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(i) The Property is now free from contamination by Hazardous Materials, and the
<br />Property and the activities conducted thereon as of the date hereof and on closing do not pose any
<br />significant hazard to human health or the environment or violate any Environmental Laws, as defined in
<br />Paragraph 8. There is no evidence of Release of Hazardous Materials at the Property.
<br />(ii) There has been no generation, treatment or storage of any Hazardous Materials
<br />at the Property nor any activity at the Property that could have produced Hazardous Materials.
<br />(iii) There are no surface impoundments, lagoons, waste piles, landfills, injection
<br />wells, underground storage areas, tanks, storage vessels, drums, containers or other man-made facilities
<br />at the Property which may have accommodated Hazardous Materials at the Property. Neither Seller, nor
<br />any third person, has stored, placed, buried or Released Hazardous Materials at the Property, including
<br />the soil, surface water and ground water.
<br />(iv) There has been no treatment, storage or Release of any Hazardous Materials on
<br />land adjacent or near to the Property which may constitute a risk of contamination of the Property or
<br />surface water or ground water flowing to the Property.
<br />(v) No inspection, audit, inquiry or other investigation has been or is being
<br />conducted by any Governmental Authority (as hereinafter defined in Paragraph 8) or other third person
<br />with respect to the presence or discharge of Hazardous Materials at the Property or the quality of the air,
<br />or surface or subsurface conditions at the Properly except for the Phase I environmental audits, if any,
<br />that were performed on behalf of Seller or any lender of Seller, copies of which will be delivered to
<br />Buyer pursuant to this Agreement. Seller has not received notice that any such inspection, audit, inquiry
<br />or investigation is pending or proposed. Neither Seller, nor to Seller's knowledge, any previous owner of
<br />the Property has received any warning, notice, notice of violation, administrative complaint, judicial
<br />complaint or other formal or informal notice or request for information alleging that Hazardous Materials
<br />have been stored or Released at the Property or that conditions at the Property are in violation of any
<br />Environmental Laws or requesting information regarding the use, storage, release or potential Release of
<br />Hazardous Materials at the Property.
<br />C. Definitions. For purposes of this Agreement:
<br />"Environmental Laws" means any federal, state or local statute, regulation or ordinance or any
<br />judicial or administrative decree or decision, whether now existing or hereinafter enacted, promulgated
<br />or issued, with respect to any Hazardous Materials, drinking water, groundwater, wetlands, landfills,
<br />open dumps, storage tanks, underground storage tanks, solid waste, waste water, storm water runoff,
<br />waste emissions or wells. Without limiting the generality of the foregoing, the term shall encompass
<br />each of the following statutes, and regulations, orders, decrees, permits, licenses and deed restrictions
<br />now or hereafter promulgated thereunder, and amendments and successors to such statutes and
<br />regulations as maybe enacted and promulgated from time to time: (i) the Comprehensive Environmental
<br />Response, Compensation and Liability Act (codified in scattered sections of 26 U.S.C., 33 U.S.C., 42
<br />U.S.C. and 42 U.S.C. Section 9601 et seq.) ("CERCLA"); (ii) the Resource Conservation and Recovery
<br />Act (42 U.S.C. Section 6901 et seq.) ("RCRA"); (iii) the Hazardous Materials Transportation Act (49
<br />U.S.C. Section 1801 et seq.); (iv) the Toxic Substances Control Act (15 U.S.C. Section 2061 et seq.); (v)
<br />the Clean Water Act (33 U.S.C. Section 1251 et seq.); (vi) the Clean Air Act (42 U.S.C. Section 7401 et
<br />seq.); (vii) the Safe Drinking Water Act (21 U.S.C. Section 349, 42 U.S.C. Section 201 and Section 300f
<br />et seq.); (viii) the National Environmental Policy Act (42 U.S.C. Section 4321 et seq.); (ix) the Superfund
<br />Amendments and Reauthorization Act of 1986(codified in scattered sections of 10 U.S.C., 29 U.S.C., 33
<br />U.S.C. and 42 U.S.C.); (x) Title III of the Superfund Amendment and Reauthorization Act (40 U.S.C.
<br />WCSR 3614883v5 /1 ~f 2
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