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clear of all liens, claims and encumbrances except for the Permitted Exceptions(as <br /> agreed by the Parties)and subject to the following additional covenants in the deed: <br /> i. By acceptance and recording of this Deed, Grantee covenants and <br /> agrees for itself, its successors and assigns that the Real Estate hereby conveyed is <br /> being taken"AS IS,WHERE IS"with all faults and without any representation and <br /> warranty and Grantee accepts all responsibility and liability associated with or <br /> arising from underground utilities, underground foundation structures, a well, <br /> buildings, and above ground storage containers. <br /> ii. Neither the Property, nor any portion thereof, shall be used for the <br /> commercial production, storage, sale, processing, recycling or distribution of any <br /> construction aggregates, concrete or asphalt products. <br /> 3.04.Environmental Conditions. Seller has disclosed to Buyer that there are underground utilities, <br /> underground foundation structures for a billboard, a well, buildings, and above ground storage <br /> containers on the Vulcan Property ("Existing Environmental Conditions"). Seller and Buyer <br /> acknowledge and agree that Buyer shall obtain a Phase I environmental within 30 days of this <br /> Agreement at Buyer's expense. Buyer may terminate this Agreement for any reason following <br /> receipt of the Phase I environmental report that is not acceptable to Buyer and this Agreement is <br /> expressly contingent upon Buyer's acceptance. <br /> 3.05. Prorations; Realty Transfer Tax. <br /> a. Appropriate prorations shall be made daily as of the close of business on the <br /> Closing Date with respect to the current year's real and personal property taxes. A <br /> reasonable estimate of such prorations shall be agreed to by Seller and Buyer at <br /> least five (5) Business Days prior to the Closing Date and shall be settled in <br /> immediately available funds at the Closing. All past due real estate and personal <br /> property taxes, if any, shall be paid by Seller at or before the Closing. <br /> 41Page <br />