Nautilus 2000 Annual Report Download - page 79

(e)
Neither the execution or delivery of this Agreement nor the consummation by Seller of the transactions contemplated hereby is or was
in violation of or in conflict with (i)any provision of any agreement (including, without limitation, the organizational documents under
which Seller is organized), instrument or other restriction of any kind to which Seller is a party or by which Seller or the Property is
bound or (ii)in any material or adverse way, any statute, law, decree, regulation or order of any governmental authority, or resulted or
will result in a default under any agreement, or caused or will cause the acceleration of any obligation or loan to which Seller is a party
or by which Seller or the Property is bound;
(f)
To the best of Seller's actual knowledge, there are no actions, suits, proceedings, orders or investigations pending or, to the best of
Seller's knowledge, threatened against or affecting Seller at law or in equity, or before or by any federal, state, municipal or other
governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign, which might adversely affect
Seller's performance under this Agreement or the consummation of the transactions contemplated hereby;
(g)
To the best of Seller's actual knowledge, and except as may be otherwise disclosed to Purchaser by Seller, as of the Closing Date
(i)there are no underground storage tanks or PCB containing equipment on the Property, and (ii)there is no Hazardous Material on, in,
or released from or onto, the Property and Seller has not generated, manufactured, refined, transported, stored, handled, disposed of or
released any Hazardous Material on the Property in violation of applicable law. As used herein, the term "Hazardous Material" means
any hazardous or toxic substances, materials or wastes listed in 49 C.F.R. 172.01, 40 C.F.R. Part302 and amendments thereto, or RCW
70.105D and RCW 82.21;
(h)
To the best of Seller's actual knowledge, there is not pending or, to the best of Seller's knowledge, threatened condemnation or similar
proceedings with respect to the Property or any part thereof;
(i)
To the best of Seller's actual knowledge, there is not pending or, to the best of Seller's knowledge threatened (i)public improvements
in, about or outside the Property which have resulted in or might result in the imposition of any assessment, lien or charge against
Seller, the Property or any owner of the Property, or (ii)legal action of any kind or nature, affecting Seller or the Property, which would
enjoin or restrict the right of Seller to consummate the transactions contemplated hereby;
(j)
To the best of Seller's actual knowledge, the Property is not affected by any special assessment, whether or not a lien thereon, which
has not or will not be paid in full by Seller prior to the closing Date, nor does Seller know of any pending or contemplated assessments
or similar charges which will affect the Property and, to the best of Seller's knowledge, there is no proceeding pending for any increase
of the assessed valuation of the Property or any portion thereof;
(k)
To the best of Seller's actual knowledge all Books and Records delivered to Purchaser hereunder are accurate and complete in all
material respects (unless noted otherwise) and no such Books or Records have been knowingly altered or withheld;
(l)
Seller has no actual knowledge of (i)any violation of applicable zoning, land use, building, construction, subdivision or other local,
state and federal laws, ordinances and regulations, (ii)any breach of any existing covenant, condition, restriction or easement affecting
the Property, and (iii)any encroachment on the Property;
(m)
To the best of Seller's actual knowledge, all public utilities required to operate the Property as currently operated are in place, are
connected, and in sufficient size and capacity to service
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2002. EDGAR Online, Inc.