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Conditions, Agency may, within try days of such written objection, elect in writing to either rerned i ate the Environmental Condition to the extent required to satisfy Developers objection or ten min ate this Agreement a to the applicable portion of the Site but not as to any other Phase of the i to which has Closed prior to u h termination), in which case Developer shall reconvey the applicable portion of the Site to the Agency and neither party shall have an rights or obligations with respect to the other in connection with such portion of the Site. Notwithstanding the foregoing, the termination of tai i s Agreement pursuant to this Section 206.4 with respect to any Phase will not result in the termination of the Agreement with respect to an other portion of the Site already Conveyed to the Developer. The Developer acknowledges that it is aware of and familiar w i tai the provisions of Section 1 542 of the Calif6mia. Civil Code which provides as follows: A GENERAL RELEASE DOES T EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIT IN HIS FAVOR AT THE TII IE OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT W ]rFH THE IEBTOR.'� Upon the effectiveness of the release set forth in this Section 206.4, the Developer waives and relinquishes all rights and benefits which it may have under Section 1 542 of the California Civil Code. 206.5 Developer P r a utions lifter Closing. Upon the Closing of any Phase, the Developer shall take all reasonable precautions to prevent the release i n t the environment of any Hazardous Mater al in violation of law which are located i n, on or under the portion of the Site associated with such Phase. Such precautions shall include compliance with all Governmental Requirements wi th respect to Hazardous ateri al . In addition, the Developer shall install and utilize such equipment are d implement and adhere to such prose du r ,s as are consistent with commercially reasonable standards as respects the disclosure, storage, use, removal and disposal of Hazardous Materials. 206. 6 Requi r d Disclosures lifter Closing. After the Closing of any Phase, the Developer shall notify the Agency, and provide to the Agency a copy or copies, of all environmental permits, disclosures, applications, entitlements or iriguiries relating to the portion of the Site included w i thin such Phase, including no ti of violation, notices to comply, citations, inquiries, clean-up or abatement orders, cease and desist orders, reports filed pursuant to self-reporting requirements and reports filed or applications made pursuant to any Govern mental Requirement relating to Hazardous Ia teri als and underground tan s . After the Closing with respect to any Phase, the Developer shall report to the Agency, as soon as possible after each incident, any unusual or potentially important incidents with respect to the Environmental Condition of the portion of the Site included within such Phase. Auer the Closing of any Phase, the event of a release of any Hazardous Materials into the environment in violation of law on such Phase, the Developer shall, as soon as possible after the release, furnish to the Agency a copy of any and all reports relating thereto and copies D DC s0 14 0067 3v 14120027 2-000 1