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Hazardous Materials Law relating in any way whatsoever to the handling, treatment, presence,
<br />removal, storage, decontamination, cleanup, transportation or disposal of Hazardous Materials
<br />into, on, under or from the Development on or after the date of conveyance of the Property to the
<br />Developer; (2) the presence in, on or under the Development of any Hazardous Materials or any
<br />releases or discharges of any Hazardous Materials into, on, under or from the Development to
<br />the extent it arises on or after the date of conveyance of the Property to the Developer; or (3) any
<br />activity carried on or undertaken on or off the Development, subsequent to the conveyance of the
<br />Property to the Developer, and whether by the Developer or any successor in title or any
<br />employees, agents, contractors or subcontractors of the Developer or any successor in title, or
<br />any third persons at any time occupying or present on the Development, in connection with the
<br />handling, treatment, removal, storage, decontamination, cleanup, transport or disposal of any
<br />Hazardous Materials at any time located or present on or under the Development. The foregoing
<br />indemnity shall further apply to any residual contamination on or under the Development, or
<br />affecting any natural resources, and to any contamination of any property or natural resources
<br />arising in connection with the generation, use, handling, treatment, storage, transport or disposal
<br />of any such Hazardous Materials, and irrespective of whether any of such activities were or will
<br />be undertaken in accordance with Hazardous Materials Laws. The provisions of this subsection
<br />shall survive expiration of the Term or other termination of this Agreement, and shall remain in
<br />full force and effect. The forgoing indemnity shall not apply to any claims, Iosses, damages,
<br />liabilities, fines, penalties, or charges that are caused by the sole negligence or willful
<br />misconduct of the Indemnified Parties. The indemnification provisions of this Agreement shall
<br />survive such termination and remain in full force and effect.
<br />(c) No Limitation. The Developer hereby acknowledges and agrees that the
<br />Developer's duties, obligations and liabilities under this Agreement, including, without
<br />limitation, under subsection (b) above, are in no way limited or otherwise affected by any
<br />information the City may have concerning the Development and/or the presence within the
<br />Development of any Hazardous Materials, whether the City obtained such information from the
<br />Developer or from its own investigations.
<br />Section 5.7 Management Agent; Periodic Reports.
<br />(a) Management Agent. The Development shall at all times be managed by
<br />an experienced Management Agent reasonably acceptable to the City, with demonstrated ability
<br />to operate residential facilities like the Development in a manner that will provide decent, safe,
<br />and sanitary housing. The City hereby preapproves FPI Management as the initial management
<br />agent for the Development. For any change in the Management Agent, the Developer shall
<br />submit for the City's reasonable approval the identity of any proposed Management Agent. The
<br />Developer shall also submit such additional information about the background, experience and
<br />financial condition of any proposed Management Agent as is reasonably necessary for the City to
<br />determine whether the proposed Management Agent meets the standard for a qualified
<br />Management Agent set forth above. If the proposed Management Agent meets the standard for a
<br />qualified Management Agent set forth above, the City shall approve the proposed Management
<br />Agent by notifying the Developer in writing.
<br />(b) Performance Review. The City reserves the right to conduct a periodic
<br />review of the management practices and financial status of the Development within thirty (30)
<br />days after each anniversary of the issuance of the Certificate of Occupancy. The purpose of each
<br />REV: 06-17-2020 PR
<br />1199\09\2727850.8
<br />ATTY/AGR.2020.100/353 Main Street Apartments LP (Page 41 of 143)
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