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l> .. terminate this Agreement. The remedies and duties provided herein are cumulative to other remedies and duties that may be provided by law for environmental matters. 7.1.6 As of the Effective Date, there are no leases, subleases or other rental or occupancy agreements with respect to or affecting the Property, except for the leases described in Schedule 7.1.6, which shall be updated by Seller prior to closing so as to delete terminated leases. 7.1.7 Except as set forth in any information provided to or made available to the City, Seller has not received written notice of any litigation or administrative proceeding affecting the Property. 7.1.8 Seller agrees and warrants that all material, workmanship, and! or building improvements provided by or on behalf of Seller under this Agreement in the course of the Work will be free of defects, will be of the specified quality, and will perform properly for a period of one year from the Closing Date. Seller will assign and deliver to the City all guarantees and warranties of all subcontractors, equipment manufacturers, and material suppliers that are applicable to the Work. This warranty will survive the Closing. 7.2 The City's Representations and Warranties. The City represents and warrants to Seller as follows: 7.2.1 The City is a duly formed and validly existing political subdivision of the Commonwealth of Virginia; 7.2.2 Subject to court approval, the City has the full legal right, power, authority and financial ability to execute and deliver this Agreement and all of the City's Documents, to consummate the transactions contemplated hereby, and to perform its obligations hereunder and under all of City's Documents; 7.2.3 This Agreement and the City's Documents do not and will not contravene any provision ofthe organizational documents of the City, any judgment, order, decree, writ or injunction issued against the City, or any provision of any laws applicable to the City. The consummation of the transactions contemplated hereby will not result in a breach or constitute a default or event of default by the City under any agreement to which the City or any of its assets are subject or bound and will not result in a violation of any laws applicable to the City; and 7.2.4 Except as set forth in any information provided to or made available to Seller, there are no pending actions, suits, proceedings or investigations to which the City is a party before any court or other governmental authority which may have an adverse impact on the transactions contemplated hereby. 7.3 Survival. The representations and warranties ofthe City and Seller set forth in this -17- Draft #4. 1