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<br /> <br />issued a building permit, and (c) a certificate of completion from Buyer and its consulting <br />engineer or other firm engaged to perform the work specified in the Approved <br />Development/Remediation Plan, to the effect that construction of any improvements and the <br />work has been completed in accordance with the Approved Development/Remediation Plan and <br />all Applicable Laws. <br /> <br />5. Buyer will maintain such engineering controls on the Property as may he required <br />by TCEQ and/or the Approved Development/Remediation Plan. <br /> <br />6. Buyer covenants, represents and warrants that Buyer's intended occupancy, <br />operation and use of the Property will be in compliance and will not violate any Applicable <br />Laws. <br /> <br />7. Buyer covenants, represents and warrants that the use, operation and occupancy <br />of the Property will comply with the restrictive covenants (herein, as from time to time amended, <br />supplemented or restated, called the "Restrictive Covenants") set forth in the Deed, reference to <br />which is hereby made for all purposes. <br /> <br />8. Buyer will establish and maintain at an address in Harris County, or at such other <br />location acceptable to Harris County, a complete set of books, accounts, records, plans, test <br />results and files concerning the Approved DevelopmentfRemediation Plan. During normal <br />business hours and upon at least one (1) business day advance written notice, Harris County and <br />its auditors, accountants, engineers and other representatives shall have the right to examine, <br />review, audit and, at its expense, copy such books, records and test results of Buyer as Harris <br />County deems reasonably necessary for Harris County to ascertain that Buyer is in compliance <br />with the term of this Agreement. <br /> <br />9. In order to assure (i) preparation and submission of the Development/Remediation <br />Plan, (ii) implementation of the Approved Development/Remediation Plan, (iii) payment of costs <br />and expenses reflected. in the Cost Estimate, (iv) any post closure care specified in the Approved <br />Development/Remediation Plan, and (v) Buyer's compliance with the Restrictive Covenants and <br />the terms and conditions of this Agreement, Buyer and any subsequent owner of the Property <br />shall at all times maintain an irrevocable standby letter of credit (the "Letter of Credit") issued in <br />favor of Harris County. The Letter of Credit will be issued by a bank acceptable to Harris <br />County. The bank must have deposits insured by the Federal Deposit Insurance Corporation and <br />must maintain a banking house in Harris County, Texas. The Letter of Credit will have a stated <br />amount of no less than One Million Dollars ($1 million U.S.) and contain an automatic renewal <br />provision. The Letter of Credit will provide that the bank will pay to Harris County upon <br />presentment of an Order issued by the Commissioners Court of Harris County declaring the <br />amount to be drawn and a statement to the effect that Buyer has defaulted under the terms of the <br />Deed, the Restrictive Covenants and/or the Environmental Agreement. The bank shall not be <br />required or entitled to inquire as to the accuracy of the matters recited in the written directive and <br />must accept a certified copy of such order issued by the County Clerk of Harris County, Texas as <br />conclusive evidence of such directive and its accuracy. The obligation of the bank under the <br />Letter of Credit shall be the individual obligation of the bank, and may not be contingent upon <br />reimbursement by any third party with respect thereto. Harris County shall not be obligated to <br /> <br />Environrnentali\greeD1ent <br /> <br />3 <br />