Asbestos & Lead Disclosure Form

ASBESTOS & LEAD DISCLOSURE FORM

This Asbestos & Lead Disclosure Form (the "Disclosure") is made as of Effective Date: by and between Owner/Lessor Name: with principal address ("Owner"), and Recipient/Buyer/Tenant Name: with principal address ("Recipient").

RECITALS

WHEREAS, Owner is the legal owner or lessor of the real property commonly known as: (the "Property"); and

WHEREAS, asbestos-containing materials and lead-based paint and related components may exist in structures of comparable age and construction and such materials, if present, may present health hazards if disturbed during renovation, maintenance, or ordinary occupancy; and

WHEREAS, Owner and Recipient desire to set forth the known status of asbestos-containing materials and lead-based paint or lead-containing components at the Property and allocate certain responsibilities and acknowledgments regarding inspection, disclosure, and management of such materials.

NOW, THEREFORE

In consideration of the mutual covenants and agreements set forth below and other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the parties agree as follows:

1. PROPERTY DESCRIPTION

1.1. The Property subject to this Disclosure is the real property identified above, including all improvements and fixtures located thereon. Owner represents that the legal description or parcel identifier is:

2. DISCLOSURE OF KNOWN ASBESTOS AND LEAD

2.1. Known Presence. Owner certifies, to the best of Owner's actual knowledge after reasonable inquiry, the following with respect to asbestos-containing materials and lead-based paint at the Property:

Asbestos-containing materials are known to be present at the Property. Lead-based paint or lead-containing components are known to be present at the Property.

Owner has no actual knowledge of asbestos-containing materials or lead-based paint at the Property. Owner's knowledge is limited; presence is unknown.

3. INSPECTION AND ACCESS

3.1. Recipient may, at Recipient's expense and upon reasonable notice to Owner, inspect the Property for the presence of asbestos-containing materials or lead-based paint prior to closing or commencement of tenancy. Recipient shall schedule any such inspections with Owner no fewer than days' prior notice.

3.2. Owner shall provide reasonable access for such inspections during normal business hours and shall not unreasonably withhold consent.

4. OWNER REPRESENTATIONS AND DISCLOSURES

4.1. Owner represents and warrants that, to Owner's actual knowledge after reasonable inquiry, the statements in this Disclosure are true and complete as of the Effective Date. Owner does not represent or warrant the absence of latent or concealed asbestos or lead hazards not known to Owner.

4.2. Owner agrees to disclose to Recipient, promptly upon obtaining knowledge, any new information regarding the presence, removal, abatement, encapsulation, or encapsulation failure of asbestos-containing materials or lead-based paint at the Property.

5. RECIPIENT ACKNOWLEDGMENT AND ASSUMPTION OF RISK

5.1. Recipient acknowledges receipt of this Disclosure prior to execution of any purchase agreement or lease and acknowledges that Recipient has had the opportunity to review any available inspection reports and to conduct further testing.

5.2. Recipient accepts the Property in its current condition, subject to any express repairs, abatements, or remediation specifically agreed in writing elsewhere. Recipient agrees to comply with applicable laws and regulations regarding disturbance, removal, or encapsulation of asbestos-containing materials and lead-based paint and to engage licensed and qualified contractors where required.

Recipient acknowledges and accepts the terms of this Disclosure.

6. MAINTENANCE, REPAIR AND REMEDIATION

6.1. Unless otherwise agreed in writing, Owner shall not be required to repair, remove, or remediate asbestos-containing materials or lead-based paint discovered after the Effective Date, except where such obligation is imposed by operation of law, a governmental order, or separate written agreement between the parties.

6.2. Any repair, removal, or remediation performed by or on behalf of Recipient shall be conducted in a manner that protects building occupants, workers, and the environment, and shall comply with all legally required permits, notifications, and containment and disposal practices.

7. INDEMNIFICATION

7.1. Recipient shall indemnify, defend, and hold harmless Owner and Owner's agents, employees, successors and assigns from and against any and all claims, liabilities, losses, damages, costs, and expenses (including reasonable attorneys' fees) arising out of or resulting from Recipient's removal, disturbance, or improper handling of asbestos-containing materials or lead-based paint, except to the extent such claims arise from Owner's gross negligence or willful misconduct.

7.2. Owner shall indemnify, defend, and hold harmless Recipient from claims arising from Owner's intentional concealment of known asbestos or lead hazards or Owner's willful failure to disclose material information regarding known hazards.

8. REMEDIES

8.1. The parties' remedies for breach of this Disclosure shall include all remedies available at law or in equity, including specific performance, injunctive relief, and recovery of damages and costs incurred as a result of the breach.

NOTICES

9.1. All notices under this Disclosure shall be in writing and delivered personally, by nationally recognized overnight courier, or by certified mail, return receipt requested, to the addresses below or to such other address as a party designates in writing:

AMENDMENTS; WAIVER; COUNTERPARTS

10.1. This Disclosure may be amended only by a written instrument executed by both parties. No waiver of any provision of this Disclosure shall be effective unless in writing and signed by the party granting the waiver.

10.2. This Disclosure may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument. Facsimile, electronically scanned, or other reproductions of executed signature pages shall be effective as originals.

GOVERNING LAW; ENTIRE AGREEMENT; SEVERABILITY

11.1. Governing Law. This Disclosure shall be governed by and construed in accordance with the laws of the State of , without regard to choice-of-law rules.

11.2. Entire Agreement. This Disclosure constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior written or oral agreements and understandings relating thereto.

11.3. Severability. If any provision of this Disclosure is held invalid, illegal or unenforceable by a court of competent jurisdiction, the remaining provisions shall remain in full force and effect and shall be construed so as to give effect to the parties' intent to the fullest extent permitted by law.

MISCELLANEOUS

12.1. Interpretation. The headings in this Disclosure are for convenience of reference only and shall not affect the interpretation of this Disclosure. The words "including" and "includes" are to be construed without limitation.

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