Common use of Foreclose Clause in Contracts

Foreclose. Foreclose upon or otherwise take title to or possession or control of any real property without first obtaining a phase one environmental report thereon; provided, however, that St. Paul ▇▇▇ its Subsidiaries shall not be required to obtain such a report with respect to any real property having a fair market value of less than $1,000,000 or one-to four-family, non-agricultural residential property of five acres or less to be foreclosed upon unless it has reason to believe that such property might be in violation of or require remediation under Environmental Laws.