Lead Disclosure Document

LEAD DISCLOSURE DOCUMENT

This Lead Disclosure Document (the "Disclosure") is executed as of Date: by and between Client Name: ("Seller/Discloser"), and Buyer Name: ("Buyer/Recipient"). The Seller and Buyer are sometimes referred to herein collectively as the "Parties."

RECITALS

WHEREAS, Seller is the current owner of real property located at: (the "Property"); and

WHEREAS, the Parties intend that Buyer may acquire, lease, occupy or otherwise take an interest in the Property; and

WHEREAS, federal and common-law principles impose disclosure obligations regarding the presence of lead-based paint or lead-based paint hazards in certain residential dwellings, and the Parties desire to set forth the Seller's known information and the Buyer's rights with respect to such matters.

NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

1. DEFINITIONS

For purposes of this Disclosure the following terms have the meanings set forth below:

"Lead-based paint" means paint or other surface coatings that contain lead in excess of applicable regulatory thresholds and which may pose a health risk if disturbed or deteriorating.

"Lead-based paint hazard" means any condition that causes exposure to lead from lead-contaminated dust, lead-contaminated soil, or deteriorating lead-based paint that is likely to result in adverse human health effects.

2. SELLER'S DISCLOSURE

2.1 Seller represents, to the best of Seller's actual knowledge after reasonable inquiry, the following information with respect to lead-based paint and lead-based paint hazards at the Property:

a) Year Property constructed:

b) Seller's knowledge of lead-based paint or lead-based paint hazards at the Property (check one): Known lead-based paint or hazard present No known lead-based paint or hazard

c) Seller hereby discloses the existence, location and nature of any known lead-based paint, lead-based paint hazards, and any records or reports pertaining to lead testing, abatement or risk assessments that are in Seller's possession or control. Describe known records, reports, tests, treatments, and dates below:

d) If remediation, abatement or interim controls have been performed, supply the name of the contractor or firm, the date(s) of work, and a brief description of work performed:

3. BUYER'S ACKNOWLEDGMENTS

3.1 Buyer acknowledges receipt of all disclosures and any records or reports identified by Seller above and acknowledges the right to receive available documentation relating to lead-based paint and lead-based paint hazards.

3.2 Buyer acknowledges that Buyer has been advised of the potential health risks associated with lead exposure, including but not limited to neurological and developmental harm to children, and the necessity of following safe work practices during renovation or maintenance activities that may disturb painted surfaces.

3.3 Buyer indicates receipt of the disclosures described above by checking the following box: Buyer acknowledges receipt of Seller's lead disclosures and records

4. RIGHT TO INSPECT

4.1 Buyer shall have the right, at Buyer's expense, to obtain a lead-based paint inspection or risk assessment of the Property within calendar days following execution of any purchase agreement or contract between the Parties. Such inspection shall be performed by a qualified inspector or risk assessor selected by Buyer.

4.2 If inspection results reveal a lead-based paint hazard not previously disclosed by Seller, Buyer may pursue the remedies set forth in Section 5 or as otherwise permitted by applicable law.

5. REMEDIES

5.1 The Parties agree that, in the event that Buyer discovers a material undisclosed lead-based paint hazard that was known to Seller and not disclosed in this Disclosure, Buyer may, at Buyer's election, pursue one or more of the following remedies: (a) seek remediation of the hazard at Seller's expense; (b) seek a reduction in the purchase price reasonably related to the cost of remediation; (c) terminate the purchase agreement and obtain return of deposits; and/or (d) pursue any other remedies available at law or in equity. These remedies are cumulative and do not exclude other legal remedies.

6. INDEMNIFICATION

6.1 Seller shall indemnify, defend and hold Buyer harmless from and against any and all claims, losses, liabilities, costs and expenses (including reasonable attorneys' fees) arising out of Seller's failure to disclose known lead-based paint or lead-based paint hazards, or Seller's failure to provide records or reports within Seller's possession or control.

7. NOTICES

7.1 All notices under this Disclosure shall be in writing and shall be deemed delivered when delivered in person, or three (3) days after deposit in the United States mail, postage prepaid, or upon confirmed electronic transmission if agreed in writing by the Parties.

8. MISCELLANEOUS

Governing Law: This Disclosure shall be governed by and construed in accordance with the laws of the state where the Property is located, without regard to its conflicts of laws principles.

Entire Agreement: This Disclosure constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior oral or written representations or agreements regarding lead-based paint disclosures for the Property.

Severability: If any provision of this Disclosure is held to be invalid, illegal or unenforceable by a court of competent jurisdiction, the remaining provisions shall continue in full force and effect to the fullest extent permitted by law.

Amendments and Waiver: No amendment, modification or waiver of any provision of this Disclosure shall be effective unless in writing and signed by both Parties. No waiver by either Party of any default shall be deemed a waiver of any subsequent default.

Counterparts: 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.

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