Monroe Closing and Applied’s Remedial Action of 800-822 Monroe Street. Contemporaneously with the Observer Closing, Applied shall convey 800-822 Monroe Street to Hoboken (“Monroe Closing”). The Parties acknowledge that Applied is completing the environmental remediation of soils and groundwater at 800-822 Monroe Street and that same shall be done to a restricted use standard involving the implementation of engineering and institutional controls and a groundwater classification exception area (“CEA”), respectively, pursuant to NJDEP PI No. 670384 (“Applied’s Remedial Action”). Contemporaneously with the Monroe Closing, Hoboken and Applied shall enter into an access agreement, the form and substance of which shall be consistent with this Agreement, providing Applied with post-closing access to 800-822 Monroe Street to complete Applied’s Remedial Action.