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<br />occurrence of such Seller Event of Default, AGENCY, in its discretion, may waive such default
<br />and the parties shall proceed with the transaction contemplated by this Agreement.
<br />
<br />7. CONDITION OF THE PROPERTY
<br />
<br />7.1 AGENCY acknowledges and agrees that, with the exception of the representations and
<br />warranties and promises contained in this Agreement, and with the exception of the statutory
<br />warranties of title contained in the Grant Deed under California Civil Code 1113 (as such
<br />warranties are limited under this Section 7.1), neither SELLER nor anyone acting for or on
<br />behalf of SELLER, has made any representations, warranties, or promises to AGENCY, or to
<br />anyone acting for or on behalf of AGENCY, concerning the condition of the Property, and
<br />SELLER makes no additional warranties of any kind with respect to the Property, whether
<br />express or implied, or otherwise, including without limitation, those of title, fitness for a
<br />particular purpose, tenantability, buildability or use. Subject to the representations, warranties
<br />and covenants of SELLER expressly set forth in Section 10.1 herein, AGENCY shall purchase
<br />the Property in its "AS IS" condition, "WITH ALL FAULTS" on the Closing Date and assumes
<br />the risk that adverse physical, environmental, economic or legal conditions may not have been
<br />revealed by its investigation.
<br />
<br />7.2 AGENCY hereby releases, acquits and discharges SELLER of any claims, actions,
<br />causes of action, suits, proceedings, demands, rights, damages, costs, expenses or other
<br />compensation ("Claims") which may accrue to AGENCY and may arise out matters which are
<br />either: (a) contained in any of the documents listed on Exhibit "E" hereto or in any of the
<br />SELLER'S Documents; or (b) discovered or learned by AGENCY about the Property during the
<br />Review Period. It is the intention of SELLER and AGENCY that items (a) and (b), immediately
<br />foregoing (together called the "Known Conditions"), shall cover all matters that are either
<br />disclosed to AGENCY or learned by AGENCY regarding the Property prior to the end of the
<br />Review Period, and that AGENCY shall release SELLER from, and that SELLER shall have no
<br />liability to, AGENCY for any matters that are either disclosed to AGENCY by SELLER, or that
<br />are learned by AGENCY during the Review Period.
<br />
<br />7.3 For purposes of Sections 7.1 and 7.2, the word "at" also means on, in, under, above and
<br />in the vicinity of. All of the terms and conditions of Sections 7.1 and 7.2 shall survive any
<br />termination of this Agreement and the Close of Escrow.
<br />
<br />8. SELLER'S COVENANTS
<br />
<br />SELLER agrees and covenants to do or cause to be done each of the following:
<br />
<br />8.1 Within five (5) business days following the Effective Date, SELLER shall deliver to
<br />AGENCY at AGENCY's office at 835 E. 14th Street, San Leandro, California, 94577 copies of
<br />Seller's Documents. From the Effective Date until the Close of Escrow, SELLER shall (at
<br />SELLER's sole cost) manage and maintain the Property in the same condition and manner as
<br />existed on the Effective Date, less normal wear and tear, excepting therefrom any damage or
<br />condition resulting from (1) acts or omissions of AGENCY's or AGENCY's Representatives on
<br />the Property; and (2) acts by third parties.
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