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200507874
<br />"Engineer" shall have the meaning set forth in Section 3.04(b)(i) hereof.
<br />"Engineering Escrow Sub - Account" shall mean the Sub - Account of the Central Account established
<br />pursuant to Section 5.02 hereof, maintained pursuant to Section 5.12 hereof and funded on the Closing Date relating
<br />to payments for any Required Engineering Work.
<br />"Environmental Problem" shall mean any of the following:
<br />(a) the presence of any Hazardous Material on, in, under, or above all or any portion of the
<br />Property except those Hazardous Materials used in the ordinary course of Borrower's business, in
<br />compliance with, and not likely to give rise to liability under, Environmental Statutes;
<br />(b) the release or threatened release of any Hazardous Material from or onto the Property;
<br />(c) the violation or threatened violation of any Environmental Statute with respect to the
<br />Property; or
<br />(d) the failure to obtain or to abide by the terms or conditions of any permit or approval
<br />required under any Environmental Statute with respect to the Property.
<br />A condition described above shall be an Environmental Problem regardless of whether or not any Governmental
<br />Authority has taken any action in connection with the condition and regardless of whether that condition was in
<br />existence on or before the date hereof.
<br />"Environmental Report" shall mean the environmental audit report for the Property and any supplements or
<br />updates thereto, previously delivered to Lender in connection with the Loan.
<br />"Environmental Statute" shall mean any federal, state or local statute, ordinance, rule or regulation, any
<br />judicial or administrative order (whether or not on consent) or judgment applicable to Borrower or the Property
<br />including, without limitation, any judgment or settlement based on common law theories, and any provisions or
<br />condition of any permit, license or other authorization binding on Borrower relating to (a) the protection of the
<br />environment, the safety and health of persons (including employees) or the public welfare from actual or potential
<br />exposure (or effects of exposure) to any actual or potential release, discharge, disposal or emission (whether past or
<br />present) of any Hazardous Materials or (b) the manufacture, processing, distribution, use, treatment, storage,
<br />disposal, transport or handling of any Hazardous Materials, including, but not limited to, the Comprehensive
<br />Environmental Response, Compensation and Liability Act of 1980 ( "CERCLA "), as amended by the Superfund
<br />Amendments and Reauthorization Act of 1986, 42 U.S.C. §9601 et seg, the Solid Waste Disposal Act, as amended
<br />by the Resource Conservation and Recovery Act of 1976, as amended by the Solid and Hazardous Waste
<br />Amendments of 1984, 42 U.S.C. §6901 et sue, the Federal Water Pollution Control Act, as amended by the Clean
<br />Water Act of 1977, 33 U.S.C. § 1251 et seq., the Toxic Substances Control Act of 1976, 15 U.S.C. §2601 et seq., the
<br />Emergency Planning and Community Right -to -Know Act of 1986,42 U.S.C. §1101 et se .the Clean Air Act of
<br />1966, as amended, 42 U.S.C. §7401 et jiM., the National Environmental Policy Act of 1975, 42 U.S.C. §4321, the
<br />Rivers and Harbors Act of 1899, 33 U.S.C. §401 et sec.., the Endangered Species Act of 1973, as amended, 16
<br />U.S,C. §1531 et sue, the Occupational Safety and Health Act of 1970, as amended, 29 U.S.C. §651 et sew,., and the
<br />Safe Drinking Water Act of 1974, as amended, 42 U.S.C. §300(f) et sew,-, and all rules, regulations and guidance
<br />documents promulgated or published thereunder.
<br />"Equipment' shall have the meaning set forth in granting clause (d) of this Security Instrument.
<br />" ERISA" shall mean the Employee Retirement Income Security Act of 1974, as amended from time to
<br />time, and the regulations promulgated thereunder. Section references to ERISA are to ERISA, as in effect at the
<br />date of this Security Instrument and, as of the relevant date, any subsequent provisions of ERISA, amendatory
<br />thereof, supplemental thereto or substituted therefor.
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