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• Real Estate Purchase Agreement This REAL ESTATE PURCHASE AGREEMENT "Agreement dated this day of , 2002, by and between The Rector and Visitors of the University of Virginia ("Purchaser"), and the City of Charlottesville, Virginia ("Seller"). For an in consideration of the mutual covenants herein set forth, it is agreed as follows: 1. Agreement to Sell and Convey. Seller hereby agrees to sell and convey to Purchaser and Purchaser hereby agrees to purchase from Seller, subject to the terms and conditions hereinafter set forth, all that certain parcel of land lying and being situated in the City of Charlottesville, Virginia containing approximately point zero three two (.032) acres, and being more particularly described on Exhibit A, attached hereto and made a part hereof (the "Premises"). 2. Purchase Price. Seller shall convey to Purchaser and Purchaser shall purchase from Seller the Premises for a purchase price of Five Thousand and 00/100 Dollars ($5,000) (the "Purchase Price"). Payment of the Purchase Price, less any deductions herein authorized, shall be by cash, wire transfer or check from Purchaser, delivered to the Settlement Agent • (Ronald Wiley, Jr. of Southern Title Insurance Corporation, 401 Park Street, Charlottesville, Virginia), at Closing. Said funds shall be disbursed by the Settlement Agent to the Seller upon recordation of the Deed. 3. Security or Other Deposit. None. No security or other deposit of earnest money is required or being made by Purchaser to Seller under this agreement. 4. Environmental Matters. As evidenced by its acceptance and recordation of the deed, Purchaser acknowledges that the Seller makes no representations or warranties, whether express or implied, concerning the absence of any "hazardous substances" (as defined by the Comprehensive Environmental Response, Compensation and Liability Act of 1980, 42 U.S.C. Section 9601 et seq., as amended) or "hazardous wastes" (as defined by the Resource Conservation Act, 15 U.S.C. Section 2601 et seq., as amended). Purchaser further acknowledges that the Seller makes no guarantee, representation or warranty regarding the condition of the Premises, and the Seller expressly disclaims any and all obligation and liability to Purchaser regarding any physical or environmental defects that may exist with respect to the Premises.