|
insurance shall contain an endorsement requiring the insurer to provide at least thirty (30) days
<br />written notice to Beneficiary prior to change in coverage, cancellation or expiration thereof.
<br />7.11 Hazardous Materials. Trustor represents and warrants that except as disclosed to
<br />Beneficiary in writing, as of the date hereof to the best knowledge of Trustor: (i) the Land is
<br />free and has always been free of Hazardous Materials (as defined below) and is not and has
<br />never been in violation of any Environmental Law (as defined below); (ii) there are no buried or
<br />partially buried storage tanks located on the Land; (iii) Trustor has received no notice, warning,
<br />notice of violation, administrative complaint, judicial complaint, or other formal or informal
<br />notice alleging that conditions on the Land are or have ever been in violation of any
<br />Environmental Law or informing Trustor that the Land is subject to investigation or inquiry
<br />regarding Hazardous Materials on the Land or the potential violation of any Environmental Law;
<br />(iv) there is no monitoring program required by the Environmental Protection Agency or any
<br />other governmental agency concerning the Land; (v) no toxic or hazardous chemicals, waste, or
<br />substances of any kind have ever been spilled, disposed of, or stored on, under or at the Land,
<br />whether by accident, burying, drainage, or storage in containers, tanks, holding areas, or any
<br />other means; (vi) the Land has never been used as a dump or landfill; and (vii) Trustor has
<br />disclosed to Beneficiary all information, records, and studies in Trustor's possession or
<br />reasonably available to Trustor relating to the Land concerning Hazardous Materials.
<br />Trustor shall not cause or permit any Hazardous Material (as defined below) to be brought
<br />upon, kept, stored or used in, on, under, or about the Land by Trustor, its agents, employees,
<br />contractors or invitees except for incidental supplies ordinarily used in connection with the
<br />construction, rehabilitation, repair, and operation of residential developments and in compliance
<br />with all applicable laws, and shall not cause any release of Hazardous Materials into, onto, under
<br />or through the Land. If any Hazardous Material is discharged, released, dumped, or spilled in, on,
<br />under, or about the Land and results in any contamination of the Land or adjacent property, or
<br />otherwise results in the release or discharge of Hazardous Materials in, on, under or from the
<br />Land, Trustor shall promptly take all actions at its sole expense as are necessary to comply with
<br />all Environmental Laws (as defined below).
<br />To the greatest extent permitted by law, Trustor shall indemnify, defend (with counsel
<br />reasonably acceptable to Beneficiary), and hold Beneficiary and its elected and appointed
<br />officials, officers, agents and employees (collectively, "Indemnitees") harmless from and against
<br />any and all loss, claim, liability, damage, demand, judgment, order, penalty, fine, injunctive or
<br />other relief, cost, expense (including reasonable fees and expenses of attorneys, expert witnesses,
<br />and other professionals advising or assisting Beneficiary), action, or cause of action (all of the
<br />foregoing, hereafter individually "Claim" and collectively "Claims") arising in connection with
<br />the breach of Trustor's covenants and obligations set forth in this Section 7.11 or otherwise
<br />arising in connection with the presence or release of Hazardous Materials in, on, under, or from
<br />the Property, except to the extent arising from the gross negligence or willful misconduct of the
<br />Indemnitees. The foregoing indemnity includes, without limitation, all costs of investigation,
<br />assessment, containment, removal, remediation of any kind, and disposal of Hazardous Materials,
<br />all costs of determining whether the Land is in compliance with Environmental Laws, all costs
<br />associated with bringing the Land into compliance with all applicable Environmental Laws, and
<br />all costs associated with claims for damages or injury to persons, property, or natural resources.
<br />Page 9 of 25
<br />REV: 05-29-19 VR
<br />ATTY/AGR.2019.151/Redwood Oaks Associates 11 LP - A&R Deed of Trust
<br />
|