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3 <br />611675v1EL185-30 <br />(f) There are not now, nor have there ever been, any above ground or underground <br />storage tanks located in or under the Property. All storage tanks identified on <br />Exhibit A have been registered and/or permitted as required by Environmental <br />Regulations, and evidence of such registration and/or permitting has been given to <br />Lender. There are no wells on or under the Property, except as identified on <br />Exhibit A. <br />3. Covenants and Agreements. Borrower covenants and agrees as follows: <br />(a) Except for substances normally used for maintenance or operation of the Property <br />which are used, stored and disposed of in accordance with all applicable <br />Environmental Regulations and except as identified on Exhibit A, Borrower shall <br />not, nor shall it permit others to, place, store, locate, generate, produce, create, <br />process, treat, handle, transport, incorporate, discharge, emit, spill, release, <br />deposit or dispose of any Hazardous Substance in, upon, under, over or from the <br />Property. Borrower shall cause all Hazardous Substances found on or under the <br />Property, which are not permitted under the foregoing sentence, to be properly <br />removed therefrom and properly disposed of at Borrower’s cost and expense. <br />Borrower shall not install or permit to be installed any underground storage tank <br />on or under the Property. Borrower shall give written notice to Lender prior to a <br />change in the operations on the Property. <br />(b) In the event that (i) Lender reasonably believes that a violation of an <br />Environmental Regulation may have occurred in connection with the Property; <br />(ii) Lender receives notice from Borrower or otherwise has knowledge that an <br />event described in subparagraph 3(d) has occurred; (iii) Lender reasonably <br />believes that a representation or warranty of Borrower in Paragraph 2 was untrue <br />in any material respect when made or has become untrue in any material respect; <br />(iv) Lender receives notice from Borrower or otherwise has knowledge of a <br />change in operations on the Property and Lender reasonably believes that the new <br />operations may entail the presence of more or different Hazardous Substances on <br />the Property; or (v) Lender reasonably believes that Hazardous Substances are <br />present on the Property which were not previously known by Lender to be present <br />on the Property; then, in any such event, Borrower shall at its cost obtain and <br />deliver to Lender an environmental review, audit, assessment and/or report <br />relating to the Property or shall have any previously delivered materials updated <br />and/or amplified, by an engineer or scientist selected by Borrower and acceptable <br />to Lender; if Borrower fails to do so within forty-five (45) days after such request <br />is made, Lender shall have the right to do so, in which event Borrower shall <br />reimburse Lender for the cost incurred by Lender in doing so within ten (10) days <br />following demand therefor by Lender. <br />(c) Borrower shall, promptly after obtaining actual knowledge thereof, give notice to <br />Lender of: (i) any activity in violation of any applicable Environmental <br />Regulations relating to the Property, (ii) any governmental or regulatory actions <br />instituted or threatened under any Environmental Regulations affecting the <br />Property, (iii) all claims made or threatened by any third party against Borrower