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authorize any such holder to devote the Property to any uses, or to construct any improvements
<br />other than the uses and improvements provided for or authorized by this Agreement.
<br />7.7.3 Notice of Default to Mortgagee or Deed of Trust Holders, Right to Cure
<br />Whenever the City delivers any notice or demand to Developer with respect to any breach or
<br />default by the Developer hereunder, the City shall at the same time deliver to each holder of
<br />record of any mortgage or deed of trust authorized by this Agreement a copy of such notice or
<br />demand. Each such holder shall have the right, at its option, within 120 days after the receipt of
<br />the notice, to cure or remedy or commence to cure or remedy any such default and to add the
<br />cost thereof to the mortgage debt and the lien of its mortgage. In the event possession of the
<br />Property (or portion thereof) is required to effectuate such cure or remedy, the holder shall be
<br />deemed to have timely cured or remedied if it commences the proceedings necessary to obtain
<br />possession thereof within 120 days, diligently pursues such proceedings to completion, and, after
<br />obtaining possession, diligently completes such cure or remedy. Nothing in this Agreement shall
<br />be deemed to permit or authorize such holder to undertake or continue the construction or
<br />completion of the Project (beyond the extent necessary to conserve or protect the improvements
<br />or construction already undertaken) without first having expressly assumed the Developer's
<br />obligations to the City by written agreement satisfactory to the City. Any such holder properly
<br />completing the Project shall be entitled to a Certificate of Completion.
<br />ARTICLE VIII
<br />CONDITION OF THE SITE; ENVIRONMENTAL MATTERS
<br />8.1 Definitions.
<br />8.1.1. "Hazardous Material' means any chemical, compound, material, mixture,
<br />or substance that is now or may in the future be defined or listed in, or otherwise classified
<br />pursuant to any Environmental Laws (defined below) as a "hazardous substance ", "hazardous
<br />material ", "hazardous waste ", "extremely hazardous waste ", infectious waste ", toxic substance ",
<br />toxic pollutant ", or any other formulation intended to define, list or classify substances by reason
<br />of deleterious properties such as ignitability, corrosivity, reactivity, carcinogenicity, or toxicity.
<br />The term "hazardous material" shall also include asbestos or asbestos - containing materials,
<br />radon, chrome and /or chromium, polychlorinated biphenyls, petroleum, petroleum products or
<br />by- products, petroleum components, oil, mineral spirits, natural gas, natural gas liquids, liquefied
<br />natural gas, or synthetic gas usable as fuel, perchlorate, and methy tert butyl ether, whether or not
<br />defined as a hazardous waste or hazardous substance in the Environmental Laws.
<br />8.1.2 "Environmental Laws" means any and all federal, state and local
<br />statutes, ordinances, orders, rules, regulations, guidance documents, judgments, governmental
<br />authorizations or directives, or any other requirements of governmental authorities, as may
<br />presently exist, or as may be amended or supplemented, or hereafter enacted, relating to the
<br />presence, release, generation, use, handling, treatment, storage, transportation or disposal of
<br />Hazardous Materials, or the protection of the environment or human, plant or animal health,
<br />including, without limitation, the Comprehensive Environmental Response, Compensation and
<br />Liability Act of 1980, as amended by the Superfund Amendments and Reauthorization Act of
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