Laserfiche WebLink
referred to as "Hazardous Materials Claims"), (iii) the Developer's discovery of any occurrence or <br /> condition on any real property adjoining or in the vicinity of the Development Area that could cause such <br /> property or any part thereof to be the subject of a claim or cause of action under any Environmental <br /> Laws, or the Developer's receipt of any notice in connection with the foregoing, and (iv) the Developer's <br /> discovery of any occurrence or condition on the property subject to this Agreement ar any real property <br /> adjoining or in the vicinity of the Development Area and such property which could subject the <br /> Developer or such property to any restrictions on ownership, occupancy, transferability or use of such <br /> property under any Environmental Laws. <br /> (4) Indemnitv. The Developer (and all parties claiming rights hereunder through the <br /> Developer) hereby agrees to indemnify, defend and hold harmless the Municipality from and against any <br /> and all Transfer Environmental Losses and any and all claims and liabilities under Environmental Laws. <br /> The Developer(and all parties claiming rights hereunder through the Developer) shall pay when due any <br /> judgments or claims for damages, penalties or otherwise against the Municipality, and shall assume the <br /> burden and expense of defending all suits, administrative proceedings and resolutions of any description <br /> with all persons, political subdivisions or governmental agencies arising out of the occurrences set forth <br /> in this Section. If such payment is not made, the Municipality, at its sole discretion, may file suit against <br /> the Developer(and all parties claiming rights hereunder through the Developer) to compel such payment. <br /> All funds advanced by the Municipality concerning this Section shall bear interest at either(i)the highest <br /> rate born by the Note, if any, plus 4% per annum, or (ii) if there is no Note at a rate equal to the <br /> published prime rate in The Wall Street Journal plus 4% per annum (in either case, (i) or (ii), the <br /> "Advance Rate," which rate may change from day to day) from the date or dates paid until paid by the <br />' Developer(and all parties claiming rights hereunder through the Developer). <br /> (5) Separate Obli ation. The obligations of the Developer (and all parties claiming <br /> rights hereunder through the Developer)under this Section are independent of, and shall not be measured <br /> or affected by, (i) any other amounts at any time owing pursuant to this Agreement, (ii) any other <br /> obligations of the Developer(and all parties claiming rights hereunder through the Developer)hereunder, <br /> including to holder(s) of the Note, or any other agreements delivered in connection therewith, whether <br /> they relate to compliance with Environmental Laws or the use or discharge of Hazardous Substa.nces or <br /> otherwise, (iii) the consideration given to any party in order to acquire the property subject to this <br /> Agreement, or any portion thereof, (iv) the modification, expiration or termination of the Developer's <br /> obligations under any other document or instrument relating thereto, or(v) the discharge or repayment of <br /> any portion of any other obligations. <br /> (6) Survival. The Developer's (and all parties claiming rights hereunder through the <br /> Developer) obligations hereunder shall survive the assignment, subleasing or other transfer, <br /> encumbrancing or disposition of the property subject to this Agreement. The rights of the Municipality <br /> under this Section shall be in addition to any other rights and remedies of such Municipality against the <br /> Developer under any other document or instrument now or hereafter executed by the Developer, or at law <br /> or in equity (including, without limitation, any right of reimbursement or contribution pursuant to <br /> CERCLA), and shall not in any way be deemed a waiver of any of such rights. <br /> (7) Obligations of the Developer Pavable Upon Demand. All obligations of the <br />, Developer hereunder(including(A) above) shall be payable on demand, and any amount due and payable <br /> hereunder to the Municipality by the Developer (and all parties claiming rights hereunder through the <br /> Developer) which is not paid immediately after written demand therefor from the Municipality with a <br /> reasonably detailed explanation of the amounts demanded shall bear interest from the date paid at the <br /> Advance Rate. <br /> 9 <br />� <br />