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201 3!!230 e completion of the improv ng inal advance as provided in the 43uildi Loan Agreement. 48. ENVIRONMENTAL HAZARDS. (a) Definitions: sattstaetron of L ler and the ma mg of the (1) "Hazardous Materials" means petroleum and petroleum products and compounds containing them, including gasoline, diesel fuel and oil; explosives; flammable materials; radioactive materials; polychlorinated biphenyls ( "PCBs ") and compounds containing them; lead and lead -based paint; asbestos or asbestos- containing materials in any form that is or could become friable; underground or above - ground storage tanks, whether empty or containing any substance; any substance the presence of which on the Mortgaged Property is prohibited by any Governmental Authority; any substance that requires special handling; and any other material or substance now or in the future defined as a "hazardous substance," "hazardous material," "hazardous waste," "toxic substance," toxic pollutant," "contaminant," or "pollutant" within the meaning of any Hazardous Materials Law. (2) "Hazardous Materials Laws" means all federal, state, and local laws, ordinances and regulations and standards, rules, policies and other governmental requirements, administrative rulings and court judgments and decrees in effect now or in the future and including all amendments that relate to Hazardous Materials and apply to Borrower or to the Mortgaged Property. Hazardous Materials Laws include, but are not limited to, the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C. Section 9601, et seq., the Resource Conservation and Recovery Act, 42 U.S.C. Section 6901, et seq., the Toxic Substance Control Act, 15 U.S.C. Section 2601, et seq., the Clean Water Act, 33 U.S.C. Section 1251, et seq., and the Hazardous Materials Transportation Act, 49 U.S.C. Section 5101, et seq., and their state analogs. (3) "Environmental Permit" means any permit, license, or other authorization issued under any Hazardous Materials Law with respect to any activities or businesses conducted on or in relation to the Mortgaged Property. (b) Except for (1) matters covered by a written program of operations and maintenance approved in writing by Lender ( "O &M Program "), (2) matters described in paragraph (c) of this Section 48; or (3) (for so long as the Loan is insured or held by HUD) matters covered by Program Obligations that may differ from this Section 48 (with respect Pretiious editions are obsolete HUD MF Security Instrument HUD- 94000M (Rev. 04/11) Contingent Repayment Mortgage Page 37 FRENCH VILLAGE