EXECUTE AND DELIVER TO LENDER SUCH
DOCUMENTS, INSTRUMENTS, CERTIFICATES, ASSIGNMENTS AND OTHER WRITINGS, AND DO
SUCH OTHER ACTS NECESSARY OR DESIRABLE, TO EVIDENCE, PRESERVE AND/OR PROTECT THE
COLLATERAL AT ANY TIME SECURING OR INTENDED TO SECURE THE DEBT AND/OR FOR THE
BETTER AND MORE EFFECTIVE CARRYING OUT OF THE INTENTS AND PURPOSES OF THE LOAN
DOCUMENTS, AS LENDER MAY REASONABLY REQUIRE FROM TIME TO TIME; AND (II) UPON
LENDER'S REQUEST THEREFOR GIVEN FROM TIME TO TIME AFTER THE OCCURRENCE OF ANY
DEFAULT OR EVENT OF DEFAULT PAY FOR (A) REPORTS OF UCC, FEDERAL TAX LIEN, STATE
TAX LIEN, JUDGMENT AND PENDING LITIGATION SEARCHES WITH RESPECT TO BORROWER AND
(B) SEARCHES OF TITLE TO THE PROPERTY, EACH SUCH SEARCH TO BE CONDUCTED BY
SEARCH FIRMS REASONABLY DESIGNATED BY LENDER IN EACH OF THE LOCATIONS REASONABLY
DESIGNATED BY LENDER.
5.8
ENVIRONMENTAL MATTERS.
5.8.1
HAZARDOUS SUBSTANCES.
SO LONG AS BORROWER OWNS OR IS
IN POSSESSION OF THE PROPERTY, BORROWER SHALL (I) KEEP THE PROPERTY FREE FROM
HAZARDOUS SUBSTANCES AND IN COMPLIANCE WITH ALL ENVIRONMENTAL LAWS,
(II) PROMPTLY NOTIFY LENDER IF BORROWER SHALL BECOME AWARE THAT (A) ANY
HAZARDOUS SUBSTANCE IS ON OR NEAR THE PROPERTY, (B) THE PROPERTY IS IN VIOLATION
OF ANY ENVIRONMENTAL LAWS OR (C) ANY CONDITION ON OR NEAR THE 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, AS REQUIRED BY LAW (OR AS
50
SHALL BE REQUIRED BY LENDER IN THE CASE OF REMOVAL WHICH IS NOT REQUIRED BY LAW,
BUT IN RESPONSE TO THE OPINION OF A LICENSED HYDROGEOLOGIST, LICENSED
ENVIRONMENTAL ENGINEER OR OTHER QUALIFIED ENVIRONMENTAL CONSULTING FIRM ENGAGED
BY LENDER ("LENDER'S CONSULTANT")), PROMPTLY AFTER BORROWER BECOMES AWARE OF
SAME, AT BORROWER'S SOLE EXPENSE.
NOTHING HEREIN SHALL PREVENT BORROWER FROM
RECOVERING SUCH EXPENSES FROM ANY OTHER PARTY THAT MAY BE LIABLE FOR SUCH
REMOVAL OR CURE.
5.8.2
ENVIRONMENTAL MONITORING.
(A)
BORROWER 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 THE PROPERTY, (II) ALL CLAIMS MADE OR THREATENED BY ANY
THIRD PARTY (INCLUDING ANY GOVERNMENTAL AUTHORITY) AGAINST BORROWER OR THE
PROPERTY OR ANY PARTY OCCUPYING THE PROPERTY RELATING TO ANY LOSS OR INJURY
RESULTING FROM ANY HAZARDOUS SUBSTANCE, AND (III) BORROWER'S DISCOVERY OF ANY
OCCURRENCE OR CONDITION ON ANY REAL PROPERTY ADJOINING OR IN THE VICINITY OF THE
PROPERTY THAT COULD CAUSE THE PROPERTY TO BE SUBJECT TO ANY INVESTIGATION OR
CLEANUP PURSUANT TO ANY ENVIRONMENTAL LAW.
UPON BECOMING AWARE OF THE PRESENCE
OF MOLD OR FUNGUS AT THE PROPERTY, BORROWER 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 REASONABLY NECESSARY FOR THE
REMEDIATION OF ANY TOXIC MOLD (INCLUDING