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2014036/3
<br />(iii) There are not now any underground storage tanks located on the Property,
<br />whether presently in service or closed, abandoned, or decommissioned, and no
<br />underground storage tanks have been removed from the Property in a manner not
<br />in compliance with applicable federal, state, and local laws, regulations, and
<br />requirements.
<br />Without limitation of any other indemnity or release set forth in this Conservation
<br />Easement, Grantee releases and shall indemnify, defend and hold the Conservancy and its
<br />directors, officers and employees, harmless from any liability related to Grantee's
<br />representations and warranties in this Conservation Easement or related to the use, deposit or
<br />release of any substances regulated by Environmental Laws on the Property. Nothing in this
<br />Conservation Easement shall be construed as giving rise, in the absence of a judicial decree, to
<br />any right or ability to the Conservancy to exercise physical or managerial control over the day -
<br />to -day operations of the Property, or any of Grantee's activities on the Property, or otherwise to
<br />become an operator with respect to the Property within the meaning of the Comprehensive
<br />Environmental Response, Compensation, and Liability Act of 1980, as amended ( "CERCLA "),
<br />or any successor, related, or similar law, or any corresponding state statute.
<br />19. COMPLIANCE WITH APPLICABLE LAWS. Grantee shall comply with all
<br />statutes, laws, ordinances, rules, regulations, codes, orders, guidelines, or other restrictions, or
<br />requirements applicable to the Property. Nothing herein shall be construed to allow Grantee to
<br />engage in any activity which is restricted or prohibited by law, restrictions or other requirements
<br />applicable to the Property.
<br />20. SEVERABILITY. If any provision of this Conservation Easement is found to be
<br />invalid, the remaining provisions shall not be altered thereby.
<br />21. PARTIES. Every provision of this Conservation Easement that applies to Grantee or the
<br />Conservancy shall also apply to their respective heirs, executors, administrators, assigns, and all
<br />other successors as their interest may appear. A person's or entity's obligation hereunder as
<br />Grantee, or successor owner of the Property, shall be joint and several, and will cease, if and
<br />when such person or entity ceases to have any present, partial, contingent, collateral, or future
<br />interest in the Property (or pertinent portion thereof), but only to the extent that the Property (or
<br />relevant portion thereof) is then in compliance herewith. Responsibility of owners for breaches
<br />of this Conservation Easement that occur prior to transfer of title will survive such transfer,
<br />provided that the new owner shall also be responsible for bringing the Property into compliance.
<br />22. RE- RECORDING. In order to ensure the perpetual enforceability of the Conservation
<br />Easement, the Conservancy is authorized to re- record this instrument or any other appropriate
<br />notice or instrument; for such purpose, Grantee appoints the Conservancy as Grantee's attorney -
<br />in -fact to execute, acknowledge and deliver any necessary instrument on Grantee's behalf.
<br />Without limiting the foregoing, Grantee agrees to execute any such instruments upon request.
<br />23. SUBSEQUENT LIENS ON PROPERTY. No provision of this Conservation Easement
<br />should be construed as impairing the ability of Grantee to use this Property as collateral for
<br />subsequent borrowing, provided that any mortgage or lien arising from such a borrowing is
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