|
7.11 Hazardous Materials. Trustor represents and warrants that except as
<br /> disclosed to Beneficiary in writing, as of the date hereof to the best knowledge of
<br /> Trustor: (i) the Land is free and has always been free of Hazardous Materials (as
<br /> defined below) and is not and has never been in violation of any Environmental Law (as
<br /> defined below); (ii) there are no buried or partially buried storage tanks located on the
<br /> Land; (iii) Trustor has received no notice, warning, notice of violation, administrative
<br /> complaint, judicial complaint, or other formal or informal notice alleging that conditions
<br /> on the Land are or have ever been in violation of any Environmental Law or informing
<br /> Trustor that the Land is subject to investigation or inquiry regarding Hazardous
<br /> Materials on the Land or the potential violation of any Environmental Law; (iv) there is
<br /> no monitoring program required by the Environmental Protection Agency or any other
<br /> governmental agency concerning the Land; (v) no toxic or hazardous chemicals, waste,
<br /> or substances of any kind have ever been spilled, disposed of, or stored on, under or at
<br /> the Land, whether by accident, burying, drainage, or storage in containers, tanks,
<br /> holding areas, or any other means; (vi) the Land has never been used as a dump or
<br /> landfill; and (vii) Trustor has disclosed to Beneficiary all information, records, and
<br /> studies in Trustor's possession or reasonably available to Trustor relating to the Land
<br /> concerning Hazardous Materials.
<br /> Trustor shall not cause or permit any Hazardous Material (as defined below) to
<br /> be brought upon, kept, stored or used in, on, under, or about the Land by Trustor, its
<br /> agents, employees, contractors or invitees except for incidental supplies ordinarily used
<br /> in connection with the construction, rehabilitation, repair, and operation of multi-family
<br /> residential developments and in compliance with all applicable laws, and shall not cause
<br /> any release of Hazardous Materials into, onto, under or through the Land. If any
<br /> Hazardous Material is discharged, released, dumped, or spilled in, on, under, or about
<br /> the Land and results in any contamination of the Land or adjacent property, or otherwise
<br /> results in the release or discharge of Hazardous Materials in, on, under or from the
<br /> Land, Trustor shall promptly take all actions at its sole expense as are necessary to
<br /> comply with all Environmental Laws (as defined below).
<br /> To the greatest extent permitted by law, Trustor shall indemnify, defend (with
<br /> counsel reasonably acceptable to Beneficiary), and hold Beneficiary and its elected and
<br /> appointed officials, officers, agents and employees (collectively, "Indemnitees")
<br /> harmless from and against any and all loss, claim, liability, damage, demand, judgment,
<br /> order, penalty, fine, injunctive or other relief, cost, expense (including reasonable fees
<br /> and expenses of attorneys, expert witnesses, and other professionals advising or
<br /> assisting Beneficiary), action, or cause of action (all of the foregoing, hereafter
<br /> individually "Claim" and collectively "Claims") arising in connection with the breach of
<br /> Trustor's covenants and obligations set forth in this Section 7.11 or otherwise arising in
<br /> connection with the presence or release of Hazardous Materials in, on, under, or from
<br /> the Property, provided that no Indemnitee shall be entitled to indemnification under this
<br /> Section for matters caused by such Indemnitee's gross negligence or willful misconduct.
<br /> The foregoing indemnity includes, without limitation, all costs of investigation,
<br /> assessment, containment, removal, remediation of any kind, and disposal of Hazardous
<br /> Materials, all costs of determining whether the Land is in compliance with Environmental
<br /> Laws, all costs associated with bringing the Land into compliance with all applicable
<br /> 10
<br /> OAK #9825-3939-8270 vl
<br />
|