Township Council Meeting — Agenda

ERISA or other employee benefit plans for employees of Seller with respect to the Property that will in any manner impose any liability or responsibility upon Buyer from and after the date of Closing. The wages and employee taxes of all of Seller’s employees who are employed in connection with the operation of the Property, if any, have been fully paid and the employment of all such employees may be rightfully terminated by Seller or Buyer at any time prior to Closing at no cost or expense to Seller. R. There are no material defects in, mechanical failure of or damage to the improvements constructed on the Property, including, without limitation, the roof, structure, elevators, walls, heating, ventilation, air conditioning, plumbing, electrical, drainage, fire alarm, sprinkler, security and exhaust systems and their component parts, all of which have been constructed in a good and workmanlike manner. S. Executor has no knowledge that property had been used for the disposal of refuse or waste, or for the generation, processing, manufacture, storage, handling, treatment or disposal of any hazardous or toxic waste, substance, petroleum product or material (“Hazardous Substance”) except as identified in previous reports to the DEP and addressed in previous remediations. No (i) asbestos-containing materials, or (ii) machinery, equipment or fixtures containing polychlorinated biphenyls (PCBs), or (iii) storage tanks for gasoline or any other substance, or (iv) urea formaldehyde foam insulation, have been installed, used, stored, handled or located on the Property. No Hazardous Substance has been installed, used, stored, handled or located on the Property which Hazardous Substance, if found on the Property or improperly disposed of off of the Property, would subject the owner or occupant of the Property to damages, penalties, liabilities or an obligation to perform any work, cleanup, removal, repair, construction, alteration, demolition, renovation or installation in or in connection with the Property (“Environmental Cleanup Work”) in order to comply with any federal, state or local law, regulation, ordinance or order concerning the environmental state, condition or quality of the Property (“Environmental Law”) applicable to owners, operators or developers of real property. No notice from any governmental body has ever

erning the environmental state, condition or quality of the Property (“Environmental Law”) applicable to owners, operators or developers of real property. No notice from any governmental body has ever been served upon Seller, its agents or employees, or, to the best of Seller’s knowledge, any occupant or prior owner of the Property, claiming any violation of any Environmental Law, or requiring or calling attention to the need for any Environmental Cleanup Work on or in connection with the Property in order to comply with any Environmental Law, and to the best of Seller’s knowledge, any occupant or prior owner of the Property, has ever been informed of any threatened or proposed serving of any such violation or corrective work. Seller has no knowledge that the soil and groundwater on or under the Property is free from any Hazardous Substance. T. Seller has no knowledge of any installations or use or operation (or caused or permitted the installation, use or operation of) any well, septic tank, septic system, storage tank, or other tank or container of any kind beneath the Property. To the best of Seller’s knowledge, the soil beneath the Property is free of any such well, septic tank, septic system, storage tank, or other tank or container except as previously identified in reports submitted to DEP previously. Seller has not buried, covered over or deposited (or caused or permitted the burial, covering over or deposit of) any demolished buildings or structures, foundations, bulkheads, footings, excavated soils, debris from construction or demolition, or other objects or materials of any kind beneath the Property. The best of Seller’s knowledge, the soil beneath the 9 #13069278.1 #13244508.1