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<br />Buyer is STRONGLY ADVISED to obtain inspections (see below) to fully determine the condition of the Property
<br />and its environmental status. The ONLY way to determine if Environmental Contaminants are present at the
<br />Property at harmful levels is through inspections.
<br />Buyer and Seller agree to consult with appropriate experts and accept all risks for Environmental
<br />Contaminants and release and hold harmless all Brokers, their companies and sales associates from any
<br />and all liability, including attorney's fees and costs, arising out of or related to any inspection, Inspection
<br />result, repair, disclosed defect or deficiency affecting the Property, including Environmental Contaminants.
<br />This release shall survive the closing.
<br />13. INSPECTIONS: (Check paragraph letter A or B)
<br />Buyer has been made aware that independent inspections disclosing the condition of the property are available
<br />and has been afforded the opportunity to require such inspections as a condition of this Agreement.
<br />❑ A. BUYER WAIVES THE RIGHT TO HAVE INDEPENDENT INSPECTIONS
<br />Buyer WAIVES inspections and relies upon the condition of the Property based upon Buyer's own
<br />examination and releases the Seller, the Listing and Selling Brokers and all salespersons associated with
<br />/SBUYER kers from any and all liability relating to any defect or deficiency affecting the Property, which release
<br />ll survive the closing. Required FHA/VA or lender inspections are not included in this waiver.
<br />RESERVES THE RIGHT TO HAVE INDEPENDENT INSPECTIONS (including Lead -Based Paint)
<br />Buyer reserves the right to have independent inspections in addition to any inspection required by FHA, VA,
<br />or Buyer's lender(s). All inspections are at Buyer's expense (unless noted otherwise or required by lender) by
<br />licensed independent inspectors or qualified independent contractors selected by Buyer within the following
<br />time periods. Seller shall have water, gas, electricity and all operable pilot lights on for Buyer's
<br />inspections.
<br />INSPECTION/RESPONSE PERIOD: Buyer shall order al i ependent inspections immediately after
<br />acceptance of the Purchase Agreement. Buyer shall have days beginning the day following the date
<br />of acceptance of the Purchase Agreement to respond to the inspection report(s) in writing to Seller (see
<br />"Buyer's Inspection Response ").
<br />Inspections may include but are not limited to the condition of the following systems and components:
<br />heating, cooling, electrical, plumbing, roof, walls, ceilings, floors, foundation, basement, crawl space,
<br />well/septic, water, wood destroying insects and organisms, lead -based paint (note: intact lead -based paint
<br />that is in good condition is not necessarily a hazard), radon, mold and other biological contaminants and/or
<br />the following:
<br />If the initial inspection report reveals the presence of lead -based paint, radon, mold and other biological
<br />contaminants, or any other condition that requires further examination or testing, then Buyer shall have
<br />additional days to order, receive and respond in writing to any additional reports.
<br />If the Buyer does not comply with any Inspection/Response Period or make a written objection to any
<br />problem revealed in a report within the applicable Inspection/Response Period, the Property shall be
<br />deemed to be acceptable. If one party fails to respond or request in writing an extension of time to
<br />respond to the other party's Independent Inspection Response, then that inspection response is
<br />accepted. A timely request for extension is not an acceptance of the inspection response, whether or not
<br />granted. A REASONABLE TIME PERIOD TO RESPOND IS REQUIRED TO PREVENT MISUSE OF THIS
<br />ACCEPTANCE PROVISION. Factors considered in determining reasonable time periods include, but are
<br />not limited to, availability of responding party to respond, type and expense of repairs requested and need of
<br />responding party to obtain additional opinions to formulate a response.
<br />If the Buyer reasonably believes that the Inspection Report reveals a MAJOR DEFECT with the Property and
<br />the Seller is unable or unwilling to remedy the defect to the Buyer's reasonable satisfaction before closing (or
<br />at a time otherwise agreed to by the parties), then Buyer may terminate this Agreement or waive such defect
<br />and the transaction shall proceed toward closing. Under Indiana law, "Defect" means a condition that would
<br />have a significant adverse effect on the value of the Property, that would significantly impair the health or
<br />safety of future occupants of the Property, or that if not repaired, removed, or replaced would significantly
<br />shorten or adversely affect the expected normal life of the premises. BUYER AGREES THAT ANY
<br />PROPERTY DEFECT PREVIOUSLY DISCLOSED BY SELLER, OR ROUTINE MAINTENANCE AND
<br />6 d s C 'CLAP s,; s-r - J,-0. ,N y6 6,100
<br />Page 3 of 7 (Purchase Agreement)
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