Common use of Duty to Prevent Hazardous Material Contamination Clause in Contracts

Duty to Prevent Hazardous Material Contamination. Upon the execution of this Agreement, the Borrower shall take such actions as are necessary or prudent to prevent the release of any Hazardous Materials into the environment on or under the Property. During the operation and maintenance of the Property, the Borrower shall take all necessary precautions to prevent the release of any Hazardous Materials into the environment on or under the Property. Such precautions shall include compliance with all Governmental Requirements with respect to Hazardous Materials. In addition, the Borrower shall install and utilize such equipment and implement and adhere to such procedures as are consistent with the then prevailing standards as respects the disclosure, storage, use, removal and disposal of Hazardous Materials.