Environmental Indemnity Agreement Form

Since the standard form of environmental compensation persists indefinitely, the person subject to compensation, in the event of enforcement, would still be held liable to the lender for environmental liabilities resulting from such seizure when the borrower no longer owns and controls the immovable property. It is understandable that the person liable for compensation does not want to be held liable for the actions of a third party after leaving the property. Therefore, the lender will often agree to add a release provision stating that the compensator is not liable for losses incurred by the lender, to the extent that such losses result exclusively from acts, conditions or events after the date on which the lender acquired ownership of the property through a seizure or deed instead of a seizure. .