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SECTION 3.5 FORECLOSURE OR ACQUISITION BY AMERICAN FAMILY. In the event of a foreclosure of this Trust Deed or any acquisition of the Premises by American Family, all insurance policies affecting the Premises and any proceeds payable therefrom, whether payable before or after commencement of a foreclosure action, or during the period of redemption, if any, shall become the absolute property of American Family to be utilized in American Family's sole discretion. During foreclosure or upon a failure to obtain and keep any required insurance, Borrower empowers American Family to effect insurance upon the Premises at Borrower's expense and for the benefit of American Family in the amounts and types aforesaid for a period of time covering any time lapse of insurance, including lapse during any period of redemption from foreclosure sale, and, if necessary, to cancel any or all existing insurance policies. ARTICLE 4 HAZARDOUS MATERIALS AND COMPLIANCE WITH ENVIRONMENTAL LAWS SECTION 4.1 DEFINITIONS. Unless otherwise indicated herein, any terms used in this Article 4 which are defined in state or federal statutes and /or regulations promulgated in relation thereto shall have the meaning subscribed to such terms in said statutes and regulations. SECTION 4.2 REPRESENTATIONS AND COVENANTS BY BORROWER. (a) Borrower represents, warrants and covenants that: (i) to Borrower's Knowledge, the Premises have never been used by Borrower or any occupant of the Premises while owned by Borrower to generate, manufacture, refine, transport, treat, store, handle or dispose of any Hazardous Substance in violation of applicable law, and Borrower will not use the Premises, or permit any occupant of the Premises to use the Premises, for such purposes, except for Borrower's storage, use, generation and disposal of such Hazardous Substances in material compliance with all applicable law and regulations in the ordinary course of its business; and (ii) to Borrower's Knowledge, the Premises do not presently contain any asbestos, polychlorinated biphenyls (PCBs), any paint or other surface coatings that contain lead, or other Hazardous Substances, or any underground or aboveground storage tank, and no such materials or equipment shall be utilized or installed in the course of construction of the improvements of the Premises; and (iii) to Borrower's Knowledge, the Premises at all times during Borrower's ownership thereof, have been and currently are in compliance with all Environmental Laws. Borrower and each Tenant possess, and are and have been in compliance 31