(iii)
Hazardous Substances
means any substance, material or waste that
is (A) defined as a hazardous substance, pollutant or contaminant, or hazardous waste or otherwise regulated pursuant to any Environmental Law, or (B) petroleum or a petroleum product or
by-product,
asbestos-containing material, lead-containing paint or plumbing, or any other substance defined as hazardous, dangerous, or toxic under any Environmental Law.
(b) To the Knowledge of HB, HB, its HB Subsidiaries, and the Subject Property currently owned, operated or leased are, and the Subject
Property owned, operated, or leased at any time during the past five years was at the time owned, operated, or leased, in material compliance with all applicable Environmental Laws, and to the Knowledge of HB, no circumstances exist, or existed at
the time a Subject Property, which is no longer owned, operated, or leased, was owned, operated or leased, that would result in a material violation of such Environmental Laws.
(c) None of the following exists, and to the Knowledge of HB, no reasonable basis for any of the following exists: pending or threatened
claims, actions, investigations, notices of
non-compliance,
information requests or notices of potential responsibility or proceedings involving HB, its HB Subsidiaries, or any Subject Property, relating
to:
(i) an asserted liability of HB or any HB Subsidiaries, or any prior owner, occupier, or user of Subject Property under any
applicable Environmental Law or the terms and conditions of any permit, license, authority, settlement, agreement, decree or other obligation arising under any applicable Environmental Law;
(ii) the handling, storage, use, transportation, removal, release or disposal of Hazardous Substances;
(iii) the actual or threatened discharge, release or emission of Hazardous Substances from, on or under or within Subject Property into the
air, water, surface water, ground water, land surface, or subsurface strata; or
(iv) personal injuries or damage to the Subject Property
related to or arising out of the release, use or disposal of Hazardous Substances.
(d) To the Knowledge of HB, no drums, barrels or
storage tanks underground or similar vessels are present on the Subject Property currently owned, operated, or leased by HB or its HB Subsidiaries, or, if present, none of such vessels is leaking and each of them is in full compliance with
all applicable Environmental Laws. With respect to any Subject Property, except as permitted by applicable Environmental Laws, neither HB nor the Bank owns, possesses or controls any PCBs,
PCB-contaminated
fluids, wastes or equipment, or any material amount of asbestos or asbestos-containing material. Any asbestos or asbestos-containing material on the Subject Property currently owned by
HB or its HB Subsidiaries, is properly contained in compliance with all applicable Environmental Laws, and to the Knowledge of HB, there is no threat that asbestos or asbestos-containing material will be released into the environment. To
the Knowledge of HB, no Hazardous Substances have been used, handled, stored, discharged, released or emitted, or are threatened to be discharged, released or emitted, at or on or from any Subject Property, except in compliance with applicable
Environmental Laws.
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