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thereof, and for the use by the Seller, Seller' agents and/or Seller's designees <br />as a water supply. <br /> <br />ACCEPTANCE DATE; SALE OF PUBLIC LANDS <br /> <br /> Seller shall be responsible for conforming with all procedures under State and <br />local law for the sale of public lands, including but not limited to complying with the <br />provisions of NCGS Sections 160A-269 (herein the "Negotiated Offer Law"). <br /> <br /> Seller shall immediately begin the procedures mandated by the Negotiated Offer <br />Law, and shall notify Buyer promptly of any upset bids that may be filed pursuant <br />thereto. The completion of said procedure, and the consequent acceptance of this contact <br />by the Seller, shall be hereinafter referred to as the "Acceptance Date". <br /> <br />5. CONDITIONS TO BUYER'S OBLIGATIONS: <br /> <br />a) <br /> <br />b) <br /> <br />There must be no upset bids filed with Seller under the Negotiated Offer Law <br />mentioned hereinabove. <br />Buyer shall hav(~.50~ays from the Acceptance Date herein to enter the <br />Property and per'fo~rm all investigations it deems necessary to determine that <br />the Property is suitable for Buyer's future development and improvement <br />plans. Such investigations shall include but not be limited to: (1) zoning and <br />other governmental regulations applicable to the Property; (2) the existence of <br />hazardous materials, wastes or other conditions on or within the Property, <br />including but not limited to asbestos, urethane insulation, radon gas, and any <br />other chemical or material classified as hazardous under any federal, state or <br />local statute, regulation or ordinance; or any other conditions on or around the <br />property that might be deemed hazardous for the ownership or use thereof; <br />and (3) the title to the Property. <br /> <br /> c) If Buyer determines in its sole discretion that the Property is unsuitable as <br /> aforesaid, then Buyer shall give written notice to Seller of same, and this <br /> Contract shall thereupon te~nfinate and all earnest money shall be refunded to <br /> Buyer and each party shall be released from ~gations hereunder. Failure <br /> of Buyer to give such notification within sam 120Atay period shall void <br /> Buyer's rights under this provision. ~:~.~g/~/~ ~ /,~_ _- <br />6. SELLER'S WARRANTIES: Seller makes no warranties regarding the Property <br />and is selling the same "as is". Seller specifically disclaims any warranties regarding the <br />fitness and suitability of the Property for residential purposes with regard to flood plain, <br />wetlands or watershed issues. <br /> <br /> <br />