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1/13/2014 12:24:34 PM
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7. Term of Indemnity. The cross - indemnifications set forth in Paragraphs 4 and 5 <br />above shall automatically expire on the date that is 35 years from the date of this Environmental <br />Agreement. <br />8. Remediation. Subject to the terms of this Environmental Agreement, the <br />Indemnitor agrees to promptly perform (or cause to be promptly performed) the environmental <br />investigations and corrective actions necessary to complete Remediation of any Environmental <br />Condition at the Property covered by the Indemnitor's indemnification, to the extent required by <br />the IDEM and any other governmental authorities with jurisdiction over the Hazardous <br />Substances and contamination at the Property. As used herein, "Remediation" means (i) <br />performing environmental property assessment activities (which may include taking soil borings <br />and the installation, sampling and maintaining of groundwater monitoring wells and /or other <br />monitoring points and related activities) on the Property to complete an assessment of the <br />Property as required by IDEM or other governmental authorities or any court of competent <br />jurisdiction; (ii) performing corrective action to diligently remediate such Hazardous Substances <br />consistent with the rules, regulations and requirements of IDEM or other governmental <br />authorities or any court of competent jurisdiction. <br />Any such Remediation shall be considered complete upon the issuance of a letter from <br />IDEM or other governmental authority stating that no further action is necessary concerning the <br />Property (a "NFA Letter "). Upon termination of the Remediation, the Indemnitor shall <br />decommission any remaining monitoring points and other corrective action equipment and <br />restore the surface of the Property affected by the decommissioning to substantially the same <br />condition which existed prior to such decommissioning in accordance with the rules and <br />regulations of IDEM or other applicable government authority. <br />The Parties further agree and understand there is currently a voluntary remediation being <br />performed by Honeywell pursuant to IDEM's Voluntary Remediation Program. This <br />remediation shall be considered complete upon the issuance of a Certificate of Completion or the <br />equivalent from IDEM, together with a covenant not to sue from IDEM, which runs with the <br />land that addresses all Environmental Conditions addressed in the Honeywell VRA. <br />9. VVa or Intrusion Investigation. The Commission agrees to seek Honeywell's <br />commitment to perform any vapor intrusion investigation or mitigation work required by IDEM <br />as part of the Comfort Letter process. Curtis agrees to provide to the Commission all reasonable <br />assistance and cooperation in securing Honeywell's commitment to perform this work. In the <br />event that the Commission is unable to secure Honeywell's commitment to perform the <br />investigation and/or mitigation work, the Commission agrees to fund the investigation and /or <br />mitigation work and then seek reimbursement or indemnification from Honeywell. The <br />Commission agrees that all vapor intrusion investigation and mitigation work conducted by <br />Honeywell or the Commission shall comply with Environmental Laws and any applicable IDEM <br />guidance. <br />10. Access. Curtis shall cooperate in allowing Honeywell, Bosch, and the <br />Commission, as well as their respective agents and contractors access to and use of the Property <br />
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