|
73495086v3
<br />
<br />
<br /> 24
<br />
<br />Laws, (ii) any notifications submitted to any Person pursuant to Environmental Laws, (iii) any
<br />Governmental Action granted pursuant to Environmental Laws, (iv) any record or manifest
<br />required to be maintained pursuant to Environmental Laws, and (v) any correspondence, notice of
<br />violation, summons, order, complaint or other document received by the Borrower, its lessees, sub-
<br />lessees or assigns, pertaining to compliance with any Environmental Laws.
<br />(b) The Borrower will, at all times during the term of this Agreement, cause Hazardous
<br />Substances used at the Project Facilities to be handled, used, stored and disposed in accordance
<br />with all Environmental Laws and in a manner which will not cause an undue risk of Contamination.
<br />(c) The Borrower will cause all construction of new structures at the Project Facilities
<br />during the term of this Agreement to use design features which safeguard against or mitigate the
<br />accumulation of radon or radon products in concentrations exceeding the Environmental Protection
<br />Agency’s recommended threshold of 4.0pCi/L.
<br />(d) The Borrower shall not install or permit to be installed any temporary or permanent
<br />tanks for storage of any liquid or gas above or below ground, except after obtaining written
<br />permission from the Controlling Person to do so and in compliance with Environmental Laws.
<br />(e) The Borrower shall implement a moisture management and control program (the
<br />“Moisture Management Program”) for the Improvements at the Project Facilities to prevent the
<br />occurrence of mold, dangerous fungi, bacterial or microbial matter contamination or pathogenic
<br />organisms that reproduces through the release of spores or the splitting of cells (collectively,
<br />“Mold”), at, on or under the Project Facilities, which Moisture Management Program shall include,
<br />at a minimum: (a) periodic inspections of the Improvements at the Project Facilities for Mold,
<br />(b) removing or cleaning up any Mold and in a manner consistent with best industry practices and
<br />utilizing an experienced remediation contractor acceptable to and approved by the Controlling
<br />Person, and (c) in the event that the Mold identified at the Improvements at the Project Facilities
<br />cannot be removed or cleaned from any impacted building materials (e.g., porous materials such as
<br />carpeting, certain types of ceiling materials, etc.) and/or equipment, removing all such impacted
<br />building materials and/or equipment from the Project Facilities, all in accordance with the
<br />procedures set forth in the United States Environmental Protection Agency’s (“EPA”) guide
<br />entitled “Mold Remediation in Schools and Commercial Buildings”, EPA No. 402-K-01-001, dated
<br />March 2001 and in a manner consistent with best industry practices and utilizing an experienced
<br />remediation contractor acceptable to and approved by the Controlling Person. The Borrower shall
<br />include as part of every residential lease a Mold/Mildew Addendum in the form attached hereto as
<br />Exhibit C. The Borrower further covenants and agrees that, in connection with any mold
<br />remediation undertaken by or on behalf of the Borrower hereunder, the source (e.g., leaking pipe,
<br />water damage, water infiltration, etc.) of any Mold at the Improvements at the Project Facilities
<br />shall be promptly identified and corrected to prevent the occurrence or re-occurrence of any Mold.
<br />(f) Upon the occurrence of an Event of Default which has continued beyond any
<br />applicable cure period, or if the Controlling Person has reason to believe that there has occurred
<br />and is continuing a violation of Environmental Law or that there exists a condition that could give
<br />rise to any Governmental Action, the Controlling Person may, at its discretion, commission an
<br />investigation at the Borrower’s expense of (i) compliance at the Project Facilities with
<br />Environmental Laws, (ii) the presence of Hazardous Substances or Contamination at the Project
<br />Facilities, (iii) the presence at the Project Facilities of materials which are described in clause (b)
<br />of Section 5.12, (iv) the presence at the Project Facilities of Environmentally Sensitive Areas,
<br />(v) the presence at the Project Facilities of radon products, (vi) the presence at the Project Facilities
<br />of tanks of the type described in paragraph (e) of Section 5.12 or in paragraph (d) of Section 6.14
|