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WHEREAS, an underground storage tank system as defined in 40 CFR Part 280 or
<br /> supplanting federal regulations owned by Equilon or its predecessors in interest ("UST System")
<br /> may bels present on the Property, and
<br /> WHEREAS, petroleum hydrocarbons, including gasoline additives (collectively
<br /> "Substances"), may be present on the Property, and
<br /> WHEREAS, the Parties desire to investigate and, if necessary, perform removal Or
<br /> remediation of Substances to bring the Property into compliance with applicable law; and
<br /> WHEREAS, Purchaser is willing to purchase the Property with full knowledge of the
<br /> potential for or actual presence of subsurface Substances.
<br /> NOW, THEREFORE, in exchange for the mutual promises and considerations stated
<br /> herein the Parties agree as follows:
<br /> 1. GRANT OF LICENSE. Owner/Tenant hereby grant(s) a nonexclusive
<br /> irrevocable license from the date of this Agreement to Equilon, its employees, authorized agents
<br /> and contractors, and any relevant governmental agency with jurisdiction ("Agency"), its
<br /> employees, authorized agents and contractors, to enter the Property to perform all monitoring
<br /> well installations, tests, inspections, borings, engineering studies, surveys, appraisals,
<br /> environmental studies, remediation operations or other activities hereinafter referred to as
<br /> "Corrective Action" that Equilon deems necessary to comply with all applicable federal, state
<br /> and local statutes, regulations, ordinances directives, orders and standards for removal of UST
<br /> Systems and Corrective Action related to the UST System. If Ownerlfenant fail(s) to provide
<br /> reasonable access to Equilon, or Owner/Tenant unreasonably interfere(s) with Equilon's
<br /> activities on the Property, such failure shall constitute waiver of any right, claim of cause of
<br /> action Owner/Tenant may have against Equilon to perform or continue Corrective Action on the
<br /> Property. Such waiver shall not constitute the sole remedy for breach of this provision which
<br /> remedies may include without limitation, consequential damages. This Agreement is intended
<br /> and shall be construed only as a temporary license to enter and conduct the Corrective Action
<br /> upon the Property and not a grant of easement or any other interest in the Property.
<br /> Owner/Tenant shall, as soon as possible, but not later than thirty (30) days after damage or
<br /> destruction, replace or repair, at its sole expense, all monitoring wells, monitoring well pads,
<br /> remediation equipment or piping installed by Equilon on the Property and damaged or destroyed
<br /> by Owner/Tenant.
<br /> 2. ENVIRONMENTAL INVESTIGATION AND REMEDIATION. For as long as this
<br /> Agreement remains in effect, Equilon, at its sole expense, agrees to conduct any necessary
<br /> Corrective Action at the Property in accordance with all applicable federal, state and local
<br /> statutes, regulations, ordinances and standards; however, Owner/Tenant agree(s) Equilon is
<br /> under no obligation to Owner/Tenant to remedy or respond to any environmental liability or
<br /> condition on the Property that cannot be attributed to the UST System on the Property.
<br /> 3. REGULATIONS. Purchaser hereby agrees to comply with all existing and future
<br /> applicable laws and regulations pertaining to underground storage tank systems, including but
<br /> not limited to those requiring insurance, inventory records, leak detection devices, system
<br /> inspections, tank and line tests and tank field monitoring well tests. Purchaser further agrees to
<br /> copy Equilon, within fifteen (15) days of the date request is made by Equilon, with any records
<br /> pertaining to the above. Further, upon written request by Equilon, Purchaser shall make
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