644 Lorimer Street

644 Lorimer Street BROOKLYN, NEW YORK

Phase I Environmental Assessment

AKRF Project Number: 11817

Prepared for:

Paul Apostolakis Synapse Capital

14 West 23rd Street, 4th Floor New York, NY 10110

Prepared by:

AKRF, Inc. 440 Park Avenue South New York, NY 10016

212-696-0670

SEPTEMBER 2014

Environmental and Planning Consultants

440 Park Avenue South 7th Floor New York, NY 10016 tel: 212 696-0670 fax: 212 213-3191 www.akrf.com

September 30, 2014

Mr. Paul Apostolakis Synapse Capital 14 West 23rd Street, 4th Floor New York, NY 10110 Re: Phase I Environmental Site Assessment

644 Lorimer Street Brooklyn, New York AKRF Project Number 11817

Dear Mr. Apostolakis

AKRF, Inc. is pleased to submit this Phase I Environmental Site Assessment Report for the above-referenced Property. This report includes the findings of a reconnaissance of the Property, an evaluation of readily available historical information and selected environmental databases and electronic records. AKRF, Inc. met the requirements of American Society for Testing and Materials (ASTM) as established by ASTM Standard E1527-13 unless noted otherwise in Section 8.0: Limitations and Data Gaps.

We appreciate the opportunity to provide you with our services. If you should have any questions, please do not hesitate to contact us.

Sincerely, AKRF, Inc.

Michelle Lapin. P.E. Senior Vice President

Deborah Shapiro, QEP Technical Director

AKRF, Inc. 644 Lorimer Street Brooklyn, New York

Phase I Environmental Site Assessment i September 2014

EXECUTIVE SUMMARY

AKRF, Inc. (AKRF) was retained by Synapse Capital to perform a Phase I Environmental Site Assessment (ESA) of a Property located at 644 Lorimer Street (also identified as Brooklyn Tax Block 2742, Lot 1), consisting of a parcel of approximately 2,500 square feet.

This Phase I Environmental Site Assessment was performed in conformance with ASTM Standard E1527-13, Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Practice. Any exceptions to, or deletions from, the Standard are described in Section 8.0. The term Recognized Environmental Condition or REC means the presence or likely presence of any hazardous substances or petroleum products in, on, or at a property: (1) due to any release to the environment; (2) under conditions indicative of a release to the environment; or (3) under conditions that pose a material threat of a future release to the environment. The Standard also includes definitions of Historic REC (HREC), Controlled REC (CREC), and De Minimis Condition. A De Minimis Condition is defined as an environmental concern that is not a threat to human health or the environment and would not be subject to an enforcement action.

At the time of AKRFs reconnaissance, the Property included a three-story (plus basement) residential building constructed in 1928, a concrete rear yard, and a detached three-car garage. The Williamsburg Car Wash and Detail Center was located north-adjacent to the Property and a one-story warehouse was located east-adjacent to the Property. The remainder of the block was occupied by single- and multi-level residences. The surrounding blocks were occupied by primarily low-rise residential and commercial structures. Additional industrial buildings were observed on the northeastern corner of the block. Residential and commercial/retail properties were located to the south across Jackson Street. A small public park was located to the west across Lorimer Street. Historical fire insurance maps indicated that the Property was historically occupied by a one-story building constructed prior to 1887.

This assessment revealed the following:

RECs

According to historic records, the northadjacent property (646 Lorimer Street) contained a gasoline station in the past. In addition, New York State Department of Environmental Conservation (NYSDEC) Spill #1308237 is associated with 646 Lorimer Street for soil and groundwater contamination discovered during a Phase II investigation. Based on the nature of the spill and its location, there is a potential for this spill to have affected the Property.

According to the New York City Department of Building (NYCDOB) and New York City Department of Environmental Protection (NYCDEP) records, the building was heated with a fuel oil-fired boiler circa 1962. No information regarding the status of the associated tank was included in the records. Any associated petroleum storage tank(s) may have been removed, or may remain beneath the Property. No evidence of petroleum storage tank(s) were observed during site reconnaissance. Leaks from any historical on-site petroleum storage tanks constitute a REC.

The surrounding area was mixed-use and included the Williamsburg Hand Car Wash & Detail Center, residences, and a warehouse. According to historic records, the surrounding area was historically mixed-use and included: stores, dwellings, a lead refinery, a cooperage, a tannery, a bottle dealer, a cooper shop, Schiff & Co. Fur Dying and Cleaning, Diener & Co. Furniture Manufacturing and Storage, a wagon house, a dress maker, an iron works, a factory, a scrap metal facility, a lumber yard, a plumbing storage building, an auto repair shop, and a sugar warehouse. Several petroleum bulk storage (PBS) facilities were located in close proximity to the Property. These past and present surrounding property uses constitute a REC.


Phase I Environmental Site Assessment ii September 2014

Other On-site Environmental Concerns (items outside the scope of E1527-13 like ACM, LBP and/or PCBs in Building Materials or Fill/Debris)

Suspect ACM observed during the reconnaissance included: roofing materials, flooring materials, pipe and pipe fitting insulation, window and door caulk, and exterior shingles. Some suspect ACM exterior shingles were noted to be damaged during site reconnaissance.

Painted surfaces observed in the common areas of the structure and the one accessible residential unit was noted to be in moderate to good condition. However, painted surfaces within the five of the residential units were not inspected. New York City lead-based paint requirements apply to apartments in buildings constructed prior to 1978.

Because of the age of the building, fluorescent bulbs, lighting components (e.g., capacitors) and other electrical equipment observed during the reconnaissance may contain polychlorinated biphenyls (PCBs) and/or mercury. Although their continued use does not generally present a hazard, unless there is labeling or test data which indicates that they are not mercury/PCB-containing, should disposal be required, it must be in accordance with all applicable requirements. No spills or leaks were observed during site reconnaissance.

Potential for Vapor Migration

This Phase I ESA identified a potential for subsurface vapors beneath the Property based on the open NYSDEC spill number associated with the north-adjacent property (646 Lorimer Street).


TABLE OF CONTENTS

EXECUTIVE SUMMARY ........................................................................................................................... i 1.0 Introduction ...................................................................................................................................... 1 2.0 Physical Site Description ................................................................................................................. 2

2.1 General Site Conditions ............................................................................................................... 2 2.2 Topography and Hydrogeology ................................................................................................... 2 2.3 Storage Tanks .............................................................................................................................. 3

2.3.1 Underground Storage Tanks (USTs) ....................................................................................... 3 2.3.2 Aboveground Storage Tanks (ASTs) ...................................................................................... 3

2.4 Polychlorinated Biphenyls (PCBs) .............................................................................................. 3 2.5 Lead-Based Paint ......................................................................................................................... 3 2.6 Utilities ........................................................................................................................................ 4 2.7 Waste Management and Chemical Handling .............................................................................. 4 2.8 Radon ........................................................................................................................................... 4

3.0 Asbestos-Containing Materials (ACM) ........................................................................................... 4 4.0 Adjacent Land Use ........................................................................................................................... 4 5.0 Property History and Records Review ............................................................................................. 5

5.1 Prior Ownership and Usage ......................................................................................................... 5 5.1.1 Historical Land Use maps ....................................................................................................... 5 5.1.2 Historical Aerial Photographs ................................................................................................. 6 5.1.3 Property Tax Files and Zoning Records .................................................................................. 6 5.1.4 Recorded Land Title Records .................................................................................................. 6 No copies of title records were provided to AKRF for review. ........................................................... 6 5.1.5 Local Street Directories ........................................................................................................... 6

5.2 Regulatory Review ...................................................................................................................... 7 5.2.1 Federal ..................................................................................................................................... 7 5.2.2 State ......................................................................................................................................... 8 5.2.3 Local Agency File Review .................................................................................................... 12 5.2.4 Additional Environmental Record Sources ........................................................................... 13

6.0 User-Provided Information ............................................................................................................ 14 7.0 Previous Studies ............................................................................................................................. 14 8.0 Limitations and Data Gaps ............................................................................................................. 14 9.0 Conclusions .................................................................................................................................... 16 10.0 Signature Page ............................................................................................................................... 18 11.0 Qualifications ................................................................................................................................. 19 12.0 References ...................................................................................................................................... 20

FIGURES

Figure 1 - Property Location Figure 2 - Property Detail

APPENDICES

Appendix A - Photographic Documentation Appendix B - Historical Sanborn Maps Appendix C - Regulatory Records Review Appendix D - Local Records Appendix E - City Directories


Phase I Environmental Site Assessment 1 September 2014

1.0 INTRODUCTION

AKRF, Inc. (AKRF) was retained by Synapse Capital to perform a Phase I Environmental Site Assessment (ESA) of a Property at 644 Lorimer Street (also identified as a portion of Brooklyn Tax Block 2742, Lot 1), consisting of a parcel of approximately 2,500 square feet.

At the time of AKRFs reconnaissance, the Property included a three-story residential building with a basement nconstructed in 1928, a concrete rear yard, and a detached three-car garage. The Williamsburg Car Wash and Detail Center was located north-adjacent to the Property and a one-story warehouse was located east-adjacent to the Property. The remainder of the block was occupied by single- and multi-level residences. The surrounding blocks were occupied primarily by low-rise residential and commercial structures. Additional industrial buildings were observed on the northeastern corner of the block. Residential and commercial/retail properties were located to the south across Jackson Street. A small public park was located to the west across Lorimer Street. Historical fire insurance maps indicated that the Property was historically occupied by a one-story building constructed prior to 1887.

The scope of services for this assessment was in conformance with ASTM Standard E1527-13 (Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Practice). Any exceptions to, or deletions from, this practice are described in Section 8.0. The scope included the following:

Observations of the Property (reconnaissance) to identify potential sources or indications of hazardous substances, including: aboveground storage tanks (ASTs); underground storage tanks (USTs); tank vents and fill ports; transformers and other items that could contain polychlorinated biphenyls (PCBs), drums or areas where hazardous materials were used, stored, or disposed; stained surfaces and soils; stressed vegetation, leaks, odors. In addition, neighboring properties were viewed, but only from public rights-of-way, to identify similar concerns.

Readily available geological and groundwater (hydrogeological) information was evaluated to assist in determining the potential for contamination migration (including in soil, soil vapor and/or groundwater) within, from and onto the Property.

The reconnaissance of the Property included observation of any readily visible suspect asbestos-containing materials (ACMs) and potential lead-based paint. However, no samples were collected or analyzed and this reconnaissance provides neither definitive nor exhaustive information.

A state database of county-level radon concentrations was used to determine typical indoor radon levels and compare them to United States Environmental Protection Agency (USEPA) guidelines.

Historical fire insurance maps for the Property and nearby sites were reviewed to evaluate historical land uses.

The following federal regulatory databases were reviewed to determine the regulatory status of the Property and other properties within the ASTM-defined radii: National Priority List (NPL); Comprehensive Environmental Response, Compensation, and Liability Information System (CERCLIS); Emergency Response Notification System (ERNS); Toxic Release Inventory System (TRIS); the Permit Compliance System of Toxic Wastewater Discharges (WWD); the Air Discharge Facilities Index (ADF) and the USEPA Civil Enforcement Docket. The federal listing of facilities which are subject to corrective action under the Resource Conservation and Recovery Act (CORRACTS) is discussed with the State databases of RCRA listings.



The following state regulatory databases were reviewed to determine the regulatory status of the Property and other properties within predetermined radii: petroleum and hazardous material spills (SPILLS); Resource Conservation and Recovery Act Notifiers (RCRA); Chemical Bulk Storage (CBS); Solid Waste Facilities (SWF); Petroleum Bulk Storage (PBS); State Inactive Hazardous Waste Disposal Sites (SHWS); Hazardous Substance Disposal Site Draft Study; Hazardous Waste Treatment, Storage or Disposal Facilities; Major Oil Storage Facilities (MOSF); Brownfield Cleanup Program (BCP); and Historic Utility Sites.

Local agency reviews including NYC Fire Department records (obtained as part of the database search), online Buildings and Finance Departments records, and Environmental Quality Review (CEQR) E Designation Sites were conducted for the Property only.

2.0 PHYSICAL SITE DESCRIPTION

On September 18, 2014, Mr. Kevin Hennigan of AKRF conducted a reconnaissance of the Property accompanied by Mr. Paul Apostolakis of Synapse Capital, and Mr. Anthony Jancovic, the building superintendent, who has lived at the Property for 20 years and answered pertinent questions. Five of the six apartments and one of the three garages were inaccessible at the time of the site visit. Neighboring properties were also viewed, but only from public rights-of-way. The weather was sunny and approximately 70 F, the visibility good/moderate, and the premises adequately illuminated. Photographs from the reconnaissance are included in Appendix A.

2.1 General Site Conditions

The Property consisted of a three-story brick and wood residential building with a basement, a concrete rear yard, and a detached three-car garage. The building contained six apartments; two on each floor, all accessed by stairs. All units were occupied during the time of our inspection; only one was available for inspection. Interior building materials consisted of wood and vinyl tile flooring, plaster and sheetrock walls and ceiling, and fluorescent lighting.

The basement was divided into two by a brick wall. Each basement was accessed via separate entrances; one from Jackson Street and the other from the interior staircase. The western basement contained a gas-fired boiler and two hot water heaters. Chemicals observed in the basement on shelves included paint, stains, thinners, etc. No floor drains, sumps, or floor stains were observed in the basement.

The roof was covered by bituminous rolled roofing material. According to Mr. Jancovic, the roof was 12 years old. The roof appeared flat and sloped slightly from the west to the east. No roof drains were observed.

The rear yard and detached garage were accessed from Jackson Street. A stormwater drain was observed in the rear yard. According to Mr. Anthony Jancovic, the drain is connected to the municipal sewer. The garages were used for storage. No areas of staining were observed.

2.2 Topography and Hydrogeology

Surface topography is generally level. Based on reports compiled by the U.S. Geological Survey (Brooklyn Quadrangle), the Property lies at an elevation of approximately 20 to 30 feet above the National Geodetic Vertical Datum of 1929 (an approximation of sea level).

Based on regional maps, groundwater is estimated to be approximately 12 feet below grade. Based upon a review of topographical data and the site reconnaissance, groundwater is assumed



to flow in a westerly direction toward the East River, located approximately one mile west of the Property. However, actual groundwater flow at the Property can be affected by many factors including past filling activities, underground utilities, and other subsurface openings or obstructions such as basements and other factors beyond the scope of this study.

There are no surface water bodies or streams on or immediately adjacent to the Property.

2.3 Storage Tanks

2.3.1 Underground Storage Tanks (USTs)

During the reconnaissance, no evidence, such as vent pipes, fill caps, or concrete patches, was observed that would indicate USTs are or were present. Additionally, the review of regulatory databases, and the NYC Fire and Building Department records reviewed did not reveal any records relating to USTs. Off-site USTs are discussed in Section 5.2.2.

2.3.2 Aboveground Storage Tanks (ASTs)

During the reconnaissance, no evidence, such as tanks or vaults likely to contain tanks, vent pipes or fill caps was observed during the reconnaissance to indicate that ASTs are or was present. Additionally, the review of regulatory databases, and the NYC Fire and Building Department records reviewed did not reveal any records relating to ASTs. Off-site ASTs are discussed in Section 5.2.2.

2.4 Polychlorinated Biphenyls (PCBs)

Until 1979, polychlorinated biphenyls (PCBs), which provided beneficial insulating properties, were used in a variety of products, in particular electrical equipment such as transformers, capacitors, fluorescent light fixtures, and voltage regulators, but also in hydraulic fluids and some other products such as caulking.

Based on the buildings age, fluorescent lighting fixtures and electrical equipment may contain PCBs. No evidence of leaks or stains from these fixtures was observed.

2.5 Lead-Based Paint

Lead-based paint was generally not used inside residential buildings after 1960 in NYC or after 1977 nationwide. After 1977, its use inside commercial structures was also restricted and its use elsewhere became less common, but lead-based paint may still sometimes be used outdoors. Lead-based paint can present a hazard, particularly to children, especially when it is in poor condition.

Painted surfaces observed in the common areas of the building and the one accessible residential unit were noted to be generally in good condition. However, painted surfaces within the residential units were not inspected. In New York City, residential units are subject to a variety of notification, inspection/investigation and remediation requirements. There are also federal requirements including requirements relating to disclosure, inspections, risk assessments, and abatement. Based on age of building, painted surfaces may contain lead-based paint.

Activities (such as renovation or demolition) with the potential to disturb lead-based paint are subject to a variety of requirements, including US Occupational Safety and Health Administration regulation 29 CFR 1926.62 (Lead Exposure in Construction).



2.6 Utilities

Consolidated Edison (Con Ed)/National Grid Brooklyn provided natural gas and electricity to the Property and surrounding area. The Property was reportedly connected to the municipal water and sewer systems.

2.7 Waste Management and Chemical Handling

According to Mr. Jancovic, general refuse was collected by the NYC Department of Sanitation. No evidence of hazardous waste storage or generation was observed on the Property.

2.8 Radon

Radon is a colorless, odorless gas most commonly produced by the natural radioactive decay of certain rocks. According to a New York State Department of Health database, the average level of radon found in basements in Brooklyn is 1.58 picocuries/liter, below the USEPA recommended action level of 4.0 picocuries/liter.

3.0 ASBESTOS-CONTAINING MATERIALS (ACM)

Asbestos refers to a group of natural minerals that provide good fire resistance and insulation. Asbestos is also commonly found in vinyl flooring, plaster, sheetrock, joint compound, ceiling tiles, roofing materials, gaskets, mastics, caulks and other products. Materials containing more than one percent asbestos are considered asbestos-containing materials (ACM). ACM are classified as either friable (i.e., more readily release fibers, such as most spray-applied fireproofing) or non-friable (such as floor tiles).

Suspect ACM were observed during the reconnaissance and included roofing and flooring materials, pipe and pipe fitting insulation, spray-applied fireproofing, plaster and sheetrock, all noted to be in fair condition. Suspect ACM exterior shingles were observed to be in poor condition. ACM may also be present in other locations not readily accessible during the reconnaissance. Buried structures (e.g., utility conduits) and the historical fill material could include ACM. This reconnaissance did not constitute and cannot substitute for an asbestos survey which is includes comprehensive inspection and material sampling with laboratory testing.

Regulatory requirements for ACM (or suspect ACM until proven not to be ACM) include maintenance requirements and, prior to any renovation or demolition, inspection/sampling by a NYC-certified asbestos investigator (NYS-certified asbestos inspector if outside of NYC) to determine if the project will disturb ACM. Any such ACM (and any other ACM subsequently identified) must be removed prior to the renovation or demolition.

4.0 ADJACENT LAND USE

Williamsburg Car Wash and Detail Center was located north-adjacent to the Property and a one-story warehouse was located east-adjacent to the Property. Additional industrial buildings were observed on the northeastern corner of the block. The remainder of the block was occupied by single- and multi-level residences. The surrounding blocks were occupied primarily by low-rise residential and commercial structures.



5.0 PROPERTY HISTORY AND RECORDS REVIEW

5.1 Prior Ownership and Usage

5.1.1 Historical Land Use maps

Historical maps were reviewed for indications of uses (or other evidence) suggesting hazardous materials generation, usage or disposal on or near the Property. Specifically, Sanborn Fire Insurance Maps from 1887, 1905, 1916, 1942, 1951, 1965, 1978-1983, 1986-1989, 1991-1993, 1995-1996, and 2001-2007 were reviewed.

1887

The Property contained a one-story building with a storefront and cellar.

The north-adjacent property was developed with part of a two-story store, two 2-story dwellings, and two sheds. The area surrounding the Property was occupied by a lead refinery, a cooperage, a tannery, stores, and dwellings.

1905

The on-site one-story building was replaced by a three-story building with a storefront and basement.

The north-adjacent properties were occupied by multi-story dwellings, a one-story carriage house, and a one-story structure labeled bottles. The area surrounding the Property was occupied by a bottle dealer, a cooper shop, Schiff & Co. Fur Dying and Cleaning, stores, and dwellings.

1916

The Property remained unchanged from the 1905 map.

The area surrounding the Property was occupied by a bottle dealer, a cooper shop, Schiff & Co. Fur Dying and Dressing, Diener & Co. Furniture Manufacturing and Storage, a wagon house, a dress maker, stores, and dwellings.

1942

The Old Rubber Tire store appears in the unattached garages on site.

The north-adjacent property was developed with two 2-story stores and an automobile garage for 35 cars with one 550-gallon gasoline UST. A scrap metal yard was located on the east-adjacent property. The area surrounding the Property was occupied by a factory, a gasoline filling station, a lumber yard, a dye and storage building, an auto repair shop, iron works, a plumbing storage building, stores, and dwellings.

1951

The on-site tire store was replaced by a private garage. No other changes were noted from the 1942 map.

The north-adjacent property was developed with an automobile garage with one 550-gallon gasoline UST. A factory was located east-adjacent to the Property where a scrap yard had been on the 1942 map. Auto garages, storage buildings,



stores, and dwellings were shown surrounding the Property. The Brooklyn Queens Expressway was shown adjacent to Meeker Avenue, north of the Property.

1965

The Property remained unchanged from the 1951 map.

The east-adjacent property was changed from a scrap metal yard to a sugar warehouse. The north-adjacent property was developed with an automobile station with one 550-gallon gasoline UST and a one-story shed. The area surrounding the Property was depicted with iron works, stores, and dwellings. The Brooklyn Queens Expressway was located adjacent to Meeker Avenue, north of the Property.

1978-2007

The Property and the surrounding area remained unchanged from the 1965 map.

To summarize, historical maps indicated that the Property was originally developed with a one-story building from sometime before 1887 to sometime before 1905. The current three-story residential structure was developed prior to 1905 and the three-car garage was developed sometime between 1942 and 1951. A tire shop was located on the eastern portion of the Property from approximately 1942 to 1951. Residential, commercial, auto garages, a warehouse, parking lots and storage yards occupied the surrounding properties since 1916.

5.1.2 Historical Aerial Photographs

Since historical fire insurance maps were available for the Property (and surrounding area) and these maps included information relating to land use, aerial photographs would, most likely, not provide additional useful information relevant to the potential for recognized environmental conditions or other environmental concerns. As such, aerial photographs were not reviewed.

5.1.3 Property Tax Files and Zoning Records

Based on information provided by NYC Building Department and interviews, the Property is zoned as R6 (general residence)/ M1-2 (light manufacturing high performance) and the on-site building was constructed in 1928.

5.1.4 Recorded Land Title Records

No copies of title records were provided to AKRF for review.

5.1.5 Local Street Directories

A City Directory prepared by Environmental Data Resource, Inc. was reviewed as part of this Phase I ESA. The City Directory consisted of the names of businesses located on-site and in adjacent properties, compiled from city and reverse telephone directories at approximately five-year intervals starting in 1920.

A review of the names of on-site listings indicated that the Property was residential from 1965 to present, and was occupied by Ralph Check Cashing Corporation from 1965 to 1996 and by Lorimer Ladies and Gents Wearing Apparel in 1949.



5.2 Regulatory Review

The regulatory database listings, shown in Appendix B, were obtained from Toxics Targeting, Inc. of Ithaca, New York. It includes summaries of the databases searched, their radii around the Property and limitations of the data. The databases searched and associated radii were consistent with ASTM E1527-13.

5.2.1 Federal

Databases searched included the National Priority List (NPL); Comprehensive Environmental Response, Compensation, and Liability Information System (CERCLIS); Emergency Response Notification System (ERNS); Toxic Chemical Release Inventory System (TRIS); the Permit Compliance System of Toxic Wastewater Discharges (WWD); the Air Discharge Facilities Index (ADF); and the USEPA Civil Enforcement Docket. Facilities subject to corrective action under the Resource Conservation and Recovery Act (CORRACTS) are discussed with State RCRA listings.

National Priority List (NPL)

The NPL is the USEPAs list of sites that probably require remedial action under the Superfund Program. Nearby NPL sites can sometimes pose a risk of stigmatizing surrounding properties and thus impacting property values.

One NPL site, Newtown Creek, located approximately 5,165 feet east of the Property, was identified within a one-mile radius of the Property. As Newtown Creek is hydrologically unrelated to the Property, it has a low potential of affecting subsurface conditions at the Property. Newtown Creek also appears on the CERCLIS and SHWS databases.

Comprehensive Environmental Response, Compensation and Liability Information System (CERCLIS)

CERCLIS is a compilation of sites which the USEPA has investigated, or plans to investigate, pursuant to the Superfund Act of 1980 (CERCLA). As such, some of these sites may ultimately present concerns and others may not (but could still pose a perceived concern).

Two CERCLIS sites, All Plating Corp. and City Barrel Corp., were identified within a -mile radius of the Property. All Plating Corp. located at 154 North 7th Street, approximately 2,570 feet west of the Property, was listed in the database for odor complaints relating to acids and cyanides in open tanks. According to the database, the tanks were removed and no further remedial action was planned. City Barrel Corp., located at 421-429 Meeker Avenue, approximately 1,280 feet northeast of the Property, was listed in the database as a removal only site, with no site assessment work needed. Based on the nature and locations of these listings, there is a low potential of these sites adversely affecting the Property.

Comprehensive Environmental Response, Compensation, and Liability Information System-No Further Remedial Action Planned (CERCLIS-NFRAP)

As of February 1995, CERCLIS sites designated No Further Remedial Action Planned have been removed from CERCLIS. NFRAP sites may be sites where, following investigation, no contamination was discovered, contamination was removed quickly



without the need for the site to be place on the NPL, or the contamination was not serious enough to require Federal Superfund action or NPL consideration.

No CERCLIS-NFRAP sites were identified within a -mile radius of the Property.

Toxic Chemical Release Inventory System (TRIS)

The TRIS contains information reported by a variety of industries on their annual estimated releases of certain chemicals.

No TRIS sites were reported within a -mile radius of the Property.

Permit Compliance System of Toxic Wastewater Discharge (WWD)

This database includes certain sites which discharge wastewater containing potentially hazardous chemicals.

No WWD facilities were reported within a -mile radius of the Property.

United States Environmental Protection Agency Civil Enforcement Docket

This database tracks civil judiciary cases filed on behalf of the USEPA by the Department of Justice.

No facilities were listed in the USEPAs Civil Enforcement Docket within a -mile radius of the Property.

Air Discharge Facilities Index (ADF)

This federal database includes information on certain air emission sources.

Three Air Discharge Facilities were identified within a -mile radius of the Property. These facilities were reported to be in compliance or meeting a compliance schedule. Details of these facilities are as follows:

Dickie and Ann Auto Service, approximately 340 feet west of the Property, was listed as a State Implementation Plan (SIP) source for potential uncontrolled volatile organic compounds emissions of less than 100 tons per year. According to the database, Dickie and Ann Auto Service is currently operating and is in compliance.

Union Scrap Metals, located approximately 645 feet west of the Property, was listed for potential uncontrolled emissions of chloroflourocarbons.

Based on the details of the listings, these facilities are not expected to have affected the Property.

5.2.2 State

State databases included the listings of petroleum/hazardous material spills (SPILLS); Resource Conservation and Recovery Act Notifiers (RCRA); Chemical Bulk Storage (CBS); Solid Waste Facilities (SWF); Petroleum Bulk Storage (PBS); State Inactive Hazardous Waste Disposal Sites (SHWS); Major Oil Storage Facilities (MOSF); Brownfield Cleanup Program (BCP) Sites; and Historic Utility Sites.

New York SPILLS Database

This database includes releases reported to the NYSDEC, including tank test failures (for USTs only) and tank failures.



A total of 227 spills were reported within a -mile radius of the Property, including 18 active status spills and 213 closed status spills. The one active spill listing located in a presumed upgradient groundwater flow direction from the Property that may have affected the Property is summarized as follows:

The north-adjacent property, 646 Lorimer Street, was assigned spill #1308237 after soil and groundwater contamination was discovered during a Phase II investigation on November 13, 2013.

All other listings occurred greater than 400 feet away from the Property in presumed down-gradient groundwater flow direction with respect to the Property and, as such, would not be expected to have significantly affected the Property. Details from all spills are included in Appendix C.

Resource Conservation and Recovery Act (RCRA) Notifiers Listings

This database lists sites which have filed notification forms regarding hazardous waste activity, including: treatment, storage and disposal facilities (TSDs); small-quantity (SQG) and large-quantity generators (LQG); and transporters regulated under RCRA. The discussion below includes any CORRACTS listings of facilities which are subject to corrective action under RCRA.

One CORRACTs listing, Radiac Research Corp., was identified within a one-mile radius of the Property. Radiac Research Corp., located approximately 4,595 feet west of the Property, is a Small Quantity Generator (SQG) of hazardous waste. Corrective Action (CA) was initiated in 1985 and the CA process was terminated in September 2009. Radiac Research Corp. was also identified as a TSD facility for the disposal of various metals, volatile organic compounds (VOCs), semi-volatile organic compounds (SVOCs), pesticides, asbestos, and sludge.

No TSD facilities were identified within a -mile radius of the Property. Nineteen RCRA Generators/Transporters were reported within a -mile radius of the Property. The four facilities located in presumed upgradient groundwater flow direction from the Property are summarized as follows:

Con Edison, located at 67 Jackson St., approximately 165 feet northeast of the Property, was identified as a hazardous waste generator of 100 gallons of lead in 2014.

Con Edison, located at 642 Lorimer & Jackson St., approximately 90 feet south of the Property, was identified as a hazardous waste generator of 75 gallons of lead in 2014.

Con Edison, located at 70 Jackson St., approximately 205 feet southeast of the Property, was identified as a hazardous waste generator of 50 gallons of lead in 2014.

NYSDOT BQE Project, located at Meeker & Lorimer St., approximately 225 feet northwest of the Property, was listed as a hazardous waste generator of 50,900 pounds of chromium and 240 cubic yards of chromium in 1995, and 2,435 gallons of arsenic and 85 gallons of spend non-halogenated solvents in 1989.

No violations were reported for any of the listings. Based on the listing details and location, the remaining RCRA sites are not likely to have affected the Property.



Chemical Bulk Storage (CBS) Database

The New York CBS is a list of facilities that store regulated non-petroleum substances in aboveground tanks with capacities greater than 185 gallons and/or in underground tanks of any size.

No CBS facilities are listed within a -mile radius of the Property.

Solid Waste Facilities (SWF)

This database includes certain landfills, incinerators, transfer stations, recycling centers, and other sites which manage solid waste.

One SWF listing, National Paper Stock Cart, was identified within a -mile radius of the Property. National Paper Stock, approximately 2,445 feet west-northwest of the Property is a facility that processes demolition material, high grade paper, and putrescible waste. Based on the nature of the facility and the anticipated groundwater flow direction, the facility is not likely to have significantly affected subsurface conditions beneath the Property.

Petroleum Bulk Storage (PBS) Database

This database lists facilities that registered having either aboveground or underground petroleum tanks with total storage exceeding 1,100 gallons. Facilities with more than 400,000 gallons appear on the Major Oil Storage Facilities (MOSF) database (see below).

Six PBS facilities were identified within a -mile radius of the Property. One of these facilities was located on the same block as the Property and one was located across the street. Details of these two nearest facilities are given in Table 5.

Table 1 Area Petroleum Bulk Storage Facility Data

Location Capacity (gallons)

Product Stored

Status Distance/Direction

from Study Site

646 Lorimer St. 550-gallon

UST Gasoline Closed north-adjacent

243 Meeker Avenue 10x550-gallon

USTs Gasoline Closed

330 feet / northwest

Notes: UST - underground storage tank

The 646 Lorimer St. facility listed above was listed on the NY Spills database for soil and groundwater contamination (detailed in the spills section above). Documented and undocumented releases from these facilities could have affected subsurface conditions beneath the Property. Details of the PBS facilities located within mile of the Property are included in Appendix C.

State Inactive Hazardous Waste Disposal Site Registry (SHWS)

This program (also known as State Superfund) lists information regarding a variety of sites likely requiring cleanup. Twenty-one State Inactive Hazardous Waste Disposal Sites were reported within a one-mile radius of the Property. The closest site is summarized as follows:



BQE/Ansbacher Color and Dye Factory located at Meeker Avenue, approximately 1,157 feet to the southwest of the Property. According to the database, hazardous levels of arsenic, lead, and cyanide are present in soil and groundwater beneath the Brooklyn Queens Expressway. Based on the location of the site and the direction of anticipated groundwater flow, there is a low potential of this site having affected subsurface conditions beneath the Property.

The SHWS sites have a low potential of having affected subsurface conditions beneath the Property.

State Hazardous Substance Waste Disposal Site Study (SHSWDS)

This database tracks certain sites that were not listed on SHWS, but may still require investigation and/or cleanup.

No SHSWDSs were identified within a -mile radius of the Property.

Major Oil Storage Facilities (MOSF) Database

These facilities have petroleum storage of 400,000 gallons or more.

No Major Oil Storage Facilities were reported within a -mile radius of the Property.

Environmental Restoration Program (ERP)

These sites (which are generally municipally-owned) are receiving New York State funding for site investigation and remediation. Some sites in this program have known contamination, whereas others have not had sufficient investigation to determine whether contamination is present.

No ERP sites were identified within a -mile radius of the Property.

Voluntary Cleanup Program

The Voluntary Cleanup Program is a NYSDEC program for investigation and remediation of (generally) privately-owned sites. Some sites in this program have known contamination, whereas others have not had sufficient investigation to determine whether contamination is present.

No Voluntary Cleanup Program sites were identified within a -mile radius of the Property.

Brownfield Cleanup Program (BCP)

This NYSDEC program is the successor to the Voluntary Cleanup Program. Again, some sites have known contamination, whereas others have not had sufficient investigation to determine whether contamination is present. Three BCP sites were listed within a -mile radius of the Property. Their descriptions are as follows:

285 and 291 Metropolitan Avenue, located approximately 2,440 feet west-southwest of the Property, was listed for submission of a BCP application currently under review. According to the database, groundwater was contaminated with petroleum compounds and methyl tertiary-butyl ether (MTBE), a gasoline additive.

555 Grand Street, approximately 1,800 feet south of the Property, was listed for submission of a BCP application currently under review. According to the database, soil and soil gas have been contaminated by tetrachloroethylene (PCE) and



trichloroethene (TCE). Other contaminants of concern in the soil included benzo(a)anthracene, benzo(b)fluoranthene, chrysene, arsenic, copper, lead and mercury.

The Former Driggs Plywood Corp. at 11 Jackson Street, approximately 520 feet west of the Property. According to the database, soil and soil gas have been contaminated by polycyclic aromatic hydrocarbons (PAHs), PCE, and metals.

Based on the location of the sites and the direction of anticipated groundwater flow, there is a low potential of these sites having affected subsurface conditions beneath the Property.

Historic Utility Sites

This is an inventory of certain power generating stations, manufactured gas plants, gas storage facilities, maintenance yards and other gas and electric utility sites identified in various historic documents, maps and annual reports from 1898 to 1950.

No historic utility sites were listed within a -mile radius of the Property.

5.2.3 Local Agency File Review

Records available online from the New York City Fire, Buildings and Finance Departments were viewed for the Property. The Fire Department records were obtained by Toxics Targeting, Inc. as part of the regulatory database search. Since the records typically address a multitude of issues, the review focused on items likely to relate to the potential presence of hazardous materials, e.g., petroleum tank installation applications and permits, and records indicating prior uses. Copies of pertinent information are included in Appendices C (Fire Department Records) and D (Buildings and Finance Department Records).

Fire Department

The computerized FDNY Tanks database was searched regarding past or current motor vehicle fuel and heating oil tank listings within a -mile radius of the Property.

Fire Department records indicated no listings for the Property and one 550-gallon vehicle fuel oil tank was associated with 646 Lorimer Street, the north-adjacent property. All other listings are unlikely to have affected subsurface conditions beneath the Property.

Buildings Department

Electronic NYCDOB records for the Property were reviewed to determine whether there were any references to buildings, tanks or other structures, property usage or inspection reports that may have indicated the presence, past use, or release of hazardous substances, wastes or petroleum products within the Property. The NYCDOB Building Information Systems electronic data included:

Numerous actions included a 1919 New Building Permit.

A 2000 Certificate of Occupancy documented a three-story residential building with a cellar and commercial space on the first floor, and approval for use of fuel oil in 1962.



Land Title Records and Tax Records

Electronic property transaction records for the Property Block and Lot were reviewed from the New York City Department of Finance Office of the City Register Automated City Register Information System (ACRIS). Deed information obtained from the ACRIS files is summarized below:

Year Grantor/Grantee Listed on Deed 1974 Property was transferred from Louise Grillo to Louise Grillo.

2000 Property was transferred to Laura Cavallo from Laura Cavallo.

The title information search did not indicate evidence of RECs in connection with the Property.

5.2.4 Additional Environmental Record Sources

To enhance the search, ASTM requires that additional local records be reviewed (i.e., beyond those included as part of the standard database search or checked online) when, in judgment of the environmental professional, such records for the Property or any adjoining property would be reasonably ascertainable; and useful, accurate and complete in light of the objective of the records review. These records may include:

Local Brownfields Lists

Local Lists of Landfill/solid waste disposal sites

Local Lists of Hazardous Waste/Contaminated Sites

Local Lists of Registered Tanks

Local Land Records (for activity use limitations)

Records of emergency release reports

Records of contaminated public wells

Sources for these records include:

Department of Health/Environmental Division

Fire Department

Building Permit/Inspection Department

Local/Regional Pollution Control Agency

Local/Regional Water Quality Agency

Local Electric Utility (for PCB records)

A Freedom of Information Law (FOIL) request for information relevant to environmental conditions on the Property was submitted to the NYSDEC, NYSDOH, and the EPA on September 15, 2014. As of the date of this report, no response, other than the request acknowledgement, was received. If issues of potential concern are noted upon receipt of this information, an amendment to this report will be created to discuss relevant findings.

In AKRFs judgment, no such additional local records meeting the ASTM criteria are pertinent for the Property.



6.0 USER-PROVIDED INFORMATION

In preparing this Phase I ESA, AKRF requested that Synapse Capital provide any pertinent information regarding the Property, specifically:

Whether any environmental liens or activity and land use limitations (AULs) are in place or filed or recorded against the Property?

Whether they had any specialized knowledge or experience related to the Property or nearby properties (e.g., specialized knowledge of any chemicals used on-site)?

Whether the (anticipated) purchase price reflects that the Property is or could be contaminated?

Whether they were aware of commonly known or reasonably ascertainable information about environmental conditions of the Property?

Whether they were aware of any obvious indicators of contamination at the Property?

Whether they were aware of any pending, threatened, ongoing or past litigation/enforcement action/consent order/notice of violation related to hazardous substances or petroleum products?

According to Synapse Capital, the Phase I ESA was performed to evaluate the Property as part of due diligence related to its potential purchase. Synapse Capital was not aware of any: environmental liens or activity use limitations on the Property; historic or current presence of petroleum storage tanks; property value reduction due to environmental issues; any pending, threatened, ongoing or past litigation/enforcement action/consent order/notice of violation related to hazardous substances or petroleum products; or any obvious indicators of contamination on the Property. To the extent that pertinent additional information was provided, it has been summarized elsewhere in this report.

7.0 PREVIOUS STUDIES

No previous studies were provided or otherwise readily available to AKRF.

8.0 LIMITATIONS AND DATA GAPS

This assessment met the requirements of the American Society for Testing and Materials (ASTM) as established by ASTM Standard E1527-13 at the time it was performed, with the following limitations:

Results of this investigation are valid as of the dates on which the investigation was performed.

Five of the six apartments in the building were inaccessible at the time of our site inspection due to tenants occupancy.

One storage room in the west basement was locked and inaccessible.

One of the three garage bays were locked and inaccessible.

Interviews and user provided information were limited to those discussed in Section 6.0. To the extent that interviews were not conducted with the list of interviewees cited in the ASTM Standard (past and present owners, operators, and occupants of the Property and local government officials), AKRF does



not believe that this represents a significant data gap likely to result in additional or significantly changed recognized environmental conditions or conclusions.

The Property area history was not conducted in five-year intervals. However, sufficient information about the history of the site and surrounding area could be obtained from the available historical Sanborn maps, New York City Buildings Department records, and interviews, and this data gap is not likely to alter the conclusions of this report.

Agency File Reviews for the Property and adjacent properties consisted of a review of standard databases and electronic records maintained by pertinent departments and agencies (summarized in Section 5.2), and a FOIL request for pertinent records submitted to NYSDEC, NYCDOH, and EPA. AKRF believes that this file review was sufficient in determining the potential for recognized environmental conditions or other environmental concerns at the Property and additional reviews beyond this are not warranted and would not likely change the conclusions of this assessment



9.0 CONCLUSIONS

This Phase I Environmental Site Assessment was performed in conformance with ASTM Standard E1527-13, Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Practice. Any exceptions to, or deletions from, the Standard are described in Section 8.0. The term Recognized Environmental Condition or REC means the presence or likely presence of any hazardous substances or petroleum products in, on, or at a property: (1) due to any release to the environment; (2) under conditions indicative of a release to the environment; or (3) under conditions that pose a material threat of a future release to the environment. The Standard also includes definitions of Historic REC (HREC), Controlled REC (CREC), and De Minimis Condition. A De Minimis Condition is defined as an environmental concern that is not a threat to human health or the environment and would not be subject to enforcement action.

At the time of AKRFs reconnaissance, the Property included a three-story (plus basement) residential building constructed in 1928, a concrete rear yard, and a detached three-car garage. The Williamsburg Car Wash and Detail Center was located north-adjacent to the Property and a one-story warehouse was located east-adjacent to the Property. The remainder of the block was occupied by single- and multi-level residences. The surrounding blocks were occupied primarily by low-rise residential and commercial structures. Additional industrial buildings were observed on the northeastern corner of the block. Residential and commercial/retail properties were located to the south across Jackson Street. A small public park was located to the west across Lorimer Street. Historical fire insurance maps indicated that the Property was historically occupied by a one-story building constructed in 1887.

This assessment revealed the following:

RECs

According to historic records, the northadjacent property (646 Lorimer Street) contained a gasoline station in the past. In addition, New York State Department of Environmental Conservation (NYSDEC) Spill #1308237 is associated with 646 Lorimer Street for soil and groundwater contamination discovered during a Phase II investigation. Based on the nature of the spill and its location, there is a potential for this spill to have affected the Property.

According to the New York City Department of Building (NYCDOB) and New York City Department of Environmental Protection (NYCDEP) records, the building was heated with a fuel oil-fired boiler circa 1962. No information regarding the status of the associated tank was included in the records. Any associated petroleum storage tank(s) may have been removed, or may remain beneath the Property. No evidence of petroleum storage tank(s) were observed during site reconnaissance. Leaks from any historical on-site petroleum storage tanks constitute a REC.

The surrounding area was mixed-use and included the Williamsburg Hand Car Wash & Detail Center, residences, and a warehouse. According to historic records, the surrounding area was historically mixed-use and included: stores, dwellings, a lead refinery, a cooperage, a tannery, a bottle dealer, a cooper shop, Schiff & Co. Fur Dying and Cleaning, Diener & Co. Furniture Manufacturing and Storage, a wagon house, a dress maker, an iron works, a factory, a scrap metal facility, a lumber yard, a plumbing storage building, an auto repair shop, and a sugar warehouse. Several petroleum bulk storage (PBS) facilities were located in close proximity to the Property. These past and present surrounding property uses constitute a REC.



Other On-site Environmental Concerns (items outside the scope of E1527-13 like ACM, LBP and/or PCBs in Building Materials or Fill/Debris)

Suspect ACM observed during the reconnaissance included: roofing materials, flooring materials, pipe and pipe fitting insulation, window and door caulk, and exterior shingles. Some suspect ACM exterior shingles were noted to be damaged during site reconnaissance.

Painted surfaces observed in the common areas of the structure and the one accessible residential unit was noted to be in moderate to good condition. However, painted surfaces within the five of the residential units were not inspected. New York City lead-based paint requirements apply to apartments in buildings constructed prior to 1978.

Because of the age of the building, fluorescent bulbs, lighting components (e.g., capacitors) and other electrical equipment observed during the reconnaissance may contain polychlorinated biphenyls (PCBs) and/or mercury. Although their continued use does not generally present a hazard, unless there is labeling or test data which indicates that they are not mercury/PCB-containing, should disposal be required, it must be in accordance with all applicable requirements. No spills or leaks were observed during site reconnaissance.

Potential for Vapor Migration

This Phase I ESA identified a potential for subsurface vapors beneath the Property based on the open NYSDEC spill number associated with the north-adjacent property (646 Lorimer Street).



10.0 SIGNATURE PAGE

We declare that, to the best of our professional knowledge and belief, we meet the definition of Environmental Professional as defined in 312.10 of 40 CFR 312.

We have the specific qualifications based on education, training, and experience to assess a property of the nature, history, and setting of the Property for which the assessment was performed. We have performed all the appropriate inquiries in conformance with standards and practices set forth in 40 CFR Part 312.

Michelle Lapin. P.E. Senior Vice President

Deborah Shapiro, QEP Technical Director



11.0 QUALIFICATIONS

The purpose of this assessment was to convey a professional opinion about the potential presence or absence of contamination, or possible sources of contamination on the Property, and to identify existing and/or potential environmental issues associated with the Property including Recognized Environmental Conditions as defined in ASTM Standard E1527-13, Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Practice.

The assessment was performed in accordance with customary principles and practices in the environmental consulting industry, and in accordance with the above-referenced ASTM Standard, except as noted otherwise in Section 8.0. It should only be used as a guide in determining the possible presence or absence of hazardous materials on the Property at the time of the reconnaissance, as it is based upon the review of readily available records relating to both the Property and the surrounding area, as well as a visual reconnaissance of current conditions.

This Phase I Assessment is not, and should not be construed as, a guarantee, warranty, or certification of the presence or absence of hazardous substances, which can be made only with testing, and contains no formal plans or recommendations to rectify or remediate the presence of any hazardous substances which may be subject to regulatory approval. This report is not a regulatory compliance audit.

This report is based on services performed by AKRF, Inc. professional staff and observation of the Property and its surroundings. We represent that observations made in this assessment are accurate to the best of our knowledge, and that no findings or observations concerning the potential presence of hazardous substances have been withheld or amended. The research and reconnaissance have been carried to a level that meets accepted industry and professional standards. Nevertheless, AKRF and the undersigned shall have no liability or obligation to any party other than Synapse Capital and their successors or assignees, and AKRFs obligations and liabilities to the above, their successors or assignees is limited to fraudulent statements made, or grossly negligent or willful acts or omissions.



12.0 REFERENCES

1. Environmental Data Resources Inc., City Directory Abstract, 644 Lorimer street New York, New York, September 12, 2014.

2. Toxics Targeting, Inc., 644 Lorimer Street - New York, New York, Regulatory Radius Search, September 15, 2014.

3. U.S. Geological Survey, Brooklyn, N.Y Quadrangle, 7.5 minute Series (Topographic), Scale 1:24,000, 1966, Photorevised 1979.

4. Sanborn Insurance Maps dated 1887, 1905, 1916, 1942, 1951, 1965, 1978, 1979, 1980, 1981, 1982, 1983, 1986, 1987, 1988, 1989, 1991, 1992, 1993, 1995, 1996, 2001, 2002, 2003, 2004, 2005, 2006 and 2007.

FIGURES

Sources: Esri, DeLorme, HERE, TomTom, Intermap, increment P Corp.,GEBCO, USGS, FAO, NPS, NRCAN, GeoBase, IGN, Kadaster NL,Ordnance Survey, Esri Japan, METI, Esri China (Hong Kong), swisstopo,and the GIS User Community

PROPERTY LOCATION

644 Lorimer StreetBrooklyn,New York 9/29/2014118171

[0 1,000 2,000FeetDATE

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PROPERTYLOCATION

AREA OF DETAILCopyright: 2014 Esri

440 Park Avenue South, New York, N.Y. 10016Environmental Consultants

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440 Park Avenue South, New York, N.Y. 10016PROPERTY PLAN

Brooklyn, New York644 LORIMER STREET

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APPENDIX A

PHOTOGRAPHIC DOCUMENTATION

AKRF, Inc.

Photograph 1. Looking northeast at the Property from the corner of Lorimer & Jackson Street.

Photograph 4. Boiler and hot water heater in the western portion of the basement.

Photograph 2. Looking northwest at detached garage, rear yard, and rear of Property building from Jackson Street.

Photograph 3. Looking northeast at on-site detached three-car garage from Jackson Street.

Page 1

644 Lorimer Street, Brooklyn, NYAKRF, Inc.

AKRF, Inc.

Photograph 5. View of inside of on-site garage.

Photograph 8. Looking west across the Property roof.

Photograph 6. Ceiling and light fixtures in accessible apartment unit.

Photograph 7. On-site Rear Yard.

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AKRF, Inc. 644 Lorimer Street, Brooklyn, NY

APPENDIX B

HISTORICAL SANBORN MAPS

1887 SANBORN MAP

644 Lorimer Street Brooklyn, New York

Environmental Consultants 440 Park Avenue South, New York, N.Y. 10016

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1995 SANBORN MAP



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1996 SANBORN MAP



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2001 SANBORN MAP



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2002 SANBORN MAP



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2003 SANBORN MAP



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2004 SANBORN MAP



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2005 SANBORN MAP



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2006 SANBORN MAP



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PROPERTY LOCATION

2007 SANBORN MAP



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PROPERTY LOCATION

APPENDIX C

REGULATORY RECORDS REVIEW

LIMITED WARRANTY AND DISCLAIMER OF LIABILITY

Who is Covered This limited warranty is extended by Toxics Targeting, Inc. only to the original purchaser of the

accompanying Environmental Report ("Report"). It may not be assigned to any other person.

What is Warranted

Toxics Targeting, Inc. warrants that it uses reasonable care to accurately transcribe the information contained in this Report from the sources from which it is obtained. This limited warranty is in lieu of all other express warranties which might otherwise arise with respect to the Report. No one is authorized to change or add to this limited warranty.

What We Will Do

If during the warranty period there is shown to be a material error in the transcription of the information contained in this Report from the sources from which it was obtained, Toxics Targeting, Inc. shall refund to the original purchaser the full purchase price paid for the Report. The remedy stated above is the exclusive remedy extended to the Purchaser by Toxics Targeting, Inc. for any failure of the Report to conform with this Warranty, or otherwise for breach of this Warranty or any other warranty, whether expressed or implied.

What We Wont Cover

Toxics Targeting, Inc. has not and can not verify the accuracy, correctness or completion of the information contained in this Report. Information is obtained from government agencies, site owners, and other sources, and errors are common in such information. Because Toxics Targeting, Inc. can not control the accuracy of the information contained in this Report, or the uses which may be made of the information, TOXICS TARGETING, INC. DISCLAIMS LIABILITY TO ANYONE FOR ANY EVENTS ARISING OUT OF THE USE OF THE INFORMATION. TOXICS TARGETING, INC. SHALL NOT

644 Lorimer Street

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