Common use of Storage of Hazardous Materials Clause in Contracts

Storage of Hazardous Materials. Except as disclosed in the Environmental Report delivered to Lender prior to Closing, and except for materials customarily used or stored in connection with operation and management of properties similar to the applicable Individual Property, which materials at such Individual Property exist only in reasonable quantities and are stored, contained, transported, used, released, and disposed of reasonably and without violation of any Environmental Laws, to each Borrower’s knowledge after due inquiry, no Hazardous Materials are or were stored or otherwise located, and no underground storage tanks or surface impoundments are or were located, on any of the Properties, or to the knowledge of any Borrower after due inquiry, on adjacent parcels of real property, and no part of the property, or to any Borrower’s knowledge no part of such adjacent parcels of real property, including the groundwater located therein or thereunder, is presently contaminated by Hazardous Materials. Except as disclosed in the Environmental Reports, to the knowledge of each Borrower, none of the Properties is listed by any Governmental Authority as containing any Hazardous Materials. Without limiting the generality of the foregoing, there is not present at, on, in or under any of the Properties, PCB-containing equipment, asbestos or asbestos containing materials, underground storage tanks or surface impoundments for Hazardous Substances, lead in drinking water (except in concentrations that comply with all Environmental Laws), or lead based paint.

Appears in 2 contracts

Samples: Loan and Security Agreement (Lightstone Value Plus Real Estate Investment Trust, Inc.), Loan and Security Agreement (Lightstone Value Plus Real Estate Investment Trust, Inc.)

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Storage of Hazardous Materials. Except as disclosed in the Environmental Report delivered to Lender prior to Closing, and except for materials customarily used or stored in connection with operation and management of properties similar to the applicable Individual PropertyProperties, which materials at such Individual Property the Properties exist only in reasonable quantities and are stored, contained, transported, used, released, and disposed of reasonably and without violation of any Environmental Laws, to each Borrower’s Borrowers' knowledge after due inquiry, no Hazardous Materials are or were stored or otherwise located, and no underground storage tanks or surface impoundments are or were located, on any of the Properties, or to the knowledge of any Borrower Borrowers after due inquiry, on adjacent parcels of real property, and no part of the property, or to any Borrower’s Borrowers' knowledge no part of such adjacent parcels of real property, including the groundwater located therein or thereunder, is presently contaminated by Hazardous Materials. Except as disclosed in the Environmental ReportsReport, to the knowledge of each Borrowerthe Borrowers, none of the Properties is listed by any Governmental Authority as containing any Hazardous Materials. Without limiting the generality of the foregoing, there is not present at, on, in or under any of the Properties, PCB-containing equipment, asbestos or asbestos containing materials, underground storage tanks or surface impoundments for Hazardous Substances, lead in drinking water (except in concentrations that comply with all Environmental Laws), or lead based paint.

Appears in 1 contract

Samples: Loan and Security Agreement (Education Realty Trust, Inc.)

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Storage of Hazardous Materials. Except as disclosed in the Environmental Report delivered to Lender prior to Closing, and except for materials customarily used or stored in connection with operation and management of properties similar to the applicable Individual Property, which materials at such Individual the Property exist only in reasonable quantities and are stored, contained, transported, used, released, and disposed of reasonably and without violation of any Environmental Laws, to each Borrower’s knowledge after due inquiry, no Hazardous Materials are or were stored or otherwise located, and no underground storage tanks or surface impoundments are or were located, on any of the PropertiesProperty, or to the knowledge of any Borrower after due inquiry, on adjacent parcels of real property, and no part of the property, or to any Borrower’s knowledge no part of such adjacent parcels of real property, including the groundwater located therein or thereunder, is presently contaminated by Hazardous Materials. Except as disclosed in the Environmental ReportsReport, to the knowledge of each the Borrower, none of the Properties Property is not listed by any Governmental Authority as containing any Hazardous Materials. Without limiting the generality of the foregoing, there is not present at, on, in or under any of the PropertiesProperty, PCB-containing equipment, asbestos or asbestos containing materials, underground storage tanks or surface impoundments 35 for Hazardous Substances, lead in drinking water (except in concentrations that comply with all Environmental Laws), or lead based paint.

Appears in 1 contract

Samples: Loan and Security Agreement (Investors Real Estate Trust)

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