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Hazardous Materials Disclosure - Business Forms
|Hazardous Materials Disclosure Form. This is a Business Forms form and can be used in Real Estate .||
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HAZARDOUS MATERIALS DISCLOSURE RE, The PURCHASE AGREEMENT EXCHANGE AGREEMENT LEASE AGREEMENT covering the property referred to as betwee n and dated the day of 19 Various materials utilized in the construction of any improvements to Property may contain materials that have been or may be determined to be toxic, hazardous or undesirable and may require special handling and/or removal from the Property. For example, it is possible for some electrical transformers and other electrical components to contain PCBs. Asbestos has also been used tiles, spray-on acoustical materials, and floor tiles). Further, as a result of either current or prior uses, the property or improvements thereon may contain substances such as metals, minerals, chemicals, hydrocarbons, biological or radioactive materials and other substances which are currently considered, or in the future may be determined to be, toxic, hazardous or undesirable substances. Such substances may be; (1) in above and below-ground containers on the Property; (2) present accessed or noticed. Current and future federal, state and local laws and regulations may require the clean-up of any toxic, hazardous or undesirable substances. Such clean-up would be at the expense of those persons who in the past, present or future have had any interest Consequently, the Parties are advised to consult with independent legal counsel for the purpose of determining the potential liability to which each may be exposed in connection with said substances. The Parties should also consult with independent counsel to determine what provisions regarding said substances they wish to include in any contract or other legal documentation, into which they may enter, pertaining to the property. I he real estate salespeople and brokers in this transaction have no experience or expertise regarding toxic, hazardous or undesirable substances. A proper inspection of the Property by a qualified expert is necessary to determine whether there is any current or potential toxic, hazardous or undesirable substances on or about the Property. The real estate salespeople and brokers in this transaction have not made, nor will they make, any representation, either expressed or implied, regarding the existence or nonexistence of said substances on or about the Property. It is the responsibility of the Parties to determine the existence or nonexistence, if necessary rid the property, of said substances.. The Parties must seek further information concerning any and all future correctional measures, if any, from the appropriate local, state and/or Federal agencies. DATE: Seller RECEIPT ACKNOWLEDGED: DATED: Seller Buyer Buyer 2001 © American LegalNet, Inc.