Environmental Matters and Inspections

Requirements

Before the Commitment DateCommitment DateDate a Commitment is confirmed by Fannie Mae per Part IV, Chapter 2: Rate Lock and Committing, Section 204: Commitments. , you must:

• Obtain an Environmental Screening of the PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). using the ASTMASTMAmerican Society for Testing Materials E-1528 protocol.
• Perform a physical site inspection of the PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). .
• Notify the Appraiser of any Recognized Environmental Condition or “non-scope considerations” that would impact the value of the PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). .
• Determine if an O&MO&MWritten plan, document, or agreement containing ongoing operating, maintenance, or monitoring actions for the Property or its Improvements. plan is appropriate to address a Recognized Environmental Condition.
• Determine if the state where the PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). is located has an environmental super-lien statute, and ensure that the PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). conditions are not likely to result in such a lien.
• Disclose any actual or suspected environmental conditions not disclosed in the ESAESAReport (either a Phase I ESA or a Phase II ESA) identifying whether a Property is subject to Recognized Environmental Conditions or Business Environmental Risks. .
• Evaluate the potential risk posed by any Recognized Environmental Conditions that could result in loss or liability to you, the BorrowerBorrowerPerson who is the obligor per the Note. , the PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). , or Fannie Mae.
• Obtain a copy of any Phase I ESAPhase I ESAEnvironmental report and site assessment performed according to the process described in current ASTM E 1527, including any report summarizing the conclusions of the assessment. that the BorrowerBorrowerPerson who is the obligor per the Note. has in its possession or can obtain.
• Determine, based on the findings of the environmental screening and analysis, whether a Phase I ESAPhase I ESAEnvironmental report and site assessment performed according to the process described in current ASTM E 1527, including any report summarizing the conclusions of the assessment. is required and, if so, contract for the report.
• When indicated, contract for a Phase II ESAPhase II ESAInvestigation performed according to current ASTM E 1903, or investigation other than a Phase I ESA, that may include analyzing soil, ground water, or building materials for contaminants, including any report summarizing the conclusions of the assessment. .
• Disclose any knowledge of actual or suspected environmental problems.