Environmental Exposures and Lender Concerns

ASTM Phase I ESA Standard Recognized Environmental Conditions (RECs): Presence or likely presence of a hazardous substance or petroleum products, Under conditions that indicate an existing release, a past release, or a material threat of a release, into structures on the property or into the ground, groundwater, or surface water. Does not include de minimis conditions that do not present a risk of harm to public health or environment and that would not be subject of an enforcement action. 30

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