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.
(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 with respect to such Mortgaged Property;
(y)
If any such inspection reveals an occurrence or condition that is
reasonably likely to lead to a material Environmental Claim with respect to such
Mortgaged Property; or
(z)
If an Event of Default with respect to such Mortgaged Property
exists at the time any such