IS CONTINUING OR LENDER IN ITS GOOD FAITH JUDGMENT
DETERMINES THAT REASONABLE CAUSE EXISTS FOR THE PERFORMANCE OF SUCH
ENVIRONMENTAL INSPECTION OR AUDIT, THEN THE COST AND EXPENSE OF SUCH AUDIT OR
INSPECTION SHALL BE PAID BY THE BORROWERS, OTHERWISE THE COST AND EXPENSE OF
SUCH AUDIT OR INSPECTION SHALL BE PAID BY LENDER. SUCH INSPECTIONS AND AUDIT MAY
INCLUDE SOIL BORINGS AND GROUND WATER MONITORING, SUBJECT TO THE RIGHTS OF
TENANTS AND OCCUPANTS OF THE APPLICABLE PROPERTY.
IF THE BORROWERS FAIL TO
PROVIDE ANY SUCH INSPECTION OR AUDIT WITHIN THIRTY (30) DAYS AFTER SUCH REQUEST,
LENDER MAY ORDER SAME, AND THE BORROWERS HEREBY GRANTS TO LENDER AND ITS
EMPLOYEES AND AGENTS ACCESS TO SUCH PROPERTY AND A LICENSE TO UNDERTAKE SUCH
INSPECTION OR AUDIT.
IF LENDER UNDERTAKES SUCH INSPECTION OR AUDIT, (I) LENDER
SHALL CAUSE ALL PARTIES ACCESSING THE APPLICABLE PROPERTY TO BE ADEQUATELY
INSURED (AND NAMING THE APPLICABLE BORROWER AS ADDITIONAL INSURED, IF AVAILABLE
AT NO ADDITIONAL COST TO LENDER) AND (II) LENDER SHALL USE, AND CAUSE ALL
PERSONS ACCESSING THE APPLICABLE PROPERTY TO USE, COMMERCIALLY REASONABLE
EFFORTS NOT TO UNREASONABLY INTERFERE WITH THE USE, OCCUPANCY AND ENJOYMENT OF
SUCH PROPERTY BY THE APPLICABLE BORROWER AND THE TENANTS AND OCCUPANTS THEREOF.
(C)
IF ANY ENVIRONMENTAL SITE ASSESSMENT REPORT PREPARED IN CONNECTION
WITH SUCH INSPECTION OR AUDIT RECOMMENDS THAT AN OPERATIONS AND MAINTENANCE PLAN
BE IMPLEMENTED FOR ANY HAZARDOUS SUBSTANCE, WHETHER SUCH HAZARDOUS SUBSTANCE
EXISTED PRIOR TO THE OWNERSHIP OF THE PROPERTY IN QUESTION BY ANY BORROWER, OR
PRESENTLY EXISTS OR IS REASONABLY SUSPECTED OF EXISTING, THE BORROWERS SHALL
CAUSE SUCH OPERATIONS AND MAINTENANCE PLAN TO BE PREPARED AND IMPLEMENTED AT
THEIR EXPENSE UPON REQUEST OF LENDER, AND WITH RESPECT TO ANY TOXIC MOLD, THE
BORROWERS SHALL TAKE ALL ACTION NECESSARY TO CLEAN AND DISINFECT ANY PORTIONS OF
THE IMPROVEMENTS WITH RESPECT TO SUCH PROPERTY AFFECTED BY TOXIC MOLD IN OR
ABOUT SUCH IMPROVEMENTS, INCLUDING PROVIDING ANY NECESSARY MOISTURE CONTROL
SYSTEMS AT SUCH PROPERTY.
IF ANY INVESTIGATION, SITE MONITORING, CONTAINMENT,
CLEANUP, REMOVAL, RESTORATION OR OTHER WORK OF ANY KIND IS REASONABLY NECESSARY
UNDER AN APPLICABLE ENVIRONMENTAL LAW ("REMEDIAL WORK"), THE BORROWERS SHALL
COMMENCE ALL SUCH REMEDIAL WORK WITHIN THIRTY (30) DAYS AFTER WRITTEN DEMAND BY
LENDER AND THEREAFTER DILIGENTLY PROSECUTE TO COMPLETION ALL SUCH REMEDIAL WORK
WITHIN SUCH PERIOD OF TIME AS MAY BE REQUIRED UNDER APPLICABLE LAW.
ALL
REMEDIAL WORK SHALL BE PERFORMED BY LICENSED CONTRACTORS APPROVED IN ADVANCE BY
LENDER AND UNDER THE SUPERVISION OF A CONSULTING ENGINEER APPROVED BY LENDER, IN
EACH CASE, IN ITS REASONABLE DISCRETION.
ALL COSTS OF SUCH REMEDIAL WORK SHALL
BE PAID BY THE BORROWERS, INCLUDING LENDER'S REASONABLE ATTORNEYS' FEES AND
DISBURSEMENTS INCURRED IN CONNECTION WITH THE MONITORING OR REVIEW OF SUCH
REMEDIAL WORK; PROVIDED THAT THE BORROWERS SHALL HAVE ACCESS TO FUNDS IN THE
CASH TRAP RESERVE SUBACCOUNT IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF
SECTION 3.2.2(D) FOR THE PAYMENT OF SUCH COSTS.
IF THE BORROWERS DO NOT TIMELY
COMMENCE AND DILIGENTLY PROSECUTE TO COMPLETION THE REMEDIAL WORK, LENDER MAY