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0 0 <br /> Beckman Road Page 3 of 24 <br /> Our project Number: LtS140024 <br /> September 12, 2014 <br /> Location maps and site maps of the subject property are ttached to this report as Appendix <br /> A. Photographs of the subject property are attached to thi report as Appendix B. <br /> 2.2 Current Use of the Property <br /> The approximately 3.07 acre property consists of a larg (approximately 3,000-square feet) <br /> structure with an attached 12-bay parking structure surrounded by a paved parking area in the <br /> southern portion of the site. The property is currently urimcupied. The northern three-quarters <br /> of the site consists of degraded asphalt/soil and numerous abandoned fish ponds. <br /> 2.3 Purpose <br /> Due to the concerns regarding potential liability for toxic hazards, real estate investors need to <br /> assess property before purchase to determine if current of past occupants or surrounding land <br /> uses could adversely impact property development. Performance of a Phase I Environmental <br /> Site Assessment according to ASTM Standard E1527-13 and the All Appropriate Inquiries (AAI) <br /> rule satisfies one of the requirements to qualify for landowner liability protections (LLPs) within <br /> the scope of the Comprehensive Environmental Response, Compensation and Liability Act <br /> (CERCLA). <br /> The purpose of this Phase I Environmental Site Assessmerlt is to identify to the extent feasible. <br /> pursuant to the processes prescribed by the AAI rule and in ASTM Standard E1527-13, Standard <br /> Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process, <br /> recognized environmental conditions in connection with the property. Additional investigative <br /> procedures, designed to meet the due diligence criteria specified by many lending Institutions, <br /> have been implemented as well. As defined by ASTM' E1�27-13, §1.1.1, the term "Recognized <br /> Environmental Condition (REC)" refers to: <br /> "The presence or likely presence of any hazarddus substances or petroleum <br /> products in, on, or at a property due to any release to the environment 2) under <br /> conditions Indicative of a release to the environment under conditions that pose <br /> a material threat of a future release to the environment. De minimis conditions <br /> are not recognized environmental conditions." <br /> As defined by ASTM E1527-13, §3.2.18, the term "Controlled Recognized Environmental <br /> Condition (CREC)" refers to: <br /> "A recognized environmental condition resulting frown a past release of hazardous <br /> substances or petroleum products that has been adressed to the satisfaction of <br /> the applicable regulatory authority (for example, as evidenced by the issuance of <br /> a no further action letter or equivalent, or meeting ,risk-based criteria established <br /> by regulatory authority), with hazardous substances or petroleum products <br /> allowed to remain in place subject to the implementation of required controls (for <br /> I American Society for Testing & Materials, www.astm.org <br /> "44 <br /> 02074 Neil O.Anderson&Associates.Inc <br /> A Terracon Company <br />