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M C-1 M 3.8. ADTUSTMENT OF PURCHASE PRICE. upon DSL's approval of the final survey required by paragraph 5., the DSL .hall, if necessary, return to the DSL contract appraisers for a final determination of the DSL Approved Value of the property. if the. DSL Approved Value of the Property has changed as a result of the final DSL approved survey required by paragraph 5., the Purchase Price will be adjusted to equal the final DSL Approved value of the property provided, however, in no event will the final. adjusted Purchase Price exceed $605,000, even though this amount may be less than the final DSL Approved Value of the Property. 4.A. ENVIgONMENTAL SITE ASSESSMENT. Seller shall, at his sole cost and expense and at least 15 days prior to the option Expiration Date, furnish to DST an environmental site assessment of the Property which meets the standards and requirements of DSL. It is Seller's responsibility to ensure that the environmental consultant contacts DSL regarding these standards and requirements. Seller shall use the services of a competent, [professional consultant with expertise in the environmental site assessment process to determine the existence and extent, if any, of Hazardous; Materials on the Property. For purposes of this Agreement "Hazardous Materials" shall mean any hazardous or toric substance, material or waste of any kind or any other substance which is regulated by any Environmental Law Ras hereinafter defined in paragraph 4.B.?. The environmental site assessment shall be certified to Purchaser and the date of certification shall be within 45 days before the date of closing, unless this 45 day time period is waived by DSL. Purchaser shall reimburse Seller for 505 of the DSL approved cost of environmental site assessment, upon Seller's submission of the necessary documentation to DSL which evidences payment in full of the environmental site assessment costs by Seller. This reimbursement is contingent upon (i) a sale of the Property to Purchaser and (ii) acceptance of the environmental site assessment by DSL. In the event the environmental site assessment provided by the Seller does not meet the standards and requirements of DSL, the Purchaser may provide the environmental site assessment, at Purchaser's expense, and Seller shall reimburse Purchaser for S0% of the DSL approved cost of the environmental site assessment provided by Purchaser,. and Seller shall not be entitled to a credit or off -set for any of the cost of the original environmental site assessment provided by the Seller. The terms and conditions of this paragraph shall control over any inconsistent provisions contained in the existing Multi -Party Agreement affecting the Property. 4.8. HAZARDOUS MATERIALS. in the event that the environmental site assessment provided for in paragraph 4.A. confirms the presence of Hazardous Materials on the Property, either party, at its sole option, may elect to terminate this Agreement and neither party shall have any further obligations under this Agreement. Should neither party elect to terminate this Agreement, Seller shall, at his sole cost and expense and prior to the exercise of the option and closing, promptly commence and diligently pursue any assessment, clean up and monitoring of the Property necessary to bring the Property into full compliance with any and all applicable federal, state or local laws, statutes, ordinances, rules, regulations or other governmental restrictions regulating, relating to, or imposing liability or standards of conduct concerning Hazardous Materials (,,Environmental Law"1. In the event that Hazardous Materials placed on the 08/04/00 10:38AM SHRTFRM.GH Page 2