tract 1 for lots 20,21, block 52, Town of La Porte, tract 2-0.241 acre tract, all of lots 7-9, block 52/grantee City of La Porte Development Corporation

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SUBJECT TO: 1) The Zoning Ordinance of the City of La Porte. 2) Protrusion of covered concrete over the boundary line along the south property line of Tract 2 as evidenced by survey dated October 21, 2011, prepared by James R. McClelland, Registered Professional Land Surveyor No. 4980. 3) Protrusion of asphalt over and along the boundary line along the west property line of Tract 2 as evidenced by survey dated October 21, 2011, prepared by James R. McClelland, Registered Professional Land Surveyor No. 4980. 4) That certain Restriction Agreement dated May 15, 2012, by and between the City of La Porte, a municipal corporation, and K. Belle Interests, LLC, a Texas limited liability company; thereafter assigned by K. Belle Interests, LLC, to APB Properties, LLC, as recorded under Harris County Clerk's File No. IADIA pA:�5$I1` THIS PROPERTY IS HEREBY CONVEYED "AS IS", "WHERE IS" AND WITH ALL FAULTS AND GRANTOR MAKES NO REPRESENTATION OR WARRANTY WHATSOEVER WHETHER EXPRESSED, IMPLIED OR STATUTORY WITH RESPECT TO THE PROPERTY, THE AVAILABILITY OF UTILITIES, ACCESS OF THE PROPERTY TO PUBLIC ROADS, APPLIANCES OR THE CONDITION, ADEQUACY OR SUITABILITY OF THE PROPERTY FOR PURPOSES. GRANTEE AGREES THAT GRANTEE IS NOT RELYING ON ANY WARRANTY OR REPRESENTATIONS OF GRANTOR OR ANY AGENT, EMPLOYEE, REPRESENTATIVE, DIRECTOR OR OFFICER OF GRANTOR, AND THAT GRANTEE IS BUYING THE PROPERTY "AS IS", "WHERE IS", SUBJECT TO ALL FAULTS AND WITHOUT ANY EXPRESSED OR IMPLIED WARRANTIES OF ANY KIND, INCLUDING BUT NOT LIMITED TO, MATERIALS, WORKMANSHIP, GOOD AND WORKMANLIKE CONSTRUCTION, DESIGN, CONDITION, HABITABILITY, TENANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, MERCHANTABILITY OR THE ENVIRONMENTAL CONDITION OF THE PROPERTY AND THE PRESENCE OF OR CONTAMINATION BY HAZARDOUS MATERIALS AND GRANTOR HEREBY DISCLAIMS ANY SUCH WARRANTY. GRANTEE HAS DETERMINED ON GRANTEE'S BEHALF (I) THE PHYSICAL CONDITION OF THE PROPERTY AND THAT THERE IS NO DEFECT OR CONDITION WHICH IS UNACCEPTABLE TO GRANTEE, (II) WHETHER ANY PORTION OF THE PROPERTY LIES IN ANY FLOOD PLAIN, FLOOD WAY OR SPECIAL FLOOD HAZARD AREA, (III) WHETHER ANY GEOLOGICAL FAULT OR UNSATISFACTORY SOIL CONDITION EXISTS ON ANY PORTION OF THE PROPERTY, AND (IV) THAT ALL ENVIRONMENTAL CONDITIONS RELATING TO THE PROPERTY ARE ACCEPTABLE TO GRANTEE. GRANTEE ACKNOWLEDGES THAT GRANTOR MAY HAVE ACQUIRED TITLE TO THE PROPERTY BY FORECLOSURE, DEED IN LIEU THEREOF OR OTHER REALIZATION OF ITS LIEN OR SECURITY INTEREST IN THE PROPERTY. GRANTEE FURTHER ACKNOWLEDGES THAT GRANTOR HAS NOT OCCUPIED THE PROPERTY AND THEREFORE, THE PROPERTY MAY CONTAIN DEFECTS OR MAY BE IN NEED OF REPAIR. V,