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WHEREAS, the Parties desire to investigateand, if necessary, perform UST abandonment, removal and/or remediation of petrol um hydrocarbons to bring the Property into compliance with applicable law; WHEREAS, Licensor is willing to purchase the Property with full knowledge of the presence of actual or potential subsurface petrol um hydrocarbons. NOW, THEREFORE, in consideration of the sale of the Property from Equilon j to Licensor, and the mutual promises and considerations stated herein the Parties agree as follows: 1. Grant of License. Licensor hereby grants a nonexclusive irrevocable license from the date of this Agreement to Equilon, i s employees, authorized agents and contractors to enter the Property to perform all monitoring well installations, tests, inspections, borings, engineering studies, surveys, appraisals, environmental studies, remediation operation and/or other activities hereinafter referred to as "Corrective Action" that Equilc n deems necessary to comply with all applicable federal, state and local statutes regulations, ordinances directives, orders and standards for removal of USTs and Corrective Action related to USTs. If Licensor fails to provide reasonable access to Equilon, or Licensor unreasonably interferes with Equilon's activities on the Property, such failure shall constitute waiver of any right, claim or cause of action Licensor may have against Equilon, to perform or continue Corrective Action on the Property. Such waiver shall not constitute the sole remedy for breach of this provision which remedies may include without limitation, consequential damages. 2. Environmental Investigation and Remediation. For as long as this Agreement remains in effect, Equilon, at its sole expense agrees to conduct any necessary Corrective Action at the Property in accordance with all applicable federal, state and local statutes, regulations, ordinances and standards; however, Licensor agrees Equilon is under no obligation to Licensor to remedy or respond to any environmental liability or condition on the Property that cannot be attributed solely to the alleged ownership or operation of the USTs by Equilon on the Property. 3. Regulations. Licensor hereby agrees to com ly with all existing and future applicable laws and regulations pertaining to underground storage tanks, including but not limited to liability and insurance requirements, inventory records, leak detection devices, system inspections, tank and line tests and tank field monitoring well tests. Licensor further agrees to copy Equilon, within fifteen (15) days of the date request is made by Equilon, with any records pertaining to the above. Further, upon written request by Equilon, Licensor shall make available all records required by applicable laws for review by Equilon at the Property during normal business hours. 4. Termination. Upon the completion of the C rrective Action, Equilon shall provide notice and appropriate documentation to the relevant government I