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• 7.1 Title to the Property shall be as provided in Section 6 of this Agreement. Buyer will notify Authority of any title defects at least 45 days prior to closing, and Authority shall have until closing to cure any such defect. 7.2 Neither the Property nor any portion of the Property shall, after the date of this Agreement, have been condemned or taken pursuant to any governmental action or other exercise of the power of eminent domain or shall, after the date of this Agreement, be the subject of any condemnation or taking proceeding. If the Property or any portion thereof is subject to any proceeding for condemnation, taking or exercise of the power of eminent domain at any time prior to the closing under this Agreement which materially and adversely affects Buyer's planned development of the Property, Buyer at his sole option may: (1) proceed to the closing with no reduction in the Purchase Price for the area of the property subject to such proceeding and, in such case, Authority shall assign to Buyer all of the Authority's right, title, and interest in and to any condemnation award or damages; or (2) terminate this Agreement by giving written notice to Authority of his decision to do so, in which event Authority shall return the earnest money deposit and this Agreement shall terminate and neither party shall have any further rights or obligations hereunder. • 7.3 Authority's obligations described in Section 8 of this Agreement shall have been fully satisfied. 7.4 In the event any of the foregoing conditions are not fulfilled (through no fault of the party to be benefitted by such condition) and are not waived, the deposit shall be paid to the Buyer, and each party shall be relieved from any further liability under this Agreement. Section 8. Environmental Disclaimer and Authority's Obligations. 8.1 Buyer may, at his own expense, conduct additional environmental testing of the Property. Authority 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). Buyer hereby acknowledges that the bearing capacity of some of the soils on the site may be below standard and that portions of these soils, frequently identified as "cinders", if removed from the site may have to be bioremediated or otherwise disposed of as either a "hazardous substance" or "hazardous waste" as defined herein. Cost of bioremediation, environmental cleanup, if any, and removal and disposal, if necessary, shall be solely the responsibility of Buyer. If such soils are left in place, Buyer will be solely responsible for any solutions related to bearing capacity. • 8.2 The Property shall be delivered to the Buyer at Closing in its present physical condition, except as otherwise provided in this Agreement. It shall be Buyer's responsibility to determine that all utility service required by Buyer is available to the Property. Page 4