Section 1.1. The Site.
1.1.1 The Hotel shall be constructed upon lands located at ______________, Mangalore, Karnataka, India, and more particularly described on Exhibit 1 attached hereto and made a part hereof (“Site“). The Site shall have been acquired and owned by Owner as of the Effective Date, and Owner, at its own expense, shall fulfill and maintain all requirements of all applicable governmental authorities relating to ownership, construction, furnishing, decorating and equipping of the Hotel on the Site. [Hyatt: To be modified as appropriate, if Owner has leasehold rights]
1.1.2 To Owner’s knowledge (i) no hazardous or toxic materials, substances or wastes are or have been manufactured, generated, processed, used, handled, stored, disposed, released or discharged at, on, in, over, under or from the Hotel, the Site or the real property adjacent to the Site, (ii) there are no soil, water, air, mineral, chemical or environmental conditions or contamination at, on, in, over, under or from the Hotel, the Site or the real property adjacent to the Site that does, or with the passage of time will, require any remediation, abatement, removal, clean up, monitoring or other corrective action, or notice or reporting to any governmental authority or employees or patrons of the Hotel, pose any threat to the health and safety of the employees or patrons of the Hotel or the environmental or natural resources in general, or otherwise require, based on applicable law or regulations or standards of prudent ownership, any remediation, abatement, removal, clean up, monitoring or other corrective action, (iii) there exists no identifiable threat of the contamination of the Site by release of hazardous or toxic materials, substances or wastes or otherwise from existing sources adjacent to the Site, and (iv) there are no underground storage tanks at the Site.
