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<br />irrevocably directs, while any Obligations remain unpaid, any insurer to pay to the
<br />Beneftciary the proceeds of all such insurance and any premium refund; and authorizes the
<br />Beneficiary to endorse the Trustor's name to effect the same, to make, adjust or settle, in the
<br />Trustor's name, any claim on any insurance policy relating to the Premises. The proceeds and
<br />refunds will be applied as set forth in the Loan Agreement.
<br />2.7 Condemnation. Any compensation received for the taking of the Premises, or
<br />any part thereof, by a condemnation proceeding (including payments in cotnprotnise of
<br />condemnation proceedings), and all compensation received as damages for injury to the
<br />Premises, or any part thereof, shall be applied as set forth in the Loan Agreement.
<br />2.8 Environmental Matters. Trustor represents and warrants as follows: To the best
<br />of Trustor's actual knowledge, there exists no uncorrected violation by the Trustor of any
<br />federal, state or local laws (including statutes, regulations, ordinances or other governmental
<br />restrictions and requirements) relating to the discharge of air pollutants, water pollutants or
<br />process waste water or otherwise relating to the environment or Hazardous Substances as
<br />hereinafter defined, whether such laws currently exist or are enacted in the future (collectively
<br />"Environmental Laws"). The term "Hazardous Substances" will mean any hazardous or toxic
<br />wastes, chemicals or other substances, the generation, possession or existence of which is
<br />prohibited or governed by any Environmental Laws. The Trustor is not subject to any
<br />judgment, decree, order or citation, or a party to (or threatened with) any litigation or
<br />administrative proceeding, which asserts that the Trustor (a) has violated any Environmental
<br />Laws; (b) is required to clean up, remove or take remedial or other action with respect to any
<br />Hazardous Substances (collectively "Remedial Action"); or (c) is required to pay all or a
<br />portion of the cost of any Remedial Action, as a potentially responsible party. There are not
<br />now, nor to the best of Trustor's actual knowledge have there ever been, any Hazardous
<br />Substances (or tanks or other facilities for the storage of Hazardous Substances) stored,
<br />deposited, recycled or disposed of on, under or at any real estate owned or occupied by the
<br />Trustor during the periods that the Trustor owned or occupied such real estate, which if
<br />present on the real estate or in soils or ground water, could require Remedial Action. To the
<br />best of Trustor's actual knowledge, there are no proposed or pending changes in
<br />Environmental Laws which would adversely affect the Trustor or its business, and there are
<br />no conditions existing currently which would subject the Trustor to Remedial Action or other
<br />liability. To the best of Trustor's actual knowledge, Trustor currently complies with and will
<br />continue to timely comply with all applicable Environmental Laws; and will provide the
<br />Beneftciary, immediately upon receipt, copies of any correspondence, notice, complaint, order
<br />or other document from any source asserting or alleging any circumstance or condition which
<br />requires or may require a financial contribution by the Trustor or Remedial Action or other
<br />response by or on the part of the Trustor under Environmental Laws, or which seeks damages
<br />or civil, criminal or punitive penalties from the Trustor for an alleged violation of
<br />Environmental Laws. In the event of any such circumstance or condition, the Trustor agrees,
<br />at its expense and at the request of the Beneficiary, to permit an environmental audit solely for
<br />the benefit of the Beneficiary, to be conducted. by the Beneficiary or an independent agent
<br />selected by the Beneficiary and which may not be relied on by the Trustor for any purpose.
<br />This provision shall not relieve the Trustor froth conducting its awn environmental audits or
<br />taking any other steps necessary to comply with Environmental Laws.
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