EPA v. WARD TRANSFORMER SUPERFUND SITE (NEW SOUTHERN OF ROCKY MOUNT)

Case summary

11/19/10 - COST RECOVERY AGREEMENT ISSUED. SETTLING PARTY: NEW SOUTHERN OF ROCKY MOUNT. WITHIN 30 DAYS, SETTLING PARTY SHALL OBTAIN AN ACCURATE, COMPLETE, AND IMPARTIAL APPRAISAL OF THE PROPERTY'S FAIR MARKET VALUE, WHICH SHALL BE CONSIDERED A COST TO MARKET AND SELL THE PROPERTY. THE APPRAISAL SHALL BE PREPARED BY A NC LICENSED AND CERTIFIED COMMERCIAL REAL ESTATE APPRAISER IN COMPLIANCE WITH THE UNIFORM STANDARDS OF PROFESSIONAL APPRAISAL PRACTICE AS PROMULGATED BY THE APPRAISAL STANDARDS BOARD WHO HAS NO AFFILIATION WITH OR ANY RELATION TO ANY SETTLING PARTY. THE APPRAISAL SHALL BE SUBJECT TO APPROVAL BY EPA, WHICH APPROVAL WILL NOT BE UNREASONABLY UNHELD. SETTLING PARTY SHALL UNDERTAKE BEST EFFORTS TO SELL THE PROPERTY WITHIN 2 YEARS OF THE EFFECTIVE DATE AND SHAL PAY THE NET SALES PROCEEDS TO EPA UNDER THE FOLLOWING TERMS AND CONDITIONS: A. WITHIN 60 DAYS AFTER THE EFFECTIVE DATE, SETTLING PARTY SHALL SUBMIT TO EPA INFO DOCUMENTING THE BEST EFFORTS TO SELL THE PROPERTY. THIS INFO SHALL BE SENT TO EPA. SETTLING PARTY SHALL THEREAFTER SUBMIT AN UPDATE DOCUMENTING THE CONTINUING BEST EFFORTS TO SELL THE PROPERTY EVERY 3 MONTHS, WITH THE FIRST UPDATE DUE FIVE MONTHS FROM THE EFFECTIVE DATE. B. SETTLING PARTY SHALL NOTIFY EPA IN WRITING WITHIN 3 BUSINESS DATS OF RECEIPT OF ANY WRITTEN OFFERS TO PURCHASE THE PROPERTY OR A PORTION THEREOF. SETTLING PARTY SHALL AT THAT TIME PROVIDE EPA WITH A COPY OF THE OFFER. IF THE AMOUNT OF THE OFFER IS EQUAL TO OR GREATER THAN THE APPRAISED FAIR MARKET VALUE APPROVED BY EPA, AND IF THE OFFER DOES NOT CONTAIN UNREASONABLE CONTINGENCIES OR TERMS INCLUDING, WITHOUT LIMITATION, A REQUIREMENT TO SELL THE PROPERTY ON ANYTHING OTHER THAN A AS IS NO WARRANTY BASIS, THEN SETTLING PARTY SHALL SELL THE PROPERTY. IF THE AMOUNT OF THE OFFER IS BELOW THE APPRAISED FAIR MARKET VALUE APPROVED BY EPA, THE DECISION TO SELL THE PROPERTY IS IN EPA'S SOLE DISCRETION. C. SETTLING PARTY SHALL NOTITY EPA OF THE COMPLETION OF THE SALE WITHIN 10 DAYS OF THE DATE OF CLOSING OR AUCTION AND SHALL INCLUDE WITH SUCH NOTIFICATION A COPY OF THE CLOSING BINDER, INCLUDING FINAL EXECUTED DOCUMENTATION FOR THE CONVEYANCE AND A WORK SHEET SETTING FORTH THE NET SALES PROCEEDS AND THE AMOUNT PAYABLE TO EPA. D. IF THE PROPERTY IS NOT SOLD WITHIN 2 YRS OF THE EFFECTIVE DATE, SETTLING PARTY SHALL SELL THE PROPERTY AT PUBLIC AUCTION. THE AUCTIONEER MUCH BE A PROFESSIONAL, COMMERCIAL AUCTIONEER. IF A PARTY WHO HAS AN AFFILIATION WITH OR RELATION TO ANY SETTLING PARTY BID ON THE PROPERTY, THE THE MINIMUM BID PRICE SHALL BE THE APPRAISED FAIR MARKET VALUE APPROVED BY EPA. E. SETTLING PARTY SHALL PAY EPA THE NET SALES PROCEEDS FROM THE SALE OF THE PROPERTY WITHIN 15 DAYS OF THE CLOSING DATE OR AUCTION DATE.

Defendants (1)

• NEW SOUTHERN OF ROCKY MOUNT (SB)Named in settlement

Facilities (1)

• WARD TRANSFORMER

  6720 MT. HERMAN ROAD, RALEIGH, NC, 27612

  Registry ID: 110006367449

Statutes cited

• CERCLA 122H — Administrative Cost Recovery Settlement

Enforcement conclusions (1)

• WARD TRANSFORMER SUPERFUND SITE (NEW SOUTHERN OF ROCKY MOUNT)entered 2010-11-19

  Primary law: CERCLA

Timeline (2 milestones)

• 2010-11-19Final Order Issued
• 2011-01-03Enforcement Action Data Entered