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consideration,the receipt and sufficiency of which aze hereby acknowledged,to the extent lawful,
<br /> the Developer agrees, as follows:
<br /> (1) Definitions. As used in this Section, certain additional terms shall have the
<br /> meanings, as follows:
<br /> "Environmental Laws" means all applicable laws, governmental rules and
<br /> regulations of any federal, state, regional or local governmental agency, including,
<br /> without limita.tion, all applicable federal, state and local laws, rules and regulations
<br /> pertaining to air and water qua.lity, hazardous waste, waste disposal and other
<br /> environmenta.l matters, including, but not limited to, the Clean Air, Federal Water
<br /> Pollution Control, Solid Waste Disposal, Resource Conservation and Recovery,
<br /> Comprehensive Environmental Response, Compensation and Liability, Illinois
<br /> Environmental Protection and Illinois Responsible Property Transfer Acts.
<br /> "Foreclosure Transfer" means any transfer of title to all or any interest in or part
<br /> of the property subject to this Agreement, whether by judicial or nonjudicial foreclosure,
<br /> by deed in lieu of foreclosure or otherwise. '
<br /> "Hazardous Substance"means any substance that is at any time defined or listed I�
<br /> in, or otherwise classified pursuant to, any applicable laws or regulations, including,
<br /> without limita.tion, the Environmental Laws, as a "hazardous substance," "hazardous
<br /> material," "hazardous waste," °°infectious waste," "toxic substance," "toxic pollutant" or
<br /> any other formulation intended to define, list or classify substances by reason of
<br /> deleterious properties such as ignitability, corrosivity, reactivity, carcinogenicity,
<br /> toxicity, reproductive tolcicity or "EP toxicity," including, without limitation, asbestos,
<br /> polychlorina.ted biphenyls and also including petroleum products, by-products and
<br /> wastes, or by-products associated with the extraction, refining or use of petroleum or
<br /> petroleum products,whether or not so listed or classified in such laws or regulations.
<br /> "Haza.rdous Substance Activity" means any actual, proposed or threatened
<br /> storage, holding, existence, use, release, emission, discharge, generation, processing,
<br /> abatement, removal, cleanup or detoxification, disposition, handling or transportation of
<br /> any Hazardous Substance from, under, into or on or in respect of the properiy subject to
<br /> this Agreement or the surrounding property, or any other activity or occurrence that
<br /> causes or would cause such event to exist.
<br /> "Transfer Environmental Losses"means any and all losses, liabilities, damages,
<br /> demands, claims, actions, judgments, causes of action, defects in title, assessments,
<br /> penalties, costs and expenses (including, without limitation, the reasonable fees and
<br /> disbursements of outside legal counsel and accounta.nts and the reasonable charges of in-
<br /> house legal counsel and accountants), and all foreseeable and unforeseeable
<br /> consequential damages, suffered or incurred, following a Foreclosure Transfer or a
<br /> Repayment Transfer, by any secured party in respect hereof arising out of or as a result
<br /> of: (i) the occurrence, prior to a Foreclosure Transfer or a Repayment Transfer, of any
<br /> event or activity which results in any Hazardous Substance Activity; (ii) any violation,
<br /> prior to a Foreclosure Transfer or a Repayment Transfer, of any applicable
<br /> Environmenta.l Laws relating to the premises or to the ownership, use, occupancy or
<br /> operation thereof, or any violation of such Environmental Laws arising from any matters
<br /> existing prior to a Foreclosure Transfer or a Repayment Transfer; (iii) any investigation,
<br /> inquiry, order(whether voluntary of involuntary), hearing, action or other proceeding by
<br />
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