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H\\IJKIO 14/98 <br />would indicate the possible existence of Hazardous Substances on <br />the Reservoir Site, HWD shall be responsible for whatever actions <br />are necessary, at its sole cost and expense, to remediate, remove or <br />otherwise clean the Reservoir Site as required by local, state and <br />federal law <br />HSD assumes no obligation for the remediation, removal or clean <br />up of any Hazardous Substances existing on the Reservoir Site, <br />unless HSD agrees to do so in writing subsequent to the execution <br />of this Agreement HWD shall indemnify, defend and hold HSD <br />harmless from and against any and all liability, damages, and <br />penalties incurred by HSD as a result of the presence, remediation, <br />removal or other clean up of Hazardous Substances on the <br />Reservoir Site <br />15.2. Demolition Site. With the exception of the known and identified <br />Hazardous Substances identified, or reasonably suspected, in the <br />en, ironmental reports listed in Exhibit D "Enk ironmental <br />Reports in the event that HWD discovers any condition prior to <br />or during the demolition and removal of the existing buildings as <br />described in Exhibit D, that would indicate the possible existence of <br />Hazardous Substances on the Demolition Site, HWD shall <br />immediately notify HSD Upon notification, HSD shall be <br />responsible for whatever actions are necessary, at its sole cost and <br />expense, to remediate, remove or otherwise clean such newly <br />identified Hazardous Substances on the Demolition Site as <br />required by local, state and federal law, unless such matter is caused <br />by the negligence or willful misconduct of HWD <br />HWD assumes no obligation for the remediation, removal or clean <br />up of any Hazardous Substances existing on the Demolition Site as <br />described in Exhibit D, unless specified, or reasonably suspected, in <br />the Ens ironmental Reports listed in Exhibit D or unless FEW D <br />agrees to do so in writing subsequent to the execution of this <br />Agreement HSD shall indemnify, defend and hold HWD harmless <br />from and against any and all liability, damages, and penalties <br />incurred by HWD as a result of the existence of Hazardous <br />Substances on the Demolition Site in excess of the known or <br />reasonably suspected, Hazardous Substances as described in the <br />Environmental Reports listed in Exhibit D <br />The parties acknowledge that the Environmental Reports specify <br />certain Hazardous Substances which are either knob n to exist on <br />-9- <br />