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Corrective Action performed pursuant to this Agreement.
<br /> 7. Site Restoration. Shell agrees,upon completion of the Corrective Action
<br /> contemplated by this Agreement, to restore the surface of the Property to as near
<br /> the approximate grade and pavement as existed prior to said Corrective Action as
<br /> is reasonably possible,including proper plugging, abandonment or removal of any
<br /> monitoring well as may be required in accordance with applicable law.
<br /> 8. Indemnities. Shell agrees to indemnify,defend and hold Licensor, and its officers,
<br /> directors, shareholders, employees, agents,insurers,representatives, successors,
<br /> and assigns (collectively referred to as "Indemnified Party")harmless from any
<br /> and all liabilities, losses, claims, demands, or orders arising out of the Corrective
<br /> Action Shell performs pursuant to this Agreement, except to the extent that any
<br /> said liabilities, losses, claims, demands,or orders may be attributed in whole or in
<br /> part to the negligence, gross negligence or intentional act of the Indemnified
<br /> Party. Shell's indemnification obligation shall not include direct or indirect
<br /> economic loss attributable to short tern business interruptions as a result of
<br /> Shell's activities on the Property. This indemnity shall terminate at the time the
<br /> Corrective Action is complete as set forth in paragraph 3 of this Agreement and be
<br /> of no further force or effect.
<br /> Shell agrees to indemnify and hold harmless Licensor from and against any
<br /> and all claims, costs, expenses (including reasonable attorneys'fees),
<br /> demands,fines, causes of action,losses, damages,judgments or liabilities
<br /> which may be made or asserted by any third party (including a governmental
<br /> agency) on account of personal injury,death, or property damage caused by,
<br /> arising out of, or in any way incidental to the presence of petroleum
<br /> hydrocarbons on the Property;provided that such presence of petroleum
<br /> hydrocarbons was proximately caused by the USTs.
<br /> 9. Release. In exchange for Shell's commitments as set forth in this Agreement,
<br /> Licensor hereby releases, acquits,holds harmless and forever discharges Shell,
<br /> and its parents,predecessors, subsidiaries, affiliates, officers, directors,
<br /> employees, agents, and each of their predecessors, successors,heirs and assigns of
<br /> and from any and all claims,rights, causes of action, demands the licensor,its
<br /> heirs, predecessors, successors and assigns may have whether directly or
<br /> indirectly,whether accrued in the past,present, or future,whether known or
<br /> unknown,whether for damages or equitable relief of any sort including, without
<br /> limitation, claims for personal injury, attorneys' fees, consulting and expert fees,
<br /> Corrective Action costs, diminution in the value or financiability of the Property,
<br /> loss of use or damage to the Property,loss of profits,rentals and other business
<br /> opportunity,increased development costs, and any and all other property damages
<br /> and damages to natural resources on the Property or other property owned by
<br /> Licensor and located adjacent to the Property,which could be shown to arise from
<br /> the purchase, use, operation,maintenance,installation and/or removal or
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