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Packet 03212022
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4/1/2022 12:12:47 PM
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Reso 2022-050 Nimitz Hotel Purchase Agreement
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\City Clerk\City Council\Resolutions\2022
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________________ <br />________________ <br />INITIALS INITIALS <br />©2017 AIR CRE.All Rights Reserved.Last Edited:3/8/2022 9:08 AM <br />SMD-7.00,Revised 12-10-2020 Page 2 of 2 <br />the Property in the three years before the date of Buyer's offer to purchase the Property per the Purchase Agreement. <br />10.OTHER. <br />Seller believes the informaƟon provided in this Disclosure by Seller is true and correct to the best knowledge of Seller as of the date of this Disclosure,but Seller states <br />that Seller has exercised good faith in the selecƟon of a Natural Hazards Expert,Seller has not independently verified,and Seller is not obligated to verify,the <br />informaƟon contained in the Natural Hazards Report,and makes no representaƟon or warranty as to the truth or accuracy of any informaƟon contained in the Natural <br />Hazards Report.Buyer agrees the Natural Hazards Report saƟsfies Seller's legal duty to make the Natural Hazards Disclosures,the provider of the Natural Hazards <br />Report shall be deemed to be an expert dealing with maƩers within the scope of its experƟse with respect to the examinaƟon and wriƩen report regarding the <br />Natural Hazards Disclosures,and California Civil Code §1103.4 which deals with a seller's non-liability for errors and/or omissions not within such seller's personal <br />knowledge shall be deemed to apply to Seller. <br />The hazards referenced in this Disclosure may limit the ability of the owner of the Property to develop the Property,to obtain insurance,or to receive assistance aŌer <br />a disaster.The maps on which the Natural Hazards Report are based esƟmate where natural hazards exist and are not definiƟve indicators of whether or not a <br />property will be affected by a natural disaster.Buyer is advised to obtain professional advice regarding those hazards and other hazards that may affect the Property. <br />Applicable laws and the areas covered by the various natural hazard zones,etc.may change.Seller shall not be required to noƟfy Buyer if the informaƟon provided in <br />the Natural Hazards Report becomes inaccurate as a result of any governmental acƟon,map revision,changed informaƟon,or other act or occurrence,unless Seller <br />has actual knowledge that the informaƟon has become inaccurate.Prior to the close of escrow,Buyer may wish to again check the status of the Property.Also,Buyer <br />is advised to verify with appropriate local governmental agencies,such as the city and/or county in which the Property is located,to determine if they have <br />established natural hazard zones in addiƟon to those listed above.Signatures to this Disclosure accomplished by means of electronic signature or similar technology <br />shall be legal and binding.This Disclosure may be executed in counterparts. <br />The statements herein are not intended to be full or complete disclosure of all possible impacts on Buyer and/or the Property.If a maƩer is disclosed regarding <br />the Property,Buyer is advised to: <br />1.Review the enƟrety of all laws applicable to such disclosed maƩer. <br />2.Seek advice of counsel as to the legal consequence of any disclosed maƩers. <br />3.Retain appropriate consultants to review and invesƟgate the impact of all such disclosed maƩers. <br />Neither AIR CRE nor any of the brokers make any representaƟon,warranty or recommendaƟon regarding the legal sufficiency,legal effect or any other consequences <br />of this Disclosure. <br />Date: <br />SELLER <br />Parshotam Inc.(an S Corporation)dba Nimitz <br />Motel <br />By: <br />Name Printed:Pratap P.Solanki <br />Title:President <br />Buyer acknowledges receipt of this Disclosure together with the Natural Hazards Report,the Booklet and any other documents referenced herein (as applicable)as <br />being provided to Buyer,and agrees to the above terms and condiƟons. <br />Date: <br />BUYER <br />City of San Leandro,or Assignee <br />By: <br />Name Printed:Tom Liao <br />Title:Community Development Director <br />AIR CRE *hƩps://www.aircre.com *213-687-8777 *contracts@aircre.com <br />NOTICE:No part of these works may be reproduced in any form without permission in wriƟng.
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