Chapter 6 - FORM 6O • PURCHASE AGREEMENT CLAUSE — "AS IS" SALE

• Jurisdiction: Colorado

FORM 6O • PURCHASE AGREEMENT CLAUSE — "AS IS" SALE

"As Is" Sale. Seller and buyer understand and agree that, notwithstanding any other provision of this contract or of law, seller will only convey the property in its present condition, and that buyer is acquiring the property in an "as is" condition and on a "where is" basis. Seller makes no representations, warranties, or agreements, either express or implied, regarding the condition of the property or the suitability of the property for buyer's intended uses, including without limitation any representations, warranties, or agreements relating to air, water, water rights, minerals, utilities, present or future zoning, soil, subsoil, drainage, or access to public roads.

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Disclaimer of Warranties and Representations; Inspection; Assets to Transfer "As Is"

(a) (i) Seller makes no express or implied representations or warranties of any kind as to the physical condition of or title to the Property or as to the suitability or fitness of the Property for any use. Seller makes no express or implied representations or warranties of any kind as to environmental matters on, concerning, or related to the Property. (ii) Seller makes no express or implied representations or warranties of any kind as to accuracy or completeness of any of the Files, or as to the suitability or fitness of the Property for any use. (iii) Seller makes no express or implied representations or warranties of any kind as to the appropriation, priority, permissible uses, quantity, quality, or ability to use any of the Water Rights or the physical condition of or title to any diversion structures for the Water Rights, or as to the suitability or fitness of the Water Rights for any use. Seller makes no express or implied representations or warranties of any kind as to environmental matters on, concerning, or related to the Water Rights.

(b) Purchaser has made an independent investigation of the title to the Assets, has physically inspected the Property, the Files, and the Water Rights, and has conducted or will conduct prior to the Closing all such inspections, investigations, and surveys of the Assets as Purchaser deems necessary and appropriate. Purchaser further...