Development Agreement with John Wieland Homes and ...

herewith, without any warranties, representations, or guarantees, either express or implied, of any kind, nature, or
type whatsoever from or on behalf of Seller. Buyer acknowledges that, except as specifically set forth in Section
7.(a)(11), in connection with its acquisition of the Property, it has not relied and is not relying on, and Seller shall
have no liability or obligation whatsoever for any inaccuracy in or omission from, any information, documents,
sales brochures, or other literature, maps or sketches, projections, pro formas, statements, representations,
guarantees, or warranties (whether express or implied, or oral or written, or material or immaterial), if any, that may
have been given, made or made available by or on behalf of Seller other than the limited warranty of title contained
in the Deed, and the representations and warranties set forth in this Agreement or in any other documents or
instruments delivered in connection herewith. The representations of Buyer in this subsection shall in no way limit
or restrict the remedies available to Buyer pursuant to this Agreement, the conditions precedent to Buyer’s
obligations at each Closing or Seller’s liabilities, duties, obligations, representations and warranties hereunder or
under any other documents or instruments delivered in connection herewith.
(2) No Reliance by Buyer. Except for the covenants, representations and warranties
specifically set forth herein (including, without limitation, Seller’s development, approval and other covenants
herein), or in any other documents or instruments delivered in connection herewith, and the limited warranty of title
contained in any Deed, Buyer is not entitled to rely upon, and is not relying upon, Seller or any of Seller’s Related
Parties as to (i) the quality, nature, adequacy, or physical condition of the Property; (ii) the quality, nature,
adequacy, or physical condition of soils or the existence of ground water at the Property; (iii) the existence, quality,
nature, adequacy, or physical condition of any utilities serving the Property; (iv) the development potential of the
Property, its habitability, merchantability or fitness, suitability, or adequacy of the Property for any particular
purpose; (v) the zoning or other legal status of the Property; (vi) the Property’s or its operations’ compliance with
any applicable codes, laws, regulations, statutes, ordinances, covenants, conditions, or restrictions including,
without limitation of the generality of the foregoing, any pertaining to health, safety, hazardous waste or
environmental matters, of any governmental or quasi-governmental entity, or of any other person or entity; or (vii)
except for the limited warranty of title contained in the Deed, the condition of the title to the Property, or the nature,
status and extent of any right-of-way, lease, right of redemption, possession, lien, encumbrance, license,
reservation, covenant, condition, restriction, or any other matter affecting title to the Property. The representations
of Buyer in this subsection shall in no way limit or restrict the remedies available to Buyer pursuant to this
Agreement, the conditions precedent to Buyer’s obligations at each Closing or Seller’s liabilities, duties,
obligations, representations and warranties hereunder or under any other documents or instruments delivered in
connection herewith.
(3) Sufficiency of Buyer’s Inquiries and Investigations. Buyer has had and will have, pursuant
to this Agreement, an adequate opportunity to make such legal, factual, and other inquiries and investigations as it
deems necessary, desirable, or appropriate with respect to the Property. Those inquires and investigations of Buyer
may include, but are not limited to, the physical components of all portions of the Property, the condition of the
Property, the state of facts that an accurate survey and inspection would show, zoning ordinances, resolutions, and
regulations of the city, county, and state where the Property is located, and the value and marketability of the
Property.
(4) Intentionally Omitted.
(5) No Financing by Seller. Buyer’s execution and performance of this Agreement is not in
any way conditioned upon or based in reliance upon any efforts by Seller or any entity related to Seller giving or
assisting Buyer in obtaining any financing associated with the purchase or development of the Property.
(6) Power and Authority. Buyer has the full right, power and authority to purchase the
Property as provided in this Agreement and to carry out Buyer’s obligations hereunder. All requisite action
necessary to authorize Buyer to enter into this Agreement and to carry out Buyer’s obligations hereunder has been
taken. The individual executing this Agreement on behalf of Buyer has the full right, power and authority to do so.
14