|
petroleum components,oil,mineral spirits,natural gas,natural gas liquids, liquefied natural gas,or
<br /> synthetic gas usable as fuel, perchlorate, and methyl tent butyl ether, whether or not defined as a
<br /> hazardous waste or hazardous substance in the Environmental Laws.
<br /> (ii) "Environmental Laws" means any and all federal, state and local statutes,
<br /> ordinances,orders,rules,regulations,guidance documents,judgments,governmental authorizations
<br /> or directives, or any other requirements of governmental authorities, as may presently exist, or as
<br /> may be amended or supplemented,or hereafter enacted,relating to the presence,release,generation,
<br /> use,handling,treatment,storage,transportation or disposal of Hazardous Material,or the protection
<br /> of the environment or human, plant or animal health, including, without limitation, the
<br /> • Comprehensive Environmental Response,Compensation and Liability Act of 1980,as amended by
<br /> the Superfund Amendments and Reauthorization Act of 1986 (42 U.S.C. § 9601), the Hazardous
<br /> Materials Transportation Act(49 U.S.C. § 1801 et seq.),the Resource Conservation and Recovery
<br /> Act(42 U.S.C. § 6901 et seq.), the Federal Water Pollution Control Act(33 U.S.C. § 1251 et sey.),
<br /> the Clean Air Act(42 U.S.C. § 7401 et seq.),the Toxic Substances Control Act(15 U.S.C. §2601 et
<br /> seq.), the Oil Pollution Act (33 U.S.C. § 2701 et seq.), the Emergency Planning and Community
<br /> Right-to-Know Act(42 U.S.C. § 11001 et seq.),the Porter-Cologne Water Quality Control Act(Cal.
<br /> Water Code§ 13000 et seq.),the Toxic Mold Protection Act(Cal. Health&Safety Code§ 26100,et
<br /> seq.), the Safe Drinking lVater and Toxic Enforcement Act of 1986 (Cal. Health & Safety Code
<br /> § 25249.5 et seq.), the Hazardous Waste Control Act(Cal. Health & Safety Code§ 25100 et seq.),
<br /> the Hazardous Materials Release Response Plans & Inventory Act (Cal. Health & Safety Code
<br /> § 25500 et seq.),and the Carpenter-Presley-Tanner Hazardous Substances Account Act(Cal. Health
<br /> and Safety Code, Section 25300 et seq.).
<br /> ARTICLE III
<br /> DEFAULTS AND REMEDIES
<br /> 3.1 Event of Default. An Event of Default shall arise hereunder upon: (i) Borrower's
<br /> material breach of any representation, warranty, covenant or obligation under this Agreement, the
<br /> Note,the Deed of Trust or the Regulatory Agreement which is not cured within the time periods set
<br /> forth therein,or if no time period is specified within sixty(60)days after notice thereof given by the
<br /> City to Borrower, or in the case of a default for which a cure is not possible within sixty (60) days,
<br /> for which a cure is not commenced within sixty(60)days and diligently prosecuted to completion;
<br /> (ii)an Event of Borrower Default shall have arisen under any other Loan Document and shall have
<br /> remained uncured beyond the expiration of all applicable cure periods; or(iii)an event of default on
<br /> the part of Borrower shall have arisen under any other document evidencing or securing financing
<br /> for the Project or imposing occupancy, rent or other restrictions on the Project, and shall have
<br /> remained uncured beyond the expiration of all applicable cure periods. Notwithstanding anything to
<br /> the contrary contained herein, the City hereby agrees that any cure of any default made or tendered
<br /> by one or more of Borrower's partners shall be deemed to be a cure by Borrower and shall be
<br /> accepted or rejected on the same basis as if made or tendered by Borrower.
<br /> 3.2 City's Remedies. Upon the occurrence of an Event of Default, the City may pursue
<br /> any remedy allowed at law or in equity, including but not limited to,accelerating payment under the
<br /> Note, pursuing foreclosure under the Deed of Trust, or applying to any state or federal court for an
<br /> order of specific performance of this Agreement and the Regulatory Agreement.
<br /> 2220130.1 Page 12
<br />
|