Common use of Environmental Investigation; Rights to Terminate Agreement Clause in Contracts

Environmental Investigation; Rights to Terminate Agreement. A. FNBC and its Representatives may, to the same extent that SIBC or SI Bank has such right, but will not be obligated, to inspect any owned SIBC Real Property, including conducting asbestos surveys and sampling, environmental assessments and investigation, and other non-invasive or non-destructive environmental surveys and analyses (“Environmental Inspections”) at any time on or prior to 30 days after the date of this Agreement. All costs and expenses associated with conducting an Environmental Inspection will be borne by FNBC. If, as a result of an Environmental Inspection, further investigation (“Secondary Investigation”) including test borings, soil, water, asbestos or other sampling, is deemed desirable by FNBC, FNBC will (i) notify SIBC or SI Bank (in such capacity, an “Investigated Party”) of any property with respect to which it intends to conduct a Secondary Investigation and the reasons for the Secondary Investigation, (ii) submit a work plan for the Secondary Investigation to the Investigated Party, afford the Investigated Party the ability to comment on the work plan and reasonably consider all such comments, and (iii) conclude the Secondary Investigation within 60 days after the date of receipt of comments from the Investigated Party, but in no event more than 90 days from the date of this Agreement. FNBC will give reasonable notice to the Investigated Party of any Secondary Investigations, and the Investigated Party may place reasonable restrictions on the time and place at which the Secondary Investigations may be carried out.

Environmental Investigation; Rights to Terminate Agreement. A. FNBC Business First and its Representatives may, to the same extent that SIBC MBI or SI MBL Bank has such right, but will not be obligated, to inspect any owned SIBC MBI Real Property, including conducting asbestos surveys and sampling, environmental assessments and investigation, and other non-invasive or non-destructive environmental surveys and analyses (“Environmental Inspections”) at any time on or prior to 30 days after the date of this Agreement. All costs and expenses associated with conducting an Environmental Inspection will be borne by FNBCBusiness First. If, as a result of an Environmental Inspection, further investigation (“Secondary Investigation”) including test borings, soil, water, asbestos or other sampling, is deemed desirable by FNBCBusiness First, FNBC Business First will (i) notify SIBC MBI or SI MBL Bank (in such capacity, an “Investigated Party”) of any property with respect to which it intends desires to conduct a Secondary Investigation and the reasons for the Secondary Investigation, (ii) submit a work plan for the Secondary Investigation to the Investigated Party, afford the Investigated Party the ability to comment on the work plan within 14 days following receipt of the work plan, and reasonably consider all such comments, and (iii) conclude the Secondary Investigation within 60 days after the date of receipt of comments from the Investigated Party, but in no event more than 90 days from the date of this Agreement. FNBC Business First will give reasonable notice to the Investigated Party of the commencement date of any Secondary Investigations, and the Investigated Party may place reasonable restrictions on the time and place at which the Secondary Investigations may be carried out. The Investigated Party will indemnify and hold harmless Business First for any claims for damage to property, or injury or death to persons, made as a result of any Environmental Inspection or Secondary Investigation conducted by Business First or its Representatives to the extent attributable to the gross negligence or willful misconduct of the Investigated Party or its Representatives.

Environmental Investigation; Rights to Terminate Agreement. A. FNBC Investar and its Representatives may, to the same extent that SIBC Citizens or SI Citizens Bank has such right, but will not be obligated, to inspect any owned SIBC Citizens Real Property, including conducting asbestos surveys and sampling, environmental assessments and investigation, and other non-invasive or non-destructive environmental surveys and analyses (“Environmental Inspections”) at any time on or prior to 30 thirty (30) days after the date of this Agreement. All costs and expenses associated with conducting an Environmental Inspection will be borne by FNBCInvestar. If, as a result of an Environmental Inspection, further investigation (“Secondary Investigation”) including test borings, soil, water, asbestos or other sampling, is deemed desirable by FNBCInvestar, FNBC Investar will (i) notify SIBC Citizens or SI Citizens Bank (in such capacity, an “Investigated Party”) of any property with respect to which it intends to conduct a Secondary Investigation and the reasons for the Secondary Investigation, (ii) submit a work plan for the Secondary Investigation to the Investigated Party, afford the Investigated Party the ability to comment on the work plan and reasonably consider all such comments, and (iii) conclude the Secondary Investigation within 60 sixty (60) days after the date of receipt of comments from the Investigated Party, but in no event more than 90 days from the date of this Agreement. FNBC Investar will give reasonable notice to the Investigated Party of any Secondary Investigations, and the Investigated Party may place reasonable restrictions on the time and place at which the Secondary Investigations may be carried out.