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Exercise, in which case the Deposit shall be returned to Lessee, the Lease shall
<br />continue in full force and effect (including Lessee's right to later re -exercise the
<br />Purchase Option), and Lessee shall not be liable for any costs incurred by Lessor
<br />with respect to the failed Closing; provided, however that each of Lessee and
<br />Lessor shall pay one-half of the Escrow Holder's costs and fees in connection
<br />with the Option Escrow and its cancellation.
<br />(e) Additionally, and notwithstanding the foregoing, if the Closing is unable
<br />to occur for a reason other than a breach or default by Lessee or Lessor, then
<br />Lessee shall have the right to rescind the Notice of Exercise, in which case the
<br />Deposit shall be returned to Lessee, the Lease shall continue in full force and
<br />effect (including Lessee's right to later re -exercise the Purchase Option), and
<br />Lessee shall not be liable for any costs incurred by Lessor with respect to the
<br />failed Closing; provided, however that each of Lessee and Lessor shall pay one-
<br />half of the Escrow Holder's costs and fees in connection with the Option Escrow
<br />and its cancellation.
<br />69.8. Condition of Property. Lessee represents and warrants that Lessee has, or shall have
<br />inspected and conducted tests and studies of the Premises, and that Lessee is familiar
<br />with the general condition of the Premises. Lessee understands and acknowledges that
<br />the Premises may be subject to earthquake, fire, floods, erosion, high water table,
<br />dangerous underground soil conditions, hazardous materials and similar occurrences that
<br />may alter its condition or affect its suitability for any proposed use. Except as otherwise
<br />expressly provided in the Lease, Lessor shall have no responsibility or liability with
<br />respect to any such occurrence. Lessee represents and warrants that, except for Lessor's
<br />express representations and warranties herein, Lessee is acting, and will act only, upon
<br />information obtained by Lessee directly from Lessee's own inspection of the Premises.
<br />Lessor hereby makes no claims, representations or warranties as to the suitability or lack
<br />of suitability of the Premises for any proposed or intended use, or availability or lack of
<br />availability of (a) permits or approvals of governmental or regulatory authorities, or (b)
<br />easements, licenses or other rights with respect to any such proposed or intended use of
<br />the Premises shall not affect the rights or obligations of the Lessee hereunder.
<br />69.9. "As Is". Lessee expressly agrees that if it completes the purchase of the Premises (i) that
<br />it is purchasing the Premises on an "As ls" basis and based on its own investigation of the
<br />Premises, (ii) that, except as expressly set forth herein, neither Lessor nor Lessor's
<br />employees, agents, brokers, representatives, managers, property managers, asset
<br />managers, officers, principals, beneficiaries, trustees, attorneys or contractors
<br />(collectively, "Lessor's Representatives") have made any warranty, representation or
<br />guarantee, expressed, implied or statutory, written or oral, including, without limitation,
<br />any implied warranty of merchantability or fitness for any use or purpose or of
<br />reasonably workmanship, concerning the Premises or any of the products or
<br />improvements located thereon or therein; (iii) that, except as otherwise expressly set forth
<br />herein, neither Lessor nor Lessor's Representatives have made any warranty,
<br />representation, or guarantee, expressed, implied or statutory, written or oral, pertaining to
<br />the Premises' compliance with any laws, ordinances, rules or regulations, federal, state or
<br />local and (iv) except as otherwise expressly set forth herein, that neither Lessor nor
<br />Lessor's Representatives have made any warranty, representation or guarantee,
<br />expressed, implied or statutory, written or oral, as to any government limitation or
<br />restriction, or absence thereof, pertaining to the Premises, or as to the presence or absence
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