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water conditions on or around the Property that are in Sellers' control. Purchaser may
<br />conduct an environmental site assessment of the Property to determine the existence
<br />and extent, if any, of any Hazardous Materials on the Property. For purposes of this
<br />Agreement "Hazardous Materials" shall mean any hazardous or toxic substance, material
<br />or waste of any kind or any other substance which is regulated by any Environmental
<br />Law. In the event that the environmental site assessment provided for herein confirms the
<br />presence of Hazardous Materials on the Property, Purchaser, at its sole option, may elect
<br />to terminate this Agreement and neither Party shall have any further obligations under
<br />this Agreement. Alternatively, if Purchaser does not elect to terminate this Agreement,
<br />the Sellers shall have seven (7) days from the issuance of the environmental site
<br />assessment to determine if Sellers either elect to terminate this Agreement, with neither
<br />Party having any further obligations under this Agreement, or, at Sellers' sole cost and
<br />expense and prior to the Closing, promptly commence and diligently pursue any
<br />assessment, clean up and monitoring of the Property necessary to bring the Property into
<br />full compliance with any and all applicable federal, state or local laws, statutes,
<br />ordinances, rules, regulations or other governmental restrictions regulating, relating to, or
<br />imposing liability or standards of conduct concerning Hazardous Materials
<br />("Environmental Law").
<br />(B) Surrey - Purchaser may have the Property, surveyed to the Florida Nnimum
<br />Technical Standards for Land Surveys. Purchaser shall order the Survey. If the survey
<br />("Survey"), certified by professional surveyor and mapper licensed by the State of Florida,
<br />shows any encroachment on the Property or that improvements intended to be -located-
<br />on the Property encroach on the land of others the same shall be treated as a title defect
<br />as provided in paragraph 6 below. If the Survey shows any material deviations in the
<br />represented acreage, size, or configuration of the Property or location of easements,
<br />Purchaser, at its sole option, may elect to terminate this Agreement and neither Party
<br />shall have any further obligations under this Agreement. Alternatively, the Purchaser and
<br />Sellers may agree to an adjustment of the'Initial Purchase Price.
<br />(C) Other Investigations - Purchaser may undertake such other tests, analyses,
<br />investigations, and inspections as deemed necessary by Purchaser to determine to
<br />Purchaser's satisfaction the Property's engineering, architectural, and environmental
<br />properties; zoning, zoning restrictions and land use; soil, grade, and other environmental
<br />features; availability of access to public roads, water, and other utilities; consistency with
<br />local, state, and regional growth management plans; availability of permits, approvals,
<br />and licenses, including any wetlands permits that may be required; and all other
<br />investigations or inspections that Purchaser deems necessary to determine the Property's
<br />suitability for the Purchaser's intended use. If the Purchaser, in its sole discretion,
<br />determines that the Property is unacceptable for the Purchaser's intended use, the
<br />Purchaser may elect to terminate this Agreement and neither Party shall have any further
<br />obligations under this Agreement.
<br />(D) Purchaser shall promptly restore any portions of the Property affected 'by
<br />Purchaser's inspections and investigations to the condition that existed immediately prior
<br />to the inspections or investigations.
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<br />Purchaser Sellers
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