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200507874
<br />W Following the occurrence of an Event of Default hereunder, and without regard to whether Lender
<br />shall have taken possession of the Property or a receiver has been requested or appointed or any other right or
<br />remedy of Lender has or may be exercised hereunder or under any other Loan Document, Lender shall have the
<br />right (but no obligation) to conduct such investigations, studies, sampling and/or testing of the Property or any part
<br />thereof as Lender may, in its discretion, determine to conduct, relative to Hazardous Materials. All costs and
<br />expenses incurred in connection therewith including, without limitation, consultants' fees and disbursements and
<br />laboratory fees, shall constitute a part of the Debt and shall, upon demand by Lender, be immediately due and
<br />payable and shall bear interest at the Default Rate from the date so demanded by Lender until reimbursed. Borrower
<br />shall, at its sole cost and expense, fully and expeditiously cooperate in all such investigations, studies, samplings
<br />and/or testings including, without limitation, providing all relevant information and making knowledgeable people
<br />available for interviews.
<br />(j) Borrower represents and warrants that all paint and painted surfaces existing within the interior or
<br />on the exterior of the Improvements are not flaking, peeling, cracking, blistering, or chipping, and do not contain
<br />lead or are maintained in a condition that prevents exposure of young children to lead -based paint, as of the date
<br />hereof, and that the current inspections, operation, and maintenance program at the Property with respect to lead -
<br />based paint is consistent with FNMA guidelines and sufficient to ensure that all painted surfaces within the Property
<br />shall be maintained in a condition that prevents exposure of tenants to lead -based paint. To Borrower's knowledge,
<br />there have been no claims for adverse health effects from exposure on the Property to lead -based paint or requests
<br />for the investigation, assessment or removal of lead -based paint at the Property.
<br />(k) Borrower represents and warrants that except in accordance with all applicable Environmental
<br />Statutes and as disclosed in the Environmental Report, (i) no underground treatment or storage tanks or pumps or
<br />water, gas, or oil wells are or have been located about the Property, (ii) no PCBs or transformers, capacitors, ballasts
<br />or other equipment that contain dielectric fluid containing PCBs are located about the Property, (iii) no insulating
<br />material containing urea formaldehyde is located about the Property and (iv) no asbestos - containing material is
<br />located about the Property.
<br />Section 16.02, Environmental Indemnification. Borrower shall defend, indemnify and hold harmless the
<br />Indemnified Parties for, from and against any claims, demands, penalties, Imes, liabilities, settlements, damages,
<br />costs and expenses of whatever kind or nature, known or unknown, contingent or otherwise, whether incurred or
<br />imposed within or outside the judicial process, including, without limitation, reasonable attorneys' and consultants'
<br />fees and disbursements and investigations and laboratory fees arising out of, or in any way related to any
<br />Environmental Problem, including without limitation:
<br />(a) the presence, disposal, escape, seepage, leakage, spillage, discharge, emission, release or threat of
<br />release of any Hazardous Materials in, on, over, under, from or affecting the Property or any part thereof whether or
<br />not disclosed by the Environmental Report;
<br />(b) any personal injury (including wrongful death, disease or other health condition related to or
<br />caused by, in whole or in part, any Hazardous Materials) or property damage (real or personal) arising out of or
<br />related to any Hazardous Materials in, on, over, under, from or affecting the Property or any part thereof whether or
<br />not disclosed by the Environmental Report;
<br />(c) any action, suit or proceeding brought or threatened, settlement reached, or order of any
<br />Governmental Authority relating to such Hazardous Material whether or not disclosed by the Environmental Report;
<br />and/or
<br />(d) any violation of the provisions, covenants, representations or warranties of Section 16.01 hereof or
<br />of any Legal Requirement which is based on or in any way related to any Hazardous Materials in, on, over, under,
<br />from or affecting the Property or any part thereof including, without limitation, the cost of any work performed and
<br />materials furnished in order to comply therewith whether or not disclosed by the Environmental Report.
<br />GS7
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