200604217 - Laserfiche WebLink

Browse

f" ~ .It II" 200604217 necessary, convenient, or proper to determine whether the ownership, use and operation ofthe Project and the conduct ofthe activities engaged in thereon are in compliance with Applicable Environmental Law. Purchaser and Issuer, or its designated agents, shall have the right to inspect and copy alI of Company's records relating to environmental matters and to enter all buildings or facilities of Company for such purpose. In confirmation of Purchaser's and Issuer's rights to inspect and copy all of Company's records relating to environmental matters and to secure Company's obligations to Purchaser and Issuer under this Mortgage, Company hereby grants to Purchaser and Issuer a continuing security interest in and to all of Company's existing and future records with respect to environmental matters, whether or not located at the Project or elsewhere, whether or not in the possession of Company or some third party (including any federal, state, or local agency or instrumentality) and whether or not written photographic, or computerized, and the proceeds and products thereof. Purchaser and Issuer, or its designated agent, may interview any or all of Company's agents and employees regarding environmental matters, including any consultants or experts retained by Company, all of whom are directed to discuss environmental issues fully and openly with Purchaser and Issuer or its designated agent and to provide such information as may be requested by Purchaser and Issuer. All ofthe costs and expenses incurred by Purchaser and Issuer with respect to the audits, tests, inspections and examination which Purchaser and Issuer may conduct, including the fees ofthe engineers, laboratories and contractors, shall be paid by Company. Purchaser and Issuer may, but shall not be required to, advance such costs and expenses on behalf of Company. All sums so advanced shall bear interest at the Default Rate provided in the Note. (ii) Purchaser and Issuer shall have the right (but not the obligation) and without limitation of Purchaser's and Issuer's other rights under this Mortgage, to enter onto any of the Project to conduct or to take such other actions as it deems necessary or advisable to clean up, remediate, encapsulate, remove, resolve or minimize the impact of, or otherwise deal with, any Contaminants or Enforcement Actions or breaches of any Applicable Environmental Law pertaining to the Project or any part thereof which could result in an order, suit or other action against Company or which, in the sole opinion of Purchaser and Issuer, could otherwise jeopardize its security under this Mortgage. All reasonable costs and expenses incurred by Purchaser and Issuer in the exercise of any such rights shall be secured by this Mortgage and shall be payable together with interest at the default Rate provided in the Note, by Company upon demand. 24