Common use of Phase I and Phase Clause in Contracts

Phase I and Phase. II Environmental Assessments of Community Bank's Primary Banking Facility. CBES hereby agrees that NASB Holding may cause to be performed a Phase I and Phase II environmental assessment of the real property on which Community Bank's primary banking facility is located (1001 North ▇▇▇▇▇ ▇▇▇▇▇ Road, Excelsior Springs, Missouri 64024). If as a result of such assessment it is determined that environmental clean-up costs would exceed $500,000, then NASB Holding may elect to terminate this Agreement pursuant to Section 7.1(h).