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200304885 2. If an actual or threatened release of a hazardous substance or petroleum product is discovered on the Property after 26 January 1997, whether or not such substance was set forth in the technical environmental reports, including the EBS, Grantee or its successors or assigns shall be responsible for such release or newly discovered substance unless Grantee is able to demonstrate that such release or such newly discovered substance was due to Grantor's activities, ownership, use, or occupation of the Property prior to 27 January 1997. Grantee, its successors and assigns, as consideration for the conveyance, agree to release Grantor from any liability or responsibility for any claims arising solely out of the release of any hazardous substance or petroleum product on the Property occurring after 26 January 1997, where such substance or product was placed on the Property by the Grantee, or its successors, assigns, employees, invitees, agents or contractors. This Subsection IV.b.2. shall not affect the Grantor's responsibilities to conduct response actions or corrective actions that are required by applicable laws, rules and regulations. c. Conditions of Perpetual Easement Grantee acknowledges that on 27 January 1997 it was granted a perpetual easement (DACA45 -2 -97 -6024) for an electric distribution system that included the substation that is situated on the property. Grantee also acknowledges that in accordance with said easement, Conditions 5, 8, 9, 10, 12, 14, 15, and 22 of said easement are non - transferrable rights of the grantor and survive this conveyance to the grantee. V. GENERAL EXCEPTIONS TO CONVEYANCE This conveyance is expressly made subject to the following matters to the extent and only to the extent the same are valid and affect the Property: a. All existing permits, easements and rights -of -way for public streets, roads and highways, public utilities, electric power lines, electric transmission facilities, recreational trails, railroads, pipelines, ditches and canals on, over and across said land, whether or not of record, including but not limited to the following: 1. Easement DACA45 -2 -99 -6157 granted to Hall County for road rights -of -way. 2. Easement DA25- 066 -ENG -11968 granted to Consumers Public Power District for electric power -line rights -of -way. 3. Easement DACA45 -2 -97 -6024 granted to Southern Nebraska Rural Public Power District (SPPD) for electric power -line and substation rights -of -way. b. Any zoning laws, ordinances, or regulations governing the subject property or regulations of other regulatory authorities having jurisdiction. c. Matters which would be disclosed by a careful physical inspection of the property or the property records and by a properly conducted survey of the property. 4