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88_1043411 Mortgagor further represents, covenants and warrants that it will not engage in the business of generating, transporting, storing, treating or disposition of hazardous substances or hazardous waste or pollutants or contaminants (as those terms are defined in the Comprehensive Environmental Response, Compensation and Liability Act of 1980, 42 U.S.C. section 9601 et seg., as now or hereafter amended or other federal, state or local law, rule or ordinance) on the Land or adjoining land, and that Mortgagor will itself and will cause all other persons caused or permitted to be on the Land to follow and comply with all applicable federal, state and local environmental laws and regulations. As used herein "toxic or hazardous substances or wastes" and "pollutants or contaminants" include all such substances, wastes, pollutants or contaminants as defined under federal or state law. Mortgagor covenants and agrees to indemnify, hold'harmless, and defend Mortgagee from and against any and all liability, loss, damage, claim and expense which is the result of a release or threatened release of hazardous substances deposited, stored, disposed of, placed on or which otherwise came to be located on the Premises, or which is the result of the existence or emission of any hazardous, toxic or contaminated chemicals, substances, materials or pollutants in, on or from the premises during or prior to the period of Mortgagor's ownership or possession of the Premises, except only that Mortgagor shall not be obligated to indemnify Mortgagee or be liable to Mortgagee if the hazardous, toxic or contaminated chemical substances, materials or pollutants involved are caused or permitted by Mortgagee to be brought upon the Premises after Mortgagor ceases to own the premises or after Mortgagor ceases to be in possession of the premises, either directly or through Mortgagor's agents, employees, related entities or tenants. The foregoing representations, covenants, agreements, and warranties shall survive this Mortgage and its release or satisfaction or foreclosure. ARTICLE II Default 2.1 Event of Default Defined. Each of the following occurrences shall constitute an Event of Default hereunder (herein called "Event of Default"): (a) Mortgagor shall fail to pay when due, according to its terms, the Note or any other Indebtedness, or shall fail duly to perform any of the other covenants, agreements and obligations of Mortgagor under this Mortgage; (b) any representation or warranty made by Mortgagor in any assignment or agreement between Mortgagor and Mortgagee or made by Mortgagor or any guarantor in any financial statements or -12- u