SITE INFORMATION AND CORRESPONDENCE_FILE 2

Home Browse Search

hereby deleted and replaced with the following: r AN -� c. Section 4(a): Section 4(a) of the Agreement is hereby deleted and replaced with the following: Seller and Purchaser acknowledge that the Property is the location of a former retail gas station and that the soil and groundwater of the Property are suspected to be contaminated with certain petroleum hydrocarbons. Accordingly, Purchaser's performance hereunder shall be conditioned upon Purchaser's obtaining a written plan of remediation (the"Remediation Plan") acceptable to the appropriate governmental authorities for bringing the Property into compliance with all environmental laws and regulations. In connection with the Remediation Plan, Purchaser is hereby authorized to enter upon the Property and conduct, at Purchaser's cost and expense, all necessary tests and investigations required to determine the extent of and to develop a plan of remediation for any proven contamination. Sellers acknowledges that the cost of remediating any proven contamination may be subject to reimbursement from the State of California and/or Seller's current or previous insurers. In that regard, Seller shall provide to Purchaser any and all insurance information and/or documentation, including but not limited to Seller's current and previous policies of insurance. Seller shall cooperate with Purchaser with respect to (i) developing the Remediation Plan and (ii) obtaining reimbursement of remediation costs from the State of California and/or Seller's current or previous insurers. To the extent that Seller is entitled to anv reimbursement for Seller's expenses related to the environmental condition of the Property, which expenses were incurred by Seller prior to the date of the Agreement, Purchaser shall cooperate with Seller in obtaining such reimbursement, d. Section 7(e): Section 7(e) of the Agreement is hereby deleted and replaced with the following: n -2-