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EXHIBIT 2 <br /> (b) Without limiting City's approval of a Senior Loan, any loan from an entity <br /> that owns, controls, or affiliated with Grantee is subject to the following: <br /> (i) The interest rate shall not exceed the Wall Street Journal Prime <br /> (WSJ) Rate in effect at the time of Grantee's agreement to such interest rate. <br /> I <br /> (ii) The Senior Lender may not foreclose on the Project. j <br /> (c) The City shall have the right, but not the obligation,to cure any default <br /> prior to foreclosure on the Project. The City shall have at least ninety(90) days to cure, plus <br /> such additional time as may be reasonably necessary to cure, for a period of not more than one <br /> hundred eighty(180) days,provided that City is diligently pursuing a cure of the default. J <br /> a <br /> (d) City shall have the right to notice of any default. <br /> I <br /> (e) Grantee covenants and warrants that it shall be responsible for all <br /> operating losses on the Project during the term of the Regulatory Agreement. <br /> 10. ENVIRONMENTAL MATTERS <br /> i <br /> 10.1 Representation and Warran . Except as disclosed in writing to the City, <br /> Grantee represents that it has no knowledge: (a) of the presence on, under or about the Property, <br /> now or in the past, of any Hazardous Materials, or of the transportation to or from the Property <br /> of any Hazardous Materials; (b) that asbestos or polychlorinated biphenyls (PCBs) are <br /> contained in or stored on the Property; or, (c)that there are any underground storage tanks <br /> located in, on or under the Property. <br /> 10.2 Com fiance with Environmental Laws. Grantee shall. (a) comply with all <br /> environmental laws and environmental permits applicable to the construction of the Property; (b) <br /> immediately pay or cause to be paid all costs and expenses incurred by reason of such <br /> compliance; (c)keep the Property free and clear of any environmental claims or liens imposed <br /> pursuant to any environmental law; and, (d) obtain and renew all environmental permits <br /> required for ownership or use of the Property. <br /> 10.3 rational Environmental Protection Act Mitigation Measures. Grantee agrees <br /> and acknowledges that this Agreement is subject to compliance with the tribal consultation <br /> process completed in accordance with the National Environmental Protection Act("NEPA"). <br /> Grantee shall comply with the mitigation measures resulting from the NEPA Environmental <br /> Assessment and the tribal consultation completed for the Project, and any and all related <br /> regulatory requirements arising from the National Environmental Protection Act. Grantee. <br /> warrants and covenants that all activities and work on the Property and the Project shall comply <br /> with the NEPA Mitigation Measures attached hereto as Exhibit G and incorporated herein by <br /> reference. <br /> 10.4 Presence of Hazardous Materials. Grantee shall not, and shall not permit i <br /> anyone else to, generate, use, treat, store, handle,release, or dispose of Hazardous Materials on <br /> the Property, or transport or permit the transportation of Hazardous Materials to or from the <br /> Property, except for de minimis quantities used at the Property in compliance with all applicable <br /> i <br />