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DRAFT <br /> 4.15.2004 <br /> • solvents, oils, cleaning materials, and other substances as are used in the ordinary course of <br /> Borrower's business. Borrower shall not do, and will use its best efforts not to allow anyone else <br /> to do, anything affecting the Property that is in violation of any environmental law. <br /> Borrower shall promptly give Lender written notice of any investigation, claim, demand, <br /> lawsuit or other action by any governmental or regulatory agency or private party involving the <br /> Property and any hazardous substance or environmental law of which Borrower has actual <br /> knowledge. If Borrower learns, or is notified by any governmental or regulatory authority, that <br /> any removal or other remediation of any hazardous substance affecting the Property is necessary, <br /> Borrower shall promptly take all necessary remedial actions in accordance with that <br /> environmental law. <br /> As used in this paragraph 14, "hazardous substances" are those substances defined as <br /> toxic or hazardous substances by environmental law and the following substances: gasoline, <br /> kerosene, other flammable or toxic petroleum products, volatile solvents, materials containing <br /> asbestos or formaldehyde, and radioactive materials. As used in this paragraph 14, <br /> "environmental law"means federal or state laws that relate to environmental protection. <br /> 15. ACCELERATION; REMEDIES. Lender shall give notice to Borrower prior to <br /> acceleration following Borrower's breach of any covenant or agreement in this Mortgage. The <br /> 40 notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less <br /> than 30 days from the date the notice is given to Borrower by which the default must be cured, <br /> provided, however, if Borrower is diligently pursuing a cure, Borrower shall have such <br /> additional time as is reasonably necessary to complete the cure; and (d) that failure to cure the <br /> default on or before the date specified in the notice may result in acceleration of the sums <br /> secured by this Mortgage and sale of the Property. The notice shall further inform Borrower of <br /> the right to reinstate after acceleration and sale. If the default is not cured on or before the date <br /> specified in the notice, Lender at its option may require immediate payment in full of any sums <br /> secured by this Mortgage without further demand and may invoke the power of sale and any <br /> other remedies permitted by law. Lender shall be entitled to collect all expenses incurred in <br /> pursuing the remedies provided in this paragraph 15, including, but not limited to, reasonable <br /> attorneys fees. <br /> If Lender invokes the power of sale, Lender shall cause a copy of a notice of sale to be <br /> served upon any person in possession of the Property. Lender shall publish a notice of sale, and <br /> the Property shall be sold at public auction in the mariner prescribed by law. Lender or its <br /> designee may purchase the Property at any sale. The proceeds of the sale shall be applied in the <br /> following order: (a) to all expenses of the sale, including, but not limited to, reasonable attorneys <br /> fees; (b) to all sums secured by this Mortgage; and(c) any excess to the person or persons legally <br /> entitled to it. <br /> 16. RELEASE OF MORTGAGE. Upon payment of all sums secured by this <br /> • SJR-245249v4 <br /> NRJ205-29 <br /> 1-5 <br />