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<br />17. Use. <br />Seller acknowledges that the Property may be used for any permitted uses under the Seller's <br /> <br />zoning code. Buyer acknowledges and agrees that it will use the Property to construct a +/- 146,250 <br /> <br />square foot Class A executive and professional office building. <br /> <br />18. Hazardous Substances and Toxic Waste. <br /> <br />Seller represents and warrants that to the best knowledge of Seller no hazardous substance or <br /> <br />toxic waste are or have been stored upon the land or used in connection with the land, nor, to its <br /> <br />knowledge are any hazardous substances or toxic waste or other pollutants contained upon or under the <br /> <br />land or being discharged from the land directly or indirectly into any body of water. Seller knows of no <br /> <br />breach of applicable laws or regulations, nor of any underground tank located on or under the property. <br /> <br />To Seller's best knowledge, neither Seller nor any of its affiliates have generated, recycled, <br /> <br />reused, sold, stored, handled, transported or disposed of any Hazardous Materials on the Property during <br /> <br />any period of time Seller has had an interest in the Property. To the best of Seller's knowledge, the <br /> <br />Property complies with all applicable local, state, federal environmental laws, regulations, ordinances or <br /> <br />administrative or judicial orders relating to the generation, recycling, reuse, sale, storage, handling, <br /> <br />transport and/or disposal of any Hazardous Materials. In the event that Buyers discover the existence of <br /> <br /> <br />any Hazardous Materials within Thirty (30) days from the Effective Date of this Agreement (hereinafter <br /> <br /> <br />referred to as "Enviromnental Due Diligence Period"), the Buyers shall, within seven (7) days following <br /> <br />such discovery, notify the Seller in writing ("Hazardous Materials Notice") of the existence of any <br />Hazardous Materials <br /> <br />Upon receipt of such notice from the Buyers, the Seller agrees to remediate the identifiable <br /> <br />Hazardous Materials issue; provided however, that Seller shall have no obligation to spend more than <br /> <br />One Percent (1 %) of the Purchase Price to cure any Hazardous Materials defects. In the event that <br /> <br />Seller is unable to satisfactorily remediate the Property to provide Buyer with a site that is satisfactory to <br /> <br />10 of 17 ~':i'.) I'll \ nifh <br />'"'''' F I <br />