|
�0120277G
<br />HAZARDOUS SUBSTANCES AGREEMENT
<br />(Continued) Page 2
<br />authorizations required by Environmental Laws with respect to such Property or operations. Indemnitor shell
<br />furnish Lender with copies of all such permits and authorizations and any amendmants or renewals of them and
<br />shall notify Lender of any expiration or revocetion of such permiis or authorizations.
<br />Preventive, Investigatory and Remedial Action. Indemnitor shall exercise extreme care in handling Hazardous
<br />Substancas if IndemnRor uses or encounters any. Indemnitor, at Indemnitor's expense, shall undertake eny and ell
<br />preventive, investigatory or remedial action (including emergency responsa, removal, containment and other
<br />remedial actioni (a) required by any applicable Environmental Laws or orders by eny governmental authority heving
<br />jurisdiction under Environmental Laws, or (b) necessary to prevent or minimize property damage (including damage
<br />to Occupant's own property), personal injury or damage to the environment, or the threat of any such damage or
<br />injury, by releases of or exposure to Hazardous Substances in connection with the Property or operetions of any
<br />Occupant on the Property. In the event Indemnitor fails to perform any of Indemnitor's obligations under this
<br />sect(on of the Agreement, Lender may (but shall not be required to) perform such obligations at Indemnitor's
<br />expense. All such costs and expenses incurred by Lender under this section and otherwise under this Agreement
<br />shall be reimbursed by Indemnitor to Lender upon demand with interest at the Note default rete, or in the absence
<br />of a default rate, at the Note interest rate. Lender and Indemnitor intend that Lender shall have full recourse to
<br />Indemnitor for any sum at any time due to Lender under this Agreement. In performing any such obligationa of
<br />Indemnitor, Lender shafl et ail times be deemed to be the agent of Indemnitor and shall not by reason of such
<br />performance be deemed to be assuming any responsibility of Indemnitor under any Environmental Law or to any
<br />third party. Indemnitor hereby irrevocably appoints Lender as Indemnitor's attomey-in-fact with full power to
<br />perform such of Indemnhor's obligations under this section of the Agreement as Lender deems necessary and
<br />appropriate.
<br />Notices. Indemnitor shall immediately notify Lender upon becoming aware of any of the following:
<br />(1) Any spill, release or disposal of a Hazardous Substance on eny of the Property, or in connection with any
<br />of its operations if such spill, release or disposal must be reported to eny governmental authority under
<br />appliceble Environmerrtal Laws.
<br />(2) Any coMamination, or imminent threat of contamination, of the Property by Hazardous Substances, or
<br />any violation of Environmental Laws in connection with the Property or the operationa conducted on the
<br />Property.
<br />(3) Any ordar, notice of violation, flne or penalty or other similar action by any governmental authority relating
<br />to Hazardous Substances or Environmental Laws and the Property or the operations conducted on the
<br />Property.
<br />(41 Any judicial or administrative investigation or proceeding relating to Hazardous Substances or
<br />Environmental Laws and to the Property or the operations conducted on the Property.
<br />(5) Any matters relating to Hazardous Substences or Environmental Laws that would give a reasonably
<br />prudent Lender cause to be concemed that the value of Lender's security 3nterest in the Property may be
<br />reduced or threatened or that may lmpair, or threaten to impair, Indemnitor's ability to perform any of its
<br />obligations under this Agreement when such performance is due.
<br />Access to Records. Indemnhor shall deliver to Lender, at Lender's request, copies of any and all documents in
<br />Indemnitor's possession or to which h has access releting to Hazardous Substances or Environmental Laws and
<br />the Property and the operations conducted on the Property, including without limitation results of taboratory
<br />analyses, site assessments or studies, environmental audit reports and other consultants' studies and reports.
<br />Inspections. Lender reserves the right to inspect and investigate the Property and operations on it at any tima and
<br />from time to time, and Indemnitor shall cooperete fully with Lender in such inspection and investigations. If Lender
<br />at any time has reason to believe that Indemnitor or any Occupants of the Property are not complying uvith all
<br />applicable Environmental Laws or with the requ(rements of this Agreement or that a meterial spill, release or
<br />disposal of Hazardous Substances has occurred on or under the Property, Lender may require indemnhor to furnish
<br />Le�der at Indemnitor's expense an environmental audit or e site essessment with respect to the matters of concem
<br />to Lender. Such audit or assessment shall be performed by a qualified consultant approved by Lender. Any
<br />inspections or tests made by Lender shall be for Lender's purposes oniy and shall not be construed to create any
<br />responsibility or liability on the part of Lender to any Indemnitor or to any other person.
<br />INDEMNITOR'S WANER AND INDEMNIFICATION. Indemnitor hereby agrees to and shall indemnify, defend, and hold
<br />harmless Lender and Lender's officers, directors, employees and agents, and Lender's successors and assigns and their
<br />officers, directors, employees and agents from and against any and all claims, demands, losses, liabilities, costs, fines,
<br />penalties and expenses iincluding without limitation attorneys' fees at trial and on any appeal or petit(on for review,
<br />consultants' fees, remediel action costs, natural resource damages and diminution in valuel incurred by such person (a}
<br />arising out of or relating to any investigatory or remedial action involving the Property, the operations conducted on the
<br />Property, or any other operations of Indemnitor or any Occupant and required by Environmental Laws or by orders of
<br />any governmental authorlty having Jurisdiction under any Environmental Laws, including without limitation any natural
<br />resaurce demages, or (b) arising out of or related to any noncompliance with or violation of Environmental Laws or any
<br />applicable permits or approvals, or (c) on account of injury to Lender or any person whatsoever or damage to any
<br />property arising out of, in connection with, or in any way relating to (i) the breach of any covenant, representadon or
<br />warranty contained in this Agreement, (ii) the violation of any Environmental Laws, permits, authorizations or approvals,
<br />V
<br />�
<br />
|