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2oiooo~5i have been released, stored or disposed of on or around the Mortgaged. Property in violation of applicable Environmental Laws or that the Mortgaged Property may be in violation of the applicable Environmental Laws, Borrower shall provide, at Borrower's sole cost and expense, an inspection or audit of the Mortgaged Property prepared by a hydrogeologist or environmental engineer or other appropriate consultant approved by Lender in its reasonable discretion indicating the presence or absence of Hazardous Substances on the Mortgaged Property (except those substances stored, used or sold by Borrower, Lessee or other tenants of the Mortgaged Property in the ordinary course of their respective businesses and in compliance with applicable Environmental Laws) or an inspection ar audit of the Improvements prepared by an engineering ar consulting firm approved by Lender in its reasonable discretion indicating the presence or absence of friable asbestos or substances containing asbestos on the Mortgaged Property. If Borrower fails to provide such inspection or audit within forty-five (45) days after such request, Lender may order the same, and Borrower hereby grants to Lender and its employees and agents access to the Mortgaged Property, subject to the rights of Lessee under the Lease, and a license to undertake such inspection ar audit. The cost of such inspection or audit, together with interest thereon at the Overdue Rate from the date incurred by Lender until actually paid by Borrower, shall be immediately paid by Borrower on demand and shall be secured by this Security Instrument and by all of the other Loan Documents securing all or any part of the indebtedness evidenced by the Note. (e) Without limiting the foregoing, where recommended by the Environmental Report and/or a "Phase I" or "Phase II" assessment, Borrower shall establish and comply, or shall cause Lessee to establish and comply, with an operations and maintenance program relative to the Mortgaged Property, in form and substance reasonably acceptable to Lender, prepared by an environmental consultant reasonably acceptable to Lender, which program shall address any Hazardous Substances (except those substances stored, used or sold by Borrower, Lessee or other tenants of the Mortgaged Property in the ordinary course of their respective businesses and in compliance with Environmental Laws) (including asbestos containing material or lead based paint) that may now or in the future be detected an the Mortgaged Property. Without limiting the generality of the preceding sentence, Lender may require (i) periodic notices ar reports to Lender in form, substance and at such intervals as Lender may specify to address matters raised in the Environmental Report and/or a "Phase I" or "Phase II" assessment, (ii) an amendment to such operations and maintenance program to address changing circumstances, laws or other matters, (iii) where reasonable cause therefor is present as determined by Lender, at Borrower's sole expense, supplemental examination of the Mortgaged Property by consultants reasonably specified by Lender to address matters raised in the Environmental Report and/or a "Phase I" or "Phase II" assessment, (iv) subject to the terms of the Lease, access to the Mortgaged Property, by Lender, its agents or servicer, to review and assess the environmental condition of the Mortgaged Property and Borrower's compliance with any operations and maintenance program, and (v) variation of the operations Sp 15445229.4.Bl1SINF..Ss