13-2023 - Authorize lease with LCSC for 12900 Madison

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(d) All work and labor performed and all materials furnished with respect to any improvements or 11 repairs to the Property have been paid in full, and there will be no mechanic's liens or the possibility thereof in connection with any such work or labor performed on or materials furnished to the Property; (e) To Seller's knowledge there are no actions, suits or proceedings against Seller with respect to the Property, and there are no investigations or actions, suits or proceedings at law or in equity pending or threatened against Seller that would adversely affect this transaction or the Property being sold hereunder. (f) There are no employment contracts, service contracts, or similar contracts or agreements relating to the management, ownership or operation of the Property; (g) Seller will assign to Buyer on or before the closing date, by delivering theirs into escrow, any and all guarantees or warranties with respect to the condition of the property, including all improvements, fixtures, equipment and personal property being conveyed hereunder, that remain in effect; (h) Attached hereto and marked Exhibit `ID" is a true and accurate schedule of insurance carried on the premises. Such insurance shall not be modified between the date hereof and the closing date. No written notices or requests have been received by Seller, limited to the Trustees signing this Agreement, from any insurance company issuing any of such policies which have not been complied with; (i) Seller shall authorize Buyer to inquire with all of the gas and electrical utility companies as to the status of the accounts relating to the Property. Attached hereto and marked Exhibit "E" are true and accurate lists of the gas and electrical utility bills relating to the Property received immediately before the effective date of this Agreement; (j) To Seller's knowledge all documents delivered or required hereunder to be delivered to Buyer and all warranties herein made by Seller are accurate and complete, and* there has been no material change in any of the facts, circumstances or subject matter of this transaction of which Buyer has not been informed. (k) The sale and transfer of the aforesaid Property is, or shall be prior to the closing date, duly authorized in accordance with the law and within the scope of authority of the party or parties conveying the Property, and evidence of such authority shall be presented to Buyer prior to the closing of this transaction. 3.02. Warranties of Buyer. All inspections by Buyer, together with any costs incurred with respect to any survey and reports regarding the Property, shall be the responsibility of Buyer. Any inspections required by Buyer in furtherance of this Agreement shall be conducted at reasonable times during normal business hours with prior notice to Seller. Buyer hereby agrees to indemnify and hold Seller harmless for any and all damages, costs, and expenses arising from Buyer's activities on the Property, (01430183-1)