504.03

Environmental Indemnity Agreement

Requirements

You must:

  • consider revisions to the Environmental Indemnity Agreement (Form 6085) to protect you and Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! from liability associated with any
    • REC/CREC (including the cost to investigate/remediate any such condition), and
    • violation of Environmental Laws Environmental LawsAll current federal, state, and local laws, ordinances, regulations, standards, rules, policies, and other governmental requirements, administrative rulings, court judgments, and decrees, and all amendments thereto, relating to pollution or protection of human health, wildlife, wetlands, natural… by the Borrower BorrowerPerson who is the obligor per the Note. ; 
  • document your evaluation of potential revisions, including at a minimum, whether the following revisions are appropriate:
    • additional representation and warranty where the Borrower BorrowerPerson who is the obligor per the Note. disclaims responsibility for any REC/CREC, if appropriate and accurate; and
    • additional covenant(s) requiring
      • implementation of the Remediation Plan,
      • compliance with any Environmental Activity and Use Limitations Environmental Activity and Use LimitationsLegal or physical restrictions or limitations on the use of, or access to, all or any portion of a site, facility, groundwater, soils, or other media at, on, about or under a site or facility to reduce or eliminate potential exposure to Hazardous Materials or to prevent activities that could… and/or institutional or engineering controls, and
      • maintenance of Borrower BorrowerPerson who is the obligor per the Note. eligibility for applicable liability protection status;
  • specifically identifying any liability associated with the REC/CREC in the indemnification provisions; and
  • other required terms and conditions based on Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! environmental counsel review.