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200211791 b. Environmental Baseline Survey (EBS) and Finding of Suitability to Transfer (FOST) 1. The Grantee has received the technical environmental reports, including the Environmental Baseline Survey for the Property dated 9 -20 November 1998, as amended by Amendment No. 1, signed 30 March 2001, and the FOST for the property dated January 2001, prepared by the Grantor, and agrees, to the best of the Grantee's knowledge, that they accurately describe the environmental condition of the Property. The Grantee has inspected the Property and accepts the physical condition and current level of environmental hazards on the Property and deems the Property to be safe for the Grantee's intended use. 2. If an actual or threatened release of a hazardous substance or petroleum product is discovered on the Property after the date of the conveyance, whether or not such substance was set forth in the technical environmental reports, including the EBS, Grantee or its successors or assigns shall be responsible for such release or newly discovered substance unless Grantee is able to demonstrate that such release or such newly discovered substance was due to Grantor's activities, ownership, use, or occupation of the Property. Grantee, its successors and assigns, as consideration for the conveyance, agree to release Grantor from any liability or responsibility for any claims arising solely out of the release of any hazardous substance or petroleum product on the Property occurring after the date of this Deed, where such substance or product was placed on the Property by the Grantee, or its successors, assigns, employees, invitees, agents or contractors, after the conveyance. This Subsection IV.b. shall not affect the Grantor's responsibilities to conduct response actions or corrective actions that are required by applicable laws, rules and regulations. V. GENERAL EXCEPTIONS TO CONVEYANCE This conveyance is expressly made subject to the following matters to the extent and only to the extent the same are valid and affect the Property: a. All existing permits, easements and rights -of -way for public streets, roads and highways, public utilities, electric power lines, electric transmission facilities, recreational trails, railroads, pipelines, ditches and canals on, over and across said land, whether or not of record, including but not limited to the following: 1. Easement DACA45 -2 -99 -6157 granted to Hall County for road rights -of -way. 2. Easement DACA45 -2 -00 -6023 granted to Hall County for road rights -of -way. 3. Easement DACA45 -2 -01 -6078 granted to City of Grand Island for recreation trail rights -of -way. Grantee is not permitted to disturb the area lying within the recreation trail easement. b. Any zoning laws, ordinances, or regulations governing the subject property or regulations of other regulatory authorities having jurisdiction.