Common use of Borrower’s Remedial Work Clause in Contracts

Borrower’s Remedial Work. Borrower will promptly perform any and all necessary remedial work ("REMEDIAL WORK") in response to any Hazardous Materials Claims or the presence, storage, use, disposal, transportation, discharge or release of any Hazardous Materials on, under or about any Golf Course Parcel; PROVIDED, HOWEVER, that Borrower will perform such Remedial Work in good faith so as to minimize any impairment to Lender's security under the Loan Documents. All Remedial Work will be conducted (a) in a diligent and timely fashion by licensed contractors acting under the supervision of a consulting environmental engineer; (b) pursuant to a detailed written plan for the Remedial Work approved by any public or private agencies or persons with a legal or contractual right to such approval; (c) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities; and (d) only following receipt of any required permits, licenses or approvals. The selection of the Remedial Work contractors and consulting environmental engineer, the contracts entered into with such parties, any disclosures to or agreements with any public or private agencies or parties relating to Remedial Work and the written plan for the Remedial Work (and any changes thereto) each will, at Lender's option, be subject to such Lender's prior written approval, which approval will not be unreasonably withheld or delayed. In addition, Borrower will submit to Lender, promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Borrower in connection with any Remedial Work or Hazardous Materials relating to any Golf Course Parcel. All costs and expenses of such Remedial Work will be paid by Borrower, including, without limitation, the charges of the Remedial Work contractors and the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and Lender's reasonable fees and costs incurred in connection with monitoring or reviewing such Remedial Work. Lender will have the right, but not the obligation, to join and participate in, as a party if it so elects, any legal proceedings or actions initiated in connection with any Hazardous Materials Claims.

Borrower’s Remedial Work. Borrower will promptly perform shall undertake any and all necessary remedial work ("REMEDIAL WORKRemedial Work") (i) required by any governmental authority(ties) in response to connection with any Hazardous Materials Claims instituted or the presence, storage, use, disposal, transportation, discharge completed by such governmental authority(ies) or release of (ii) reasonably required to respond to any other Hazardous Materials on, under or about any Golf Course ParcelClaims; PROVIDED, HOWEVERprovided however, that Borrower will perform shall undertake such Remedial Work in good faith so as to minimize any impairment to Lender's security under the Loan Documents. All Remedial Work will shall be conducted (a) in a diligent and timely fashion by licensed contractors acting under the supervision of a consulting environmental engineerfashion; (b) pursuant to a detailed written plan for the Remedial Work approved by any public or private agencies or persons with a legal or contractual right to from which such approvalapproval is required; (c) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained by companies similarly situated to Borrower with respect to such activities; and (d) only following receipt of any required permits, licenses or approvals. The selection of the Remedial Work contractors and consulting environmental engineer, the contracts entered into with such parties, any disclosures to or agreements with any public or private agencies or parties relating to Remedial Work and the written plan for the Remedial Work (and any changes thereto) each will, at Lender's option, be subject to such Lender's prior written approval, which approval will not be unreasonably withheld or delayed. In addition, Borrower will shall submit to Lender, promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Borrower in connection with any Remedial Work or Hazardous Materials relating to any Golf Course ParcelProperty Collateral. All costs and expenses of such Remedial Work will shall be paid by Borrower, including, without limitation, including the charges of the Remedial Work contractors and the any consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and Lender's reasonable fees and costs (including Attorneys' Fees and consultant fees) incurred in connection with monitoring or reviewing review of such Remedial Work. Lender will shall have the right, but not the obligation, to join and participate in, as a party if it Lender so elects, any legal proceedings or actions initiated in connection with any Hazardous Materials Claims.

Borrower’s Remedial Work. Borrower will shall promptly perform any and all remediation, removal or other response (“Remedial Work”) necessary remedial work ("REMEDIAL WORK") in response to any Hazardous Materials Claims or the presence, storage, use, disposal, transportation, discharge or release of any Hazardous Materials on, under or about any Golf Course Parcelthe Project; PROVIDEDprovided, HOWEVERhowever, that Borrower will shall perform such Remedial Work in good faith so as to minimize any impairment to Lender's ’s security under the Loan Documents. All Remedial Work will shall be conducted (a) in a diligent and timely fashion by licensed contractors acting under the supervision of a consulting environmental engineer; (b) pursuant to a detailed written plan for the Remedial Work approved by any public or private agencies or persons with a legal or contractual right to such approval; (c) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities; and (d) only following receipt of any required permits, licenses or approvals. The selection of the Remedial Work contractors and consulting environmental engineerengineer to perform and supervise the Remedial Work, the contracts entered into with such parties, any disclosures to or agreements with any public or private agencies or parties relating to Remedial Work and the written plan for the Remedial Work (and any changes thereto) each willshall, at Lender's ’s option, be subject to such Lender's ’s prior written approval, which approval will shall not be unreasonably withheld or delayed. In addition, Borrower will shall submit to Lender, promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Borrower in connection with any Remedial Work or Hazardous Materials relating to any Golf Course ParcelWork. All costs and expenses of such Remedial Work will shall be paid by Borrower, including, without limitation, the charges of the Remedial Work contractors and the consulting environmental engineerengineer performing and supervising the Remedial Work, any taxes or penalties assessed in connection with the Remedial Work and Lender's ’s reasonable fees and fees, costs incurred in connection with monitoring or reviewing review of such Remedial WorkWork and reasonable attorney fees and costs. Lender will shall have the right, right but not the obligation, no obligation to join and participate in, as a party if it so elects, any legal proceedings or actions initiated in connection with any Hazardous Materials Claims.

Borrower’s Remedial Work. 54151.4 29 Borrower will shall promptly perform (or shall cause Facility Tenant to perform) any and all necessary remedial work ("REMEDIAL WORK"“Remedial Work”) in response to any Hazardous Materials Claims Environmental Proceedings or the presence, storage, use, disposal, transportation, discharge or release of any Hazardous Materials Material on, under or about the Facility or any Golf Course Parcel; PROVIDEDportion thereof as reasonably necessary to comply with any Legal Requirements or as may be necessary for protection of human health, HOWEVER, that Borrower will perform such Remedial Work in good faith so as the environment or to minimize any impairment to Lender's security under maintain the Loan Documentsvalue of the Land or Improvements. All Remedial Work will shall be conducted conducted: (a) in a diligent and timely fashion by licensed contractors acting under the supervision of a consulting environmental engineer; (b) pursuant to a detailed written plan for the Remedial Work approved by any public or private agencies or persons with a legal or contractual right to such approval; (c) with such insurance coverage pertaining to liabilities arising out of the Remedial Work as is then customarily maintained with respect to such activities; and (d) only following receipt of any required permits, licenses or approvals. The With respect to Remedial Work performed by or on behalf of Borrower, the selection of the Remedial Work contractors and consulting environmental engineer, the contracts entered into with such parties, any disclosures to or agreements with any public or private agencies or parties relating to Remedial Work and the written plan for the Remedial Work (and any changes thereto) shall each will, at Lender's option, be subject to such Lender's ’s prior written approval, which approval will shall not be unreasonably withheld or delayed. In addition, Borrower will shall submit to Lender, promptly upon receipt or preparation, copies of any and all reports, studies, analyses, correspondence, governmental comments or approvals, proposed removal or other Remedial Work contracts and similar information prepared or received by Borrower in connection with any Remedial Work Work, or Hazardous Materials Material relating to any Golf Course Parcelthe Facility. All costs and expenses of such Remedial Work will shall be paid by BorrowerBorrower (or Borrower shall cause the same to be paid by Facility Tenant pursuant to the terms of the Facility Lease), including, without limitation, the charges of the Remedial Work contractors and the consulting environmental engineer, any taxes or penalties assessed in connection with the Remedial Work and Lender's ’s reasonable fees and out-of-pocket costs incurred in connection with monitoring or reviewing review of such Remedial Work. Lender will Lender, at Lender’s sole expense, shall have the right, right but not the obligation, obligation to join and participate in, as a party if it so elects, any legal proceedings or actions initiated in connection with any Hazardous Materials ClaimsEnvironmental Proceedings.