1804.03
Environmental Site Assessment
Requirements
A Phase I Environmental Site AssessmentPhase I Environmental Site AssessmentEnvironmental 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 not required if:
- the BorrowerBorrowerPerson who is the obligor under the Note. enters into an Environmental Indemnity Agreement (Form 6085);
- you perform an environmental database search per the Instructions for Performing a Multifamily Property Condition Assessment – Environmental Matters (Form 4251), and determine that there are no adverse conditions requiring further due diligence; and
- you confirm that the BorrowerBorrowerPerson who is the obligor under the Note. is appropriately implementing any existing O&M PlansO&M PlansWritten plan, document, or agreement containing ongoing operating, maintenance, or monitoring actions for the Property or its Improvements. for the PropertyPropertyMultifamily residential property securing the Mortgage Loan and including the land (or Leasehold interest in land), Improvements, and personal property (as defined in the Uniform Commercial Code). .