| Property Type | Loan Value ≤ $250,000 | Loan Value > $250,000 and ≤ $500,000 | Loan Value > $500,000 and ≤ $1,000,000 | Loan Value ≥ $1,000,000 | Bank is Preparing to Foreclose on the Collateral (regardless of $ amount) |
|---|---|---|---|---|---|
| Previously Undeveloped Land |
Environmental Checklist (Exhibit A)
|
Environmental Checklist (Exhibit A) |
Environmental Checklist (Exhibit A)
OR
Risk Analysis Report Environmental Risk Advisor (ERA) @ $150 & Borrower portion of Environmental Checklist
|
Risk Analysis Report Environmental Risk Advisor (ERA) @ $150 & Borrower portion of Environmental Checklist
OR
Phase I if determined by Credit Committee as prudent step in the loan process. |
Risk Analysis Report Environmental Risk Advisor (ERA) @ $150 |
|
Commercial, Retail, Office, Industrial, or Other Property not listed in
|
Environmental Checklist (Exhibit A)
If High Risk Property - See Exhibit B |
Environmental Checklist (Exhibit A)
OR
Risk Analysis Report Environmental Risk Advisor (ERA) @ $150 & |
Environmental Checklist (Exhibit A)
OR
Risk Analysis Report Environmental Risk Advisor (ERA) @ $150 & |
Risk Analysis Report Environmental Risk Advisor (ERA) @ $150 & Borrower portion of Environmental Checklist
OR
Phase I if determined by Credit Committee as prudent step in the loan process. |
Risk Analysis Report Environmental Risk Advisor (ERA) @ $150 |
| Properties with Businesses of Industries Considered Higher Risk listed in Exhibit B |
Environmental Checklist (Exhibit A)
OR
Risk Analysis Report Environmental Risk Advisor (ERA) @ $150 Higher End |
Risk Analysis Report Environmental Risk Advisor (ERA) @ $150 & Borrower portion of Environmental Checklist Lower End
OR
Borrower portion of Environmental Checklist Higher End |
Risk Analysis Report Environmental Risk Advisor (ERA) @ $150 & Borrower portion of Environmental Checklist Lower End
OR
Borrower portion of Environmental Checklist Higher End |
Borrower portion of Environmental Checklist
Can ONLY be waived by Credit Committee Lower & Higher End |
Risk Analysis Report Environmental Risk Advisor (ERA) @ $150 Lower End
OR
Phase I Environmental - Higher End |
| Renewals & Modifications | Environmental Checklist (Exhibit A) |
Environmental Checklist (Exhibit A)
OR
Risk Analysis Report Environmental Risk Advisor (ERA) @ $150 & Borrower portion of Environmental Checklist Higher End |
Risk Analysis Report Environmental Risk Advisor (ERA) @ $150 & Borrower portion of Environmental Checklist Lower & Higher End |
Risk Analysis Report Environmental Risk Advisor (ERA) @ $150 & Borrower portion of Environmental Checklist Lower & Higher End
OR
Phase I if determined by Credit Committee as prudent step in the loan process. |
Exhibit C - Commercial Real Estate - Environmental Procedure Matrix
**If Environmental Risk Advisor (ERA) recommends further due diligence (risk score of 2 or 3), proceeding with recommendation is required. Risk scores of 4 and higher require a Phase I to be completed unless waived by Credit Committee or Senior Management in Credit Administration.
**If Phase I audit reveals a likelihood that contamination exists, the report should be reviewed by an attorney approved by the Bank for recommendation on how to proceed (per Environmental Risk Management Policy).
∧ Environmental Risk Advisor (ERA) is currently Veracheck