1804.01
Environmental Site Assessment
Requirements
A Phase I Environmental Site AssessmentPhase I Environmental Site AssessmentEnvironmental Site Assessment conducted per the current ASTM E-1527 standard and the resulting report. is not required if:
- an Environmental Professional performs an environmental database review and identifies no
- potential environmental concerns (as defined in ASTMASTMAmerican Society for Testing Materials E1528 - Standard Practice for Limited Environmental Due Diligence: Transaction Screen), or
- adverse conditions requiring further due diligence;
- the BorrowerBorrowerPerson who is the obligor per the Note. enters into an Environmental Indemnity Agreement (Form 6085); and
- you confirm that the BorrowerBorrowerPerson who is the obligor per the Note. is appropriately implementing any existing O&M PlansO&M PlansRequired plan for remediating a Recognized Environmental Condition or Business Enivronmental Risk as described in Environmental Due Diligence Requirements (Form 4251). for 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). .