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EXECUTIVE SUMMARY <br /> Dames & Moore was retained by Fremont Investment & Loan to conduct a Phase I <br /> Environmental Assessment of the light industrial park located at 15,700 McKinley Avenue,Lathrop, <br /> San Joaquin County, California (subject property). This Phase I Environmental Assessment was <br /> conducted by Dames & Moore and was performed consistent with the methods and procedures <br /> described in the American Society for Testing and Materials (ASTM) "Standard Practice for <br /> Environmental Site Assessments: Phase I Environmental Site Assessment Process" (Standard <br /> Designation E 1527-97), published June, 1997. The objective of Dames & Moore's Phase I <br /> Environmental Site Assessment was to determine the potential for a Recognized Environmental <br /> Condition to exist on the subject property from onsite or offsite activities. <br /> The subject property consists of a 65-acre parcel developed with eight metal frame <br /> warehouse-type buildings, vacant graded land, concrete and asphalt-paved parking areas, a <br /> stormwater runoff pond, a truck wash area,and some landscaped areas. Development of the subject <br /> property reportedly began in 1981. <br /> Dames&Moore reviewed information on the historical development of the subject property. <br /> Items that were reviewed during this task included historical aerial photographs, topographic maps, <br /> and previous site investigation reports. Dames&Moore obtained and reviewed federal and state <br /> i <br /> environmental regulatory agency information regarding identified areas of environmental concern <br /> in the vicinity of the subject property. Dames & Moore interviewed the property owner and a <br /> representative from each of the tenants. Dames&Moore also conducted a visual site inspection with <br /> a specific focus on storage and handling of hazardous materials and evidence for environmental <br /> impacts such as stained or stressed vegetation. Special attention was given to the potential presence <br /> of underground storage tanks (USTs) and electrical transformers containing polychlorinated <br /> biphenyls (PCBs). A windshield reconnaissance of surrounding properties was also conducted. <br /> Based on review of the previous environmental reports, a Recognized Environmental <br /> Condition exists on the subject property. Soil surrounding a clarifier associated with the truck wash <br /> pad has been impacted by total petroleum hydrocarbons (TPH) as gasoline and diesel and <br /> tetrachloroethene(PCE). The total impacted area appears to be less than 25 cubic yards and extends <br /> less than ten feet deep. Groundwater was not encountered up to ten feet in the 1997 soil sampling <br /> investigation. Because the truck wash drain that flows into the clarifier was backed up during our <br /> site visit,and similar observations were noted in each of the previous consultant reports,the clarifier <br /> is either full or not operating properly,although it is currently not in use.The contents of the clarifier <br /> should be emptied by a licensed waste hauler for disposal. The condition of the clarifier and <br /> evaporation pit should be evaluated if future use is planned. If the system will not be utilized, it <br /> should be closed appropriately. <br /> R:WM981CM.013 ES-1 <br /> IDAMES&MOORE <br />