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23. Hazardous Substances. Mortgagor and Mortgagee hereby agree as ~
f ollo~ws: ~
(a) Mortgagor hereby represents that neither Mortgagor nor any other
person~has ever used the Mortgaged Property as a etorage facility for any '
"Hazardous Substances", other than gasoline or motor oil (to the extent same
may be Hazardaus Substances) used in the ordinary course of Mortgagor's -
business. - ~
(b) Mortgaqor hereby agrees to inde~mify Mortgagee and hold Nlortgagee
harmless from and agains~ any and all ?osses, liabilities, including strict -
liability, damages, injuries, expenses, including seasonable attorneys' fees,
costs of any settlement or judqment and claims of any and every kind
whatsoever paid incurred or suffered by, or assertec3 against, Mortgagee by any
person or entity or governmental agency far, with respect to, or as a direct
or indirect resul~ of, the presence`on or under, or the escap~, seepage,
leakage, spillage, discharge, eqnission, discharying or telease from the
premises of any Hazardous S~ibstance (including, witnout iimitation, any
losses; liabilities, including str~tct liability, c~amages, injuries, expenses,
including reasonable attorneys' fees, costs of any se~tlement or ~udc~nent or
claims assert~d or arfsfng under the Comprehea~sive Environmental Response,
Compensation and Liability Act, any so called f~deral, state or local
"Superfund" "SUperlien" laws, statutes, law, ordinance, ~ode, rule,
regulation, order or decree regulating, with respect to or in~osfng liability,
.including strict liability, substances or stanc7ards of c~onduct concerning any
Hazardous Substance), regardless of whether within the control of Mc~rtgagee,
so long as~the act or anission in question occurs prior to the sale of the
Premises under Article IV and corr~lete dispossession of Martc,~gor thereunder.
(c) For parposes of this Instrument, "Hazardous Substances" shall mean
and inclus9e those elements or compounds which are contained in the list of
hazardous substanc:es adopted by the Onitecl States Environmental Protection
Agency (EPA) and the list of toxic pollutants designated by Congress or the
EPA or defined by any other Federal, state or local statute, Iaw, ordinance,
code, rule, regulation, order or decree regulating, relating to, or in~osfng
liability or standards of conduct concerning, any hazardous, toxic or
dangerous waste, substance or material ~s now or at any time hereunder in
effect.
(d) If Mortgagor receives any notice of (i) the happening of any
material event involving the spill, release, leak, seepag~, discharge or
cleanup of any Hazardous Substance on the Land or in connection with
Mortgagor's operations thereon or (fi) any canplaint, order, citation or
material notioe with regara to air emissions, water discharges, or any other
environmental, health or safety matter affecting Mortgagor (an "Envir~tal ~
Co~laint") fram any person or entity (including without limitati~ the EPA)
then Mortgagor'sha~l ~ranediately notify Mortgagee orally and in writing of
said notice. ~
(e) Mortgagee shall have the tight but not the obligati~, and without
limitation of Mortgagee's rights un~er this Instrument, to er~ter anto the
~Mortgaged Property or to take such other actions as it deems necessary or
advisable to cleanup, remave, resolve or minimize the impact of, br othen~rise
deal with, any such Hazardous Substance or Envfronmental Complaint following
receipt of any notice.from any person or entfty~ (including wittxwt limitation
the EPA) asserting the existence of any Hazardaus Sub~tanoe or any
' Envirorunental Complaint pertaining to the Mortgaged Property or any gart
! thereof which, if true, could resul~ in an order, suit or other action against
~ lyortgagor ancl/or which, in the sole opinion of Mortgagee-, oauld ~eopardi2e its
security under this Ynstrtunent.
• Al1 reas~able oosts and expenses incvrred by Mortga~ee in the exercise of any
i such rights shall be secured by this Instrwnent and shall be payable by -
E l~lc~rtgagor upon demand.
F
~ (f) Mortgagee sha].1 have the right, in its sole discxetion, to r~quire '
~ i+lortgagor to periodi.cally (but not r~are fr~quently than annually unless art
~ Environmental Co~laint is then outstanding) perform (at Mortgagor's expense)
an environmental audit and, if deemed necessary by Mortgag~e, an environmental
~ risk assessment, each of which ~st be satisfactoacy to l~fortgagee, of the
p Mortgaged Property, hazardous waste management practices and/or hazardous
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~ aooK 570 ~~f 955
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