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126 K HOMEOWNER'S INSURANCE: Completion of this transaction shall be contingent upon the Buyer's ability to obtain
<br />127 a favorable written commitment for homeowner's insurance within 10 days after acceptance of this Agreement
<br />128
<br />129 L. ENVIRONMENTAL CONTAMINANTS ADVISORYIRELEASE: Buyer and Seller acknowledge that Listing Broker,
<br />130 Selling Broker and all salespersons associated with Brokers are NOT experts and have NO special training,
<br />131 knowledge or experience with regard to the evaluation or existence of possible lead -based paint, radon, mold and
<br />132 other biological contaminants ("Environmental Contaminants ") which might exist and affect the Property.
<br />133 Environmental Contaminants at harmful levels may cause property damage and serious illness, including but not
<br />134 limited to, allergic and/or respiratory problems, particularly in persons with immune system problems, young
<br />135 children and/or the elderly.
<br />136
<br />137 Buyer is STRONGLY ADVISED to obtain inspections (see below) to fully determine the condition of the Property
<br />138 and its environmental status. The ONLY way to determine if Environmental Contaminants are present at the
<br />139 Property at harmful levels is through inspections.
<br />140
<br />141 Buyer and Seller agree to consult with appropriate experts and accept all risks for Environmental
<br />142 Contaminants and release and hold harmless all Brokers, their companies and sales associates from any
<br />143 and all liability, including attorneys fees and costs, arising out of or related to any inspection, Inspection
<br />144 result, repair, disclosed defect or deficiency affecting the Property, including Environmental Contaminants.
<br />145 This release shall survive the closing.
<br />146
<br />147 M. INSPECTIONS: (Check paragraph t or 2)
<br />148
<br />149 Buyer has been made aware that independent inspections disclosing the condition of the property are available
<br />150 and has been afforded the opportunity to require such inspections as a condition of this Agreement
<br />151
<br />152 1. ® BUYER WAIVES THE RIGHT TO HAVE INDEPENDENT INSPECTIONS
<br />153 Buyer WAIVES inspections and relies upon the condition of the Property based upon Buyer's own
<br />154 examination and releases the Seller, the Listing and Selling Brokers and all salespersons associated with
<br />155 Brokers from any and all liability relating to any defeat or deficiency affecting the Property, which release
<br />156
<br />157 shall survive the closing. Required FHAIVA or lender inspections are not included in this waiver.
<br />158
<br />159 2. ❑ BUYER RESERVES THE RIGHT TO HAVE INDEPENDENT INSPECTIONS (including Lead-Based Paint)
<br />160 Buyer reserves the right to have independent inspections in addition to any inspection required by FHA, VA,
<br />161 or Buyer's lender(s). All inspections are at Buyer's expense (unless rated otherwise or required by lender) by
<br />162 licensed independent inspectors or qualified independent contractors selected by Buyer within the following
<br />163 time periods. Seller shall have water, gas, electricity and all operable pilot lights on for Buyer's
<br />164 inspections. Seller must make all areas of the Property available and accessible for Buyer's
<br />165 inspection.
<br />166
<br />167 INSPECTIONIRESPONSE PERIOD: Buyer shall order all independent inspections irtsnediately after
<br />168 acceptance of the Purchase Agreement. Buyer shall have days beginning the day following the date
<br />169 of acceptance of the Purchase Agreement to respond to the inspection report(s) in writing to Seller (see
<br />170 "Buyer's Inspection Response ").
<br />171
<br />172 Inspections may include but are not limited to the condition of the following systems and components:
<br />173 heating, cooling, electrical, plumbing, roof, walls, ceilings, floors, foundation, basement, crawl space,
<br />174 we]Vseptic, water, wood destroying insects and organisms, Lead -based paint (note: intact lead -based paint
<br />175 that is in good condition is not necessarily a hazard), radon, mold and other biological contaminants and/or
<br />176 the following:
<br />177
<br />178
<br />179 If the initial inspection report reveals the presence of lead -based paint, radon, moll and other biological
<br />180 contaminants, or any other condition that requires further examination or testing, than Buyer shall have
<br />181 additional days to order, receive and respond in writing to any additional reports.
<br />182
<br />183 If the Buyer does not comply with any InspectioNResponse Period or make a written objection to any
<br />184 problem revealed in a report wlthin the applicabis InspectioNResporrse Period, tM Property shall be
<br />185 deemed to be acceptable. lt one party Nils to respond or request In wolfing an extension of time to
<br />186 respond to the other party's Independent Inspection Response, then that inspection response Is
<br />187 accepted. A timely request for extension is rat an acceptance of the inspection response, whether or not
<br />188 granted. A REASONABLE TIME PERIOD TO RESPOND IS REQUIRED TO PREVENT MISUSE OF THIS
<br />189 ACCEPTANCE PROVISION. Factors considered in determining reasonable time periods include, but are
<br />190 not limited to, availability of responding party to respond, type and expense of repairs requested and need of
<br />191 responding party to obtain additional opinions to forrbulate a response.
<br />620 Columbia Stsaet. South Band. 46601
<br />Page 3 of 7 (Purchase Agreement)
<br />Produced w8h ZgFonne by zlpLogix 18070 Frbeen Mae Road, Fraser, Michigan 480Y8 men n0LQgg g= 620 Columbia
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