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