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(d) Any investigation or any remedial or corrective action taken with respect to the
<br /> Property shall be done under the supervision of a qualified consultant, engineer or
<br /> scientist acceptable to Lender who shall, at Borrower's cost and at the completion
<br /> of such investigation or action, provide a written report of such investigation or
<br /> action to Lender. Borrower shall also provide Lender with a copy of any interim
<br /> reports prepared in connection with any such investigation or action.
<br /> (e) If the Property has, or is suspected to have, asbestos or asbestos containing
<br /> materials ("ACM") which, due to its condition or location or due to any planned
<br /> building renovation or demolition, is recommended to be abated by repair,
<br /> encapsulation, removal or other action, Borrower shall promptly carry out the
<br /> recommended abatement action. If the recommended abatement includes removal
<br /> of ACM, Borrower shall cause the same to be removed and disposed of offsite by
<br /> a licensed and experienced asbestos removal contractor, all in accordance with
<br /> Environmental Regulations. Upon completion of the recommended abatement
<br /> action, Borrower shall deliver to Lender a certificate, signed by an officer of
<br /> Borrower and the consultant overseeing the abatement action, certifying to Lender
<br /> that the work has been completed in compliance with all applicable laws,
<br /> ordinances, codes and regulations (including without limitation those regarding
<br /> notification, removal and disposal) and that no airborne fibers beyond permissible
<br /> exposure limits remain on site.
<br /> (f) After an Event of Default (as defined in the Loan Agreement between the
<br /> Borrower and the Lender dated an even date herewith), Lender shall have the
<br /> right, after ten(10) days' prior written notice to Borrower, to have an
<br /> environmental review, audit, assessment, testing program and/or report with
<br /> respect to the Property performed or prepared by an environmental engineering
<br /> firm selected by Lender. Borrower shall provide reasonable access to the
<br /> Property to such environmental engineering firm during normal business hours to
<br /> conduct such review. Borrower shall reimburse Lender for the cost incurred for
<br /> each such action within ten(10) days following demand therefor by Lender.
<br /> 4. Indemnity. The Borrower shall indemnify Lender, any participant of Lender, its
<br /> and their directors, officers, employees, agents, contractors, licensees, invitees, and the
<br /> respective heirs, legal representatives, successors and assigns of all such persons and parties
<br /> (hereinafter collectively referred to as "Indemnified Parties") against, shall hold the Indemnified
<br /> Parties harmless from, and shall reimburse the Indemnified Parties for, any and all loss, damage,
<br /> liability, cost and expense directly or indirectly incurred by the Indemnified Parties, including
<br /> reasonable attorneys' and consultants' fees, resulting from: (a)the presence or discovery of any
<br /> Hazardous Substance in, upon, under or over, or emanating from, the Property, whether or not
<br /> the Borrower is responsible therefor, and whether or not it was placed, located, deposited or
<br /> released by the Borrower, or (b) any violation of any Environmental Regulation, or both (a) and
<br /> (b). Borrower agrees that the Indemnified Parties shall have no responsibility for, and Borrower
<br /> hereby releases the Indemnified Parties from responsibility for, damage or injury to human
<br /> health, property, the environment or natural resources caused by Hazardous Substances and for
<br /> abatement, clean-up, detoxification, removal or disposal of, or otherwise with respect to,
<br /> Hazardous Substances. The indemnity contained in this paragraph 4 shall be deemed continuing
<br /> 4
<br /> 477383v1 MJM EL185-40
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