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The Developer acknowledges that it is aware of and familiar with the provisions <br />of S tion 1542 of the California Civil Code which provides as ll : <br />"A. GENERAL RELEASE DOES NOT EXTEND TO CLAIMS <br />WHICH THE CREDITOR DOES NOT KNOW DR SUSPECT <br />TO EXIST IN HIS FAVOR AT THE TIME EXECUTING <br />THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE <br />MATERIALLY AFFECTED HIS SETTLEMENT WIT THE <br />DEBT R.�l <br />Upon n the effectiveness of the release set f i th in this Section 206.4, the Developer <br />waives and relinquishes es all rights and benefits which it may have under Section 1542 of the <br />California Civil Code, <br />206.5 Developer Pi4ecautions After Closing. Upon n the Closing of any Phase, <br />the Developer shall take all reasonable precautions to prevent the release into the environment of <br />any Hazardous Materials in violation of law which are located in, on or under the portion of the <br />Site asseeiated with such Phase. Such precautions shall include compliance with all <br />Governmental Requirements with respect to Hazardous Materials. In addition, the Developer <br />shall install and utilize such equipment t and implement and adhere to such procedures as are <br />consistent with commercially reasonable standards as respects the disclosure, storage, arse, <br />removal and disposal of Hazardous Materials. <br />206.6 Required Disclosures After Closing. After the Closing of any Please, the <br />Developer shall notify the Agency, and provide to the Agency a copy or copies, of all <br />environmental pegmit , disclosures, applications, nti l ments or inquiries relating to the portion <br />of the Site incl uded within such Phase, including n tires of violation, notices to comply, <br />citations, inquiries, clean -up or abatement orders, cease and desist orders, reports filed pursuant <br />to self-reporting requirements is and reports filed or applications made pursuant to any <br />Governmental Requirement relating to Hazardous Materials and underground tanks, After the <br />Closing with respect to any Please, the Developer shall report to the Agency, as soon as possible <br />after each incident, any unusual or potentially important incidents with respect to the <br />Environmental Condition of the portion of the Site included Within SLICII Please. <br />After the Closing of any Please, the event of a release of any Hazardous Materials <br />into the environment t in violation of law 011 SLICII Phase, the Developer shall, as soon as possible <br />after the release, furnish to the Agency a copy of any and all reports relating thereto and copies <br />of all correspondence with governmental agencies relating to the release. Upon request, the <br />Developer shall furnish to the Agency a copy or copies of any and all other environmental <br />entitlements or inquiries relating to or affecting the Site including, but not limited to, all permit <br />applications, permits and reports including, without limitation, those reports and other matters <br />hick ma y be characterized as confidential. <br />206.7 Abatement Report. Prior to the Close of Escrow for a Phase, the Agency <br />shall, at its sole east and expense, deliver to the Developer a written report, reasonably <br />acceptable to the Developer, prepared by a ficensed third party unrelated to the Agency or any <br />contractor(s) or subcontractor(s) u any portion of the abatement of Hazardous <br />2 <br />D /1 400673$1 3!200272 -0001 <br />