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3.5. EDSR HANDOUT 10-17-2016
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3.5. EDSR HANDOUT 10-17-2016
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^8573. <br />any time or in connection with the removal or <br />containment of such Hazardous Substances. Mortgagor's <br />liability hereunder shall not be limited to the extent <br />of insurance carried by or provided by Mortgagor or <br />subject to any exclusions from any coverage in any <br />insurance policy. <br />(].) Mortgagee or its agents shall have the right from time <br />to time to enter on and investigate the Mortgaged <br />Premises, including, without limitation, subsurface <br />testing, and, at Mortgagee's sole option, to obtain, at <br />Mortgagor's expense, a report from a reputable <br />environmental consultant of Mortgagee's choice as to <br />Mortgagor's compliance with local, state and federal <br />laws governing environmental protection. <br />Notwithstanding the foregoing, Mortgagee shall not <br />require Mortgagor to pay for such consultant's reports <br />more than once in any twelve-month period commencing on <br />the date hereof, provided that if any such report shows <br />that there has been a release or is a threat of imminent <br />release of Hazardous Substances onto or from the <br />Mortgaged Premises., Mortgagee may, in its sole <br />discretion, make such investigations on the Mortgaged <br />Premises and procure such additional reports as <br />Mortgagee deems necessary, and require Mortgagor to make <br />any necessary corrections to ensure compliance with all <br />applicable laws, all at Mortgagor's sole cost. <br />(m) Mortgagor shall promptly notify Mortgagea in writing of <br />any order or pending or threatened action by any <br />regulatory agency or other governmental body, or any <br />claims made by any third party, relating to Hazardous <br />Substances on, or emanations from, the Mortgaged <br />Premises, and shall promptly furnish the Mortgagee with <br />copies of.any correspondence or legal pleadings in <br />connection therewith. In addition, Mortgagee shall have <br />the right., but shall not be obligated, to notify any <br />state, federal or -local governmental authority of <br />information which may come to'its attention with respect <br />to Hazardous Substances on or emanating from the <br />Mortgaged Premises and Mortgagor irrevocably releases <br />Mortgagee from any claims.of loss, damage, liability, <br />expense or injury relating to or arising from, directly <br />or indirectly, any such disclosure. . <br />(n) If at any time it is determined that Hazardous <br />Substances present a health hazard or are required to be <br />removed or contained or other.corrective action is <br />required by any applicable governmental or regulatory <br />requirements, Mortgagee may, at its sole option, require <br />the removal or containment of the Hazardous Substances <br />from the Mortgaged Premises, or require other corrective <br />action, all at Mortgagor's expense. <br />5. <br />
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