Common use of Supplemental Environmental Provisions Clause in Contracts

Supplemental Environmental Provisions. In the event that any portion of the Collateral is determined to be “environmentally impaired” (as “environmentally impaired” is defined in California Code of Civil Procedure Section 726.5(e)(3)) or to be an “affected parcel” (as “affected parcel” is defined in California Code of Civil Procedure Section 726.5(e)(1)), then, without otherwise limiting or in any way affecting Beneficiary’s or Trustee’s rights and remedies under this Deed of Trust, Beneficiary may elect to exercise its right under California Code of Civil Procedure Section 726.5(a) to (i) waive its lien on such environmentally impaired or affected portion of the Collateral, and (ii) exercise the rights and remedies of an unsecured creditor, including reduction of its claim against Grantor to judgment and any other rights and remedies permitted by law. For purposes of determining Beneficiary’s right to proceed as an unsecured creditor under California Code of Civil Procedure Section 726.5(a), Grantor shall be deemed to have willfully permitted or acquiesced in a release or threatened release of hazardous materials, within the meaning of California Code of Civil Procedure Section 726.5(d)(1), if the release or threatened release of hazardous materials was knowingly or negligently caused or contributed to by any lessee, occupant or user of any portion of the Collateral and Grantor knew or should have known of the activity by such lessee, occupant or user which caused or contributed to the release or threatened release. Beneficiary shall have the right under this Deed of Trust to allocate amounts recovered on the Liabilities first to those portions thereof other than damages and other amounts recoverable under California Code of Civil Procedure Section 736, and thereafter to damages and other amounts recoverable under said Section.

Supplemental Environmental Provisions. In the event that any portion of the Collateral Property is determined to be “environmentally impaired” (as “environmentally impaired” is defined in California Code of Civil Procedure Section 726.5(e)(3)) or to be an “affected parcel” (as “affected parcel” is defined in California Code of Civil Procedure Section 726.5(e)(1)), then, without otherwise limiting or in any way affecting BeneficiaryAgent’s, any Lender’s or Trustee’s rights and remedies under this Deed of TrustSecurity Instrument, Beneficiary Agent may elect to exercise its right under California Code of Civil Procedure Section 726.5(a) to (i) waive its lien on such environmentally impaired or affected portion of the CollateralProperty, and (ii) exercise the rights and remedies of an unsecured creditor, including reduction of its claim against Grantor Individual Borrower to judgment and any other rights and remedies permitted by law. For purposes of determining BeneficiaryAgent’s right to proceed as an unsecured creditor under California Code of Civil Procedure Section 726.5(a), Grantor Individual Borrower shall be deemed to have willfully permitted or acquiesced in a release or threatened release of hazardous materials, within the meaning of California Code of Civil Procedure Section 726.5(d)(1), if the release or threatened release of hazardous materials was knowingly or negligently caused or contributed to by any lessee, occupant or user of any portion of the Collateral Property and Grantor Individual Borrower knew or should have known of the activity by such lessee, occupant or user which caused or contributed to the release or threatened release. Beneficiary Agent shall have the right under Article VII of this Deed of Trust Security Instrument to allocate amounts recovered on the Liabilities Debt first to those portions thereof other than damages and other amounts recoverable under California Code of Civil Procedure Section 736, and thereafter to damages and other amounts recoverable under said SectionArticle.

Supplemental Environmental Provisions. In the event that any ------------------------------------- portion of the Collateral Property is determined to be “"environmentally impaired” " (as “"environmentally impaired” " is defined in California Code of Civil Procedure Section 726.5(e)(3)) or to be an “"affected parcel” " (as “"affected parcel” " is defined in California Code of Civil Procedure Section 726.5(e)(1)), then, without otherwise limiting or in any way affecting Beneficiary’s Lender's or Trustee’s 's rights and remedies under this Deed of TrustSecurity Instrument, Beneficiary Lender may elect to exercise its right under California Code of Civil Procedure Section 726.5(a) to (i) waive its lien on such environmentally impaired or affected portion of the CollateralProperty, and (ii) exercise the rights and remedies of an unsecured creditor, including reduction of its claim against Grantor Borrower to judgment and any other rights and remedies permitted by law. For purposes of determining Beneficiary’s Lender's right to proceed as an unsecured creditor under California Code of Civil Procedure Section 726.5(a), Grantor Borrower shall be deemed to have willfully permitted or acquiesced in a release or threatened release of hazardous materials, within the meaning of California Code of Civil Procedure Section 726.5(d)(1), if (i) the release or threatened release of hazardous materials Hazardous Substances was knowingly or negligently caused or contributed to by any lessee, occupant or user of any portion of the Collateral Property and Grantor knew or should have known (ii) Borrower had prior knowledge of the activity by such lessee, occupant or user which caused or contributed to the release or threatened release but failed to take commercially reasonable action to prevent such release or threatened release. Beneficiary shall have the right under this Deed of Trust to allocate amounts recovered on the Liabilities first to those portions thereof other than damages and other amounts recoverable under California Code of Civil Procedure Section 736, and thereafter to damages and other amounts recoverable under said Section.

Supplemental Environmental Provisions. In the event that any portion of the Collateral Property is determined to be “environmentally impaired” (as “environmentally impaired” is defined in California Code of Civil Procedure Section 726.5(e)(3)) or to be an “affected parcel” (as “affected parcel” is defined in California Code of Civil Procedure Section 726.5(e)(1)), then, without otherwise limiting or in any way affecting Beneficiary’s, Lender’s or Trustee’s rights and remedies under this Deed of TrustSecurity Instrument, Beneficiary or Lender may elect to exercise its right under California Code of Civil Procedure Section 726.5(a) to (i) waive its lien on such environmentally impaired or affected portion of the CollateralProperty, and (ii) exercise the rights and remedies of an unsecured creditor, including reduction of its claim against Grantor Borrower to judgment and any other rights and remedies permitted by law. For purposes of determining Beneficiary’s or Lender’s right to proceed as an unsecured creditor under California Code of Civil Procedure Section 726.5(a), Grantor Borrower shall be deemed to have willfully permitted or acquiesced in a release or threatened release of hazardous materials, within the meaning of California Code of Civil Procedure Section 726.5(d)(1), if the release or threatened release of hazardous materials was knowingly or negligently caused or contributed to by any lessee, occupant or user of any portion of the Collateral Property and Grantor Borrower knew or should have known of the activity by such lessee, occupant or user which caused or contributed to the release or threatened release. Beneficiary and Lender shall have the right under this Deed of Trust to allocate amounts recovered on the Liabilities Debt first to those portions thereof other than damages and other amounts recoverable under California Code of Civil Procedure Section 736, and thereafter to damages and other amounts recoverable under said Sectionhereunder.