GROUNDWATER HAZARD STATEMENT Sample Clauses

GROUNDWATER HAZARD STATEMENT. At closing, a Groundwater Hazard Statement will be filed by the Seller(s) regarding the following items: 1. xxxxx; 2. solid waste disposal; 3. hazardous wastes; 4. underground storage tanks; 5. private burial site and 6. private sewage disposal system located on the Property. If any of these are located on the property, they are as follows:
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GROUNDWATER HAZARD STATEMENT. Sellers warrant to the best of their knowledge and belief that there are no abandoned xxxxx, solid waste disposal sites, hazardous wastes or substances, or underground storage tanks located on the Property, the Property does not contain levels of radon gas, asbestos, or urea- formaldehyde foam insulation which require remediation under current governmental standards, and Sellers have done nothing to contaminate the Property with hazardous wastes or substances. Sellers warrant that the property is not subject to any local, state, or federal judicial or administrative action, investigation or order, as the case may be, regarding xxxxx, solid waste disposal sites, hazardous wastes or substances, or underground storage tanks. Sellers shall also provide Purchasers with a properly executed Groundwater Hazard Statement showing no xxxxx, solid waste disposal sites, hazardous wastes and underground storage tanks on the Property.
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GROUNDWATER HAZARD STATEMENT. At closing, a Groundwater Hazard Statement will be filed by the Seller(s) regarding the following items: 1. xxxxx; 2. solid waste disposal; 3. hazardous wastes; 4. underground storage tanks; 5. private burial site and 6. private sewage disposal system located on the Property. If any of these are located on the property, they are as follows: NONE. Brokers, their Agents, Employees and Associates shall not be responsible for any hazardous materials which may be found on this property which have not been disclosed by the Seller(s) or any other parties in interest and are not required to give advice on matters outside the scope of their real estate license. DRAFT: Non-Executable
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GROUNDWATER HAZARD STATEMENT. At closing, a Groundwater Hazard Statement will be filed by the Seller(s) regarding the following items: 1. xxxxx; 2. solid waste disposal; 3. hazardous wastes; 4. underground storage tanks; 5. private burial site and 6. private sewage disposal system located on the Property. If any of these are located on the property, they are as follows: WELL AND SEPTIC. SELLER IS A TRUST AND IS EXEMPT FROM THE TIME OF TRANSFER REQUIREMENT. Brokers, their Agents, Employees and Associates shall not be responsible for any hazardous materials which may be found on this property which have not been disclosed by the Seller(s) or any other parties in interest and are not required to give advice on matters outside the scope of their real estate license. DRAFT: Non-Executable
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GROUNDWATER HAZARD STATEMENT. Iowa Code section 558.69 requires submission of a groundwater hazard statement and notice if "hazardous waste" exists on the property as defined in Iowa Code sub-sections 455B.411(3), 455B.412(2) or section 455B.464. If hazardous waste is present, the groundwater hazard statement must state that the condition is being managed in accordance with Department rules. The signatories and all subsequent transferees required to submit a groundwater hazard statement under Iowa Code section 558.69 shall make reference to this environmental covenant in substantially the following form: THE INTEREST CONVEYED IS SUBJECT TO AN ENVIRONMENTAL COVENANT, DATED , 20_ , RECORDED IN THE DEED OR OFFICIAL RECORDS OF THE COUNTY RECORDER ON , 20 , IN [DOCUMENT , or BOOK , PAGE , or by parcel number ]. THE ENVIRONMENTAL COVENANT CONTAINS THE FOLLOWING ACTIVITY AND USE LIMITATIONS: [Insert
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Related to GROUNDWATER HAZARD STATEMENT

  • Environmental Conditions A Phase I environmental site assessment (or update of a previous Phase I and or Phase II environmental site assessment) and, with respect to certain Mortgage Loans, a Phase II environmental site assessment (collectively, an “ESA”) meeting ASTM requirements conducted by a reputable environmental consultant in connection with such Mortgage Loan within 12 months prior to its origination date (or an update of a previous ESA was prepared), and such ESA (i) did not identify the existence of recognized environmental conditions (as such term is defined in ASTM E1527-13 or its successor, hereinafter “Environmental Condition”) at the related Mortgaged Property or the need for further investigation, or (ii) if the existence of an Environmental Condition or need for further investigation was indicated in any such ESA, then at least one of the following statements is true: (A) an amount reasonably estimated by a reputable environmental consultant to be sufficient to cover the estimated cost to cure any material noncompliance with applicable Environmental Laws or the Environmental Condition has been escrowed by the related Mortgagor and is held or controlled by the related Mortgagee; (B) if the only Environmental Condition relates to the presence of asbestos-containing materials, radon in indoor air, lead based paint or lead in drinking water, the only recommended action in the ESA is the institution of such a plan, an operations or maintenance plan has been required to be instituted by the related Mortgagor that can reasonably be expected to mitigate the identified risk; (C) the Environmental Condition identified in the related environmental report was remediated or abated in all material respects prior to the date hereof, and, if and as appropriate, a no further action or closure letter was obtained from the applicable governmental regulatory authority (or the environmental issue affecting the related Mortgaged Property was otherwise listed by such governmental authority as “closed” or a reputable environmental consultant has concluded that no further action is required); (D) an environmental policy or a lender’s pollution legal liability insurance policy that covers liability for the identified circumstance or condition was obtained from an insurer rated no less than “A-” (or the equivalent) by Xxxxx’x Investors Service, Inc., S&P Global Ratings, acting through Standard & Poor’s Financial Services LLC, Fitch Ratings, Inc. and/or A.M. Best Company; (E) a party not related to the Mortgagor was identified as the responsible party for such condition or circumstance and such responsible party has financial resources reasonably estimated to be adequate to address the situation; or (F) a party related to the Mortgagor having financial resources reasonably estimated to be adequate to address the situation is required to take action. To the Mortgage Loan Seller’s knowledge, except as set forth in the ESA, there is no Environmental Condition (as such term is defined in ASTM E1527-13 or its successor) at the related Mortgaged Property.

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