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061 <br />ARTICLE III <br />ACQUISITION OF THE PROJECT <br />SECTION 3.1. Acquisition of Project In consideration of the covenants, warranties <br />and representations contained herein, the Seller hereby agrees to sell and convey to the Purchaser <br />on the Closing Date the Project, and the Purchaser hereby agrees to pay to the Seller the <br />Purchase Price of 5675,000 in installments with interest thereon as set forth in Section 4.1. <br />SECTION 3.2. Payment of Closing Costs The Purchaser shall be obligated to pay all <br />Closing Costs when the same become due and payable from available funds of the Purchaser, <br />except to the extent that the Seller has agreed to pay such Closing Costs. <br />SECTION 3.3. Disclaimer of Seller The Purchaser acknowledges and agrees that the <br />Seller (a) has not made any recommendation, given any advice nor taken any other action with <br />respect to (i) the acquisition of the Project or any component part thereof or any property or <br />rights relating thereto, or (ii) any action taken or to be taken with respect to the Project or any <br />component part thereof or any property or rights relating thereto at any stage of the acquisition <br />thereof, and (b) have not made any warranty or other representation, express or implied, that the <br />Project or any component part thereof or any property or rights relating thereto (i) will not result <br />in or cause injury or damage to persons or property, (ii) will be properly used or will accomplish <br />the results which the Purchaser intends therefor, or (iii) is safe in any manner or respect. <br />THE SELLER MAKES NO EXPRESS OR IMPLIED WARRANTY OR <br />REPRESENTATION OF ANY KIND WHATSOEVER WITH RESPECT TO THE PROJECT <br />OR ANY COMPONENT PART THEREOF TO THE PURCHASER OR ANY OTHER <br />CIRCUMSTANCE WHATSOEVER WITH RESPECT THERETO, INCLUDING BUT NOT <br />LIMITED TO ANY WARRANTY OR REPRESENTATION WITH RESPECT TO THE <br />MERCHANTABILITY OR THE FITNESS OR SUITABILITY THEREOF FOR ANY <br />PURPOSE; COMPLIANCE THEREOF WITH THE REQUIREMENTS OF ANY LAW, <br />RULE, SPECIFICATION OR CONTRACT PERTAINING THERETO; OR ANY OTHER <br />CHARACTERISTICS OF THE PROJECT. <br />7 <br />