IN ALL RESPECTS WITH
THE TERMS AND CONDITIONS OF THE O & M PROGRAM.
(E)
ENVIRONMENTAL MATTERS: INSPECTION.
(I)
BORROWER SHALL NOT KNOWINGLY PERMIT ANY
HAZARDOUS SUBSTANCES TO BE PRESENT ON OR UNDER OR TO EMANATE FROM THE MORTGAGED
PROPERTY, OR MIGRATE FROM ADJOINING PROPERTY ONTO OR INTO THE MORTGAGED
PROPERTY, EXCEPT UNDER CONDITIONS PERMITTED BY APPLICABLE ENVIRONMENTAL LAWS
AND, IN THE EVENT THAT SUCH HAZARDOUS SUBSTANCES ARE PRESENT ON, UNDER OR
EMANATE FROM THE MORTGAGED PROPERTY, OR MIGRATE ONTO OR INTO THE MORTGAGED
PROPERTY, BORROWER SHALL CAUSE THE REMOVAL OR REMEDIATION OF SUCH HAZARDOUS
SUBSTANCES, IN ACCORDANCE WITH THIS AGREEMENT AND AS REQUIRED BY ENVIRONMENTAL
LAWS (INCLUDING, WHERE APPLICABLE, THE NATIONAL CONTINGENCY PLAN PROMULGATED
PURSUANT TO THE CERCLA), EITHER ON ITS OWN BEHALF OR BY CAUSING A TENANT OR
OTHER PARTY LEGALLY RESPONSIBLE THEREFOR TO PERFORM SUCH REMOVAL AND
REMEDIATION.
BORROWER SHALL USE COMMERCIALLY REASONABLE EFFORTS TO PREVENT, AND
TO SEEK THE REMEDIATION OF, ANY MIGRATION OF HAZARDOUS SUBSTANCES ONTO OR INTO
THE MORTGAGED PROPERTY FROM ANY ADJOINING PROPERTY.
(II)
UPON REASONABLE PRIOR WRITTEN NOTICE,
LENDER SHALL HAVE THE RIGHT, EXCEPT AS OTHERWISE PROVIDED UNDER LEASES, AT ALL
REASONABLE TIMES DURING NORMAL BUSINESS HOURS TO ENTER UPON AND INSPECT
ENVIRONMENTAL CONDITIONS WITH RESPECT TO ALL OR ANY PORTION OF ANY MORTGAGED
PROPERTY, PROVIDED THAT SUCH INSPECTIONS SHALL NOT UNREASONABLY INTERFERE WITH
THE OPERATION OR THE TENANTS, RESIDENTS OR OCCUPANTS OF ANY MORTGAGED PROPERTY.
IF LENDER HAS REASONABLE GROUNDS TO SUSPECT THAT REMEDIAL WORK MAY BE REQUIRED,
LENDER SHALL NOTIFY BORROWER AND, THEREAFTER, MAY SELECT A CONSULTING ENGINEER
TO CONDUCT AND PREPARE REPORTS OF SUCH INSPECTIONS (WITH NOTICE TO BORROWER
PRIOR TO THE COMMENCEMENT OF SUCH INSPECTION).
BORROWER SHALL BE GIVEN A
REASONABLE OPPORTUNITY TO REVIEW ANY REPORTS, DATA AND OTHER DOCUMENTS OR
MATERIALS REVIEWED OR PREPARED BY THE ENGINEER, AND TO SUBMIT COMMENTS AND
SUGGESTED REVISIONS OR REBUTTALS TO SAME.
THE INSPECTION RIGHTS GRANTED TO
LENDER IN THIS SECTION 5.1(E) SHALL BE IN ADDITION TO, AND NOT IN LIMITATION OF,
ANY OTHER INSPECTION RIGHTS GRANTED TO LENDER IN THIS AGREEMENT, AND SHALL
EXPRESSLY INCLUDE THE RIGHT (IF LENDER REASONABLY SUSPECTS THAT REMEDIAL WORK
MAY BE REQUIRED) TO CONDUCT SOIL BORINGS, ESTABLISH GROUND WATER MONITORING
WELLS AND CONDUCT OTHER CUSTOMARY ENVIRONMENTAL TESTS, ASSESSMENTS AND AUDITS.
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(III)
BORROWER AGREES TO BEAR AND SHALL PAY OR
REIMBURSE LENDER ON DEMAND FOR ALL SUMS ADVANCED AND REASONABLE EXPENSES
INCURRED (INCLUDING REASONABLE ATTORNEYS' FEES AND DISBURSEMENTS, BUT EXCLUDING
INTERNAL OVERHEAD, ADMINISTRATIVE AND SIMILAR COSTS OF LENDER) REASONABLY
RELATING TO, OR INCURRED BY LENDER IN CONNECTION WITH, THE INSPECTIONS AND
REPORTS DESCRIBED IN THIS SECTION 5.1(E) (TO THE EXTENT SUCH INSPECTIONS AND
REPORTS RELATE TO ANY MORTGAGED PROPERTY) IN THE FOLLOWING SITUATIONS:
(x)
If Lender has reasonable grounds to
believe, at the time any such inspection is ordered, that there exists an
occurrence or condition that could lead to a material Environmental Claim;
(y)
If any such inspection reveals an occurrence
or condition that is reasonably likely to lead to a material Environmental