6C(1) Agreement with Fire Arts 305 E Colfax

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on the Real Estate. The terms "hazardous substance", "release" and "removal" as used herein shall have the same meaning and definition as set forth in paragraphs (14), (22) and (23), respectively, of Title 42 U.S.C. §9601 and LC. 13-7-8.7-1, provided, however, that the term "hazardous substance" as used herein also shall include "hazardous waste" as defined in paragraph (5) of 42 U.S.C. §6903 and "petroleum" as defined in paragraph (8) of 42 U.S.C. §6991. The term "superfund" as used herein means the Comprehensive Environmental Response, Compensation and Liability Act, as amended, being Title 42 U.S.C. §9601 et seq., as amended, and any similar state statute or local ordinance applicable to the Real Estate including, without limitation, LC. 13- 7-5-1, et seq. and I.C. 13-7-8.7-1, et seq. and all rules and regulations promulgated, administered and enforced by any governmental agency or authority pursuant thereto. The term "underground storage tank" as used herein shall have the same meaning and definition as set forth in paragraph (1) of 42 U.S.C. §6991. 7. The Grantor shall have no obligation to remediate any hazardous substance condition of the Real Estate. If remediation is necessary in order to transfer an acceptable site to the Grantee, the Grantee may terminate this Agreement and vacate the Real Estate, prior to the Date of Transfer. 8. The Grantee agrees for a period of twenty five (25) years following the Date of Transfer, to maintain the Real Estate as anot-for-profit fine arts studio and gallery and may transfer the Real Estate to a third party only if such third party agrees to the covenant in this paragraph and such transfer shall be subject to the written consent of the Grantor. The Grantor shall not unreasonably withhold its consent. The Grantee acknowledges that if this covenant is breached during the period stated herein, ownership of the Real Estate shall revert to the Grantor. The Grantee further agrees that the transfer document shall contain such a restriction and reversion clause. 4