THE LOAN
DOCUMENTS WITH RESPECT TO SUCH LOAN OBLIGATE THE RELATED BORROWER TO MAINTAIN
SUCH INSURANCE AND, AT THE RELATED BORROWER'S FAILURE TO DO SO, AUTHORIZES THE
MORTGAGEE TO MAINTAIN SUCH INSURANCE AT THE RELATED BORROWER'S COST AND EXPENSE
AND TO SEEK REIMBURSEMENT THEREFOR FROM THE RELATED BORROWER.
EACH SUCH
INSURANCE POLICY (OTHER THAN A WORKERS' COMPENSATION INSURANCE POLICY) IS
REQUIRED, UNDER THE LOAN DOCUMENTS WITH RESPECT TO SUCH LOAN, TO NAME THE HOLDER
OF THE RELATED MORTGAGE AS AN ADDITIONAL INSURED OR CONTAIN A MORTGAGEE
ENDORSEMENT NAMING THE HOLDER OF THE MORTGAGE AS LOSS PAYEE AND REQUIRES PRIOR
NOTICE TO THE HOLDER OF THE RELATED MORTGAGE OF TERMINATION OR CANCELLATION, AND
NO SUCH NOTICE HAS BEEN RECEIVED, INCLUDING ANY NOTICE OF NONPAYMENT OF
PREMIUMS, THAT HAS NOT BEEN CURED.
THERE HAVE BEEN NO ACTS OR OMISSIONS THAT
WOULD IMPAIR THE COVERAGE OF ANY SUCH INSURANCE POLICY OR THE BENEFITS OF THE
MORTGAGE ENDORSEMENT.
ALL INSURANCE CONTEMPLATED IN THIS SECTION IS MAINTAINED
WITH INSURANCE COMPANIES WITH A GENERAL POLICY RATING OF "A" OR BETTER BY S&P OR
A:VI OR BETTER BY BEST'S INSURANCE GUIDE AND ARE LICENSED TO DO BUSINESS IN THE
STATE WHEREIN THE RELATED BORROWER OR THE RELATED MORTGAGED PROPERTY SUBJECT TO
THE POLICY, AS APPLICABLE, IS LOCATED.
(N)
THE RELATED MORTGAGED PROPERTY SECURING SUCH LOAN WAS SUBJECT TO
ONE OR MORE ENVIRONMENTAL SITE ASSESSMENTS OR REPORTS (OR AN UPDATE OF A
PREVIOUSLY CONDUCTED ASSESSMENT OR REPORT) NOT MORE THAN SIX MONTHS PRIOR TO THE
ORIGINATION OF SUCH LOAN, AND SELLER HAS NO KNOWLEDGE OF ANY MATERIAL AND
ADVERSE ENVIRONMENTAL CONDITIONS OR CIRCUMSTANCE AFFECTING SUCH RELATED
MORTGAGED PROPERTY THAT WAS NOT DISCLOSED IN THE RELATED ASSESSMENT OR
REPORT(S).
THERE ARE NO MATERIAL AND ADVERSE ENVIRONMENTAL CONDITIONS OR
CIRCUMSTANCES AFFECTING THE RELATED MORTGAGED PROPERTY SECURING SUCH LOAN OTHER
THAN, WITH RESPECT TO ANY ADVERSE ENVIRONMENTAL CONDITION DESCRIBED IN SUCH
REPORT, THOSE CONDITIONS FOR WHICH REMEDIATION HAS BEEN COMPLETED AND, IF (I) A
PROGRAM OF ANNUAL INTEGRITY TESTING AND/OR MONITORING WAS RECOMMENDED, IT WAS
IMPLEMENTED IN CONNECTION WITH THE RELATED MORTGAGED PROPERTY SECURING SUCH LOAN
OR AN ADJACENT OR NEIGHBORING PROPERTY; (II) AN OPERATIONS AND MAINTENANCE PLAN
OR PERIODIC MONITORING OF SUCH RELATED MORTGAGED PROPERTY OR NEARBY PROPERTIES
WAS RECOMMENDED, IT WAS IMPLEMENTED OR (III) A FOLLOW-UP PLAN WAS OTHERWISE
REQUIRED TO BE TAKEN UNDER CERCLA (AS DEFINED BELOW) OR UNDER REGULATIONS
ESTABLISHED THEREUNDER FROM TIME TO TIME BY THE ENVIRONMENTAL PROTECTION AGENCY,
SUCH PLAN HAS BEEN IMPLEMENTED AND, IN THE CASE OF (I), (II) AND (III) ABOVE,
THE SELLER DETERMINED IN ACCORDANCE WITH THE UNDERWRITING GUIDELINES THAT
ADEQUATE FUNDING WAS AVAILABLE FOR SUCH PROGRAM OR PLAN, AS APPLICABLE.
SELLER
HAS NOT TAKEN ANY ACTION WITH RESPECT TO SUCH LOAN OR THE RELATED MORTGAGED
PROPERTY SECURING SUCH LOAN THAT COULD SUBJECT THE AGENT, ANY BUYER, OR ITS
SUCCESSORS AND ASSIGNS IN RESPECT OF SUCH LOAN, TO ANY LIABILITY UNDER THE
COMPREHENSIVE ENVIRONMENTAL RESPONSE, COMPENSATION AND LIABILITY ACT OF 1980, AS
AMENDED ("CERCLA") OR ANY OTHER
4
APPLICABLE FEDERAL, STATE