Item 16 - Purchase and Sale Agreement for 1601 and 1607 N Bristol Street

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5.2 No Representations or Warranties. Seller wakes no representation or warranty, express or implied, to the Buyer relating to the condition of the Property or suitability of the Property for any intended use or development by the Buyer. 5.3 Aoceptance of Pro»ertv "AS -IN." Buyer shall accept all conditions of the Property, without any liability of the Seller whatsoever, in the Property's AS4S, WHERE4S, SUBJECT TO ALL FAULTS CONDITION, WITHOUT 'WARRANTY AS TO QUALITY, CHARACTER, PERFORMANCE OR CONDITION, and with fall knowledge of the physical condition of the Property, the nature of the Seller's interest in and use of the Property, all laws applicable to the Property and of any and all conditions, restrictions, encumbrances and all matters of record relating to the Property. The Property is being acquired by Buyer as a result of its own knowledge of the Property and not as a result of any representation(s) made by the Seller.or any employee, official, consultant or agent of the Seller relating to the condition of the Property, unless such statement or representation is expressly and specifically set forth in this Agreement. Seller hereby expressly and specifically disclaims any express or implied warranties regar ft the Property, unless expressly and specifically set forth in this Agreement. 6, Warranties, 6.1 Seller's Warranties. In consideration of Buyer entering into this Agreement and as an inducement to Buyer to purchase the Property from Sealer, Seller makes the following representations and warranties which shall be true and correct as ofthe Effective Date and the Close of Escrow and each ofwhich is material and being relied upon by Buyer.. For all purposes Of this Agteement, including seller's representations and warranties contained herein, the phrase "to the best of Seller's knowledge" shall mean the cutreut actual knowledge of Seller. If prior to the Close of Esetow, Buyer has actual Knowledge that any representation or warranty of Seller is untrue, inaccurate or incomplete in any material respect (and without waiving any of Buyer's rights or remedies hereunder at law -or inequity with rgspeet to any material untruth, incompleteness or inaccuracy existing on the Effective Date, that was known of or should have been known of by Seller), Buyer maygive Seller written notice of same and Seller shall have seven (7) days from the date of receipt ofHuyees notice (and the Closiq Date shall be extended to permit the running of such seven (7) day period) ("Seller Cure Period') to correct any factor or circumstance that makes such representation or warranty materially untrue or inaccurate to Buyees reasonable satisfaction. If Seller fails to make such correction within the Seller Cure Period, then Buyer by written notice to Seller within three (3). days after the expiration of the Seller Cure Period (anti the Closing Date shall be extended to permit the tinning of such three (3) day period) shall be entitled (a) to terminate this Agreement, or (b) continue taus Agreement in full force ,and effect with no change in terms, but without waiving any legal, equitable or other remedies it may have against Seller. The foregoing is not a waiver or release of any of Buyer's rights or remedies for any material untruth, incompleteness or inaccuracy in a representation or warranty of Seller of which Buyer obtains knowledge after the Close of Escrow. 6.1.1 Authorization. Seller has full powerand authority to enter into this Agreement and to perform all its obligations hereunder, and has taken all action required by law, its governing instruments or otherwise to authorize the execution, delivery and performance of this Agreement by Seller. Each individual or entity who has executed this Agreement on behalf of Seller has the right, power, legal capacity and authority to execute, deliver and perform this Agreement on behalf of Seller. -8-