Legal LBP Disclosure Form

LEGAL LBP DISCLOSURE FORM

This Legal Lead-Based Paint (LBP) Disclosure Form is made on Date: by and between Seller/Discloser Name: whose address is , and Purchaser/Recipient Name: whose address is regarding the real property located at .

RECITALS

WHEREAS, the Property identified above was constructed in Year: , and may be subject to statutes and regulations concerning lead-based paint disclosure and hazard identification; and

WHEREAS, Seller/Discloser has, to the Seller/Discloser's knowledge, certain records and reports concerning lead-based paint or lead-based paint hazards for the Property; and

WHEREAS, Purchaser/Recipient requires disclosure of known lead-based paint and related records and an opportunity to obtain an inspection for lead-based paint hazards prior to consummation of the sale or lease.

NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein, the parties agree as follows:

1. DISCLOSURE OF PRESENCE OF LEAD-BASED PAINT

Seller/Discloser hereby discloses to Purchaser/Recipient the following factual statement regarding the presence of lead-based paint in the Property. Indicate known presence:

Known presence of lead-based paint (select applicable): Yes — Lead-based paint present No — No lead-based paint present Unknown

2. KNOWN LEAD-BASED PAINT HAZARDS

Seller/Discloser hereby discloses whether the Seller/Discloser has knowledge of lead-based paint hazards on the Property:

Known lead-based paint hazards (select applicable): Yes — Hazard(s) present No — No known hazards Unknown

3. RECORDS AND REPORTS

Seller/Discloser states that the following records and reports pertaining to lead-based paint or lead-based paint hazards are in Seller/Discloser's possession or control and are provided or made available to Purchaser/Recipient:

If no records or reports are known to Seller/Discloser, state "None known" in the field above.

4. INSPECTION PERIOD AND RIGHT TO INSPECT

Purchaser/Recipient is granted a period of Inspection Period (days): days from the date of this disclosure to conduct a risk assessment or inspection for lead-based paint or lead-based paint hazards by a qualified inspector. Purchaser/Recipient shall notify Seller/Discloser in writing of any objection to the results within the inspection period.

5. ACKNOWLEDGMENT OF RECEIPT OF INFORMATION

Seller/Discloser certifies that the following documents and information have been provided to Purchaser/Recipient:

Lead hazard information and pamphlet provided: Yes — Pamphlet provided No — Pamphlet not provided

Date pamphlet or required information received by Purchaser/Recipient:

6. SELLER CERTIFICATIONS

Seller/Discloser certifies, to the best of Seller/Discloser's knowledge, that the information in this Disclosure is true and accurate. Seller/Discloser further certifies that Seller/Discloser has not knowingly withheld any information concerning lead-based paint or lead-based paint hazards affecting the Property.

7. PURCHASER ACKNOWLEDGMENT AND WAIVER

Purchaser/Recipient acknowledges receipt of the documents and disclosures identified herein and acknowledges the opportunity to conduct a risk assessment or inspection within the inspection period. If Purchaser/Recipient elects to waive the inspection, such waiver must be indicated in writing and attached to this form.

8. REMEDIES, INDEMNIFICATION AND LIMITATIONS

Any failure to disclose known lead-based paint or lead-based paint hazards shall constitute a breach of this Disclosure and entitle the non-breaching party to pursue remedies available at law or in equity, including specific performance, damages, and indemnification for costs arising from remediation where caused by Seller/Discloser's failure to disclose. Purchaser/Recipient agrees to indemnify Seller/Discloser for any costs arising from Purchaser/Recipient's post-closing alterations to the Property that cause lead contamination, except to the extent caused by Seller/Discloser's prior nondisclosure.

9. NOTICES

All notices, demands and other communications required or permitted under this Disclosure shall be in writing and delivered to the addresses below by personal delivery, certified mail, or other commercially reasonable means.

10. MISCELLANEOUS PROVISIONS

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

Entire Agreement: This Disclosure, together with any attached reports, records or waivers, constitutes the entire agreement between the parties with respect to the subject matter herein and supersedes all prior representations or agreements, whether written or oral, relating thereto.

Severability: If any provision of this Disclosure is held invalid or unenforceable, such provision shall be severed and the remainder shall remain in full force and effect.

Amendments; Waiver; Counterparts: This Disclosure may be amended only by a written instrument signed by both parties. No waiver shall be effective unless in writing and signed by the party waiving compliance. This Disclosure may be executed in counterparts, each of which shall be deemed an original.

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