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in accordance with the terms of this Agreement. Interest earned on the Deposit shall at all times • belong to Buyer unless Buyer is in default as outlined in Section 6.2 (b). 3.3. An old sewage treatment plant formerly operated by Seller is located on the Property. As hereinafter provided in Section 4.2 and Section 5. Lb below, Buyer is purchasing the Property in its present physical condition "as -is" (except as provided in Section 5. Lc below) and without representations or warranties, express or implied, concerning the absence of any "hazardous substances" or "hazardous wastes", with the existing buildings, tanks and other facilities of the old sewage treatment plant abandoned and left in place by Seller for Buyer to deal with, and with Buyer bearing all costs of and responsibility for removal, if necessary, and disposal, if necessary, of any "hazardous substances" and/or "hazardous waste" (except as provided in Section 5. Lc below). In recognition of the risks to be assumed by Buyer at Closing and the costs to be incurred by Buyer in its development of the Property related to the existing physical condition of the Property, Seller and Buyer have agreed that Buyer shall receive a credit on the Purchase Price of $330,000.00. 3.4. The balance of the Purchase Price of $230,000.00, less and except those credits set forth immediately below, shall be paid by Buyer to Seller at Closing, as follows: $230,000.00 cash or certified funds less the $20,000 Deposit, less any one month extension payments made pursuant to Section 4.1.b. • Section 4. Closing and Delivery of Possession. 4.1. Date. a. Closing (settlement) shall be made at the office of legal counsel for Seller on or before thirty (30) days after all of the conditions set forth in Section 4.3 below have been fulfilled and Seller has fulfilled its obligation under Section 7.13 with respect to the Vent Station. Seller and Buyer anticipate that Closing will occur not later than February 1, 1998. TIME IS OF THE ESSENCE TO SELLER AND TO BUYER. Upon thirty (30) days' written notice to Seller, Buyer may, at its sole discretion, accelerate Closing. b. Notwithstanding the above -referenced Closing Date, if Buyer, through no fault of Seller, seeks to extend the Closing Date, it may do so, one month at a time, by delivering to Seller, on or before the applicable Closing Date, its written request for an extension identifying which condition(s) listed in Section 4.3 of this Agreement will not be satisfied by the applicable Closing Date deadline, along with: (1) The sum of $1,500 in cash or certified funds ("Extension Payment"), to be received by Seller on or before the applicable Closing Date, and 0 3