SITE ASSESSMENT OF THE PROPERTY DELIVERED TO LENDER (SUCH
REPORT IS REFERRED TO BELOW AS THE "ENVIRONMENTAL REPORT"), BORROWER HEREBY
REPRESENTS AND WARRANTS THAT (A) THERE ARE NO HAZARDOUS SUBSTANCES (DEFINED
BELOW) OR UNDERGROUND STORAGE TANKS IN, ON, OR UNDER THE PROPERTY, EXCEPT THOSE
THAT ARE BOTH (I) IN COMPLIANCE WITH ENVIRONMENTAL LAWS (DEFINED BELOW) AND WITH
PERMITS ISSUED PURSUANT THERETO AND (II) FULLY DISCLOSED TO LENDER IN WRITING
PURSUANT THE ENVIRONMENTAL REPORT; (B) THERE ARE NO PAST, PRESENT OR THREATENED
RELEASES (DEFINED BELOW) OF HAZARDOUS SUBSTANCES IN, ON, UNDER OR FROM THE
PROPERTY WHICH HAS NOT BEEN FULLY REMEDIATED IN ACCORDANCE WITH ENVIRONMENTAL
LAW; (C) THERE IS NO THREAT OF ANY RELEASE OF HAZARDOUS SUBSTANCES MIGRATING TO
THE PROPERTY; (D) THERE IS NO PAST OR PRESENT NON-COMPLIANCE WITH ENVIRONMENTAL
LAWS, OR WITH PERMITS ISSUED PURSUANT THERETO, IN CONNECTION WITH THE PROPERTY
WHICH HAS NOT BEEN FULLY REMEDIATED IN ACCORDANCE WITH ENVIRONMENTAL LAW;
(E) BORROWER DOES NOT KNOW OF, AND HAS NOT RECEIVED, ANY WRITTEN OR ORAL NOTICE
OR OTHER COMMUNICATION FROM ANY PERSON (INCLUDING BUT NOT LIMITED TO A
GOVERNMENTAL ENTITY) RELATING TO HAZARDOUS SUBSTANCES OR REMEDIATION (DEFINED
BELOW) THEREOF, OF POSSIBLE LIABILITY OF ANY PERSON PURSUANT TO ANY
ENVIRONMENTAL LAW, OTHER ENVIRONMENTAL CONDITIONS IN CONNECTION WITH THE
PROPERTY, OR ANY ACTUAL OR POTENTIAL ADMINISTRATIVE OR JUDICIAL PROCEEDINGS IN
CONNECTION WITH ANY OF THE FOREGOING; AND (F) BORROWER HAS TRUTHFULLY AND FULLY
PROVIDED TO LENDER, IN WRITING, ANY AND ALL INFORMATION RELATING TO CONDITIONS
IN, ON, UNDER OR FROM THE PROPERTY THAT IS KNOWN TO BORROWER AND THAT IS
CONTAINED IN BORROWER'S FILES AND RECORDS, INCLUDING BUT NOT LIMITED TO ANY
REPORTS RELATING TO HAZARDOUS SUBSTANCES IN, ON, UNDER OR FROM THE PROPERTY
AND/OR TO THE ENVIRONMENTAL CONDITION OF THE PROPERTY.
"Environmental Law" means any present and future federal, State and local laws,
statutes, ordinances, rules, regulations and the like, as well as common law,
relating to protection of human health or the environment, relating to Hazardous
Substances, relating to liability for or costs of Remediation or prevention of
Releases of Hazardous Substances or relating to liability for or costs of other
actual or threatened danger to human health or the environment.
Environmental
Law includes, but is not limited to, the following statutes, as amended, any
successor thereto, and any regulations promulgated pursuant thereto, and any
State or local statutes, ordinances, rules, regulations and the like addressing
similar issues:
the Comprehensive Environmental Response, Compensation and
Liability Act; the Emergency Planning and Community Right-to-Know Act; the
Hazardous Substances Transportation Act; the Resource Conservation and Recovery
Act (including but not limited to Subtitle I relating to underground storage
tanks); the Solid Waste Disposal Act; the Clean Water Act; the Clean Air
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Act; the Toxic Substances Control Act; the Safe Drinking Water Act; the
Occupational Safety and Health Act; the Federal Water Pollution Control Act; the
Federal Insecticide, Fungicide and Rodenticide Act; the Endangered Species Act;
the National Environmental Policy Act; and the River and Harbors Appropriation
Act.
Environmental Law