AND AT CLOSING WILL ACCEPT, THE PROPERTY ON AN "AS IS," <br />"WHERE IS" AND "WITH ALL FAULTS" BASIS, WITHOUT REPRESENTATIONS, WARRANTIES <br />AND /OR COVENANTS, EXPRESS OR IMPLIED, OF ANY KIND OR NATURE; EXCEPT FOR THE <br />REPRESENTATIONS AND WARRANTIES SET FORTH IN THIS AGREEMENT. BUYER <br />ACKNOWLEDGES THAT SELLER HAS MADE NO AGREEMENT TO ALTER, REPAIR OR IMPROV E <br />THE PROPERTY. BUYER'S INITIALS BELOW INDICATE ITS ACKNOWLEDGEMENT OF AND <br />AGREEMENT WITH THE FOREGOING. <br />BUYER'S INITIALS <br />Except as specifically set forth in this Agreement, Buyer acknowledges and agrees that it has not (and <br />shall not) rely upon any statement and /or information from whomsoever made or given (including, but not <br />limited to, any broker, attorney agent, employee or other person representing or purporting to represent Seller) <br />directly or indirectly, verbally or in writing, and Seller is not and shall not be liable or bound by any such <br />statement and/or information. <br />Except as specifically set forth in this Agreement, Seller specifically disclaims any representation, <br />warranty or guaranty with respect to the Property, express or implied, including, but not limited to, any <br />representation or warranty as to the Property's condition, fitness for a particular purpose, quality, freedom <br />from defects or contamination (whether or not detectable by inspection), compliance with zoning or other <br />legal requirements or as to the availability or existence of any utility or other governmental or private services <br />or as to the amount of taxes assessed to the Property. <br />7.2 - Release of Claims Under Environmental Laws. Buyer, on behalf of itself and all future owners <br />and occupants of the Property, hereby waives and releases Seller from any claims for recovery of costs <br />associated with conduct of any voluntary action or any remedial responses, corrective action or closure under <br />any applicable federal, state or local environmental laws (" Environmental Laws "). For purposes of this <br />