Section 1.54 Indemnification From Buyer to Seller

• Library: Environmental Issues and Federal Regulations Affecting Real Estate 2011 Froms

ThisEnvironmental Indemnity Agreement(Agreement) is made as of the ____ day of __________, 20__, by __________(Buyer or Indemnitor) in favor of __________(Seller). The following recitals form an integral part of this Agreement:

Whereas, Buyer has been granted the opportunity to examine the Property,including, but not limited to, evaluation of the presence of RegulatedMaterials on, in, under, or originating from the Property; and

Whereas, Buyer has been provided with true, complete, and correct copies ofall written reports, studies, investigations, audits, analyses, tests, orsampling results in Seller’s possession pertaining to Regulated Materials in,on, beneath, or adjacent to the Property or regarding Seller’s compliance withapplicable Environmental Laws at or with respect to the Property; and

Whereas, Buyer has retained environmental consultants and environmentalcounsel to assist in its evaluation of the Environmental Condition of theProperty; and

Whereas, Buyer has undertaken all environmental, engineering, or otherinspections that it desired to perform at the Property to satisfy itself withthe condition thereof;

Nowtherefore, in consideration of the premises and othergood and valuable consideration, the receipt and sufficiency of which arehereby acknowledged by Buyer, and intending to be legally bound, Buyer herebycovenants, warrants, represents, and agrees as follows:

I. Definitions

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