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below), and similar actions with respect to Hazardous Materials (as defined below) as defined
<br />under comparable state and local laws, and any other cleanup, removal, containment, abaternent,
<br />recycling, transfer, monitoring, storage, treatment, disposal, closure, restoration or other
<br />mitigation or remediation of Hazardous Materials or releases required by any environmental
<br />agency or within the purview of any Environmental Laws. "Hazardous Materials" means any
<br />and all substances, materials and wastes which are regulated as hazardous or toxic under
<br />applicable local, state or federal law or which are classified as hazardous or toxic under local,
<br />state or federal laws or regulations, including, without limitation, (i) those substances included
<br />within the definitions of "hazardous substances," "hazardous materials," "toxic substances,"
<br />"solid waste," "pollutant" or "contaminant" as such terms are defined by or listed in the
<br />Comprehensive Environmental Response Compensation and Liability Act of 1980 (42 U.S.C. §
<br />9601 et seq.) ( "CERCLA "), as amended by Superfund Amendments and Reauthorization Act of
<br />1986 (Pub. L. 99 -499 100 Stat. 1613) ( "SARA "), the Hazardous Materials Transportation Act
<br />(49 U.S.C. § 1801 et seq.), the Resource Conservation and Recovery Act of 1976 (42 U.S.C. §
<br />6901 et seq.) ( "RCRA "), the Toxic Substance Control Act (15 U.S.C. § 2601 et seq.), the
<br />Federal Insecticide, Fungicide and Rodenticide Control Act (7 U.S.C. § 136 et seq.), the
<br />Occupational Safety and Health Act of 1970 (29 U.S.C. § 651 et seq.), the Emergency Planning
<br />and Community Right to Know Act of 1986 (42 U.S.C. § 11001 et seq.), the Hazardous and
<br />Solid Waste Amendments of 1984 (Public Law 86 -616 Nov. 9, 1984), the Federal Clean Air Act
<br />(42 U.S.C. § 7401 et seq.), and in the regulations promulgated pursuant to such laws, all as
<br />amended, (ii) those substances listed in the United States Department of Transportation Table
<br />(49 CFR 172.101) or 40 CFR Part 302, both as amended, and (iii) any material, waste or
<br />substance which is (A) oil, gas or any petroleum or petroleum by- product, (B) asbestos, in any
<br />form, (C) polychlorinated biphenyls, (D) designated as a "hazardous substance" pursuant to
<br />Section 311 of the Clean Water Act (33 U.S.C. § 1251 et seq.), as amended, (E) flammable
<br />explosives, or (F) radioactive materials (collectively, "Environmental Laws ").
<br />"Environmental Conditions" shall mean the presence upon the Property of any Hazardous
<br />Materials, or condition on the Property giving rise to any required action to be taken by any
<br />governmental body or agency in relation to any Hazardous Materials or Environmental Laws.
<br />3.4. Optionor shall not place, or allow to be placed, on its interests in the Property,
<br />Improvements, or any portion thereof, any mortgage or encumbrance of lien. Optionor shall,
<br />within thirty (30) calendar days following receipt of notice thereof, cause to be removed or
<br />bonded against (such bonding to be by the provision of bonds satisfying California statutory
<br />requirements) any and all mechanic's liens, stop notices and /or bonded stop notices that are
<br />recorded and /or served by contractors, subcontractors (of all tiers) and suppliers in connection
<br />with the portion of the Property.
<br />4. Optionor Conditions Precedent
<br />4.1. Not later than January 15, 2016, Optionee will deliver to Optionor, for Optionor's
<br />review a Project development plan (as mutually agreed by the Parties as provided in this
<br />Agreement, the "Development Plan "). Within thirty (30) days after Optionee delivers to
<br />Optionor the Development Plan, Optionor will advise Optionee in writing of Optionor's
<br />comments, suggestions and requirements therefor. If applicable, within fifteen (15) days after
<br />Optionor advises Optionce of Optionor's comments, suggestions and requirements for the
<br />Development Work Plan, Optionee will submit to Optionor, for Optionor's review a revised
<br />Development Plan. The procedures of set forth above shall continue until the Parties mutually
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