BE IMPLEMENTED FOR ANY HAZARDOUS SUBSTANCE, WHETHER SUCH HAZARDOUS SUBSTANCE
EXISTED PRIOR TO THE OWNERSHIP OF THE PROPERTY BY MORTGAGE BORROWER, OR
PRESENTLY EXISTS OR IS REASONABLY SUSPECTED OF EXISTING, BORROWER SHALL, OR
SHALL CAUSE MORTGAGE BORROWER TO, CAUSE SUCH OPERATIONS AND MAINTENANCE PLAN TO
BE PREPARED AND IMPLEMENTED AT ITS EXPENSE UPON REQUEST OF LENDER, AND WITH
RESPECT TO ANY TOXIC MOLD, BORROWER SHALL, OR SHALL CAUSE MORTGAGE BORROWER TO,
TAKE ALL ACTION NECESSARY TO CLEAN AND DISINFECT ANY PORTIONS OF THE
IMPROVEMENTS AFFECTED BY TOXIC MOLD IN OR ABOUT THE IMPROVEMENTS, INCLUDING
PROVIDING ANY NECESSARY MOISTURE CONTROL SYSTEMS AT THE 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"), BORROWER SHALL, OR SHALL CAUSE MORTGAGE BORROWER TO,
COMMENCE ALL SUCH REMEDIAL WORK WITHIN 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.
ALL COSTS OF
SUCH REMEDIAL WORK SHALL BE PAID BY BORROWER OR MORTGAGE BORROWER, INCLUDING
LENDER'S REASONABLE ATTORNEYS' FEES AND DISBURSEMENTS INCURRED IN CONNECTION
WITH THE MONITORING OR REVIEW OF SUCH REMEDIAL WORK.
IF BORROWER DOES NOT, OR
FAILS TO CAUSE MORTGAGE BORROWER TO, TIMELY COMMENCE AND DILIGENTLY PROSECUTE TO
COMPLETION THE REMEDIAL WORK, LENDER MAY (BUT SHALL NOT BE OBLIGATED TO) CAUSE
SUCH REMEDIAL WORK TO BE PERFORMED AT BORROWER'S EXPENSE.
NOTWITHSTANDING THE
FOREGOING, BORROWER SHALL NOT BE REQUIRED TO COMMENCE SUCH REMEDIAL WORK WITHIN
THE ABOVE SPECIFIED TIME PERIOD: (X) IF PREVENTED FROM DOING SO BY ANY
GOVERNMENTAL AUTHORITY, (Y) IF COMMENCING SUCH REMEDIAL WORK WITHIN SUCH TIME
PERIOD WOULD RESULT IN BORROWER OR SUCH REMEDIAL WORK VIOLATING ANY
ENVIRONMENTAL LAW, OR (Z) IF BORROWER OR MORTGAGE BORROWER, AT ITS EXPENSE AND
AFTER PRIOR WRITTEN NOTICE TO LENDER, ARE CONTESTING BY APPROPRIATE LEGAL,
ADMINISTRATIVE OR OTHER PROCEEDINGS, CONDUCTED IN GOOD FAITH AND WITH DUE
DILIGENCE, THE NEED TO PERFORM REMEDIAL WORK.
BORROWER SHALL HAVE THE RIGHT TO
CONTEST THE NEED TO PERFORM SUCH REMEDIAL WORK, PROVIDED THAT, (1) BORROWER OR
MORTGAGE BORROWER ARE PERMITTED BY THE APPLICABLE ENVIRONMENTAL LAWS TO DELAY
PERFORMANCE OF THE REMEDIAL WORK PENDING SUCH PROCEEDINGS, (2) NEITHER THE
PROPERTY NOR ANY PART THEREOF OR INTEREST THEREIN WILL BE SOLD, FORFEITED OR
LOST IF BORROWER OR MORTGAGE BORROWER FAILS TO PROMPTLY PERFORM THE REMEDIAL
WORK BEING CONTESTED, AND IF BORROWER OR MORTGAGE BORROWER FAILS TO PREVAIL IN
CONTEST BORROWER OR MORTGAGE BORROWER WOULD THEREAFTER HAVE THE OPPORTUNITY TO
PERFORM SUCH REMEDIAL WORK, (3) LENDER WOULD NOT, BY VIRTUE OF SUCH PERMITTED
CONTEST, BE EXPOSED TO ANY RISK OF ANY CIVIL LIABILITY FOR WHICH BORROWER HAS
NOT FURNISHED ADDITIONAL SECURITY AS PROVIDED IN CLAUSE (4) BELOW, OR TO ANY
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RISK OF CRIMINAL LIABILITY, AND NEITHER THE PROPERTY NOR