|
202207758
<br />amount secured by this Deed of Trust and shall also be subject and subordinate to all present and future
<br />leases affecting the Premises.
<br />15. Eminent Domain. Notwithstanding any taking under the power of eminent domain, alteration of the
<br />grade of any road, alley, or the like, or other injury or damage to or decrease in value of the Premises by
<br />any public or quasi -public authority or corporation, the Grantor shall continue to pay the Liabilities in
<br />accordance with the terms of the Related Documents. By executing this Deed of Trust, the Grantor assigns,
<br />transfers and conveys the entire proceeds of any award or payment and any interest to the Lender. The
<br />Grantor will notify the Lender of any action or proceeding related to any taking of all or any part of the
<br />Premises, shall defend that action or proceeding in consultation with the Lender and shall, if requested by
<br />the Lender, deliver to the Lender all documents and instruments that may be required to allow the Lender
<br />to directly participate in or control such action or proceeding. The proceeds of any taking or grant in lieu of
<br />any taking shall be applied first toward reimbursement of all costs and expenses of the Lender in collecting
<br />the proceeds, including reasonable attorneys' fees and court costs, and then toward payment of the
<br />Liabilities, whether or not then due or payable, or the Lender, at its option, may apply the proceeds, or any
<br />part, to the alteration, restoration or rebuilding of the Premises.
<br />16. Environmental Provisions. As used herein: the term "Hazardous Substance" shall mean any
<br />substance, material, or waste that is (a) included within the definitions of "hazardous substances,"
<br />"hazardous materials," "hazardous waste," "toxic substances," "toxic materials," "toxic waste," or words of
<br />similar import in any Environmental Law, (b) listed as hazardous substances by the United States
<br />Department of Transportation or by the Environmental Protection Agency, or (c) petroleum, petroleum -
<br />related, or a petroleum by-product, asbestos or asbestos -containing material, polychlorinated biphenyls,
<br />flammable, explosive, radioactive, freon gas, radon, or a pesticide, herbicide, or any other agricultural
<br />chemical. The term "Environmental Law" shall mean any federal, state or local law, rule, regulation,
<br />decision, policy or guideline, pertaining to Hazardous Substances, or protection of the environment, and all
<br />present and future amendments thereto. Except as disclosed in writing by the Grantor to the Lender, the
<br />Grantor represents and warrants to the Lender that (i) neither the Premises nor the Grantor are in violation
<br />of any Environmental Law applicable to the Premises, or are subject to any existing, pending or threatened
<br />governmental investigation pertaining to the Premises, or are subject to any remedial obligation or lien
<br />under or in connection with any Environmental Law, (ii) the Grantor has no actual knowledge or notice of
<br />the presence or release of Hazardous Substances in, on or around any part of the Premises or the soil,
<br />groundwater or soil vapor on or under the Premises, or the migration of any Hazardous Substance, from or
<br />to any other property in the vicinity of the Premises, and (iii) the Grantor's intended future use of the
<br />Premises will not result in the release of any Hazardous Substance in, on or around any part of the Premises
<br />or in the soil, groundwater or soil vapor on or under the Premises, or the migration of any Hazardous
<br />Substance from or to any other property in the vicinity of the Premises.
<br />The Grantor shall neither use nor permit any third party to use, generate, manufacture, produce, store, or
<br />release, on, under or about the Premises, or transfer to or from the Premises, any Hazardous Substance,
<br />except in compliance with all Environmental Laws, and shall otherwise comply, at the Grantor's sole
<br />expense and responsibility, with all Environmental Laws, provided that if any such occurrence shall
<br />nevertheless happen, the Grantor shall promptly remedy such condition, at its sole expense and
<br />responsibility. The Grantor shall not permit any environmental liens to be placed on any portion of the
<br />Premises. The Grantor shall promptly -notify the Lender in writing if (a) any of the representations and
<br />warranties herein are no longer accurate, (b) there may be any Hazardous Substance in, on or around the
<br />Premises or the soil, groundwater or soil vapor on or under the Premises, or (c) any violation of any
<br />Environmental Law on or affecting or otherwise in respect of the Premises has occurred. The Lender and
<br />its agents shall have the right, and are hereby authorized, at any reasonable time to enter upon the Premises
<br />for the purposes of observing the Premises, taking and removing soil or groundwater samples, and
<br />conducting tests and/or site assessments on the Premises, or taking such other actions as the Lender deems
<br />necessary or advisable to cleanup, remove, resolve, or minimize the impact of, or otherwise deal with, any
<br />Hazardous Substances on or affecting the Premises following receipt of any notice from any person or
<br />entity asserting the existence or possible existence of any Hazardous Substances pertaining to the Premises,
<br />that, if true, could jeopardize the Lender's security for the Liabilities. All reasonable costs and expenses
<br />11
<br />
|