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<br />c. All escrow fees and recording charges related to the transactions which are the <br /> <br />subject of this Agreement, shall be paid by Agency. Agency shall pay all costs of title insurance for <br /> <br />the Bradford Street Property. <br /> <br />4. Hazardous Materials. <br /> <br />a. Agency shall conduct such Hazardous Materials investigations as are required on <br /> <br />the Bradford Street Property, including at a minimum a Phase I and Phase II investigation. Agency <br /> <br />shall pay the cost of any Hazardous Materials investigation, monitoring, and remediation required <br /> <br />on either or both properties, including the cost of any asbestos abatement required on either or both <br /> <br />properties, as a result of an order or other determination issued by any governmental agency having <br /> <br />jurisdiction with respect to such Hazardous Materials in connection with Hazardous Materials <br /> <br />present and in existence at the properties as of the date of the close of escrow. Agency's obligation <br /> <br />to pay the cost of investigation, monitoring, and cleanup shall survive the close of escrow, and <br /> <br />transfer of the Bradford Street Property. City will cooperate with Agency in the event that <br /> <br />investigation, monitoring and/or cleanup of Hazardous Materials on the Bradford Street Property is <br /> <br />required so that any such Hazardous Materials activities may be conducted in the most reasonable <br /> <br />and cost effective manner, but in no event will the City be obligated to expend City funds on the <br /> <br />investigation, monitoring and/or cleanup of Hazardous Materials on the Bradford Street Property. <br /> <br />The provisions of this section shall not preclude City and/or Agency from pursuing such legal <br /> <br />remedies as it may have now or in the future against any third parties for any costs of investigation, <br /> <br />monitoring and/or cleanup of Hazardous Materials or other costs on the Bradford Street Property. <br /> <br />b. <br /> <br />For purposes of this Agreement, "Hazardous Material" means material that, <br /> <br />because of its quantity, concentration or physical or chemical characteristics, is at any time now or <br />Agmt-193 <br />flsh/shlRC/Council <br />FXS:rg <br />08/25/98 <br /> <br />4 <br />