Page:United States Statutes at Large Volume 115 Part 3.djvu/300

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115 STAT. 2374 PUBLIC LAW 107-118-^AN. 11, 2002 "(V) Reviews of Federal, State, and local government records, waste disposal records, underground storage tank records, and hazardous waste handling, generation, treatment, disposal, and spill records, concerning contamination at or near the facility. "(VI) Visual inspections of the facility and of adjoining properties. "(VII) Specialized knowledge or experience on the part of the defendant. "(VIII) The relationship of the purchase price to the value of the property, if the property was not contaminated. "(IX) Commonly known or reasonably ascertainable information about the property. "(X) The degree of obviousness of the presence or likely presence of contamination at the property, and the ability to detect the contamination by appropriate investigation. "(iv) INTERIM STANDARDS AND PRACTICES. — "(I) PROPERTY PURCHASED BEFORE MAY 3I, Courts. 1997. — With respect to property purchased before May 31, 1997, in making a determination with respect to a defendant described in clause (i), a court shall take into account— "(aa) any specialized knowledge or experience on the part of the defendant; "(bb) the relationship of the purchase price to the value of the property, if the property was not contaminated; "(cc) commonly known or reasonably ascertainable information about the property; "(dd) the obviousness of the presence or likely presence of contamination at the property; and "(ee) the ability of the defendant to detect the contamination by appropriate inspection. "(II) PROPERTY PURCHASED ON OR AFTER MAY 31, 1997. —With respect to property purchased on or after May 31, 1997, and until the Administrator promulgates the regulations described in clause (ii), the procedures of the American Society for Testing and Materials, including the document known as 'Standard E1527-97', entitled 'Standard Practice for Environmental Site Assessment: Phase 1 Environmental Site Assessment Process', shall satisfy the requirements in clause (i). "(v) SITE INSPECTION AND TITLE SEARCH.—In the case of property for residential use or other similar use purchased by a nongovernmental or noncommercial entity, a facility inspection and title search that reveal no basis for further investigation shall be considered to satisfy the requirements of this subparagraph.".