WITH ALL APPLICABLE ENVIRONMENTAL LAWS), (II) PROMPTLY NOTIFY LENDER
IF ANY BORROWER SHALL BECOME AWARE THAT (A) ANY HAZARDOUS SUBSTANCE IS ON OR
NEAR SUCH PROPERTY IN VIOLATION OF ANY ENVIRONMENTAL LAW, (B) SUCH PROPERTY IS
IN VIOLATION OF ANY ENVIRONMENTAL LAWS OR (C) ANY CONDITION ON OR NEAR SUCH
PROPERTY SHALL POSE A THREAT TO THE HEALTH, SAFETY OR WELFARE OF HUMANS AND
(III) REMOVE SUCH HAZARDOUS SUBSTANCES AND/OR CURE SUCH VIOLATIONS AND/OR REMOVE
SUCH THREATS, AS APPLICABLE, IF AND TO THE EXTENT REQUIRED BY LAW, PROMPTLY
AFTER ANY BORROWER BECOMES AWARE OF SAME, AT THE BORROWERS' SOLE EXPENSE.
NOTHING HEREIN SHALL PREVENT ANY BORROWER FROM RECOVERING SUCH EXPENSES FROM ANY
OTHER PARTY THAT MAY BE LIABLE FOR SUCH REMOVAL OR CURE.
5.8.2
ENVIRONMENTAL MONITORING. (A)
THE BORROWERS SHALL
GIVE PROMPT WRITTEN NOTICE TO LENDER OF (I) ANY PROCEEDING OR INQUIRY BY ANY
PARTY (INCLUDING ANY GOVERNMENTAL AUTHORITY) WITH RESPECT TO THE PRESENCE OF ANY
HAZARDOUS SUBSTANCE ON, UNDER, FROM OR ABOUT ANY PROPERTY, (II) ALL CLAIMS MADE
OR THREATENED IN WRITING BY ANY THIRD PARTY (INCLUDING ANY GOVERNMENTAL
AUTHORITY) AGAINST ANY BORROWER OR ANY PROPERTY OR ANY PARTY OCCUPYING ANY
PROPERTY RELATING TO ANY LOSS OR INJURY RESULTING FROM ANY HAZARDOUS SUBSTANCE,
AND (III) ANY BORROWER'S DISCOVERY OF ANY OCCURRENCE OR CONDITION ON ANY REAL
PROPERTY ADJOINING OR IN THE VICINITY OF ANY PROPERTY THAT COULD REASONABLY BE
EXPECTED TO CAUSE SUCH PROPERTY TO BE SUBJECT TO ANY CLEANUP PURSUANT TO ANY
ENVIRONMENTAL LAW.
UPON BECOMING AWARE OF THE PRESENCE OF MOLD OR FUNGUS AT ANY
PROPERTY, THE BORROWERS SHALL (I) UNDERTAKE AN INVESTIGATION TO IDENTIFY THE
SOURCE(S) OF SUCH MOLD OR FUNGUS AND SHALL DEVELOP AND IMPLEMENT AN APPROPRIATE
REMEDIATION PLAN TO ELIMINATE THE PRESENCE OF ANY TOXIC MOLD, (II) PERFORM OR
CAUSE TO BE PERFORMED ALL ACTS REQUIRED BY ANY APPLICABLE ENVIRONMENTAL LAWS FOR
THE REMEDIATION OF ANY TOXIC MOLD (INCLUDING TAKING ANY ACTION NECESSARY TO
CLEAN AND DISINFECT ANY PORTIONS OF SUCH PROPERTY AFFECTED BY TOXIC MOLD,
INCLUDING PROVIDING ANY NECESSARY MOISTURE CONTROL SYSTEMS AT SUCH PROPERTY),
AND (III) PROVIDE EVIDENCE REASONABLY SATISFACTORY TO LENDER OF THE FOREGOING.
THE BORROWERS SHALL PERMIT LENDER TO JOIN AND PARTICIPATE IN, AS A PARTY IF IT
SO ELECTS, ANY LEGAL OR ADMINISTRATIVE PROCEEDINGS OR OTHER ACTIONS INITIATED
WITH RESPECT TO ANY PROPERTY IN CONNECTION WITH ANY ENVIRONMENTAL LAW OR
HAZARDOUS SUBSTANCE, AND THE BORROWERS SHALL PAY ALL REASONABLE ATTORNEYS' FEES
AND DISBURSEMENTS INCURRED BY LENDER IN CONNECTION THEREWITH.
(B)
UPON LENDER'S REQUEST, AT ANY TIME AND FROM TIME TO TIME, BUT NOT
MORE THAN ONE TIME IN ANY TWELVE (12) MONTH PERIOD (UNLESS AN EVENT OF DEFAULT
HAS OCCURRED AND IS CONTINUING), THE BORROWERS SHALL PROVIDE AN INSPECTION OR
AUDIT OF ANY PROPERTY PREPARED BY A LICENSED HYDROGEOLOGIST, LICENSED
ENVIRONMENTAL ENGINEER OR QUALIFIED ENVIRONMENTAL CONSULTING
41
FIRM APPROVED BY LENDER IN ITS REASONABLE DISCRETION ASSESSING THE PRESENCE OR
ABSENCE OF HAZARDOUS SUBSTANCES ON, IN OR NEAR SUCH PROPERTY, AND IF AN EVENT OF
DEFAULT HAS OCCURRED AND